What's up guys and welcome to wall street millennial on this channel, we cover all things: stocks and investing in this video we're going to go over the greatest gains and losses on the wall street best forum from the past week. So we can learn from other traders. Experiences before we get into the video we'd like to thank our channel members who get access to these non-time sensitive videos one day in advance, they also get to vote on some of our video topics. First off we have user dvd gentleman, who is 412 options.

Yellow didn't go exactly as planned. He bought 5 000 contracts of 40 strike, calls on qqqj expiring on june 18th. He bought them at the price of 82 cents per share. His total cost basis was hundred eleven thousand nine hundred sixty dollars and fifty cents.

The qqqj is the nasdaq next gen 100 etf. This etf is composed of the 101st through 200th largest companies in the nasdaq, providing exposure to mid cap stocks. The qqqj currently trades at 32.75 cents, making his 40 dollar strike price 22 out of the money for an individual stock. This wouldn't be that much.

However, index etfs such as the qqqj, are far less volatile than individual stocks, so there's only a slim chance that will increase by 22 by his expiry date of june 18th. The qqqj hasn't performed that poorly over the past month. It is only down 6 from its all-time high, because his call is so far out of the money. Theta erodes its value very quickly and the value of his calls has decreased 84.

This resulted in a gut-wrenching 347 thousand dollar loss aside from the six-figure lost porn. Some wall street vets users noticed something else interesting about this screenshot. It shows his entire computer screen, including the dozens of tabs he has opened on google chrome. He has more than 30 tabs, most of which are youtube and reddit from his bookmarks.

We can also see that he is an avid gamer who plays minecraft and red dead redemption. The comment section appears more interested in his excessive number of tabs than his investment loss. The op maintains that he is not a tab order and just opened these tabs right before taking the screenshot regardless. We wish you luck on your future trades next off with user jmd 2004, who is down more than 124 000 on his fubo yolo, he owns 6 700 shares of fubo at an average cost basis of 40.93.

That makes his total cost basis. 274. 000. This position makes up 100 of his total portfolio value.

It appears that he initiated the position in late february. Unfortunately, fubo has not done very well since then losing more than 40 percent of its value. He is currently down 45.57 or 125 000 to make matters worse. He used margin to fund his initial investment in light of the stock's rapid decline.

Robin hood gave him a margin, call and locked his account from withdrawing money or making any new positions until he pays back his margin requirement. This puts the op in a very sticky situation. If fubo doesn't increase quickly, robinhood will likely forcibly liquidate his position and lock in an almost 100 loss on his equity. The op originally sold his gamestop chairs to initiate his fubo position.

He planned for it to be a quick trade hoping to sell for a small profit a few days later. However, as soon as he made the position, fubo started to tank as the stock continued to go down. He added more and more to the position in an attempt to lower his cost basis with the lower cost basis. He could make back some of his losses if the stock rebounds fubo kept declining day after day.

Eventually, he ran out of cash, so he used margin from robinhood gold to buy even more. This fateful decision ultimately led to the margin call he faces today. If he had more money, he would continue to dollar cost average his cost basis down even further. However, his position of 6 700 shares is so big that buying a few hundred shares at the current price of twenty three dollars would barely move the needle for his overall cost basis.

However, if fubo hits ten dollars per share, he plans to remortgage his house to buy more shares. This is the only way he could get enough money to move the needle on his cost basis. The tendency to double down on losing bets is a common phenomenon and is referred to as the monte carlo fallacy. It was originally observed in casinos after a gambler, makes many losing bets in a row.

They'll erroneously convince themselves that the losing streak has to break eventually. So they double down making the same bet again in a desperate attempt to make back their previous losses. This wall street best caesar suffered a similar fate. He originally intended his fubo position to be a quick trade, but as it moved against him, he kept doubling down, and now it makes up 100 of his portfolio.

Let this be a lesson to all of us: never gamble with money. You cannot afford to lose next. We have a short seller who made 50 000 in a single day, the majority of which was gains from a 750 000 short position on amc. However, he also has a comparatively smaller position in long aso and riot calls.

He has a massive portfolio worth more than a million dollars. His biggest position is in an 80 000 share short position in amc. This position is worth negative 753 000, but the op believes that amc stock will eventually go down reducing that liability. Besides short, amc shares, he is also long.

Eighty thousand dollars of aso calls and forty three thousand dollars of riot calls. After a bad day in the market for amc stock and most amc longs, the op's short position has made a significant gain in one day alone. He has profited thirty thousand dollars on the day alone, off the pain of amc stock and fifty thousand dollars total after academy sports increased six percent in one day, even riot blockchain made money today, meaning all three of his main positions were green. Today, it seems the only thing in his portfolio that is down is a small position in gamestop of only one share.

Gamestop was down seven percent, but luckily the op only had one share of it. The other losses in his portfolio were only an 85 cent loss on an arc etf and his amc hedges for his short position. Predictably, there are those in the comments section who attacked the op for making a short position against amc in the first place. It does take some courage to come out on wall street bets with such a large short position on possibly the second most invested stock on the forum too bad.

It couldn't have been a gain on any other stock. Next, we have user poor guide 5280, who is holding fubu stock, hoping for it to reach 30 dollars a share. He is currently up nearly 22 thousand dollars or 54 on 30 strike calls expiring in may, fubo tv stock has had a good past few days, probably indicating that the op bought the calls. Only a couple days ago, fubo tv is a tv streaming service that focuses on sports that went publicly last year.

It initially did well reaching more than 60 dollars a share, but since then has given up most of those games, the op's calls are still 28 out of the money, but they don't expire until more than a month from now. So hopefully, free book can increase in value by then, if it does not only the op but probably several other wall street best users will make money too. Otherwise the op will lose all of his unrealized gains as options theta eats away the gains he has now. In that case, he'd be better off selling those calls now good luck and congrats.

Next, we have an earnings trade that turned out well for a fellow wall street best user user jja331 noticed that the market was overreacting to an earnings release and bought contracts of calls on the company. Wd40 wd40 is a company that makes a single product. The silicone lubricant that is used for making door hinges stop squeaking. Last week they announced earnings, in which the ceo said that they were experiencing certain supply chain issues that would affect the company's ability to produce enough product to fully take advantage of the demand they were seeing on the news.

The stock immediately fell 13. That's where our wall street bets trader comes in, he said he saw the overreaction to the earnings, call and thought that people oversold after seeing that he took advantage of the dip and bought ten thousand dollars of slightly out of the money calls the op's investment thesis Was correct and over the course of the day, wd-40 stock rallied 6.9 percent from the lows. Those calls are now securely in the money and have more than doubled his investment over the course of the day. Some commenters are curious as to how the op even thought to watch wd-40 stock.

He said that he just follows: earnings each week and tries to analyze if any of them get oversold. After earnings get released to screen stocks, he uses the yahoo finance app to see which stocks are getting sold off hard. He gets his earnings radar from reading on reddit. He even admits that this particular play was risky, but it definitely worked out well for him.

Congratulations on a great trade, alright, guys that wraps up for this video, if you like, the content, make sure to smash that like button and subscribe for future uploads also make sure to check out our second channel wsm research, where we post dd on high growth tech Stocks finally follow us on tik, tok and instagram and we'll see in the next video. As always. Thank you so much for watching wall street millennial signing out.