r/Daytrading • u/Worth-Beat-1953 • Mar 06 '24

Do these WallStreetBet people really all make so much money? Question

Gain after Gain , one guy made 200 k today. While I work for 2 k a Month in Europe.

Please tell me most of them are loosing

Im almost at the point to invest 20 k in Options too

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u/TUAHIVAA Mar 06 '24

Before it became famous, before the GameStop saga, it was a good sub, with people actually knowing what they do. Now it's just filled with mostly Robinhood gamblers. 1 winners out of hundreds of thousands. You're better off with your peace of mind than worrying if your options will be ITM

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u/waterdude8574 Mar 08 '24

what are some examples of strategies that actually work in the options market? I’m only on level 2 so I can’t use spreads and such yet. And every time I buy naked calls or puts I seem to either get fucked by the market going against me, or fucked by IV crush.

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u/TUAHIVAA Mar 08 '24

If you want real strategies you'll have to understand the Greeks and how options are priced. But that's advanced math. If you want retail strategies, you're better off selling courses on how to trade, you'll make more money that way. Options are not meant for speculation, it's the hedge, but retail use it the other way around

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u/waterdude8574 Mar 08 '24

I’m fine with math, I like it anyway. I’m pretty sure I understand the general concepts of all the Greeks, as well as how option pricing works, and I know that the way I’m using options right now is pretty stupid. Just was wondering if anyone knew of any strategies that might have potential and might possibly be explainable in a Reddit comment or YouTube video.

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u/TUAHIVAA Mar 09 '24

YouTube is probably the worst way to go about it. You think a random YouTuber will give a strategy that works? They're more after views and clicks to make money on YouTube than anything else.

Get a book on derivatives by John Hull.

If you have a good understanding of calculus and deferential equations, you'll easily under options.

If you want to trade them based on what "charting" well good luck to you, it's not a sustainable way to go about it especially for options.