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# The takeover cost him 2,271%
- URL: https://the-financial-darwin-awards.ghost.io/the-takeover-cost-him-2-271/
- Published: 2026-08-11T14:00:04.000Z
- Updated: 2026-08-11T14:00:04.000Z
- Description: A takeover, a dilution plan, an oil spike and one quiet earnings move erased $212,040 from four composite accounts.
- Author: Bryce Chandler

| GM. This is **The Financial Darwin Awards**.Monday brought a takeover, dilution, oil and earnings.Four trades lost $212,040.Here's what we've got today:📈Varex ratio spread meets takeover🚀Intel dilution at three times margin✅Brent puts miss the reopening😭Berkshire under-moves💬Numbers, copium and memes 📊 Damage report 📊$212KLost This Week3.0xHighest Leverage∞Lessons Ignored 💰 Darwin Award of the Day 💰Varex jumped 48.8% on Teledyne's $18.90 cash offer.u/ratio\_is\_defined bought one call block and sold two higher-strike blocks.The long calls cost $12,600; the shorts collected $8,400\. Debit: $4,200.Above the higher strike, one short call was uncovered.After the gap, the long block was worth $52,000\. Closing the shorts cost $143,200.Add the $91,200 close to the $4,200 debit. Loss: $95,400.**His defined-risk trade had one undefined leg.**His summary: *The second call made entry cheaper.* Not exit.9:425GBrokerage•••Closed position P&L\-$95,400.00▼ 2,271.43% • Closed Aug 10 1D 1W 1M 3M AllVREX 1x2 CALL RATIOLong calls $52,000, short calls -$143,200\-$91,200plus $4,200 debitThe extra short call got the memo.Ru/ratio\_is\_definedr/wallstreetbets • 3h agoWhy did the hedge become the tradeI reduced the entry cost. The exit sent an invoice. ⬆ 13.4k 💬 2.7k 🏆 544 awards**One-by-two spread:** buy one call, sell two higher calls.One short is covered. One is not.Past break-even, every stock dollar adds loss. 🫡 Today's casualties 🫡Casualty #1: The Future ShareholderIntel may sell $15 billion of stock. Shares fell 4.1%.u/dilution\_is\_future\_me put $300,000 under $900,000 of Intel. At 3x, 4.1% became $36,900.**The share count entered the chat. Margin stayed on speaker.**Dilution shrinks each existing slice. His broker called Tuesday.10:075GMargin•••Open position P&L\-$36,900.00▼ 12.30% of equity • 3.0x exposure 1D 1W 1M 3M AllINTC MARGIN LONG$900,000 exposure on $300,000 equity$263,100was $300,000The percentage came in triplicate.Du/dilution\_is\_future\_mer/stocks • 4h agoMore shares, less shareThe numerator entered the chat. ⬆ 8.2k 💬 1.1k 🏆 219 awardsCasualty #2: The Strait SchedulerBrent jumped 5% to $87.72 on Hormuz uncertainty.It rose another 1.5% to $89.01 Tuesday. u/hormuz\_will\_open\_by\_lunch paid $44,800 for puts.They fell to $4,480\. Loss: $40,320, or 90%.**The strait missed the calendar invite. He may be right after expiry.**8:315GFutures Options•••Open position P&L\-$40,320.00▼ 90.00% • Short-dated puts 1D 1W 1M 3M AllBRENT PUTSPremium paid $44,800$4,480was $44,800Geopolitics missed expiry.Hu/hormuz\_will\_open\_by\_lunchr/commodities • 2h agoThe deal is still closeMy puts are closer to zero. ⬆ 7.6k 💬 944 🏆 188 awardsCasualty #3: The Movement BuyerBerkshire beat profit estimates. Cash fell to $365.5 billion from nearly $400 billion.Shares rose 1.5%. u/volatility\_is\_the\_trade paid $58,400 for a weekly straddle.It finished at $18,980\. Loss: $39,420, or 67.5%.**Berkshire moved. Time value was not impressed.**11:185GOptions•••Open position P&L\-$39,420.00▼ 67.50% • Weekly straddle 1D 1W 1M 3M AllBRK.B WEEKLY STRADDLECall plus put premium $58,400$18,980was $58,400Direction was optional. Sufficient movement was not.Vu/volatility\_is\_the\_trader/options • 1h agoI was direction neutralApparently neutral and free are separate settings. ⬆ 8.8k 💬 1.4k 🏆 241 awards 📱 By the numbers 📱📈48.8%Varex's Monday jump💰$15BIntel stock it may sell🚀5.0%Brent's Monday rise📊50%Projected S&P 500 EPS growthThe market barely moved. The invoices did not. 📞 Bite-sized copium for the road 📞•**"It was defined at entry."** Risk changed terms. (u/terms\_and\_conditions)•**"Dilution is bullish if the cash is."** The denominator filed paperwork. (u/cash\_has\_a\_multiple)•**"The move happened, just not enough."** Options noticed. (u/catalyst\_adjacent)Dumb memes✅➡️📈➡️💰➡️😭Defined, then revisedPOV: the extra short call reads the merger.🚀➡️💬➡️📱➡️😭Catalyst, expiry, acceptancePOV: your thesis needs tomorrow.Rule: structure is not safety.Survive the clause you missed. Traders and P&L screenshots are satirical composites. Market data, earnings figures and price moves are real and dated August 8 to 11, 2026\. Not financial advice. Obviously. Look at us.**Stay liquid,**The Financial Darwin Awards |
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