ITS ABOUT THE CASH NOTHING ELSE.
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One millennial options trader was killing it, then Facebook cost him $180,000
Dennis Cao, a 24-year-old software engineer with a penchant for risk, just got caught on the wrong side of Facebook’s FB, +0.45% historic plunge. He says it cost him $180,000, or almost 40% of his account. Rather than slither away into the internet ether, Cao took his medicine on Reddit’s “WallStreetBets” forum, where he first announced his aggressively bullish, six-figure options play a few days earlier. He obviously didn’t bank on Facebook issuing a revenue warning and the carnage that would follow. Cao on Thursday posted charts capturing the decline: While some investors would understandably hole up in a ... (full story)
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