Student levers up 500x on Robin Hood to hit $1.7M in margin from $3k ‘invested’

I wonder when this becomes a systemic risk or when the SEC wakes up

via Reddit:

After realizing I only had a few thousand dollars to gamble, I decided why not try this new “glitch”. After seeing people on the almighty wallstreetbets, wager a timid 50k or so on average with this new feature available, I thought it was only a clear choice to raise the average for the good of all. That’s how I found myself long over $1.7M in AMD shares and selling around $1.6M worth of calls. I was leveraged over 500x which now makes a great argument against my Forex trading friends and the weak margin they offer there. Thanks for listening to my TEDTalk fellow autists. May some of you follow in the great footsteps of 1ronyman, analfarmer2, and controlthenarrative.

preview.redd.it/ms4a9mmsrzw31.png?width=750&format=png&auto=webp&s=98db9a99858c55194a6d139883e043f6701236a2

Edit:

Big True

preview.redd.it/9j90deszuzw31.jpg?width=750&format=pjpg&auto=webp&s=936f785dbd18058ae004809224c723310872bb51

Edit 2:

Still wondering how I got approved for regular margin.

preview.redd.it/9l2nl4wn30x31.png?width=750&format=png&auto=webp&s=7df436cd5f133d894d6d2312bb4a5a57693f557e

Further proof and the climb from 100 shares.

preview.redd.it/bb1mqeei40x31.png?width=750&format=png&auto=webp&s=44735657dace6ab5a3c9c53c5134f91df42a29f4

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CNBC’s on Infinite Margin (no relation to CJP) on live TV.

www.cnbc.com/2019/11/05/some-robinhood-users-were-able-to-trade-with-unlimited-borrowed-money.html

Front page of Bloomberg AND CNBC. CTN is famous now, too bad he is too retarded to turn his newfound fame into cash and dig himself out of his $50,000 worth of debt.

This is good for Robinhood they are getting free press for their limited time offer of unlimited leverage! Every autist from New York to California are going to go balls deep in leverage

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