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The sub-Reddit WallStreetBets , with the tagline "Like 4chan found a Bloomberg terminal," is rarely any of those things. The forum's , members dub satirical options-trade commentary over scenes from TV shows like It's Always Sunny in Philadelphia and rant about a loss that caused a member to get their "face ripped off. The chat does have Eddie Choi, however.
Choi said WallStreetBets taught him how to trade options -- contracts that offer the right to buy or sell a security by a specific date. Choi became a rock star on the forum last month after sharing details of his own big short -- playing Roku options.
The profit was so meaty because the puts Choi bought were close to expiration and far out of the money. Bloomberg confirmed Choi's account via screen shots of his Robinhood Financial trading history. A few days later, lightning struck again.
GameStop mania explained: How the Reddit retail trading crowd ran over Wall Street pros
Take, for example, a posting from joeyrb that offered an explanation of why the VIX Index hasn't spiked during the trade war:. Choi said he wants to avoid the spotlight, so he cashed out his much smaller big short rather than risk the ridicule of his online community. Skip to navigation Skip to content Skip to footer Help using this website - Accessibility statement.
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Choi credited luck -- and WallStreetBets. Digital Be informed with the essential news and opinion.
The GameStop stock frenzy, explained
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Keith Gill Drove the GameStop Reddit Mania. He Talked to the Journal. - WSJ
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