Need to turn $1000 to $2000, what would you do?
If a relative came to you and said they need to make this $1000 cash into $2000 in less than a month. What would you do?
Excited to hear from you guys!
Sounds like an interview question lol
covered calls on the vix is pretty nice
i was thinking options too, and nah i just sold my pc for 1k and thought i’d hear some ideas from people on here
Yeah, if you're looking to make 100% in a month, you'd probs need something with a shit ton of volatility or use a lot of leverage unless you know about a company with a great catalyst
Vix premiums aren’t even that juicy and selling theta in general won’t get you 100% gain in a year even in the most volatile stocks. And that’s not even considering 1k isn’t enough to buy a lot to sell a put or call against in any high IV ticker i know of (would have to have shares priced $10 or less).
If you want to 2x in the market in a short period you’ll need to yolo some calls or open spreads. Maybe get in warrants early for the next hot spac.
You're right lol shitty 3AM advice from me. On that note, would probably need under $5 / share because of margin requirements on highly volatile stocks.
Any financial solution you will give will be extremly risky. I would go for more oldschool stuff (maybe because I'm a 30+ now....):
- Go to a burger king manager, pay him $1000 to hire you. Earn $2000 in salary that month. Quit.
- Use the $1000 to rent a place and just earn $2000 with whatever job
- Buy an electric bike and work for Uber-eats
- Help people by phone/videocalls with IT problems (booming during COVID I presume) and attract clients by spending $1000 on google ads for this service. Even better: outsource it to India after day 7.
etc
etc
etc
etc
Financial alternative: roulette, bet $40 on red, if you loose: double the bet to $80 with same strategy. You loose again raise to $160, etc. If you are very unlucky (51%^5 = 3.5%) you are broke now. If you win, restart untill you are lucky enough to double.
With the roulette strat, you need to succeed 25 times in a row. I think that means you can only parlay that a little over 40%. Better to just put it all on red.
OTM tail-risk options baby
Payday loan ... with a competitive representative 1,000% APR. Veto friends and family, you know where they live... default risk relatively low vs the unknown. Also, it's almost Xmas time ... so lots of impulse shopping, easy ticket is the new PS5 with games extra controllers and accessories (easily get to $1k). Over-collateralise, so the PS5 with written down value 75% and extras 25%, and secure lien over other assets like watches or laptops. If they default, you're on ebay selling off their stuff or owning it yourself at discounted value. Either way, your paper profits are at least doubled in one month. Add to resume as Head of Lending ... and the rest is history
Work
Buy a stack of fake $100 bills. Take the real $100 bills from the starting pile of $1,000 and alternate each bill with the fake ones until you get to "$2,000".
Is the question how to double your money in a month, or how to make $1k in a month?
To make $1k you basically have three options, work a job or side job (make $250 a week, or effectively make $36 a day), take a highly risky bet(like gambling), do some research and take a hopefully less risky bet, the medium option of the three.
Its all about risk right. If you need to double your money in money, you would want to shade more toward investing or "gambling" it. Just remember, if it was that easy or full prove to double your money in a month, everyone would do it and you would have it figured out by now.
double your money, and I just bought 5oz of ⛽️ and have a seller
Ok
Tell them you'd do it in a night at the blackjack table
$1,000 parlay on bills -6.5 and 49ers -2.5 next week. $1k makes $2.5k so youd have an extra $1.5k left over
all of you are idiots. the correct answer is weed. $1k will get you at least 5oz if you buy in bulk. sell for $60 an eighth and that's $2,400. could probably flip it in 2 weeks, minus a hundred or so in gas money (don't want them to know where you live) and packaging.
i actually just did this lmao. i have a buddy who sells and gets profit
ayo, $60 an eighth???
You didn't say selling to middle schoolers was part of the plan hahaha
yea idk what hes talking about but its more of half that.
rule #1 in trapping, never sell to people who question the price, they're either stingy or narcs
didn't say I'd pay that, just saying I'd charge that; if it's fire and you're not in Cali or Colorado or Washington, people will pay that
This is the correct answer
who's still buying weed on the street? a lot of states legalized it even for recreational use, so just visit the closest state to you where it's legal and buy as much as you want (it will easily cover the cost of the ride + the weed will be good and not some trash from the street).
take a look at this, the street market is alive and well, even in states with legal weed. and if you think all weed off the street is trash, you just need a better plug
https://brownpoliticalreview.org/2020/01/the-state-of-the-marijuana-bla…
Legal weed is horrible. The gas comes from the plug's connects not some gentrified shop
Start a multilevel marketing company that preys on people that think they can get rich quick. Just put a fancy rose on the front of apparel and boom you have yourself a legal ponzi scheme.
And Bill Ackman will never short you because he’s had enough.
As Bill Ackman's seasonal pool boy, he might even help fund it
Sure. If you give me $1,000 ... I'll tell you exactly how to make $1,000 - have first hand experience and can instantly make you money. You will also get a free session to my next big hit, "how to make $1,000 from nothing". Numbers are limited, get in quick. *results may vary
Real answer: build out a model for voter turnout in the GA runoffs and then bet the $1k on predictit.com.
WPX Energy Stock
Take the $1,000 and put it in the bank.
Then go suck dick for money.
This is the only answer and what I came to the thread to say
Texas hold em cash poker games at a casino. Poker is the only game in a casino that is +EV since you are playing against other players instead of against the house. Back in the day I would play poker cash games at a casino at least once a month. I would typically sit down at a $2/$5 table with $500 starting and 8 times out of 10 would walk away with at least $1000, many times even $2000 or $3000. Most I've ever made in a single evening was $12,000 (getting big hands and putting coolers on other players). Table selection and patience is key. Avoid alcohol to stay on top of your game.
High vol approach would be to sit with the full $1000 at $5/$10 (100 BBs), but I would recommend $2/$5 or even a more conservative $1/$2 (with the lower limits, you might not be able to sit with the whole $1000, it would probably be something like $300)
If you run well, you can easily double your money in a single evening, but if you want to take it conservatively and play lower stakes, a month of grinding should be more than enough time to double your money (realistically you should be able to at least quadruple your money in a month)
Bring your $1k to the grand exchange... I'll double your money no problem.
Get on a sports book thru a friend. Throw $1000 down on your bet of choice. If it hits, you get the money, if it doesn't ghost the bookie and repeat
Smart parlays have a good shot of turning a bunch of -100 odds to a big +130.
SPY $420 Calls expiring on 04/20 next year.....whatever you bid, make sure it ends in $xx.69
No Limit Texas Holdem Poker Tournaments
Mon-Weds of next week (dec 28-30th) buy the dip on 160 strike Call options on TLT that expire in ~2 weeks (Jan 8th)
Put in a bid for 40 cents (last trade 49 cents)
You should be able to sell these for above 80 cents before they expire and double your money
edit: you can now buy these calls for 26 cents...i expect them to triple by mid next week
Maybe this gem will help you.
When I played runescape I would double people's gold pieces, until I didn't. This allowed me to make 100-300% of my money in under an hour.
I'd recommend a subway station or bus stop to double people's money.
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