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More Than a Dozen U.S. Officials Sold Stocks Before Trump’s Tariffs Sent the Market Plunging
(www.propublica.org)
this post was submitted on 22 May 2025
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politics
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What are SPY calls?
To add on to this, what I'm doing specifically... wait for Trump to say or do some really dumb shit, watch the SPY ticker... watch it drop off a cliff, and every time you see a giant red line with the thing going down, you buy as much as you can afford for a date that's like 3 weeks out (to make it as inexpensive as possible). I bought $40 worth of call options about 5 weeks ago and made around $1800 off it.
Oh and this is not financial advice, I'm a cloud engineer not a banker.
Like today! It's an indicator for "buy a call contract(s)"
I'm super happy and excited that someone on Lemmy asked me! It's buying a "call option" on SPY (which is an ETF of the S&P index - otherwise, it's basically a way to invest in the "stock market" blindly). So when you break it down... it's like saying "I can buy a lotto ticket that says "SPY will be > x as of y date" - If you're not familiar with how the market works *(and I sure as hell wasn't 2 years ago), if you buy an option, it's a contract to buy 100 shares of a stock. If you buy 10 options, you're basically on the hook to pay for 10x 100 shares of a stock; but here's the kicker... when you buy options, as long as you sell your options contract before the expiration date, you don't have to actually pay for the stock - so while your random ass gamble is becoming more and more likely; you can just sell off the profits you made to cash in before you're shelling out $44k on stock.