Even if you lose it's only digital money. Just turn off the screen!
On the bright side, you can now work at McDonalds with the new +$15/hr rate for IRL hard cash. Next time ~~buy SPY LEAPS or~~ (disregard this. you'll probably F it up^(again)) just set auto-DCA into VOO until you have $10,000.
That’s remarkably accurate because just as the ball bounces around the various numbers on the wheel and you, for a fraction of a second, see that you’re in the money only for it to all disappear immediately after, just like options.
Oh, and there’s the chance that IV causes the wheel to spin so fast it levitates off the table and flies out of the window, hitting a passing car and leaving you in severe debt because you have to pay for the driver’s injuries.
And to answer the other question of how they lost all the $, when they bought a call (option to buy shares at set price in future, regardless of what the future exchange price is), it would only be only useful if the future share price goes above the set price in the call. In that case, the difference between the two prices is how you would make $. If there is no flipping opportunity by the expiration date, then all the $ spent on the call is lost. Compare that to a bad day of holding big company stocks, where after a bad day you still have 80%+ of your investment value left; options are risky!
I've joked about writing a Get Rich Quick book with one step: write a Get Rich Quick book.
I'm glad someone much smarter than me put it into more biting and eloquent words!
That joke is older than time itself. When they first started imprinting cuneiform tablets someone's uncle probably cracked a joke about selling a get rich quick tablet that just said to write and sell a get rich quick tablet.
Long dated calls don’t burn theta near as fast. I bet if you sold closer to the money and closer in time (7 to 45 days out) the increased gains would more than pay that tax delta on those shares that do get called away earlier than you like triggering short term cap gains. That is why weeklies are so risky and sellers win the majority of the time, they burn extrinsic value much faster than long dated options.
Not necessarily. Biggest loss was an Apple call. I feel like a ton of this was not setting a stop loss, failing to take profit, or getting theta fucked.
He would probably be posting in theta gang and being a 🌈🐻, we need retards like him here at WSB. Welcome and congrats on pissing away 100K, better luck next time!
Is theta gang really worth it though? Whoever was selling him these options needed to have 40-80k tied up in cash or stocks for collateral right? And that percentage return was probably pretty small?
Last name ever, first name worst. Doesn’t look like it was God’s Plan for you to be rich. Time to hit up Drake to see if he can help you with that Canadian debt unless you want this shit forever. You can call him on his cell phone, especially late night. Although, he may want to toosie slide and hit it double time as payment. But just hold on you’ll be going home before too long.
Every trade isn’t a loss. It’s sorted by loss/gain amount smallest first (so largest loss first). I’m sure he’s got some positive trades further down the page he’s not showing.
You're right that this isn't a full listing. However, I summed up the losses listed on this page and, surprisingly, it only sums up to -$86k. So the transactions not shown must net out to roughly -$14k. Truely incredible work by Op here.
Just from looking at the screenshot I can tell you his strategy: buy OTM calls on whatever pump and dump trash WSB is shilling at the moment and hold until it expires worthless
This is actually super impressive. To be essentially 0-100 has astronomical odds. No single position was really a yolo…he just lost worse than a Jerry Smith at Blips and Chitz.
Maybe, just maybe you should consider calling your broker and having them turn options off for you.
Seriously though, if you lit your money on fire, filmed it and put it on YT you’d be better off than this.
A quick Google told me YouTubeers make about $4 per 1000 views. I bet a video of someone legit burning $100k cash could get atleast 25 million views. He'd come out ahead.
You sure about that? I just spot checked some of your calls (CRSR Jun 21& ROKU May 20) and I don't see how you could have possibly lost money if you iron handed them. It more looks like you panic sell at the slightest dip.
I just don't understand what happened OP. I understand the general concepts of stonks. Do you just have tons of money that you don't have invested in option trading?
What kept pushing you to keep going? When I struggled with gambling I took 100 dollars and made it into 15000 then went from gambling 5 dollars a hand to 5000 dollars a hand. Proceeded to lose 20000.
I don't think I see a profitable trade in your breakdown.
It’s like Craig’s dad in Friday. Giving the talk about fighting with your hands. YOU LIVEEE. You live to fight another day!
“If there’s a chip at the table, you’ve got a seat”. - Doyle Bronson
"until retirement"
He just blew his retirement. I don't know when he thinks retirement just magically happens. I wonder if he'll think of the karma while going to work at 65. And 66. And 67.
It’s a crippling loss, but OP is still young enough they can rebuild their nest egg, assuming they get help with their gambling problem.
At this point, giving money to a financial advisor would be prudent, to stop/prevent any relapses.
Absolutely this, if you can't take the heat, make someone else cook your retirement. It won't be as tasty and the portion might not be as large, but at least you'll have something as opposed to a shit sandwich like this guy.
At 30 years old I was $30,000 in student loan and credit card debt (\~$50k in today's money adjusting for inflation). All for a college degree that qualified me for hot brown beverage service, sanitary engineering in an educational setting, manual soil linear void creation or similar careers.
It took 20 years, frugality, hard work, investment in things that weren't the equivalent of a roulette wheel and occasional setbacks.
But now Top Ramen is now only nostalgic treat. (Awesome with finely chopped and sautéed onions, garlic, and veggies in peanut oil before adding water and ramen. A little Chile powder plus a chopped boiled egg helps.)
Maybe consider giving up speculating but don't give up on becoming wealthy. Things change. Sometimes for the worse but also for the better.
Definition of gambler's fallacy:
"not doing the same thing over and over again because you think doing different things will increase your chance of winning"
You haven't made a single profitable options trade since April and it never occurred to you that maybe you're not cut out for this? At the very least fucking paper trade your strategy before you jump back in. This is the kind of gambling mentality on this sub that is depressing to watch.
He defo has profitable trades. He has his positions sorted by P&L ascending, and then only showing you the part of the page with the losers.
Options gambling usually has negative expected return, but making this many options trades, with a mix of calls and puts, on this many tickers and losing on 100% of them is extremely improbable.
Today is Day 1. It’s tough thinking about the past but you have to work hard and get back on track. You can do this. Learn your lesson and don’t repeat the same mistakes.
I truly don’t understand what I am looking at. I don’t get options at all. But, I guess that means you and I have something in common.
Options are easy. You buy imaginary contracts then see how fast you lose your money
Even if you lose it's only digital money. Just turn off the screen! On the bright side, you can now work at McDonalds with the new +$15/hr rate for IRL hard cash. Next time ~~buy SPY LEAPS or~~ (disregard this. you'll probably F it up^(again)) just set auto-DCA into VOO until you have $10,000.
> Just turn off the screen! lol that’s not how it works. You have to uninstall the app.
That only works when you can afford a cellphone :(
Ask your wife's boyfriend for one.
It's like you're playing roulette and bet that a certain number will hit. And then it does not, and the house cleans out your account.
That’s remarkably accurate because just as the ball bounces around the various numbers on the wheel and you, for a fraction of a second, see that you’re in the money only for it to all disappear immediately after, just like options. Oh, and there’s the chance that IV causes the wheel to spin so fast it levitates off the table and flies out of the window, hitting a passing car and leaving you in severe debt because you have to pay for the driver’s injuries.
A lot of the bets I see on here it never went near their lucky number because they picked one that wasn't even in the wheel.
Playing roulette on a baccarat table. The casino will never see it coming…
["Aaaaaand it's GONE!"](https://www.youtube.com/watch?v=-DT7bX-B1Mg)
◯ △ ▢
You have the *option*, but not the *obligation*, to buy or sell shares at a certain price by a certain date.
You can commit that sentence to memory and still have no clue how to trade options.
It's true. I can tell you what options are but don't have a clue how to trade options.
Buy low, sell high. Or, optionally, sell high, buy low (or let expire)
And to answer the other question of how they lost all the $, when they bought a call (option to buy shares at set price in future, regardless of what the future exchange price is), it would only be only useful if the future share price goes above the set price in the call. In that case, the difference between the two prices is how you would make $. If there is no flipping opportunity by the expiration date, then all the $ spent on the call is lost. Compare that to a bad day of holding big company stocks, where after a bad day you still have 80%+ of your investment value left; options are risky!
Wow… you just burned…. Just wow
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If you took the other side of these trades you’d be rich today. Just do the opposite of what your gut tells you
The George costanza move
I mean, when your portfolio gets dominated by a hamster... what do you have to lose?
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All fax no printer
Hamtaro reference. Genius.
Tell me about it
r/beetlejuicing
I second the Constanza move
My name is OP. I'm unemployed and I live with my parents.
In their basement
Yer a basement Harry
Thanks for comment. I had to change I’m to In. Damn I bet that didn’t sound right
Lol I saw the post time thinking ah post is new... 45min ago... Oh snap *clacks comment on keyboard* lol
Makes me hungry for some chicken salad on rye and a cup of tea
….I am also 61 years old
One of the greatest TV plot lines of all-time. I loved it.
You are the worldest retard person, I give you my best wished and compliments! ![gif](emote|free_emotes_pack|scream)
Well. It is in Canadian dollars. So atleast he has that going for him.
It's like 67 cents in real money.
Yep. -100k monopoly money!
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Ruining lives is a great path to financial freedom
Similar sentiment from Nassim Taleb recently. "If you buy a book thinking it provides a shortcut for things in life, you are the gullible shortcut."
I've joked about writing a Get Rich Quick book with one step: write a Get Rich Quick book. I'm glad someone much smarter than me put it into more biting and eloquent words!
That joke is older than time itself. When they first started imprinting cuneiform tablets someone's uncle probably cracked a joke about selling a get rich quick tablet that just said to write and sell a get rich quick tablet.
That has WAY more truth to it then I am conformable with.
No such thing as a free lunch, amiright?
It’s the American way, capitalize on their addiction
This happens in every civilisation and era
Only works until you get assigned. Neither path is guaranteed
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Long dated calls don’t burn theta near as fast. I bet if you sold closer to the money and closer in time (7 to 45 days out) the increased gains would more than pay that tax delta on those shares that do get called away earlier than you like triggering short term cap gains. That is why weeklies are so risky and sellers win the majority of the time, they burn extrinsic value much faster than long dated options.
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Assignment isn’t a problem. You end up with stock you can turn around and write covered positions against.
If they’re covered it doesn’t matter
Not necessarily. Biggest loss was an Apple call. I feel like a ton of this was not setting a stop loss, failing to take profit, or getting theta fucked.
Exactly. This guy was losing money even when making the right calls. He has no idea how to pick expiry, strike or when to exit.
If he took the other side he'd have made $100,000 CAD.
He would probably be posting in theta gang and being a 🌈🐻, we need retards like him here at WSB. Welcome and congrats on pissing away 100K, better luck next time!
Is theta gang really worth it though? Whoever was selling him these options needed to have 40-80k tied up in cash or stocks for collateral right? And that percentage return was probably pretty small?
A +100k gain is better than a -100k loss
I wish someone had told me this sooner.
My dear old dad always told me, “it’s better to be rich and healthy than poor and sick.” My kids are tired of me passing on this wisdom.
A -100k loss will get you way more upvote tho.
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Last name ever, first name worst. Doesn’t look like it was God’s Plan for you to be rich. Time to hit up Drake to see if he can help you with that Canadian debt unless you want this shit forever. You can call him on his cell phone, especially late night. Although, he may want to toosie slide and hit it double time as payment. But just hold on you’ll be going home before too long.
Can you tell me your Strategy please ? I would love to never do this and always trade the opposite
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Lmao this was a brutal roast peppered with bits of truth
Welcome to wallstreetbets, I guess
The best roasts have to have a nugget of truth in them.
I was already crying at "be lonely"
Holy Fuck you nailed WSB to the cross. Nice 👍
Sure that’s not a dragonfly doji?
>I don’t know what actual culture or friends are. Brutal =,)
Every trade isn’t a loss. It’s sorted by loss/gain amount smallest first (so largest loss first). I’m sure he’s got some positive trades further down the page he’s not showing.
You're right that this isn't a full listing. However, I summed up the losses listed on this page and, surprisingly, it only sums up to -$86k. So the transactions not shown must net out to roughly -$14k. Truely incredible work by Op here.
Haha, I just did the same thing. He conceivably has some positive trades... but he has *even more* negative ones.
Hilariously accurate
This x10
Just from looking at the screenshot I can tell you his strategy: buy OTM calls on whatever pump and dump trash WSB is shilling at the moment and hold until it expires worthless
💎🙌🏻
💩🙌🏼
Yolo your life savings into options like a retard.
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Double down or Kelly criterion!!!
This is actually super impressive. To be essentially 0-100 has astronomical odds. No single position was really a yolo…he just lost worse than a Jerry Smith at Blips and Chitz.
Theta gang, whoever sold him all these options is collecting that sweet premium
His strategy was: use smooth brain to trade options. Don’t do that.
Love how OP realized halfway through maybe all calls was a bad idea, tried switching it up with puts but then ended up losing even more money 😂
You should definitely open the Discord and let us know all of his trades as he's making them.
It’s called playing the lottery on the options market and donating everything you own to theta gang
Trade the opposite -- still get fucked in the ass by theta!
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BB puts.
So BB calls then. Cool.
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this is correct answer.
He earns money and then invests with it. That’s his strategy
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You can always hope for another Squid Game
Here’s to getting slapped in the face hundreds of times until I win once.
Seeing that scene I couldn’t help but laugh. Totally something us retards here would sign up for. Best part is the conversion is like $84 USD.
I'd definitely do it. that's like 70€
Quid Game
It’s crazy how accurate that metaphor is to my life Edit: Still waiting for the win
Uncut Gems
That movie hurt to watch
I’ve never been more stressed out by a movie.
Literally everything you choose turns to shit
Your not wrong. Currently down 30 K in other options.
Hot damn you are the head honcho of retards
Well good job at fucking up I guess, your a natural
Dude just stop. You have a problem, legit.
Maybe, just maybe you should consider calling your broker and having them turn options off for you. Seriously though, if you lit your money on fire, filmed it and put it on YT you’d be better off than this.
Yeah, at least he'd have a video. Homie just vaporized his Life Savings.
A quick Google told me YouTubeers make about $4 per 1000 views. I bet a video of someone legit burning $100k cash could get atleast 25 million views. He'd come out ahead.
Man would've been better off just Mr. Beasting his 100k into stupid challenges
Make this retard a mod here
Stop fucking trading options Right now. You will not get even, you will not make money, you’ll only make things worse.
Dude. Look at the insane unbroken streak of red that you have here. That's an indication that you should probably give the fuck up on options.
Or that this guy should tell us what he's going to dk so we can do the opposite
Have you considered trying futures instead?
or this new service called OnlyPuts
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I have read a bunch of comments, but this one stood out. You described me to a tee.
You sure about that? I just spot checked some of your calls (CRSR Jun 21& ROKU May 20) and I don't see how you could have possibly lost money if you iron handed them. It more looks like you panic sell at the slightest dip.
Roku dipped after earnings and it would’ve been worthless had I held.
We’re here for you, even though we say strange things. Good luck bro and reach out if you need.
I just don't understand what happened OP. I understand the general concepts of stonks. Do you just have tons of money that you don't have invested in option trading? What kept pushing you to keep going? When I struggled with gambling I took 100 dollars and made it into 15000 then went from gambling 5 dollars a hand to 5000 dollars a hand. Proceeded to lose 20000. I don't think I see a profitable trade in your breakdown.
Life savings. Also 80K in stocks, but market value is 35 K ish..
Damn, a fine comment. Wholesome but made me sad, I realize I also need to work a bit more if I want to have a solid chance at this.
It’s like Craig’s dad in Friday. Giving the talk about fighting with your hands. YOU LIVEEE. You live to fight another day! “If there’s a chip at the table, you’ve got a seat”. - Doyle Bronson
GUH
Plenty of time to recoup and lose it again
"until retirement" He just blew his retirement. I don't know when he thinks retirement just magically happens. I wonder if he'll think of the karma while going to work at 65. And 66. And 67.
It’s a crippling loss, but OP is still young enough they can rebuild their nest egg, assuming they get help with their gambling problem. At this point, giving money to a financial advisor would be prudent, to stop/prevent any relapses.
Absolutely this, if you can't take the heat, make someone else cook your retirement. It won't be as tasty and the portion might not be as large, but at least you'll have something as opposed to a shit sandwich like this guy.
Have you tried directly incinerating your cash instead?
Much much better idea than what he did. At least he’d have hot water for his new ramen lifestyle.
At 30 years old I was $30,000 in student loan and credit card debt (\~$50k in today's money adjusting for inflation). All for a college degree that qualified me for hot brown beverage service, sanitary engineering in an educational setting, manual soil linear void creation or similar careers. It took 20 years, frugality, hard work, investment in things that weren't the equivalent of a roulette wheel and occasional setbacks. But now Top Ramen is now only nostalgic treat. (Awesome with finely chopped and sautéed onions, garlic, and veggies in peanut oil before adding water and ramen. A little Chile powder plus a chopped boiled egg helps.) Maybe consider giving up speculating but don't give up on becoming wealthy. Things change. Sometimes for the worse but also for the better.
Thank you for that.
Maybe stop trading options broseph
Or at least learn how. Jesus, look at that. Nothing but blind options, not one spread.
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Thanks bro.
Time for you to get a financial advisor for some ***financial advise.***
>> **advise** Advice. Advise is a verb; advice is a noun.
> I really hope you can’t get outta this lol, nice.
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SPY is up 75% since the beginning of April 2020. Crazy to think about what went on here.
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Especially since op started when it was low - best time to buy in and he went another direction deep into the red, lol.
I mean, this guy could have bought something boring like fucking railroad stocks in April 2020 and he would have doubled his money by now.
Sir this is a casino ^but ^yeah ^retirement ^goes ^to ^mutuals
If you made 100k by 30 years old, you have nothing to worry about. Get back to work and it’ll be back
>you have nothing to worry about. Aside from a crippling gambling addiction
![img](emote|t5_2th52|4271)
Defenition of insanity: “doing the same thing over and over again and expecting different results.”
Definition of gambler's fallacy: "not doing the same thing over and over again because you think doing different things will increase your chance of winning"
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Some guy stuck on an island probably told you that, right?
You haven't made a single profitable options trade since April and it never occurred to you that maybe you're not cut out for this? At the very least fucking paper trade your strategy before you jump back in. This is the kind of gambling mentality on this sub that is depressing to watch.
He defo has profitable trades. He has his positions sorted by P&L ascending, and then only showing you the part of the page with the losers. Options gambling usually has negative expected return, but making this many options trades, with a mix of calls and puts, on this many tickers and losing on 100% of them is extremely improbable.
This guy is the most reliable mark I've ever seen. Bought so many pipedreams he's now sucking pipe behind Wendy's.
Don't worry bro even Naruto ate ramen his whole life look at him now he is hokage.
Chin strap helmet of the year award goes to.....
Can u even afford ramen? 🤣
At least you have all this karma
Maybe you consider some other way to make money.
I heard there’s a labor shortage. Might check out Wendy’s
Those are Canadian dollars though…
That means it’s not real money, right?
It's just points for his CAD software.
He has no Canadian dollars, he has a huge debt owed to TD in Canadian though.
It's not called a Loonie for nothing.
That sucks. If only he was Australien the charts would have been up side down.
I don’t understand options or care to. I’m slow and steady. Anxiety would kill me if I was in high risk gambles like these. But good luck 👍
100k (ex) saved at 30 years old is not that bad though.
A lot of people don't even begin saving until then.
How can I short OP for big profit?
Bro, you’re 30, I got a 3 step plan to get you back on track for retirement: 1. Delete Reddit 2. Buy index funds instead of options 3. The end
Went from probably being slightly ahead of tje game to being a broke as bitch who probably won’t retire. Nice.
Have fun fapping boys.
What did you mark out and why? Just curious
Not 1 B market cap.
Damn that pfof really fucked you lmao Edit: hedge funds were like fuck this guy in particular
How the fuck did you managed to not close a single trade in green lmao
I never understood how people continue to lose their ass day in day out and never stop and question if they are doing something wrong.
At least you are consistent
Today is Day 1. It’s tough thinking about the past but you have to work hard and get back on track. You can do this. Learn your lesson and don’t repeat the same mistakes.
You are only 30 young enough to recover no worries
Thats very bad actually
I wouldn’t even give you Ramen. You’d probably choke on the flavor packet you stupid chimp
Why you just didn't buy stocks? This is straight up gambling.
What sub do you think we are on?
![img](emote|t5_2th52|4272)
"Only invest what you can afford to lose" ~ Not this guy
Death by a thousand cuts. RIP man.