/biz/ - Business & Finance

>>19771661
wait is this the same guy who was trading options on a margin account? I think his dad tried to get him help..

i dont think biz has that much money

>>19771694
These are wallstreetbets leverage fags exploiting loopholes that let them gamble way more than they should.

>>19771661

>>19771694
>negative $730000
>much money
Jesus, just how poor are you streetshitters?

>>19771661
What an idiot. Chapter 7 bankruptcy chads would have absolved all the debt with a stroke of a pen. So spooked he actually thought debt was real.

>>19771713
I saw one gloating here 2 days ago in a pink wojak thread saying he was shorting everything he could. I wonder

F

>>19771732
>he didnt wait for the bubble

>>19771661
but i thought numbers only go up haha

the only way you can even take such extreme risk is by thinking "its ok, ill just kill myself if this doesnt work". he wasnt kidding

>>19771661
Fuck you. This is actually tragic. He probably didnt lose anything and would have had the stock credited to him in a few days. Making fun of this is really bad karma

>>19771661
Imagine killing yourself over fake money

nah that's wallstreet bets. was bitching about being a retard on reddit. by the way, you should go back. and while your at it, kys too

>>19771694
Lol he doesnt necesarily have to have that much in an account to "invest" it. That loss is something a bad $200 put could do to you.

This is why the stock market is not a place for amateurs or retards, ESPECIALLY right now.

>>19771729
More like burgers with their student debts and shit.

>>19771661
I don't know how it's in America but in my euro country if the creditor loans a ton of money to a poorfag without collateral it's the creditors problem. He could just not pay.

>>19771816
Fuck you fag, suicide is a pussy’s sport

>>19771858
What kinda 200 dollar put would you have to buy to go -700,000

>>19771661
Press F to pay respects

>>19771661

>>19771986
yea seriously thats what im trying to figure out. if this dude can go -700k on $200 then i can for sure go +700k off $200

>>19771694
Anyone who's been here since 2016 has at least a million. A positive million.

>>19771661
The entitlement. For fucks sake. He does a dumb fucking thing, then his dying breath is spent blaming everyone else. What a pathetic kid. His parents should have torn up the suicide note and spared the embarrassment.

>>19771816
>Fuck you. This is actually tragic. He probably didnt lose anything and would have had the stock credited to him in a few days. Making fun of this is really bad karma

How would RH go about collecting on that money?

>>19772001
>Jewish
Nothing of value was lost

>>19772056
Bait swallowed. Don't post if you predicable boring retard. Take this as an opportunity to resolve yourself to not shit up threads with your negative value posts.

Thanks for the liquidity! heehee!

"You owe us 730k my man"

Just delete the app, what are they gunna do

>>19772001
Strong incel phenotype here, he missed on nothing

>>19771661

That's terrible. Imagine 20 yrs of resources n cells just multiplying to sustain a life that felt no value in this world.

Sad.

>>19771786
:l

>>19771694
You can lose way more money than you actually have if you play with the right toys

How did he go negative?
Options?

Complete 5 IQ retard here, I only trade in stocks.

Please explain it to me.

Anyone else here holding TTD I keep think it’s hit the top and it just keeps fucking going.

>>19772864
his name didn't end in 'berg' or 'stein'

>>19772001
Is that him?

a 16yo near me killed himself after being caught by the cops with 1 joint. i hope america is proud of itself for the planet-ruining politics it keeps sharting all over mankind.

>committing suicide over debt instead of just declaring bankruptcy and having bad credit for 7 years then getting over it

>>19773201
autists gonna aut.

>>19771816
That makes it LESS tragic - the fact that he killed himself over a quirk of accounting instead of taking another second to examine his situation and options. How many people in his love life did he hurt, and for what? Not even a "hey I got myself in a lot of trouble", literally just "hey I misunderstood something that looked like a lot of trouble that was only a little trouble".

>>19771816
>wasn't financially literate
Thats the real tragedy, him offing himself was good. Who the fuck wants that kind of a guy running or managing anyones anything?

>>19773669
It's tragic that he was so fucking stupid and hurt everyone he loved. But at least his cognitive failure will never reproduce in the gene pool.

>>19773192
I don't care about a dead nigger in a blue state who killed himself over a communist's set of laws that keeps niggers slaves forever when they think they are free.

if youre gonna make a news article every time someone kills himself... you'll be making a lot of articles.

>>19772182
this

>>19772864
The only way to blow up that hard with that much is options, yes.

Negative account balance? Couldn’t he just close his count and refuse to pay? I mean what the fuck can they do? How is that debt if it’s just a Robin Hood account?

>>19771986
If it is a glitch you wouldn't even need the $200. Just selling puts would get you there especially if you are assigned the shares.

Better attempt at getting rich than Dylan Roof who spent $10000 on lottery tickets

>>19772864
Basically he looked at his portfolio value in between options executing and he would not have a negative value after they were done executing. He specifically mentioned a bull put spread in his suicide note. From the article:

>Here’s an example of how a bull put spread could produce an unexpectedly large stock position in your portfolio. On June 16, Amazon (AMZN) trades at $2,615 per share. If you’re neutral to bullish on Amazon, you could sell put options that expire on July 17 with a $2,615 strike price for $28 per option. To limit your risk, the other leg of the trade is to purchase puts at a lower strike price, $2,610, for a cost of $26. That two-dollar differential (multiplied by 100) generates $200 for every contract you sell. Do three contracts and you generate $600. If Amazon closes on July 17 above $2615, you’re in the clear and keep all of the proceeds, as both puts expire worthless. If the stock closes below $2610, you will encounter your maximum loss of $900: $5.00 (difference between strike prices) minus $2.00 (proceeds earned up front) times three contracts.

>When the stock closes between the two strike prices, the put you bought at the lower strike price expires worthless, but the one you sold is in the money and legally binds you to buy the stock at the strike price. In the case of three contracts of $2,615 Amazon puts, that would be $784,500 to purchase 300 shares. Over a weekend say, you may see a -$784,500 debit to buy the stock, but you would not see the stock among your holdings until Monday.

>Kearns may not have realized that his negative cash balance displaying on his Robinhood homescreen was only temporary and would be corrected once the underlying stock was credited to his account.

>>19775759
This. You guys gotta learn this shit before trading options.

RH constantly hides behind "oopsie whoopsies it was a bug so sorry" but there are going to be serious consequences for them.

>>19771661
>GUH

>>19773201
This. Kid killed himself over fucking nothing.

>>19771986
It's fake you idiots. You literally can't go negative.