"It was diamond hands," said Omar, using the site's term for holding an option even after incurring extreme losses or gains. But he followed the mantra of the place where he'd first learned about options trading, the subreddit r/wallstreetbets, and held on. Omar knew he should probably sell the options before they became worthless.
What he was witnessing now, though, felt like torture.īy lunchtime, the stock options Omar had bought were down around $7,000 from their peak. Omar had invested $6,000 in Beyond Meat options in the days before that tutoring session he'd seen the value of that investment rocket up to almost $15,000. He should have been concentrating on the student he was tutoring in physics - a job he did during his free time while enrolled in a post-baccalaureate pre-med program - but Omar's eyes kept darting back to the Robinhood app open on his phone. (CNN) - Omar couldn't believe what was happening. Story by Jon Sarlin, CNN Business Illustrations by Max Pepper and Will Mullery, CNN This past week has been a banner one for Reddit\'s island of misfit investors.
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