A Reddit trader claims to have raked in a $4.3 million gain by betting on Tesla's skyrocketing stock

"The Wolf of Wall Street"/Paramount Pictures

• A Reddit member with the username WSBgod claims to have made millions of dollars in unrealized gains from options linked to Tesla stock.
• A $126,000 investment was worth $4.3 million at the time of the user's Tuesday screenshot and carried a value of roughly $4 million by the session's close.
• A separate $46,491 stake in longer-dated Tesla calls was worth nearly $1.4 million, according to a separate screenshot.
• If WSBgod didn't sell the positions on Tuesday, the trader stands to lose a large portion of their profits from Tesla's Wednesday tumble.
• Watch Tesla trade live here.
• Visit Business Insider's homepage for more stories.

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One trader claims to have enjoyed a $4.3 million gain from Tesla's soaring shares.

A member of the WallStreetBets subreddit forum with the username WSBgod posted screenshots on Tuesday detailing a position in Tesla call options made through a Roth IRA account. The price of the options contracts soared over two days as the automaker's stock tore 36% higher, swelling the trader's $125,868 investment all the way to $4.3 million by the end of Tuesday.

See the rest of the story at Business Insider

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See Also:

• Elon Musk made almost $12 billion in the past week as Tesla's stock soars. Here's how the eccentric CEO makes and spends his $45.2 billion fortune.
• Renowned strategist Tom Lee pinpoints why exactly Tesla has surged 100% in just a month — and explains why it's still one of his top stock picks of 2020
• The best men's wallets

from Business Insider https://ift.tt/3bgTw9N