Hi /biz/ I was unable to find any news about this. If this is a joke it got me good. Has this ever happened on reddit before? I am very curious about what went down. Give me your deets or guesses
>>1046071
can't say for sure whether or not it's a joke right now, but apparently it has happened before.
WSB ended up on /r/all and a bunch of normies showed up, so they shut the subreddit down.
Google the court order and see what it says
If I had to assume, they're probably illegally issuing investment advice, like everyone else on the internet. However, if what >>1046090
said is true, they could have caused harm to investors. That kind of thing attracts the SEC.
Some guy ran up $900 to $55k through yolo options. It got on r/all and retards were posting "how do i winz money"
>>1046287
They weren't yolo options. Everyone knew the s&p was going down. He just decided to go all in on it. It's not like there was an incredible risk of him losing the money
>>1046360
>b-but we all saw it coming, I just didnt want to make money
Kek
>>1046071
Its a joke. Weve done it before. The mods are weirdos.
So for this one some kid turned 900 bucks into 55k in 12 days (allegedly) which made us sibreddit of the day or something so they did this to troll
>>1046360
He bought options that expired the next day and required a 2% drop with all the money in his account (the $900). What do you think a yolo option is?
Reddit mods are seriously some of the faggiest motherfuckers alive. They have no power irl so they act hard online.
>>1046729
he didn't execute them, he sold the premium
>>1046729
He bought the puts and then sold them before expiration for less than their current value. For the big players out there, they could buy the almost expiring puts (1 hour left) and execute them for a quick scalp of profit.
Essentially it went like this
Buy 198 SPY puts for .30 per share while SPY is at 203
SPY goes to 190, puts are now worth $9 per share.
Sell 198 puts for $8.90 per share. Someone will buy for the .10 cent arbitrage.
And the guy in this example makes $8.6 on a .3 investment.
I do not know the real wallstreet bet numbers, but that is essentially how it played out.
>>1046409
>we
>us
Omg ur so cool ur part of an elite public message board omg
> put $900 in
> get 55k out
> rich have to make sure legit
Did you try clicking on the link taking you to Rick roll?
you faggots all got trolled that's all, holy shit /biz/ is full of autists
My guess is mods privated it and only old subs can see it still. I can still see it on relay app so I think its still up
