Loss
A little backstory, a friend told me about options trading and they were doing very well (quadrupled their portfolio in a month). Looked like they were making money pretty easily, so I started to do the same and well… I guess you could say it backfired nearly every time. Mostly of the spikes and drops were me going all in on SOFI, then I got screwed on Q1 earnings. I’m debating if I should just focus on buying stocks and focus mostly on dividend growth, or if there’s a way to shoot myself out of this 99% hole.
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"What do I do, I've learned over the past year that I am not good at options trading"
"Have you considered ... not trading options?"
"IF ONLY SOMEONE HAD SOME ADVICE FOR ME"
Exactly, just stop buying options. Did the same. Now I made +8,5% in 2024 so far. This is fine and better than loosing all the money.
I’ve made 15% in 2024 so far
8% in a year? in crypto that gets thrown around in a hour, i’m up 30% this month and it’s a red month
🤣
I feel this to my bones😂
THIS
I laughed too hard at this
Food $200 Data $150 Rent $800 Options $4000 Utility $150 someone who is good at the economy please help me budget this. my family is dying
get that food and data under control! that wasteful spending is out of control
Easy problem, live in your cars and free up $800 from rent as well as $150 utilities for extra 0dte options.
How is op gonna get 1.7k gains without options
Wendy's always hiring
$1700. that’s only 34,000 visits to the tendie hole.
Gonna have a tender hole alright
Buy a $1000 of stock worth $3 and sell it when it's worth $5.10?
Got any stock suggestions that are 3$ and will be worth 5.10$ again?
AMC
Generic penicillin.
He can't afford to be choosy at Wendy's now.
Bro he can't even afford Wendy's now.
Blackjack
I lose that much in 1 trade, don’t feel too bad
I lose that much in one day, then it swings that far back the very next day
bro is just mad because he did not know it was a casino.
Yep it can happen. Either luck or you in fact can read volumes and price movement. Kudos
Honestly same, I’m about to trim down and not risk so much. OP just invest in an ETF and you’ll make ur money back. People only gamble short because they never invested long
Yep that loss while sucks, totally recoverable. Just don’t gamble again, or do just be lucky next time. Jk
It's totally recoverable... OP should be able to get it back after working behind the Wendy's dumpster for 15 years.
Don’t sell your self short, hand job is $20, BJ $40, and full blown service is $100-150 he’ll make that back in 2 weeks
Very original, and funny
I’ve had the best luck with NANC and KRUZ. They are ETFs that mirror what politicians invest in.
Thanks for the tip Vlad, I learned something today!
I do both. I usually start by making some money playing the long game then my time horizon shortens further and further until im YOLO’ing significant portions of my account balance on short term options. If you really wanna have some fun, try out commodities futures 😮💨
Yeah yeah we know that his 1700 was his last and your 1700 isnt even 5% of your money
You lose 99.4% of your portfolio in one trade?
No 1 of my trades were straddle play but got volatility crushed post earnings
That's what earnings plays look like unless you get lucky.
I tend to buy a call expiring a month out, about 2 weeks out from earnings. Then I'll sell the position at peak volatility before earnings. If I am green enough I'll gamble some of my winnings on a earning rip.
Just this week I had 6 AMGN calls for earnings bought, I think, two weeks ago. Sold 4 the day before and doubled my investment. Then kept 2 and it absolutely fucking rocketed.
Better if I'd held all 6? Sure. But my risk was managed and those 2 calls went from $140 entry price to $2200 exit price overnight.
Just one way to consider approaching things. What I would say is not to ever buy a call expiring in the same week they expire. If you can't afford to play, don't. Don't try to sneak in with a cheaper position because theta will devour 95% of your money.
Thank you, that’s a really good Strat. I’ve not consider playing volatility for profit
That’s why you sell the contracts baby!
Get out of here theta boy
That's how amzn got me this week... just went balls deep on sqqq puts... bounced back. Keep trying man.. paper trade awhile..
back test your strategy. if it's a security that's going to tank based on market sentiment then dont fuckin trade it on earnings. there's companies that do dick on earnings day and the price hardly drops, quarter after quarter after quarter, with virtually no PR.
Not to brag but my transaction fees are higher 😎
This is around the amount i lost on spy thursday puts
Rookie numbers huh
This hits home
I came here to say this.
This too Im down 14k on options
You stop. Clearly $1,700 is too much for you
No. this is not the way. You clearly start exclusively trading far OTM Spx options and hope to hit the lottery on a 100pt move.
Keep gambling until you recover all your money
99.4% of all gamblers quit before they hit big…
99.43%*
.6% keep doing options and live in a Wendy’s dumpster
Better than a Burger King dumpster
That’s where you go when you crap out of the Wendy’s surge pricing futures derivatives market
have you seen the rent on a ChikFilA dumpster? insane
96% of options traders fail
that means the ones that win, win big
The ones that win start with substantial bankrolls and make 1-2% a week. These are facts look them up. I’m part of the 96% so I’m not happy about it either
That explains why you keep entering the same trade that fucked you regard
Double or nothing until you succeed?
You have two options (no pun intended):
Quit trading Options
Deposit more money and keep trading options - likely to lose more money.
Good luck.
That was very punny
Ugh
Keep going. You're almost to 0. You can do it. We believe in you
Exactly. This loser was going to stop at 99.4% when 100% is within reach. Smh.
He didn’t even use margin! Here’s plenty more to lose beyond -100%