So I have saved up $100K in savings but got slapped with an unexpected $1K hospital bill that I need to pay down in the next 1-2 weeks. I want to make an extra $1-2K in that time to pay down this bill so I can go back to normal: having $100K in savings rather than $99K. Do you all have any suggestions? Alternatively, I'd love to find out ways to make extra money from the $100K I have in savings. Are there any relatively simple and low-risk ways to make thousands of dollars off of my $100K: stock market potentially?
For reference, all of my accounts are in a BB I used to work at. I have $100K lying around in my checking account that I'm kind of afraid to move to my account at the BB because of the regulatory concerns around making trades (I won't trade off of confidential info obviously but am scared I'm being monitored closely all the time like all IB employees and can't be so free with investing).
I keep noticing the stock market is up and down by about 5-10% every 1-2 weeks, and I keep wondering if maybe I invested at the last low of a stock that keeps going up and down then maybe when it goes back up for a little bit in 1-2 weeks, then I can sell at that point and make a bunch of money? Obviously, I understand I shouldn't be putting that much into one stock but I do want to take advantage of the stock market as I haven't really ever invested in the stock market.
The max I'd be willing to invest honestly into something would be $20K so I guess I'm asking how to make $1-2K from $20K in 1-2 weeks.
My recommendation:
Make contact with a cocaine supplier
Secure 20k shipment
Cut drugs with creatine to maximize value
Sell drugs for profit
Rinse and repeat as needed
Ok
this is not “low risk” per say but if you know anyone that is skilled at spellings options you can get that money real quick. someone that really know how to capitalize on beta rn in SELLING not buying options should be able to get a handsome return with limited exposure even in this climate.
Not sure about you or OP, but I’m pretty sure I’m prohibited from trading options. Maybe just a HF thing, Id be surprised if IB cut off someone off from certain security types if they didn’t work with them directly.
you want a low-risk, 5-10% return in 2 weeks. Pick one
sell decently otm puts. otherwise start a payday loan biz and be a dirty slumlord
Industry tag says you’re in PE so assuming that’s true.... just wait for your next paycheck to hit bro that’ll be like $4-6k problem solved
Stop being a cuck dude, it's 1-2k, you'll make it back in a month or two
A hospital bill is out of your control. Sometimes you just have to take a small loss.
I know the neurosis involved with money, staring at a number and wanting it to be past an arbitrary figure, but all of that is not worth it.
Seems illogical to me if you have 100k to be afraid of 1000 emergency bill. But if you want I can help you. And please do not listen to the above posters telling you to sell calls / puts... if there is a big move you will get banged and losses are unlimited...
How can some people not realize this is a troll (and not even an especially well hidden one)?
Sounds weird but I'm genuinely serious. I know it's not a lot of money given I have $100K but I also am scared to invest this money at all given I work at a heavily regulated BB and don't want to go through the hassle of compliance that people talk about. I also pay a large amount of my money in rent every month so it's not like it's super easy to get the money back.
Go on r/wsb and follow their tips
brutal
go buy 20k worth of HTZ stock (hertz car rental) At current price of 3.33 that is 6,000 shares Then sell 60 ATM (at the money) 2-week covered calls (implied vol is very high right now...but hard to say how long that will last, so do it now) This will yield you 20% return in 2 weeks. or $4k then when the calls expire, sell the stock and flatten your position
so long as HTZ doesn't declare bankruptcy, you'll do great
This aged well.
Haha can't say they didn't caveat "so long as HTZ doesn't declare bankruptcy"
Yeah sell a bunch of put options for stocks that your wouldn’t mind owning with an exercise price that you’re okay with entering at.
Or just nut up, pay the bill and take your 99k that’s just sitting there and losing value and invest it like a man
.
you can make 10% per week selling ocvered calls on the highest implied vol stocks.
yes, 10% PER WEEK...which is crazy high returns
the problem is that these are very volatile stocks....so you never know if you'll ,lose more than 10% holding the stock on any given day
Take $1k out of the $100K, pay the bill.
Send me $500 for my consulting services.
C'mon, man. I'm serious. I'm saving up my money for grad school. I don't want to be broke coming out of an MBA.
Okay, I'll cut my fee to zero. Just pay the $1k.
If you're looking for a "guaranteed" 10% return, why go to grad school. Just lever up, get a 10% return indefinite, you'll be more rich than just going to grad school.
Pay the bill and toss the rest into one of those online banks that pay over 1% interest.
play online poker and go all in with J9, literally cant go tits up
Invest in VectoIQ. Stock is going up 20% day to day
make a list of stocks that have very high implied vol you can either sell a naked put, or buy the stock and cell the covered call (basically the same outcome...but selling naked puts is more capital efficient...you don't need to tie up all your money in being long the actual stock). The P&L is basically the same
so anyway, there are stocks every week where the implied vol is so high that you can make 10% in the covered call / naked short put position (asuming the stock price stays unchanged at the current level)
here is a list of stocks that fit that criteria right now...sorted by implied volatility
JMIA AMC RCUS TLRY BCRX SGMS CHK
i would suggest creating a portfolio of naked puts sell $1,000 worth of naked 1-week ATM PUTS in each name
You'll collect $7,000 total at first. Most of that is implied volatility which will quickly bleed out. -or- buy 5k of stock in each name (35k total), and then sell the equiv ATM 1-week covered call When the call expires in 1 week, sell the stock to get flat (assuming the stock didn't get called away.)
Regardless, all these options expire in 1 week.
You should make a 10% return on the portfolio if the stock prices stay stable.
LOL caveat if the prices saty stable hahaha
If you had done the covered call strategy of this portfolio, on avg the portfolio is flat to small up...and you would have made a 10% return on capital from the options in 1 week.
stuff that up your pipe and smoke it
I have no idea how to do this call and put stuff and don't think I can even do it working in my highly regulated industry...
"low risk" "stock market"
You'd be more low risk to invest in my imaginary boutique startup gym than to invest in the stock market right now.
invest != trading
trading you can do it
investing...probably not
There are a bunch of checking or high yield savings bank accounts out there right now that give you a significant bonus, i.e. you get [$500] if you deposit [$20K] for [3 months] or something. I think Chase and Capital One for example, but there are a few. Since it’s risk free just use the $100K to sign up for a few of these. Only downside is having to open the accounts.
I never really understood how this works. Is there something wrong with opening accounts and depositng money then taking it out? If not, then why doesn't everyone just do that?
it's a hassle, and by the time you have 100k in a checking/savinvs, you probably don't care about $500.
Do you trade Ligma?
Good fish joke, I think...
I heard Bofa is good, can you confirm?
Any other ways I can make money on the sides? C'mon, guys. There has to be something else I can do. I'm barely working nowadays due to this thing so I have time to do other things. Just don't want to do anything too crazy where it becomes a compliance issue...
How about you do some research on passive income generation and value investing instead of suckling at the teet of WSO for ideas if you want true honest idea generation. Also pay the damn bill... It’s 1% of your fucking savings and is the lowest hospital bill i’ve ever heard of...
How am I going to invest when my bank is very restrictive with letting me invest my own funds? Also, your strategies aren't going to make me money in a few weeks, may be a few years...
you could write term/thesis/project papers and essays for high school and collage kids...would probably be pretty easy for you...and if you charge $50 per paper...20 papers = $1,000
I don't want to engage in unethical acts that could land me in jail. This is fraud and I refuse to stoop to that level for money.
I highly recommend that you try and post results. I will be taking bets on your attempt.
There are so many stocks out there that do this. You want me to tell a few or what? Can try this risky play with UAL...
realistically why don’t you just buy some ultra liquid vanguard ETFs and be done with it and put the rest in a high yielding savings account
Can you expand more on your preferred ETFS?
All at Vanguard: BND, VTI, VOO, VT, VXUS, just depends on what you're looking for, the average expense ratio between them in 0.05% so it's cheap as shit
option gambling
Any good stocks to buy right now that are down that I can legally invest in? By legally I mean compliance would msotlye claer.
*mostly claer
How are you in banking and so incredibly clueless and lazy?
It's not that. I am scared about the compliance aspect and how I can make money in a safe way. I am waiting for the market to fall again so I can invest in at least VOO or something to make some return in the coming months. Maybe then I can pay off my $1K med bill...
i suppose you could look at upwork.com and look for work that you can do there.
STFU mate, this is clearly a troll post and a humble brag that you've got 100k in savings. I hope that COVID19 humbles you...
Quia dolor repellendus rerum et dignissimos et nihil est. Deserunt ut veniam ratione quia sint. Cum odio necessitatibus quis voluptatem iure qui qui. Illum dolores omnis aut ut nobis expedita cupiditate. Dolor saepe iste qui repellat et hic et. Ex iure ipsum aut omnis cum.
Sint non ipsum est voluptatum enim tempora praesentium. Qui et accusamus nemo qui velit voluptatem aut. Nulla quo mollitia repellat cum ad molestiae sint consequatur. Aut beatae sit ut maxime quia. Repellat nulla voluptatum magni quisquam aliquam nobis.
Temporibus itaque veritatis quam et odit. Non rerum unde et velit veniam eum. Quas culpa est et eveniet qui. Laboriosam vitae libero officiis soluta eum impedit. Beatae officia vel voluptatem voluptatibus maiores. Expedita accusamus ullam saepe quo unde numquam reiciendis. Culpa sint sit nesciunt asperiores nihil sunt.
Incidunt et impedit accusamus voluptatem sunt ut accusantium. Asperiores voluptatem rerum cum tempora quis repellat. Ut ad ea cumque ea. Aut quia ratione mollitia quod repellendus iure laboriosam molestiae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
A at suscipit ipsa optio. Maiores aut distinctio vitae ab debitis nam dignissimos. Cupiditate odio unde odio maxime. Rerum laboriosam enim repellat. Qui vel quam sed velit.
Animi aut repellat magni iste et sit facere. Assumenda voluptate illo rerum est dolor sequi. Voluptas reprehenderit laborum est et et. Deleniti quae autem laborum voluptatem doloremque quod qui. Magni earum nisi explicabo nam est deserunt.
Ipsam vel voluptate ut reprehenderit nihil quisquam ea pariatur. Impedit occaecati aut et ipsam sit dolor est. Fuga qui ea et iste. Sunt atque facere repellendus odio aut quia dignissimos. Rerum laborum quo suscipit error ut non pariatur. Fuga voluptate nesciunt impedit aut dolorum. Quod veritatis nesciunt suscipit necessitatibus reiciendis rerum error qui.
Iste fuga sequi praesentium rerum reiciendis ipsum. Nisi a veritatis aut culpa. Amet qui sint fugit voluptatibus quo. Tempore cupiditate qui velit aut magnam quos tempora.
Quis aspernatur quos necessitatibus animi adipisci in beatae qui. Saepe facilis illum voluptate. Est voluptas suscipit consequuntur ipsa. Omnis voluptatem et in ut enim. Ipsam neque illum veritatis consequatur. Unde facilis illum beatae sint. Molestiae enim voluptates amet aut sunt dolores ipsa.