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Trader says he has ‘no money at risk,’ then promptly loses almost 2,000%
Investing legend Jack Bogle once said that “if you have trouble imagining a 20% loss in the stock market, you shouldn’t be in stocks.” He didn’t mention anything about a 2,000% loss though. That’s where 1R0NYMAN comes in. The anonymous trader/internet hero created a stir on Reddit earlier this month with this absolute corker of a trade . It’s called a box spread, a four-sided options strategy billed, in theory, as a riskless arbitrage play using call and put options. In this case, it started with a $5,000 “investment” executed through Robinhood, a no-commission trading platform. Clearly, 1R0NYMAN ... (full story)
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