Robinhood $100k Stock Options Challenge!

In this video, I kick off my challenge of taking my Robinhood account with less than ,000 and try to turn it into 0,000. Let’s goooo!

⎾ Video on stock options basics: https://youtu.be/RQ6eSPaBbxY ⏋
⎿ Video on taking ,500 to ,000: https://youtu.be/7iEZct-i6S0 ⏌

Follow me on Twitter for updates: http://twitter.com/daniel_inskeep

A few months ago, I made a video about how I turned ,500 into ,000 in one month by trading stock options. I did this back in March when the market tanked, and the way I made money was by buying put options, which essentially allows you to bet that a stock price will drop in value.

One thing I didn’t cover in that video was my Robinhood account, which also had some pretty massive gains at the beginning of the year. I ended up withdrawing a lot of those gains to ensure I didn’t lose them if the market changed or if I started getting unlucky.

Here’s the thing, though: Robinhood sucks for options trading. Anytime you try to buy or sell contracts, it tends to be really slow and oftentimes won’t fill the orders for a good price.

BEGIN THE CHALLENGE
So, why am I using Robinhood? Well, I’ve got a little cash sitting in this account and I’m willing to make riskier plays with this account to see how quickly I can grow it. About one month ago, I had just around 0 in my account. Now, I’m going to see if I can take this 0 account and turn it into 0,000.

On the morning of the presidential election, I bought 5 contracts of ACB – Aurora Cannabis – for per contract. My thought here was a lot of states had legalizing marijuana on their ballots, and if Biden were to win, the likelihood of it becoming legalized would increase, and this company would benefit. But just after the election, on November 4th, my account hit a low of 4.

The next day, once it became more apparent that Biden would win, however, my contracts more than doubled in value from to 2. I decided to sell 3 of them. The next day, ACB shot up even more, and I sold one of my contracts for 0 – over 800% profit. And, then on the 9th, I closed out my last contract for 0 – for a 900% profit.

This brought my account to 01.70.

I then decided to hop on a Wall Street Bets favorite – NIO. I bought 2 contracts for 9 each. It ended up shooting up that same day, so I sold one contract for 8 and a couple of hours later, sold the last one for 0.

This brought my account to over 00.

I then hopped onto the latest Wall Street Bets favorite – PLTR – Palantir Technologies.

Well, I timed it pretty perfectly, as PLTR took off like a rocket. The stock price increased 52% this past week, so this did wonders for my account. Here’s a breakdown of the plays.

Right now, my account is sitting at ,480.80. Up 156% for the week and 776% for the month.

I’m currently holding 1 contract of NIO, 3 contracts of Palantir, and 1 contract of Fastly, with about 00 sitting in cash.

I am now ,519.20 away from my goal.

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0:00 Intro
0:46 The Issue w/ Robinhood
3:08 The Challenge
3:36 The Trades
5:37 Current Account Value
6:09 What’s Next
6:38 Charting
7:32 Outro

#robinhood #stocks #options
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