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The Reddit geek who raked in $100,000 with 2 trades is 'taking a small break'

3 monthes ago   |   By Business Insider

The Reddit geek who raked in more than $100,000 with two trades is taking a break from investing.
Eddie Choi turned less than $800 into nearly $108,000 by purchasing puts on Roku stock and SPY - the S&P 500 exchange-traded fund - then profiting enormously when they fell, Bloomberg reported .
Choi returned to WallStreetBets , the subreddit where he learned to trade options, to share the Bloomberg story and reply to comments about his watchlist, investing approach, and the significance of the windfall to him.
The Reddit geek who raked in more than $100,000 with two trades is taking a break...
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'Like 4chan found a Bloomberg terminal': Here's how one Reddit user raked in a 14,000% return on two simple trades

'Like 4chan found a Bloomberg terminal': Here's how one Reddit user raked in a 14,000% return on two simple trades

3 monthes ago   |   By Business Insider

A member of the Reddit page WallStreetBets grew $766 into $107,758 in two late-September trades, Bloomberg reported Thursday .
Eddie Choi first purchased put options for Roku stock, profiting $49,787 when the streaming provider's shares tanked more than 19% on September 20.
The trader then used his profits to buy put options for the SPDR S&P 500 ETF - or SPY - an exchange-traded fund that tracks the benchmark's performance. When its price tumbled on September 24, Choi's investment surged to $107,758.
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