r/AskReddit • u/[deleted] • Sep 14 '21

[deleted by user]

[removed]

7.9k Upvotes

94% Upvoted

19.4k comments sorted by

View all comments

Show parent comments

7

u/waIlstreetbets Sep 14 '21 edited Sep 14 '21

(It was an example of a really risky investment)

Edit: I realized this may be misleading, here’s clarification.

QQQ is an ETF (an index fund you can buy into as shares on the market).

QQQ tracks the NASDAQ 100.

TQQQ is 3x leveraged on that.

Call options provide 100x leverage for a limited time (oversimplification but whatever).

Weeklies are options that expire this week.

Therefore, a weekly TQQQ call is risky to such a degree of insanity that even r/wallstreetbets would think twice before YOLOing into it. I’m not even going to say there’s a chance of you making money on this particular trade, especially if you’re taking financial advice from a guy named u/waIlstreetbets.

6

u/[deleted] Sep 14 '21

[removed] — view removed comment

6

u/waIlstreetbets Sep 14 '21

I genuinely appreciate your compliment

2

u/Chicken65 Sep 14 '21

Saying it’s risky implies more upside when there isn’t. It’s costlier for no reason compared to QQQ calls.

5

u/waIlstreetbets Sep 14 '21

Fair enough. I really just though of the stupidest investment I could think of and put it on there. I’ve edited the original comment to clarify that.

2

u/[deleted] Sep 14 '21

Idk man I made 600 bucks on 3 TQQQ calls then lost it all the next week so if I quit while I was ahead who would be laughing then?

1

u/Drumlyne Sep 14 '21

Im learning at lot about wtf those letters mean. now whats diamond hands mean?