Reddit user turned 3k into 23k in a week

Reddit trading community is buzzing with excitement as user u/ando421 shares their astonishing trading journey, turning an initial $3,000 investment into a staggering $23,000 in just a single week. The trader’s audacious options plays have captivated the online trading world, offering both inspiration and cautionary lessons.

In a recent Reddit trading post, u/ando421 recounted their rapid ascent to trading success. The reddit trading began the week with a modest portfolio valued at $3,000 and wasted no time in executing a series of daring options trades that would soon yield impressive returns.

The focal point of u/ando421’s trading exploits was the SPY (S&P 500 ETF) options. They held SPY 9/21 445p and SPY 9/22 442p contracts. Their positions included approximately 15 contracts of the 442p. When the market started to show signs of decline, u/ando421 seized the opportunity to double down, purchasing an additional 15 contracts at an average price of $0.90 per contract.

The real breakthrough occurred at 2:30 PM, as the market took an unexpected upward turn. By the following morning, the 442p contracts had surged in value to an astounding $8.20 each. However, u/ando421 admitted that they had sold a few of these contracts the previous day when they were valued at approximately $4.00 each. They also highlighted the missed opportunity with their 445p options, wishing they had extended the expiration date to 9/22 instead of 9/21.

In addition to their SPY trades, u/ando421 shared their success with options in ADBE (Adobe Inc.) and TSLA (Tesla, Inc.). They held 2 ADBE 530p options expiring on 9/22, which surged from an initial cost of around $2.80 to an impressive $15.00. Furthermore, a single TSLA 267.5p option, also expiring on 9/22, increased in value from $1.80 to $10.00.

The Reddit trading post quickly gained traction within community, with fellow traders applauding u/ando421’s fearless approach and incredible profits. Many were amazed by the magnitude of gains achieved in just one week.

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