I just bought 10 $500 Dec 31 2017 Ethereum call options from a stranger on Quora for $500.

This is the sequel to I just bought a call option for one Bitcoin from a stranger on Reddit for $300.

Update! Happy New Year. These options expired “in the money”. $500 upfront payment for the OPTION to buy 10 ethereum at $500. So if I buy each one at $500 and they are worth $750 each option is worth about $250 and 10 are worth $2500. That’s about 3.5 coins at the moment. I am going to use about 1 coin to reinvest in $2000 strike price options for next year. I am going to use 2 coins to invest in startups. I am going to use half a coin to take out twitter ads to warn people about whaleclub being a scam.

1. Since I bought a call option on bitcoin earlier this year I have been focused on Ethereum
2. I like the idea of call options not because they create reckless leverage but because they are binary. The ticker matters less to me than the end result.
3. Even though this is a zero sum trade, the counter party and I are not aversarial. No one on quora goes looking to scam me out of $500 right? He genuinely believes it will stay below $500 I believe there is a 50% chance at least that it is above $600 by Jan 1st. At $600 I make 2x my money at 700 I make 4x my money at 500 I lose 100% of my money and I am ok with that.