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is it 9:30 yet?”įor these speculators, the adrenaline rush turned to euphoria after Apple not only beat earnings expectations but announced a 4-for-1 stock split, luring more small investors to the iPhone maker’s stock party. As dawn approaches, “NBA Young Bull” announces: “Good morning future millionaires. Keep ya boi in your prayers,” says one user named JG. “Literally, NOTHING will make me sell my AMZN 10/16 calls tomorrow. For weeks, the club’s youthful members have been loading up on speculative call options using the mobile trading app Robinhood. gross domestic product plunged at an annualized rate of 33%. But members of this online enclave are partying, quite literally, like it’s 1999-the infamously frothy day-trading year before the dot-com bubble burst in March 2000.ĭespite the pandemic, Amazon, Apple, Facebook and Google have just released jaw-dropping financial results, a staggering $205 billion in combined quarterly sales and $34 billion in earnings during a stretch when U.S. Unemployment is soaring and governments worldwide are desperately trying to fend off economic collapse. It’s just after midnight on Friday, July 31, and the Todd Capital Options Community, a $20-per-month subscription Slack channel favored by thousands of novice options traders, is buzzing with life. By Jeff Kauflin, Antoine Gara and Sergei Klebnikov