The median net worth of a 70 year old American is $164k (many sources for this). I get the sense being 71 and only having $25k is a lot more common than you think. It's just as likely he ran into medical issues that broke him as it is he's a lifelong rube who keeps falling for cons. Honestly, if I only have $25k to my name when I'm 71, I'll probably be YOLO'ing it on something I believe in, regardless of how sensible it is. Without a socialist or lottery intervention, that man may never see a day of retirement in his life.

It is pretty remarkable what a few people shacked up together in one doublewide can do with just Social Security and Medicare.

I know of one guy near me who apparently lives that way - convinced a wealthy friend to just let him park his RV trailer on a remote corner of a private land holding. So no rent. No hookups of any kind, so I think he just occassionally drives it off property to dump sewage, reload with water. (Hopefully both legally). Solar and gennie for power.

Grandpa spent it all on 'roids. No one at 71 should look the way he does.

It's up in premarket. MAGAt morons think they are getting a good deal today.

Have you ever seen a stock where you absolutely, 100% knew that it would end up a penny stock? This is that.

The only question that remains is... when?

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How does Danny Hart sit down with balls that big?

Oops, someone dropped the ketchup. The premarket rise didn't hold up.

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I'm beginning to think that we are much more fucked than I thought.

Down 7%. Quality stock, good investment.

TriFloyd is buying more today. WHAT A BUYING OPPORTUNITY!!!

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How does Danny Hart sit down with balls that big?

$23.28 down more than 12% so far today

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''Sweeney - you can both crush your AG *and* cruise in dead last!! 😂 '' Murphy's Law

Diamond hands!!

So a more techinical question.. can a stock go to zero? I guess it just gets to penny stock status, and as long as someone is pumping money into the company it can be worthless stock and still a business for a long while.

Lets guess when it breaks the magical number $17.50

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Just Triing
Triathlete since 9:56:39 AM EST Aug 20, 2006.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.

Friday.

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How does Danny Hart sit down with balls that big?

At first I laughed, then I looked at the stocks slide, and think it could be It seems to be losing close to 10% a day, that would put Thursday in play even. It has to find support at some level, doesn't it ???

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Just Triing
Triathlete since 9:56:39 AM EST Aug 20, 2006.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.

I don’t see who in their right mind would be the ‘support’ for this dog of a stock.

We saw the pump phase. This is the dump phase.

Truth social has one asset. Trump. Or maybe more accurately, being Trumps voice.

Trump is 77 years old, has a terrible diet, is not in shape, and may be suffering from rapidly advancing dementia.

When Trump dies, this stock (if it’s not already there at the time) will absolutely become a penny stock.

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How does Danny Hart sit down with balls that big?

To stay on point with the thread...one of these graphs is the last month of DJT. The other is Heinz-Kraft.

I keep mentioning the put options...

It is true that options trader's are often just emotional gambler's.

The cost of puts do tell you something though ..

Puts Nov. $17.50 - price $8.20.

Summary:
Max loss- $8.20 (DJT is above 17.50)
Max Gain - $9.30 (if DJT goes to zero)
Break even stock price- $9.30

Ponder that for a second...

This is where I will plead ignorant. Can you put this in layman's terms? Assume that I am a 10 year old.

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How does Danny Hart sit down with balls that big?

If you are buying a put, you look at the stock price in November.

If the price is at 9.30 - its a wash. No one loses. So to some degree that is what they think the price of the stock will be in November.

Its wild that anyone would invest right now, seeing how the masses think the stock is going down ANOTHER 66 percent in a couple of months.

Its actually quite a bit worse than that.

1) You lose 100% of your investment, if the stock stays above $17.50.

2) You don't even break even until the stock drops below $9.30.

3) You earn a bit more than 100% if the stock goes to $0.00

Note:
A 100% loss is much worse, than a 100% gain -is good.
A loss of just 50%- would require a 100% gain on another trade to offset it

I wouldn't buy that Put UNLESS I was fairly certain that DJT stock is going to be worthless by November.

On top of the price tanking, etc. something else that is really interesting is the asymmetry of reporting. When the stock of truth social was around $65, trumps increase of net work of 6 billion dollars was on the front page of every single news source.

I havnt really looked, but its not on the front base of any news sources that trump has lost 4 billion dollars in a single week.

Even though I think the stock's value is zero, I don't think it will drop below $17.50 until next Tuesday.

Question is, will we see it major selloff once it drops below this target?

Best comment I've seen regarding DJT thus far today...

"When it dips into the teens, Matt Gaetz will want some of it." - @tobyben1472 on Threads

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How does Danny Hart sit down with balls that big?

That's the thing with Trump, you can't keep up with all his shit. It's just an endless spew that no one can keep up with.

Like trying to track his lies. While you are writing one down, he's already let 2 or 3 more go. You can't keep up with it.

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''Sweeney - you can both crush your AG *and* cruise in dead last!! 😂 '' Murphy's Law

This "investment" is a lot more elves and leprechauns - than balance sheets and legal accounting.

Please don't be insulted if you know this, but for a ten year old:

A put is a right to sell a share at a set price at a set date in the future. At that date if the price of the stock is below that of the agreed upon price you can buy it in the open market for the lower trading price and sell it for the higher set price. Since it is unknown what the price is in the future you have to pay for the option to sell at the set price.

Now lets do it with the DJT example:

In November you have the right to sell DJT at $17.50.
In order to have this right you must pay $8.20 now.
In November if the stock is at $17.50 or above you will not use the option and therefore you will lose the $8.20 you paid (max loss)
In November if the stock goes to zero, you will buy it at zero and sell it at $17.50 making $9.30 ($17.50 - $8.20)
In November if the stock goes to $9.30 you will buy it at $9.30 and sell it at $17.50 making $8.20 on the trade which is offset by the $8.20 you used to buy the option (break even)
Today the options market values the stock at $9.30 in November because that is the break even point.

(please note these are not the actual steps that you go through in options trading and things like the time value of money or exercising early are not figured in.)

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The first time man split the atom was when the atom tried to hold Jens Voigt's wheel, but cracked.

I struggle with this, When you buy a put option, you're buying the right to sell someone a specific security at a locked-in strike price sometime in the future.

Put Nov $17.50 - price $8.20 Means it will cost you $8.20 per share (typically done in 100 share groups so $820 now) to have the option to sell the stock at $17.50. So if stock is above $17.50 in Nov you wont execute the option since you can sell at market rate and make money.

If the stock is below $17.50 you will make the profit on the Market rate vs $17.50 so if its a a bust you make $17.50 per share or ($1,750 on the hundred) but dont forget you spent $8.20 ($820) to buy it. (where The $9.30 number comes from ($17.50-$8.20) to be in the money).

Another way to look at it your betting $820 that it goes down, payouts are if its at $17.50 you get nothing back, to win the bet it has to be below $9.30 at $9.30 its a draw you get the money you put in back out, if it goes to zero you make $9.30 or ($930)

I don't follow options markets, I have read a few articles, where their is so much short action out there, you basically can't short it cause it makes no sense. And I believe this is the math behind this, no one wants to sell you a put option that they lose on, so its priced such that the seller (who set the terms) is locking in a profit. Not that a bunch of folks think it will stay that high, if there were folks who thought it would go up or be up the cost of the put would be considerably less, as the seller expects to make money on the option side, not on the transaction cost side. ((My quick analysis others can give a more educated answer on why the pricing is what it is)

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Just Triing
Triathlete since 9:56:39 AM EST Aug 20, 2006.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.

Dave -

I think you have the basic gist. But maybe not the details.

A $17.50 put gives you the right to sell at $17.50.

Currently ....
It will costs you $8 20 to buy a Put option, to sell stock at $17.50 in November.

Some possible outcomes:
1) Stock is above $17.50 - you lose the $8.20 you spent.
(You won't use the option to sell the stock for $17.50. You can sell the stock for more than that without using the option).......
$8.20 loss/share

2) Stock is equal $9.30.
You spent $8.20 on the option, you can buy the stock for $9.30 and sell it for $17.50.
Total sale = $17.50
Total cost = $8.20 option + $9.30 for stock
Thus break even is $9.30

3) Stock is $0.
You can buy stock for $O.
You can sell for $17.50
Max Gain = $17.50 - $8.20 (option price)
Max Gain $9.30

One might say, that since the breakeven point is $9.30 - then this is some kind of estimated value.

Actually - percentage losses and percentage gains are not the same (i.e. a 50% loss is the same as a 100% gain).......

In short...
A rational person would believe this stock is very, very likely to be worthless before they would pay $8.20 for that option.