'Like 4chan found a Bloomberg terminal': Here's how one Reddit user raked in a 14,000 return on two simple trades ROKU, SPY
Get the Full StoryOmar Marques SOPA Images LightRocket via Getty ImagesA 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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Reddit has pages for nearly every interest, from oddly satisfying videos to Spongebob-themed meme pages.
One corner of the site somewhat conservatively named WallStreetBets hosts stock-market fanatics obsessed with rolling the dice on high-risk "YOLO" trades. Those who lose tens-of-thousands of dollars seem to brag just as boisterously as those who land massive gains, lending credence to the sub-Reddit's tagline: "Like 4chan found a Bloomberg terminal."See the rest of the story at Business InsiderNOW WATCH: The US women's national team dominates soccer, but here's why the US men's team sucksSee Also:25 of the biggest failed products from the world's biggest companiesGOLDMAN SACHS: These 5 trades can help investors make a killing during a crucial earnings seasonThe chief strategist at a 1.3 trillion brokerage breaks down how traders are using Roku as a pawn in the great streaming wars
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