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Re: This trader bets it all on Apple getting crushed after earnings  

By: nacl01 in POPE IV | Recommend this post (2)
Wed, 01 Feb 17 8:49 PM | 45 view(s)
Boardmark this board | POPES NEW and Improved Real Board 		Msg. 19552 of 47202
(This msg. is a reply to 19372 by Decomposed)
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This is what his trades are worth today.
The first two columns are from DE's post. The next
column is the HIGH price so far today. The last
column is what the position is worth at the high.

AAPL Feb17'17 120	  150	27,141	0.39		5,850
AAPL Feb17'17 115	  350	20,052	0.04		1,400
AAPL Feb17'17 110	  700	13,840	0.02		1,400
AAPL Feb17'17 105	1500	13,063	0.01		1,500
AAPL Feb17'17 100	3000	12,876	0.01		3,000
				
Total						86,972			13,150

Looks like he lost some $75,000!

nacl


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The above is a reply to the following message:
This trader bets it all on Apple getting crushed after earnings
By: Decomposed in POPE IV
Mon, 30 Jan 17 9:52 PM 		Msg. 19372 of 47202

Tuesday... 

Published: Jan 30, 2017

This trader bets it all on Apple getting crushed after earnings

By SHAWN LANGLOIS
Marketwatch.com

Assessing the Donald Trump Show’s impact on markets will likely remain a top priority for most investors this week. For one desperate trader, however, the next few days are about all something else entirely: Apple’s earnings.

We first met F.S. Comeau back in April, when we interviewed the 30-something from Montreal for a story about WallStreetBets, a Reddit forum that rose to prominence over the past year for its irreverent and gun-slinging approach to playing markets.

Count Comeau among those that have experienced the lofty peaks and painful valleys of the group’s high-risk approach to trading. In fact, one particularly tough stretch landed him in the hospital with stress-related issues. That’s what hundreds of thousands of dollars worth of losses can do to a guy.

This Tuesday, he vows, will mark his last and boldest attempt to erase losses and reach market riches. In WallStreetBets lingo, his Apple bet — and our call of the day — is his “final YOLO.” For you non-millennials, that’s “you only live once!”

So what does Comeau do for his swan song?

Basically, he is using what’s left of his stash to bet big against Apple by buying put options that, according to Comeau, could net him upwards of a few million if his prediction holds true. But if Apple, which currently sits near $122, trades at $128 or above after the report — poof! — all gone.

Here’s a look at the trades:

Uploaded Image

Comeau is nothing if not confident — maybe too confident in this moonshot, although that tends to play rather well among the WallStreetBets crowd.

“IT IS SIMPLY NOT POSSIBLE FOR APPLE TO SPIKE UP POST-EARNINGS,” Comeau wrote. “It didn’t happen to Google, it didn’t happen to Western Digital, Qualcomm or even Intel or Microsoft, despite excellent earnings (which Apple won’t have).”

Famous last words?

Go here for his entire 5,000-plus word post explaining why he’s quitting trading for good, how “the stock market is rigged” and how a drop of at least 20% in Apple shares on Wednesday will earn him back the fortune he’s lost in the trading pits. The iPhone maker is due to post its quarterly results late Tuesday.

Some called Comeau out for a being fool, others snickered and wished him luck, and then there were several others who bought into the concept of the trade.

“Maybe I’m an idiot, but after reading that entire post, I’m in for some Apple puts,” writes OcculusResurrectio. “Not YOLO-ing, but the logic is pretty sound.”

So, we’ll check back in with Comeau and the rest of the WallStreetBets crew on Wednesday morning, but for now let’s take a look at what traders should keep an eye on after the mayhem of the last few days. Stocks are under pressure so far.

http://www.marketwatch.com/story/this-trader-bets-it-all-on-apple-getting-crushed-after-earnings-2017-01-30

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