I made $5m today by going all in on some GE puts at 17 for this months expiration a couple days ago

>GE puts at 17
so just stock option puts then? how did you make so much doing that? was it just because you had a huge enough amount of capital to invest?

Are you happy or do you still want to die like the rest of us?

How do options work at expiration?

If I hold them and they're in the money at expiration, how do I actually convert them to stocks (if that's the underlying asset)?

Can I lose money even if they're in the money by forgetting to use them?

I think he bid that GE will drop below 17. Puts and calls are called options.

Options are a contract to buy or sell 100 shares of the underlying stock. In this scenario OP bought the option to sell GE stock at 17$ and since the price went lower this becomes profitable for him. But for OP to actually sell these stocks he would need to either a) own them or b) have extra cash on the side to buy and then sell them to the contract holders. Usually people just sell the contracts to richer people to excercise.

I'm aware but they expire at a certain date.

How do I exercise them at expiration if I don't want to market sell beforehand.

Do you call your broker or something and tell them you want to exercise?

I’m about to go long there. Not sure if it’s bled enough yet.
It’s a bet that GE’s price will be less than $17 before the end of last month.
>no one ITT knows what an option is
Someone still bitched that it’s a grandpa instrument lmao. Bashing something they don’t even understand

no you didn't

optionsanimal.com/how-often-do-options-get-exercised-early/

this might answer some questions

idk yet

i saw some bad news about GE coming out and figured this was going to be one of the few stocks going to get creamed just before expiration so i bought up puts for a penny and sold at .95

>he makes delta plays with options

How to spot a pleb volume 1

i would make sure to be delta neutral on any GE longs at this point. youre kinda trying to catch falling knives at this point

send 1k pls
13LhagE177tfsZrTy4DfsvCGXEheUu7PT4

13cMAHLSGxQTVmXrgkTMK42pLTpzoPnoek
send a very tiny amount to this address from your biggest address

What exchange?
Can you tell real quick the pro and cons of options compared to futures?
Also what are binary options?

What was the initial capital you've put into this trade?

What was the initial investment? If I was able to turn 500k Runescape gold into 250 Mill one night gambling in 2011, why can't I do this with stocks?

dont do binary options kek

50k

I kind of want to just use all the money I've saved up while working at University to do this before I go to law school.

wow 50k is a lot tho for an expiration put speculation, couldve easily just lost it all because of max pain.

How were you faster than the market?
When did you see the news?
OP is not lapring, congrats

the news didn't move price much weirdly. it came out the day before the big red spike here

or better yet the second big red spike

Gongrats!

Do that and you can kiss law school good bye

How do u do what u do? What is ur background? Thinking of taking some crypto profits and doing this

Why? It'll be like 15-20 grand. It's not the money being used to pay for law school. Or are you saying that admissions boards will somehow get wind of this, and apparently that's not allowed for some arbitrary reason?

Teach me OP any link to some basics, congrats, would be happy w 1/1000th of that

1E4SVVAviATm5pcwcGPHJcEdBBAc13yQtU

damn dude and you decided to lotto on put options on exp daY? that is very very dangerous, but sometimes it works out.

I bet someones getting an old fashioned in that pool. Id bet my tel on it.

Congrats man, you have a stocktwits or anywhere you share your insights? Been fooling around with stocks and crypto for the past couple years and have been looking into options.