Before Meme Stocks, WallStreetBets Traders Mainlined Options
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Crypto Boom in 2017: The surge in interest in cryptocurrencies in late 2017 led to millions downloading the Coinbase app, with a significant increase in trading activity.
- Shift to Options Trading: Following the crypto market downturn in early 2018, there was a shift towards options trading, particularly on platforms like Robinhood, attracting new traders.
- Risks of Options Trading: Options trading, while offering speculative excitement, comes with inherent risks due to expirations and potential for total loss.
- WallStreetBets and Risk-Taking: WallStreetBets saw an influx of users eager to try options trading, driven by a desire for quick financial solutions and the allure of high-risk activities.
- Impact on Young Traders: The gamified nature of trading apps like Robinhood, coupled with social dynamics on platforms like Reddit, fueled risk-taking behavior among young male traders, sometimes leading to significant losses.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
