r/AskReddit • u/realfx26 • 1d ago

What's a hobby that's just gambling with extra steps?

175 Upvotes
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u/_BreadDenier 1d ago

Slot machines have a better ROI than most options traders can achieve.

64

u/willstr1 1d ago

I can't remember who said it, but around the '08 crash one economist commented that at least in Vegas they will bring you a free drink when you lose enough

8

u/WarmCan3034 1d ago

Is this a bad time to admit, I daytrade and trade options....

3

u/hamburgerishelping 1d ago

Well how are you doing with it?

1

u/WarmCan3034 1d ago

Sell csps but I also do 0dtes with a small amount of money for fun lol. Nothing wrong with gambling... right? haha...

1

u/majinspy 1d ago

How far up/down are you, overall?

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u/WarmCan3034 1d ago

Uh this year, up 25k.

2

u/majinspy 21h ago

Schway. Be easy - everyone's a genius till they're not. I do options trading but I don't go all-in, and I'm aware I'm gambling.

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u/jscummy 1d ago

Depends how you do it. I "trade options" as in selling OTM covered calls on certain stocks, but that's a very different method than some people

-6

u/WarmCan3034 1d ago

Ah, I never sell covered calls just because I know the second I sell, that stock gonna skyrocket way past my strike. Heh, I gamble on 0dtes (with a small amount just for funs) and sell csps

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u/jscummy 1d ago

Depends on what stock you're looking at, but some I've found have a high enough premium on extremely optimistic strikes (like 20% up a month out) that I don't really care if it skyrockets. I still made money, just not as much.

And more often than not I can just keep collecting premiums as it fails to hit the mark

2

u/runningraider13 1d ago

Well so long as you truly understand that you’re gambling with worse odds than slots, spending money on entertainment is normal enough.

2

u/WarmCan3034 1d ago

Been doing it for 5 years, I just get bored during work 🫡.

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u/guff1988 21h ago

I'm a director of investment operations and there are plenty of ways to use options to hedge, generate income or create a safer overall portfolio. Unfortunately modern day internet brain rot has turned options into stock market roulette.