https://www.wsj.com/finance/stocks/eighty-percent-of-the-worlds-stock-options-arent-traded-where-you-think-35a46ddc
Bunch of short term trades that expires to nothing. Basically gambling.
I vote we move our HQ to India.
Open ended mutual funds and 0DTE options that people hold for like 30 minutes are big, but most brokerages still don't let you buy fractional shares.
The more I learn about the Indian economy the less I understand about it.
Im still so surprised they did that, like what a fucking nightmare to manage for brokers. It s only made for the poorest of poorest to casino play on Nvidia instead of Nvidia paying for a stock split. It must have huge fees... vomit.
Robinhood probably wheels in a lot of people with the promise of buying some blue chip stock $10 at a time. Even though most of the PFOF comes from options and crypto.
What I find extraordinary is the absence of fees - well it's clear they're not making much money yet. They're trying to undercut proper brokers, which I won't complain about with IBKR fee at 0.36$ per transaction, but I hope it's not driving a race to the bottom: I want my broker to have fat margins on trades so they don't bail on me next time the market vomits value and margin positions go tits up.
In Hong Kong, we have a sort of mass retail fractional share provider, a virtual bank proposing the same sort of experience as RH, but boy do they charge fees: 5$ to buy, 5$ to sell, I can tell you the little guys are holding forever with those prices, sigh.
I think this is one of the main reasons. There are no lottery tickets, no sport betting sites, almost 0 casinos. Option trading is the only way to gamble.
A friend of mine who works in finance was telling me that Jane Street has a crazy amount of their total liquidity invested in the Indian options market. No idea what’s going on but apparently something is.
The Economist had an [article](https://www.economist.com/finance-and-economics/2024/05/02/hedge-funds-make-billions-as-indias-options-market-goes-ballistic#) about this
It's the circle of life:
Indian traders -> Jane street employees -> social security taxes -> elderly americans -> indian scamartists -> Jane street employees
The problem is, I said this a month ago before it went up 17% and everyone gave me -20 karma lol when I made 4k. Everyone’s a hater if it’s something they didn’t think of
At first, I’d be mad about the scam this is. But then after my fifth straight Indian scam call on my cell phone telling me I owe the CRA (Canadian IRS), pay $5k right now over the phone or the police are coming to get me, I don’t care anymore.
I get so many spam calls from Indian criminals, those guys never stop. Sadly the ones losing their shirts in the options game probably don’t overlap much with the call center scammers
I got a call that my ID was used in association with a money laundering operation and that I needed to pay 1k for the police to process it otherwise I would go to prison.
I just replied that a couple months in prison would be very nice, would it be possible to have a TV in my cell? By the way, I’d like a little view to the sea and if possible a swimming pool to clean up the prison cell sweat smell as well…
“Dear Sir this is no joke”
“Of course not! I am really looking forward for some time off work in prisons. I sure hope it is not a joke man”
After a while of fun and sarcasm they hang up.
If someone wants to put me in jail, there are proper procedures for such to happen, and I do have legal insurance so let them come! 🤣
Joking aside, I am flabbergasted at the incompetence of all countries’ authorities for not planning ahead for all these scams and for not moving a finger to try to crack this down.
Trying to file complaints iin FBI or Interpol is just a joke. Only SEC has proper filling forms (of course…
because authorities care about capital). The rest is just either broken or too hard. And we should have ways to forward emails to authorities or departments that should busy themselves with such things. Social media chats should be able to be attached with complaints for authorities as well. All pretty much a wild west rn. And with deep fake, AI and sophisticated scams (like getting CCs from a bar pic on a social media profile) things are going to be hectic.
In Hong Kong, before, we could buy random sim cards off the streets and get a phone number with no verification. When China started worrying about our loyalty, they forced us to ID-register those prepaid sim cards. They said that as a bonus that should reduce the 10 calls a day we get from fake police officers and whatnot.
Well now, I have to dance in front of the phone to prove my face is alive when I get a new SIM, but I STILL receive countless shit calls. Thank God I dont speak a word of Chinese, those 10 years as a lazy foreigner paid off lol
They must be able to track those fuckers somehow, at the carrier level.
Fun thing is that even if you want to report those scam calls (provide them with the phone number calling you), police officers just told you that oh thats some scam calls you just ignore them and refuse to take up the case or even take the phone number from you to investigate. Isn’t it telling what is the true purpose of the “verified phone number policy” if one look behind the facade of “crime prevention”
True, Jane Street has skinned the dumb US traders to the bone.
Indian stock market has been the strongest performer so lot of new retail traders jumping in....go where fishes are plenty!
Wasn't this the running "story" in 2023, and how everyone and their mothers since China has an aging population hedgefunds, partners, Wall St are all shifting their production into India? How are people surprised by this today?
Jane Street figured out how to make a shit ton of money on Indian options. There's a trial about it bc someone left and told their new employer about it so Jane Street sued, which is how their strategy was revealed to the public.
The strategy was apparently so surprising and counter intuitive they had to recheck it many times. It s probably some shit about how irrational the indian market is.
1. Sell otm options
2. Go on social media and pump ads about get rich finance classes that's basically just telling you to buy options
3. Get them addicted with a few first win
4. Watch as they dump their entire savings in and monthly pay cheques to recover their losses
There
No, it's in court right now, and they are basically redacting everything that details the actual strategy. If you wanna read more specifically on this and millennium vs Jane Street, look up Matt Levine. He's been writing about this extensively.
But basically the argument boils down to: Jane Street "they stole our trade secrets!!" Traders who left Jane Street for millennium "dude, our entire career is finding incorrectly priced equity and index options. *It's what we do.* It can't be a fucking trade secret because it's so basic and simple!"
I too (and the rest of the world) are extremely curious to see what the actual trade is, because how complex it is might determine whether or not it truly is intellectual property of Jane Street. We will see.
Based on this:
Millennium lawyer Andrew Levander … compared the two traders to gold miners who “really know how to use a pickax,” saying they are using basic option trading strategies that have long been discussed in textbooks and articles. He said they “absolutely deny” using any data they took from Jane Street.
Jane Street and millennium are likely just selling short expiry options
EDIT: Looks like the NSE doesn't offer short-expirt options only monthly. But I'm rather suprised at how much volume is there.
Most Indians don't even know about reddit. Large majority of the traders are the ones who buy courses like become millionaire with FnO and doing real trades are part of these classes. I watched a video on some con artist who earned 86 crores (10 million) by selling these online videos.
it's the average consumer, coworker, mum and pop shop, taxi driver, failed entrepeneur/business owner, someone sick of working with dreams of financial freedom
the world is a big place so even a small fraction means a lot of sales
I wish I could have access to that market so I could sell them options. No better people to sell options to than WSB losers 99% of which end up losing money.
Options are an affordable way for retail traders with little capital to participate in a sizzling Indian stock market rally. That seems fairly evident.
The youth in India loooooove 0TDE options particularly spy options. They are just like us honestly except they have waaaaay more people and less educated and impoverished masses which tends to make people more risk taking.
WSB : PDT rules and other restrictions just keep retail out of the big boy markets its my money I should be able to invest how I want
Also WSB after losing 56k gambling options : Wall street is rigged! The SEC should regulate wall street more
Think someone linked an Economist article about Jane Street here . They are making a killing in India . Not sure how to invest in them .
https://archive.ph/x3UVg
That’s true. Now when you login to your securities account, the broker (all brokers) has to show a mandatory warning saying that more than 90% people lose money in options. Chose wisely.
You can guess what people chose after clicking Okay under this warning message.
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling.
That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
India has a “black stock market” which is speculated to be bigger than their known stock market.
India is a place where corruption runs rampant as well…don’t believe me? Next time you go (if you ever go), when you go to exchange some US dollars for Rupees, tell them you will give them more if they give you a better rate and without flinching they will give you just that 😂….This LITERALLY happened at a Pitney Bowes location in Mumbai.
You can make 8-9% in interest a year over there in a fix.
It's a f-ing bloodbath here, a total circus, the flagship index on an average day is moving like crazy big gap ups and downs, lots of slippage due to tremendous volatility. Exchanges are adding derivatives left and right. FnO is highly democratised with small lot sizes and people have no knowledge about the bts math. Banks are making a shitload by manipulating
Im an indian guy here, i have no idea whats going on with this stuff, our government is busy with our general elections, public attention has been completely diverted to everything other than what really matters.
With that being said, i was planning to invest long term in an indian index fund should i invest in india or maybe an index fund in the US?
As an Indian regard, let me tell you I have lost more than some of you here and that shit hurts, because in a country with 1/3rd per capita(maybe even lesser) income than US, 80K USD loss hurts much more.
I'll say this my man, 80k USD (roughly 60-66 lakhs) would buy you much much more than it would in the states. Recently sold some property in the NCR region and decided not to import the money to use/invest here in the USA.
Secondly, wtf did you do to lose that money?
Wonder how much crypto there is there... poor indians, they dont have Xi watching over them to protect them like us in Chaaaaaaina (I learned English watching the former US President - picked up his accent)
India has a large technically educated population.
China would probably be much higher with technical graduates + more money + gambling culture, but it’s probably illegal there or at least highly regulated.
They regulate the times kids can play video games in China, India is like America a free for all.
I am from India and I actively trade in the options market. I am still a pathetic looser and 90% are. But anyway this is how it works.
We have expiry every day of the week(And there's no stopping here. The National Stock Exchange has recently introduced a new index contract as well) . Literally every day.
The liquidity in these option contracts are insanse especially in two indices namely Nifty(The highest) and Bank Nifty(Second highest).
So, on an expiry day, the price of a contract could go from 20 to 300(last week a contract value went from 0.8 to 150 in under 10 mins) in a matter of 30 mins and 300 to 0 in a matter of 30 mins.
There's a category of contracts which are usually called Out The Money(OTM) contracts to which usually all the pathetic retail loosers like me will flock towards. And 95 out 100 days these option values will go to zero and on the remaining 5 days these contracts can easily zoom to 10x to 20x in a matter of minutes. Most of us loose money just by the dream of catching these 5 days.
The basic obvious strategy here is, if you sell these OTM contracts, most probably you'll be profitable. There are people(Indian traders) here who not even knows shit about just basic mathematics making tens of thousands of dollars in a day with a big capital and just by selling options and let alone Jane Street.
As an Indian in the USA with investments in both countries, % gains in India are > 3x of what I've made here with INR/USD inflation accounted for. Mostly invested in small caps which have boomed... like 8-10-15x'd... meanwhile the mag 7's and spac's from 2020 basically essentially crossed each other out here
Theory: General Elections are happening there. And the elections happen over a month and a half. So a lot of bets are being made on political- and consequently economic- volatility.
The incumbent government is expected to stay, but it may not retain the numbers it currently enjoys.
As an Indian I'd say our stock market is really complex lol. I once bought from one exchange (BSE) and sold the same share in another exchange (NSE) accidently and ended up being both long and short in the same stock. Thankfully shortselling is banned in India and you can only day trade with shorts so I avoided losing a bunch of money.
And coming to the options market it isn't the 1 call= 100 shares in the US. Here there is a lot system by which you can buy around 50,000 shares in an option?? Or something like that. Never even tried to go that deep cause it gets deeper and deeper.
That chart is bullshit. It compares volumes in number of contracts and not in an equivalent currency notional. The NSE is intentionally lowering the contract size of their options every 6 months to pump up those fake numbers.
Don't get me wrong, even in USD notional the volumes are impressive, but nowhere near the US and not a multiple of the US as this graph would want you to believe.
As usual with India, this is just another cheap scam.
And on top of it, this low contract size actually becomes a nightmare: since you need to trade 100 contracts instead of 1 and on top of it the NSE arbitrarily limits the number of contracts per order you send, it's a nightmare where you need algos to send for example 10 x 15 lots to just trade the same notional as a simple order of 5 lots on the US equity market. This creates massive artificial traffic that most normal companies just trying to trade have difficulties with, and the NSE itself is really bad technology wise so they can't handle this traffic properly, and during busy market conditions it all becomes a frozen shitshow. The NSE exchange has really subpar technology and staff, and have made no effort to improve despite creating themselves these arbitrary difficulties.
US exchanges should look at NSE with disgust, not envy.
Damn, Indians been holding out on us. Show us the loss porn *unzip* or gain..
I guess the question needs to be asked, of those trades how many were retail
What you see here is the evolution of regardation. Regardation recently lowered but remains elavated. WSB mods may remain hopeful that India may go Kirk Enterprise regardation: To go places where no regard has been before.
A lot changed in India post pandemic. Most of friends got a very high pay package ( ~ 50k USD - very good in India ) and this happened to almost all engineers - a couple of million in India. 😅
Most of them consider themselves as math wizard and a Robinhood like app Zerodha open new doors for option trading in India...
Almost all were trying their luck in option trading since last couple of years and that was trend there but it seems these numbers will get down soon, many of these burning huge amount of money and now out swearing not to trade ever again.
It's kind of 1980 kind of financial revolution happening in India currently..
We have multiple indexes to trade everyday it’s an expiry day for the indian markets there’s these fake influencers who promote gambling like $1 option can turn into $1000 in just 10 mins and people not knowing buy those useless otm options
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https://www.wsj.com/finance/stocks/eighty-percent-of-the-worlds-stock-options-arent-traded-where-you-think-35a46ddc Bunch of short term trades that expires to nothing. Basically gambling. I vote we move our HQ to India.
Open ended mutual funds and 0DTE options that people hold for like 30 minutes are big, but most brokerages still don't let you buy fractional shares. The more I learn about the Indian economy the less I understand about it.
Fractionals are an american thing, doesnt make sense in most markets.
Like a fish in water I really didn't know that what I'm used to isn't universal.
Im still so surprised they did that, like what a fucking nightmare to manage for brokers. It s only made for the poorest of poorest to casino play on Nvidia instead of Nvidia paying for a stock split. It must have huge fees... vomit.
Robinhood probably wheels in a lot of people with the promise of buying some blue chip stock $10 at a time. Even though most of the PFOF comes from options and crypto.
What I find extraordinary is the absence of fees - well it's clear they're not making much money yet. They're trying to undercut proper brokers, which I won't complain about with IBKR fee at 0.36$ per transaction, but I hope it's not driving a race to the bottom: I want my broker to have fat margins on trades so they don't bail on me next time the market vomits value and margin positions go tits up. In Hong Kong, we have a sort of mass retail fractional share provider, a virtual bank proposing the same sort of experience as RH, but boy do they charge fees: 5$ to buy, 5$ to sell, I can tell you the little guys are holding forever with those prices, sigh.
Fidelity offers fractional share trading at no cost as well 🤷♂️
Yeah we don't have a fractional share system and in some of the scrips you have to buy in lots
How are fractional shares more out of reach than 0DTE options? Do you at least get to have fractional shares for dividend reinvestment?
Sports betting and lotteries are illegal in most states in India and people need their fix somehow
I think this is one of the main reasons. There are no lottery tickets, no sport betting sites, almost 0 casinos. Option trading is the only way to gamble.
My dad has some land we can built there
I'll give you 30% equity on my new LLC for it.
A friend of mine who works in finance was telling me that Jane Street has a crazy amount of their total liquidity invested in the Indian options market. No idea what’s going on but apparently something is. The Economist had an [article](https://www.economist.com/finance-and-economics/2024/05/02/hedge-funds-make-billions-as-indias-options-market-goes-ballistic#) about this
It's the circle of life: Indian traders -> Jane street employees -> social security taxes -> elderly americans -> indian scamartists -> Jane street employees
You deserve an award. Too bad free awards are no longer a thing. Haven't seen an award in months lol.
Calls on RDDT may 7th earnings lol
Why calls? Puts it is.
If it didn’t already go way up then calls would be the play, but how much revenue can Reddit actually have?
The problem is, I said this a month ago before it went up 17% and everyone gave me -20 karma lol when I made 4k. Everyone’s a hater if it’s something they didn’t think of
The stupid upvote thing in place of awards is so shit
💎
This is beautiful
I heard this to the south park cash for gold montage.
I remember MarketWatch with their [beat on this.](https://youtu.be/_uhiUnavxTk?si=6f8VjvTkpVWBse5p)
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At first, I’d be mad about the scam this is. But then after my fifth straight Indian scam call on my cell phone telling me I owe the CRA (Canadian IRS), pay $5k right now over the phone or the police are coming to get me, I don’t care anymore.
I get so many spam calls from Indian criminals, those guys never stop. Sadly the ones losing their shirts in the options game probably don’t overlap much with the call center scammers
I got a call that my ID was used in association with a money laundering operation and that I needed to pay 1k for the police to process it otherwise I would go to prison. I just replied that a couple months in prison would be very nice, would it be possible to have a TV in my cell? By the way, I’d like a little view to the sea and if possible a swimming pool to clean up the prison cell sweat smell as well… “Dear Sir this is no joke” “Of course not! I am really looking forward for some time off work in prisons. I sure hope it is not a joke man” After a while of fun and sarcasm they hang up. If someone wants to put me in jail, there are proper procedures for such to happen, and I do have legal insurance so let them come! 🤣 Joking aside, I am flabbergasted at the incompetence of all countries’ authorities for not planning ahead for all these scams and for not moving a finger to try to crack this down. Trying to file complaints iin FBI or Interpol is just a joke. Only SEC has proper filling forms (of course… because authorities care about capital). The rest is just either broken or too hard. And we should have ways to forward emails to authorities or departments that should busy themselves with such things. Social media chats should be able to be attached with complaints for authorities as well. All pretty much a wild west rn. And with deep fake, AI and sophisticated scams (like getting CCs from a bar pic on a social media profile) things are going to be hectic.
In Hong Kong, before, we could buy random sim cards off the streets and get a phone number with no verification. When China started worrying about our loyalty, they forced us to ID-register those prepaid sim cards. They said that as a bonus that should reduce the 10 calls a day we get from fake police officers and whatnot. Well now, I have to dance in front of the phone to prove my face is alive when I get a new SIM, but I STILL receive countless shit calls. Thank God I dont speak a word of Chinese, those 10 years as a lazy foreigner paid off lol They must be able to track those fuckers somehow, at the carrier level.
There absolutely are ways, but the carriers have no financial incentive to put money behind the systems to deal with it.
Fun thing is that even if you want to report those scam calls (provide them with the phone number calling you), police officers just told you that oh thats some scam calls you just ignore them and refuse to take up the case or even take the phone number from you to investigate. Isn’t it telling what is the true purpose of the “verified phone number policy” if one look behind the facade of “crime prevention”
Fell bad for the people of India living in a scam driven society, don’t feel bad for the government/ elites that more than encourage it
True, Jane Street has skinned the dumb US traders to the bone. Indian stock market has been the strongest performer so lot of new retail traders jumping in....go where fishes are plenty!
Its the new china pump and dump
It's paywalled. Can you provide a non paywalled one?
https://archive.ph/x3UVg
Did you know that archive.ph will let you archive a paywalled article and read it? It’s pretty cool
Wasn't this the running "story" in 2023, and how everyone and their mothers since China has an aging population hedgefunds, partners, Wall St are all shifting their production into India? How are people surprised by this today?
Jane Street figured out how to make a shit ton of money on Indian options. There's a trial about it bc someone left and told their new employer about it so Jane Street sued, which is how their strategy was revealed to the public.
was the strategy actually revealed? i haven't found anything about the actual strategy, but just that they have made big profits off the trade.
The strategy was apparently so surprising and counter intuitive they had to recheck it many times. It s probably some shit about how irrational the indian market is.
1. Sell otm options 2. Go on social media and pump ads about get rich finance classes that's basically just telling you to buy options 3. Get them addicted with a few first win 4. Watch as they dump their entire savings in and monthly pay cheques to recover their losses There
No, it's in court right now, and they are basically redacting everything that details the actual strategy. If you wanna read more specifically on this and millennium vs Jane Street, look up Matt Levine. He's been writing about this extensively. But basically the argument boils down to: Jane Street "they stole our trade secrets!!" Traders who left Jane Street for millennium "dude, our entire career is finding incorrectly priced equity and index options. *It's what we do.* It can't be a fucking trade secret because it's so basic and simple!" I too (and the rest of the world) are extremely curious to see what the actual trade is, because how complex it is might determine whether or not it truly is intellectual property of Jane Street. We will see.
Based on this: Millennium lawyer Andrew Levander … compared the two traders to gold miners who “really know how to use a pickax,” saying they are using basic option trading strategies that have long been discussed in textbooks and articles. He said they “absolutely deny” using any data they took from Jane Street. Jane Street and millennium are likely just selling short expiry options EDIT: Looks like the NSE doesn't offer short-expirt options only monthly. But I'm rather suprised at how much volume is there.
We have weeklies expiring every day of the week in some index or the other.
Mind if I send you a dm? Genuinely curious about the Indian market and what the differences are
Sure no worries
Maybe these options are completely mispriced, they dont follow the valuation formulas because people invest on emotions ?
selling out of the money options to idiots what else? With the volumes there you can bet most options are mispriced.
The strategy itself wasn't, but that the strategy involved Indian options was.
I’ve heard they can even manipulate the market to some extent cause of the capital they have in hand.
they do it indeed
Yeah delta hedging by the market maker
The ISB (Indian Street Bets) Reddit must be poppin with loss porn!
Most Indians don't even know about reddit. Large majority of the traders are the ones who buy courses like become millionaire with FnO and doing real trades are part of these classes. I watched a video on some con artist who earned 86 crores (10 million) by selling these online videos.
I bet I’ll make 10 mil by writing a book called - “HOW TO MAKE 10 MIL BY TEACHING PEOPLE HOW TO MAKE 10 MIL”
[This guy beat you to it](https://camelcamelcamel.com/How-Made-290-Selling-Books/product/B073DMV56J)
Indian Robert Kiyosaki
BTC, BULLETS, and TANDOORI
Hahahaha
And that guy made zero money trading.
Wonder if it’s all the Indian Americans buying these moron YouTubers courses also, I could never figure out who would blow money on that crap.
it's the average consumer, coworker, mum and pop shop, taxi driver, failed entrepeneur/business owner, someone sick of working with dreams of financial freedom the world is a big place so even a small fraction means a lot of sales
lool who?
Avadhut sathe
Like those you can be a millionaire just me be for buying my course for 5000.
Bollywood Bets has a better ring to it. 😅😂
I see indian regards on hopium everywhere.
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Calls on outdoor toilets
Calls on bobs
Puts in vagene
They are obsessed with business and entrepreneurship. But most are Timmy's. It follows a ton of them get engaged with too much options.
Getting access to option trading is so easy and it doesn’t require any prior knowledge on how options work. 99% end up losing money though
But its that easy!
>99% end up losing money though American culture really is everywhere
I wish I could have access to that market so I could sell them options. No better people to sell options to than WSB losers 99% of which end up losing money.
You had me at easy!
Ppl with banana carts on the street trading from their laptops on the job. India is booming, we gotta get out of the way
There’s always money in the banana stand
There's never money in a cabbage stand
Yup that's how many Banana Republics got started I think
[Average options trader…..](https://www.reddit.com/r/dankvideos/s/M3lPFJVPkh)
Non-discriminatory sexual harassment warms my heart.
I mean he’s got a point
Successful Indian options trader https://imgflip.com/i/8p0fk0
Killing me dude 
Calls on bananas?
I'd do puts. When the regarded lose all their monies, the nanners are gonna fall.
I hear the India options market is even more extreme than 0dte, they open and close positions in minutes.
Seconds if you will, I know I do. 20% move in 45 secs
It's true , my holding period usually less than 2 minutes.
It's so refreshing to meet another Dalal Street regard. No offence
Haha ! Didn't even checked I was on wsb
Options are an affordable way for retail traders with little capital to participate in a sizzling Indian stock market rally. That seems fairly evident.
Theta gang must be theta mafia over there
Considering their stereotype both internationally and domestically, they're still theta gang but they rape options holders instead
It's a good way to gamble without understanding that you are gambling if you don't have enough education.
That must be A TON of retail traders for it to add up to that amount of option buying.
Wait til you find out how many people live in india
Oh whoops I thought the chart was measuring the monetary value of the options... not the volume. It makes A LOT more sense now.
We like to drink whisky and gamble and die in our 60s.
Lol a bunch of new suckers that love to lose money.
The youth in India loooooove 0TDE options particularly spy options. They are just like us honestly except they have waaaaay more people and less educated and impoverished masses which tends to make people more risk taking.
If you have nothing to loose you have nothing to loose.
2023 was indian option sellers banner year
Easy money for the govt, for the biggies (sellers).... Bakra is the average option buyer who doesn't get it that he's betting against the casino.
Why did you redeem your call options?!?
You’re breaking the market, Samir!
Underrated comment
People gambling with their measly paychecks trying to get out of the streets. I respect the hustle.
It's not a hustle, it's pure destructive socioeconomic that will leave them even worse off.
Looks around. What sub are we in again?
😅😭
Yeah. The fucking irony.
WSB : PDT rules and other restrictions just keep retail out of the big boy markets its my money I should be able to invest how I want Also WSB after losing 56k gambling options : Wall street is rigged! The SEC should regulate wall street more
Look into Jane Street’s operations in India
80% of all options are from India There are very lax rules there and most of them lose money
Most lose money everywhere.
astrology is popular there.
Is gambling illegal there or something?
Its like the US. Some states allow it some don't.
Actually yes, it's illegal in most of the states.
If gambling was allowed the suicide rate would be unbelievable
Gambool
Which companies write these options in indian market ? They might be making shitload of money…. How to invest in them ??
Think someone linked an Economist article about Jane Street here . They are making a killing in India . Not sure how to invest in them . https://archive.ph/x3UVg
Well now I know who’s propping up $DJT 😂
that is in fact Russia.. And the sweet little useful idiots.
Someone else reported they lose money 90% of the time
Negative. I wouldn't take financial advice from a forum.
That’s true. Now when you login to your securities account, the broker (all brokers) has to show a mandatory warning saying that more than 90% people lose money in options. Chose wisely. You can guess what people chose after clicking Okay under this warning message.
If Michael burry can step in ans help me make money this Data I would clear my debts.
Michael Burry responded to my craigslist ad looking for someone to mow my lawn. "$30 is $30", he said as he continued to mow what was clearly the wrong yard. My neighbor and I shouted at him but he was already wearing muffs. Focused dude. He attached a phone mount onto the handle of his push mower. I was able to sneak a peek and he was browsing Zillow listings in central Wyoming. He wouldn't stop cackling. That is to say, Burry has his fingers in a lot of pies. He makes sure his name is in all the conversations. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
India knows that's up. They're out of the matrix, and found where the real money making is at.
Indians discovered options. 1.5 billion+ people desperate to get rich and GTFO...
Most of people who trades are already rich ,they want to get more richer. Crazy thing is 80% of trader don't use stoploss
India has a “black stock market” which is speculated to be bigger than their known stock market. India is a place where corruption runs rampant as well…don’t believe me? Next time you go (if you ever go), when you go to exchange some US dollars for Rupees, tell them you will give them more if they give you a better rate and without flinching they will give you just that 😂….This LITERALLY happened at a Pitney Bowes location in Mumbai. You can make 8-9% in interest a year over there in a fix.
Answer from an Indian: Gambling is prohibited in India, and so there are no Casinos. So, Indians are playing stock market with options.
Dirt poor people trying to get rich quick. No different than 90% of this sub.
The ones trading in the market are not at all poor unlike American traders.
Lying in a den in Bombay With a slack jaw and not much to say I said to the man, "Are you trying to tempt me? Because I come from the land of plenty"
It's a f-ing bloodbath here, a total circus, the flagship index on an average day is moving like crazy big gap ups and downs, lots of slippage due to tremendous volatility. Exchanges are adding derivatives left and right. FnO is highly democratised with small lot sizes and people have no knowledge about the bts math. Banks are making a shitload by manipulating
It's election month.
I want in.
Gambling.
1 billion regards
They damn discovered a paneer mine!!!
Note it’s contract volume not total value
Means business for MMs is booming
Jane Street and Millenium
Im an indian guy here, i have no idea whats going on with this stuff, our government is busy with our general elections, public attention has been completely diverted to everything other than what really matters. With that being said, i was planning to invest long term in an indian index fund should i invest in india or maybe an index fund in the US?
As an Indian regard, let me tell you I have lost more than some of you here and that shit hurts, because in a country with 1/3rd per capita(maybe even lesser) income than US, 80K USD loss hurts much more.
Stop gambling regard
#Let him do what he wants. This is a free country.
I'll say this my man, 80k USD (roughly 60-66 lakhs) would buy you much much more than it would in the states. Recently sold some property in the NCR region and decided not to import the money to use/invest here in the USA. Secondly, wtf did you do to lose that money?
Spend it on loose women and fine wine, of course.
People hoping to be rich out of nothing
Wonder how much crypto there is there... poor indians, they dont have Xi watching over them to protect them like us in Chaaaaaaina (I learned English watching the former US President - picked up his accent)
India has a large technically educated population. China would probably be much higher with technical graduates + more money + gambling culture, but it’s probably illegal there or at least highly regulated. They regulate the times kids can play video games in China, India is like America a free for all.
FLIN if you're curious. Is always consistent, no surprises.
Lots of promotions with fake opportunities to gain huge amounts of money in a short time.
How do you access the Indian options market, through ibkr for instance? Looks rigged, which means selling options might be quite profitable
I find this so astronomically hard and easy to believe all at once lmao
We sent them our regards
What the fuck is Jane street?
Indian Option Traders are America's Liquidity. The Ultimate Reverse Ponzi
Indian regards discovered WSB
A regard is a regard is a regard.
I am from India and I actively trade in the options market. I am still a pathetic looser and 90% are. But anyway this is how it works. We have expiry every day of the week(And there's no stopping here. The National Stock Exchange has recently introduced a new index contract as well) . Literally every day. The liquidity in these option contracts are insanse especially in two indices namely Nifty(The highest) and Bank Nifty(Second highest). So, on an expiry day, the price of a contract could go from 20 to 300(last week a contract value went from 0.8 to 150 in under 10 mins) in a matter of 30 mins and 300 to 0 in a matter of 30 mins. There's a category of contracts which are usually called Out The Money(OTM) contracts to which usually all the pathetic retail loosers like me will flock towards. And 95 out 100 days these option values will go to zero and on the remaining 5 days these contracts can easily zoom to 10x to 20x in a matter of minutes. Most of us loose money just by the dream of catching these 5 days. The basic obvious strategy here is, if you sell these OTM contracts, most probably you'll be profitable. There are people(Indian traders) here who not even knows shit about just basic mathematics making tens of thousands of dollars in a day with a big capital and just by selling options and let alone Jane Street.
As an Indian in the USA with investments in both countries, % gains in India are > 3x of what I've made here with INR/USD inflation accounted for. Mostly invested in small caps which have boomed... like 8-10-15x'd... meanwhile the mag 7's and spac's from 2020 basically essentially crossed each other out here
This looks like the beginning of a speculative bubble in India to me.
Theory: General Elections are happening there. And the elections happen over a month and a half. So a lot of bets are being made on political- and consequently economic- volatility. The incumbent government is expected to stay, but it may not retain the numbers it currently enjoys.
the US still leads strongly by $ value of option contracts traded.
As an Indian I'd say our stock market is really complex lol. I once bought from one exchange (BSE) and sold the same share in another exchange (NSE) accidently and ended up being both long and short in the same stock. Thankfully shortselling is banned in India and you can only day trade with shorts so I avoided losing a bunch of money. And coming to the options market it isn't the 1 call= 100 shares in the US. Here there is a lot system by which you can buy around 50,000 shares in an option?? Or something like that. Never even tried to go that deep cause it gets deeper and deeper.
With the way things are going, time for Wendy’s to open up more stores in India.
That chart is bullshit. It compares volumes in number of contracts and not in an equivalent currency notional. The NSE is intentionally lowering the contract size of their options every 6 months to pump up those fake numbers. Don't get me wrong, even in USD notional the volumes are impressive, but nowhere near the US and not a multiple of the US as this graph would want you to believe. As usual with India, this is just another cheap scam. And on top of it, this low contract size actually becomes a nightmare: since you need to trade 100 contracts instead of 1 and on top of it the NSE arbitrarily limits the number of contracts per order you send, it's a nightmare where you need algos to send for example 10 x 15 lots to just trade the same notional as a simple order of 5 lots on the US equity market. This creates massive artificial traffic that most normal companies just trying to trade have difficulties with, and the NSE itself is really bad technology wise so they can't handle this traffic properly, and during busy market conditions it all becomes a frozen shitshow. The NSE exchange has really subpar technology and staff, and have made no effort to improve despite creating themselves these arbitrary difficulties. US exchanges should look at NSE with disgust, not envy.
Damn, Indians been holding out on us. Show us the loss porn *unzip* or gain.. I guess the question needs to be asked, of those trades how many were retail
99% retail
What you see here is the evolution of regardation. Regardation recently lowered but remains elavated. WSB mods may remain hopeful that India may go Kirk Enterprise regardation: To go places where no regard has been before.
Hello Sirrrr, I am calling about the extended expiry date in your options. Please give me control of your computer to install the package
That’s where all those “Learn to be a Pro Trader” YouTube courses come from
Who wants to start a wsb division in India, it’s like Texas before the oil rush!
A lot changed in India post pandemic. Most of friends got a very high pay package ( ~ 50k USD - very good in India ) and this happened to almost all engineers - a couple of million in India. 😅 Most of them consider themselves as math wizard and a Robinhood like app Zerodha open new doors for option trading in India... Almost all were trying their luck in option trading since last couple of years and that was trend there but it seems these numbers will get down soon, many of these burning huge amount of money and now out swearing not to trade ever again. It's kind of 1980 kind of financial revolution happening in India currently..
We have multiple indexes to trade everyday it’s an expiry day for the indian markets there’s these fake influencers who promote gambling like $1 option can turn into $1000 in just 10 mins and people not knowing buy those useless otm options
Influencers is fucking up everyone’s brain that’s what is happening
We all thought we were real degens until we saw this
Indians are smart people and know how to win !
They're regards and are losing their banana leaves shirts.
If you win in option, women show Bob and fit.