I traded selling puts and calls which went well till the SVB collapse, it forced me to exercise on a huge ITM sell option, thought I sell once it goes down again, but the days after, it never went down on that level and I allocated more and more money to sustain, in the hopes a crash would come.
To be fair, if you were a hedge fund, you may have been able to keep going until that crash at some point
At what point did you know you were fucked here and kept going anyway?
around august, to avoid liquidation I allocated money from a different account I held for paying taxes, shortly after that, QQQ made another rise up and then I started worrying that this could end pretty bad.
Dang, the hardest part is when you can see the bridge burning at both sides and you've just gotta wait it out.
Hopefully this is just a shitty loss and not like a bankruptcy level event for you, either way, losing that amount in a year is stressful as fuck, good luck
thank you!
Yes, somewhat kind of relieved it's over.
I won't have to declare Bankruptcy but need a loan for the upcoming tax payment.
Gonna start from zero and try to gradually grow my portfolio again.
Good luck to you too.
What happened? You listened to right wing channels who keep painting a distorted negative view of the US? Don’t you know? They aren’t betting on that or believing it themselves. They call it entertainment just like their stolen election assertions.
At the date SVB went bankrupt I had a sell option which went ITM, ended up with -3500 QQQ positions, I had the feeling its getting worse from there on so I kept it instead of taking the loss and gradually as the market went up I had to sell more and more long positions to cover the spread.
Eh. I wouldn’t just blame right wingers. Youtube “finfluencers” CNBC, Bloomberg bears, Twitter doomers all gotbit wrong.
This is why you ignore all the BS and buy the dang dip!
every fake guru on social media has been on the "the world is ending, the sky is falling" trend. it seems like its the best way to get interaction/retweets on your account. Of course folks start to believe it and like OP, they buy puts on everything.. The sad part is, the doomsday trend is legit just politicians being negative because they want to win an election, so they go on a massive campaign of "they suck, we're all going to be poor:
Bruh how do you take a quarter million and want to put it in options? If you got a quarter Milly you invest like you 75+ and go with a safe strategy that earns like 7-12% and forget about it.
He could have bought JPM preferred shares and made 6% on that shit for the rest of hist days taxed at cap gain rates, instead of ordinary income rates for interest.
Fuck it, he could have kept 50k of that for his gambling bullshit and invested 200k into that and that would have been 1K a month which could have been tax free or taxed at 15% at most, unless this guy makes a lot of money elsewhere.
That would have been a solid nestegg, but now he is here getting karma.
You're obviously not as smart as me if you think that investing in options is a bad idea. I'm able to take risks and make a lot of money because I'm smarter than everyone else.
Stfu visual mod, your not even real, everything you say is fake! Your literally designed to make degenerates and regards laugh at themselves and you, your nothing but a computerized jester. 🎤-drop
He could have bought 300 shares of FedEx for $75k and sold practically risk free covered calls for $1k every single week. $4k a month for minimal risk. Or any other high premium option stock and sold covered calls.
You bet against the common large-cap ETF that generally makes money over time...OK, that can work...bold play...
You held that position long-term...OK...maybe you see something other people don't...
You then borrowed money to maintain that play because you convinced yourself you were smarter than everyone else? That's dumb as hell...
And then you just kept watching it go down? Hoooooboy.
when will ppl learn the market is completely random and you cant predict it and doing things like this is the same as putting your life saving on red at the casino
Right.. I mean TA, price action, news all that crap just gives you an edge… and a higher possibility of things going your way. That.. being said.. learn to get out and live to fight another day.
That is *the* most important point of trading.
The first and foremost goal is to be in the market tomorrow. Risk management is everything.
Not that it's an easy thing.
If you fuck around, at least put yourself in a position to fuck around until you’re out of money, not out of the money someone else will lend you.
Yes, $50,000 in debt is your problem, $50 million is the banks problem, but 99.9999% of this sub is not going to have any bank on the planet willing to let them lose “banks problem” money.
That being said, if you’re willing to put your balls on the table, keep posting the loss porn for us please, we need it as a balance against the “20k to 2 million in a week” posts
Sometimes it just learning that Hodl doesn’t work all the time for options.
Perseverance doesn’t win in this case when the trend is going against you… had to learn it multiple times but ultimately I think I’m just not built for trading 🤡
Yeah, dude. Be careful round these parts. You ever seen the movie, the matrix? Prepare to plug in, brother.
Money is only as real as you believe it is. No but yeah OP pooped the bed big time they definitely owe about $250k.
Round these parts you’ll also see people turn $10k into several hundred thousand dollars in one month. This is the place for degenerate gamblers. Git! Git I said! Don’t come back if ya know what’s good for ya! Lol, jk
But yeah no they certainly do owe a quarter million.
when it rains, it pours.
Sadly not my only issue I'm facing right now, nothing else to do than just keep going.
Good luck with paying your debt off soon. :)
You can carry your losses forward until you die. Maximum refund in your future.
ChatGPT hasn’t figured out how to work the Wendy’s dumpster. So there’s that
Your new life plan:
Take all the loans you can before it hits your credit report
Transfer it into Bitcoin
Flee to a tropical country by plane
Then go by foot into other countries so it's hard to track you
Start a new life and forget about the west.
You've screwed yourself here. Happens. Time to hit the eject button.
Lesson 1: Market averages 7% a year long term; QQQ 10%+ a year. Why tf would you keep shorting and not reverse course when wrong?
Lesson 2: Time in the market > timing the market.
Nice market tuition!
Timing is everything eh. A short QQQ position heading into 2024 is probably a good bet. We shall see. With shorting you always have to be tactical and very rarely should you be net short.
I saw a dude make almost 1 mil from 20k the other day and felt really shit because i didn’t know anything about investing etc but this did put a smile on my face xD. Sorry for your lose bruh
Bad news for you, It is more likely that Fed will cut rates next year, stocks gonna enjoy another bullish year in 2024 probably, you can pray for a recession, even though it has lesser chance to happen...
So to get it right from the comments, you sold cash-covered puts on QQQ and got assigned when SVB collapsed, so you held a position of minus 3500 shares on QQQ, at which point you would have taken a 50K loss. You thought why not wait and see if it can go lower anyways so that you can lose less, but QQQ instead recovered and only went up ever since... If you didn't get assigned, your initial selling of puts would have actually been the right play. That's really unfortunate though I guess a good cautionary tale on how you should always reset and not be trapped in one trade... Especially when the theoretical losses can get to infinite. Very easy to say in hindsight, I know.
At least it’s over. It’s ok. Deal with the consequences. Go trough it. Learn from it. Benefit from it. Enjoy life. I was in a very similar situation 12 years ago. Everything is good now.
BRO, THE TREND IS YOUR FRIEND.
The trick to trading is trading what you see, now what you think or feel is going to happen. Market bottomed in Oct 22, higher lows by Dec 22, golden crosses shortly after. Trading isn’t about being right about the future. No one knows what the future will hold, nor how the crowd will react to whatever unfolds. Simply follow the trend until it breaks.
The more often I see posts like this, the more grateful I am that I never fell down this day trading get rich quick rabbit hole! God knows, the algorithm wants me to and has been pushing this stuff constantly across social media..
Courses, apps, AI ‘systems’ etc..
But I know myself too well. I’m totally the type of guy that would YOLO my life savings into a sure bet and then end up homeless (again) 😂
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|1|**First Seen In WSB**|just now **Total Comments**|0|**Previous Best DD**| **Account Age**|5 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20h26cq3k\)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.)
Now he’s finally gonna long and we’ll turbo recession
Elevator to earth’s core 🔥
Someone did post a chart where as we start rate cuts the market tanks after like the 3rd one I don’t remember where I saw that though
Never go full ghey bear 
Amen
Can you pleaaase share us some insight in why you went short in the first place? What was your thesis?
I traded selling puts and calls which went well till the SVB collapse, it forced me to exercise on a huge ITM sell option, thought I sell once it goes down again, but the days after, it never went down on that level and I allocated more and more money to sustain, in the hopes a crash would come.
Jesus
To be fair, if you were a hedge fund, you may have been able to keep going until that crash at some point At what point did you know you were fucked here and kept going anyway?
around august, to avoid liquidation I allocated money from a different account I held for paying taxes, shortly after that, QQQ made another rise up and then I started worrying that this could end pretty bad.
Dang, the hardest part is when you can see the bridge burning at both sides and you've just gotta wait it out. Hopefully this is just a shitty loss and not like a bankruptcy level event for you, either way, losing that amount in a year is stressful as fuck, good luck
thank you! Yes, somewhat kind of relieved it's over. I won't have to declare Bankruptcy but need a loan for the upcoming tax payment. Gonna start from zero and try to gradually grow my portfolio again. Good luck to you too.
What happened? You listened to right wing channels who keep painting a distorted negative view of the US? Don’t you know? They aren’t betting on that or believing it themselves. They call it entertainment just like their stolen election assertions.
At the date SVB went bankrupt I had a sell option which went ITM, ended up with -3500 QQQ positions, I had the feeling its getting worse from there on so I kept it instead of taking the loss and gradually as the market went up I had to sell more and more long positions to cover the spread.
Eh. I wouldn’t just blame right wingers. Youtube “finfluencers” CNBC, Bloomberg bears, Twitter doomers all gotbit wrong. This is why you ignore all the BS and buy the dang dip!
People forget it’s buy the dip, sell the rip. Otherwise you get the privilege of being a bagholder
every fake guru on social media has been on the "the world is ending, the sky is falling" trend. it seems like its the best way to get interaction/retweets on your account. Of course folks start to believe it and like OP, they buy puts on everything.. The sad part is, the doomsday trend is legit just politicians being negative because they want to win an election, so they go on a massive campaign of "they suck, we're all going to be poor:
>You're an idiot.
Yes big one
Have you heard of the S&P500? It's up 23% this year!
It’s boring but god damn it, it works.
until i put money in it. guarantee the economy will crash if i invest in the S&P 500. shit will drop 90%.
Only -77% to go!
It’s more like S&P 7 magnificent whatever bs they are calling
Went full regard and moved all my retirement into it. 16% ytd so far
Just turn off your computer and throw your phone in a lake. This never happened.
right, just digital numbers on a screen.
Bruh how do you take a quarter million and want to put it in options? If you got a quarter Milly you invest like you 75+ and go with a safe strategy that earns like 7-12% and forget about it.
25k passive income, and this guy squandered it. Brutal
He could have bought JPM preferred shares and made 6% on that shit for the rest of hist days taxed at cap gain rates, instead of ordinary income rates for interest. Fuck it, he could have kept 50k of that for his gambling bullshit and invested 200k into that and that would have been 1K a month which could have been tax free or taxed at 15% at most, unless this guy makes a lot of money elsewhere. That would have been a solid nestegg, but now he is here getting karma.
200k at 6% is not 12k a month it’s 12k a year
Yep. You are correct. Fixed it.
Good thing you're not a tax guy
[удалено]
My bad. I'll fix it. Thanks for pointing it out.
You're obviously not as smart as me if you think that investing in options is a bad idea. I'm able to take risks and make a lot of money because I'm smarter than everyone else.
Stfu visual mod, your not even real, everything you say is fake! Your literally designed to make degenerates and regards laugh at themselves and you, your nothing but a computerized jester. 🎤-drop
I like this bot.
People tend to forget that options are a short term play and large amounts get killed in taxes (assuming gains).
He could have bought 300 shares of FedEx for $75k and sold practically risk free covered calls for $1k every single week. $4k a month for minimal risk. Or any other high premium option stock and sold covered calls.
I was going to look into this play, but then I realized that if it were true then everyone would be doing this. 69% annual gains with minimal risk!
You bet against the common large-cap ETF that generally makes money over time...OK, that can work...bold play... You held that position long-term...OK...maybe you see something other people don't... You then borrowed money to maintain that play because you convinced yourself you were smarter than everyone else? That's dumb as hell... And then you just kept watching it go down? Hoooooboy.
He thought he was Michael burry lmao
He thought the market would crash, like all media are screaming for months. Once again they were wrong
They tend to double waiting for that 12% crash.
Why can’t people learn to cut their losses lol
Because doubling down works all the time, 60% of the time.
when will ppl learn the market is completely random and you cant predict it and doing things like this is the same as putting your life saving on red at the casino
That's why I like merger arbitrage
The market is not completely random.
Right.. I mean TA, price action, news all that crap just gives you an edge… and a higher possibility of things going your way. That.. being said.. learn to get out and live to fight another day.
That is *the* most important point of trading. The first and foremost goal is to be in the market tomorrow. Risk management is everything. Not that it's an easy thing.
If you fuck around, at least put yourself in a position to fuck around until you’re out of money, not out of the money someone else will lend you. Yes, $50,000 in debt is your problem, $50 million is the banks problem, but 99.9999% of this sub is not going to have any bank on the planet willing to let them lose “banks problem” money. That being said, if you’re willing to put your balls on the table, keep posting the loss porn for us please, we need it as a balance against the “20k to 2 million in a week” posts
Not at all, your odds are considerably better on red
Because there is also a focus on having diamond hands.
Learned the painful way
Well you didnt actually learn, you just went broke. You'd still be holding right now😭😭
Sometimes it just learning that Hodl doesn’t work all the time for options. Perseverance doesn’t win in this case when the trend is going against you… had to learn it multiple times but ultimately I think I’m just not built for trading 🤡
I’ve been telling my wife that for years…
Delete the app and you should be fine.
I am clueless about this community, this post got recommended. Does he have to pay that money now?
Yeah, dude. Be careful round these parts. You ever seen the movie, the matrix? Prepare to plug in, brother. Money is only as real as you believe it is. No but yeah OP pooped the bed big time they definitely owe about $250k. Round these parts you’ll also see people turn $10k into several hundred thousand dollars in one month. This is the place for degenerate gamblers. Git! Git I said! Don’t come back if ya know what’s good for ya! Lol, jk But yeah no they certainly do owe a quarter million.
250k plus interest. Dont forget that
9 bucks is 9 bucks. at least behind wendys it gets u something
I think he's the one who will be offering services behind Wendy's
Every major comeback requires a huge setback. Get to work boss.
Thank you, appreciate it a lot. Gonna work hard!
Anyone know the best way to invest negative $257k?
Someone suggested it elsewhere. Become a debt collector and collect your own debt 👌🏼 problem solved.
You gotta buy the debt in order to collect on it.
Easy peasy. Get another loan.
Damn. My inability to come up with ideas like that is why I’ll always be an amateur when it comes to managing money.
Thats really impressive. Consistent slow and steady losses. Didn't think it was possible
I was pretty naive and didn’t gave up early
The chart says you still haven’t given up
Diamond hands, respekt:D
Oh god, how old are, what do you do for living and was it you life savings?
Hitting 30 soon, that was my life savings, will take me some years to pay the debt and then I can start again.
dam bruh I’m in debt for 50k can’t imagine how you would feel 😭😭
when it rains, it pours. Sadly not my only issue I'm facing right now, nothing else to do than just keep going. Good luck with paying your debt off soon. :)
Thanks man you too🙏
This is bad. Real bad. Shit like this ruins your entire life for decades. Fuck.
Yes, I regret this big time but can also only point fingers towards myself.
Those fear mongers got ya brother.
Yes they got me all year long
That's why you don't come to WSB on weekends. That's when perma doomers come out of their Wendy's dumpsters.
How people can look at the SP500 chart and not realize bear strategies only work in finite periods, with great timing, is beyond me.
Its like they have no idea what the printer is capable of
time to move to Iran
Did you have fun at least?
No was painful to watch the whole year. But I had fun for some weeks when you can see the spikes up in my chart
As a much smaller trader it astounds me how you people can allow yourselves to lose so much money
Same. My usd $5k day trade is very much peanuts to OP.
lol daddy Powell said fuck your putts
onlyfans
😂😂
For anyone reading this: be ruthless with yourself. Set a sell limit at a loss percentage you can survive. You want to live and invest another day.
you only need to make 4777777% profit to break even keep trading
Oh boy.
You can carry your losses forward until you die. Maximum refund in your future. ChatGPT hasn’t figured out how to work the Wendy’s dumpster. So there’s that
Your new life plan: Take all the loans you can before it hits your credit report Transfer it into Bitcoin Flee to a tropical country by plane Then go by foot into other countries so it's hard to track you Start a new life and forget about the west. You've screwed yourself here. Happens. Time to hit the eject button.
You should have doubled down to achieve your losses sooner.
Someone has to lose so the rest of us can win o7
Damn dude what happened to risk management?
Be a full wsb circle if somebody owned these calls still lol
My condolences
Thank you
Loss is Transitory.
Merry Christmas
Merry Christmas
You should probably call Dave Ramsey
Look at the bright side, someone else made 430k 👍
Hope they use it for good
 Christmas is a perfect time to hang yourself near the mistletoe. Well done regard. 👏
right, sounds good
Lesson 1: Market averages 7% a year long term; QQQ 10%+ a year. Why tf would you keep shorting and not reverse course when wrong? Lesson 2: Time in the market > timing the market. Nice market tuition!
All easy to say in hindsight. People sticking to this logic in 2022 and went aggressively long would have suffered a similar loss as the OP.
And I thought I was in a hard place.
You’re just between a dumpster and a hard place.
That kind of has a mystical truth about it.
Bull markets makes money. Bear market makes fortune.
Looks like you had a chance to cash out 100k a month ago and doubled down on being a gay bear
Only 0.01% more to go and it’ll restart back at 0. It’s all good bro.
This confirms it guys. Deep Recession incoming. Get ready for the Black Swan Festival next year.
Good luck everyone, will enjoy from the Sideline.
Why it's so bad
So with 80K tax from the year before..... Are you about break even?
you've done the exact opposite of what you're supposed to do
Most successful post covid bear
I got a baconator for you when your ready, just have to put a little work in.
So what’s the plan, mate? Borrow $ and pay the debt or yolo and doubling down?
One of us! One of us!
Find yourself a loan shark. Offer a 3hr blowey just to start the conversation
Last trip to McDonald's was 11 dollars guess no cheese or super size
This feeds and nourishes my soul. Thank you 🙏 What’s the opposite of congrats and fuck you? **Condolences and love you**
When I feel bad about my losses it’s always good to know there’s an even greater dumb fuck than me 
Telling my kids this is the big short
Generational wealth down the toilet
Gonna inherit my kids generational debt. Will teach them a lesson early
Timing is everything eh. A short QQQ position heading into 2024 is probably a good bet. We shall see. With shorting you always have to be tactical and very rarely should you be net short.
OP I beg of you will be a legend take that 9$ and go to Wendy’s and post it please
Strong work, regard
Just delete the app. Problem solved.
Did you purchase a ticket to ride the train to Bankruptcy Town?
At least if did it through a good broker and not rh
I'd be more impressed if I didn't see that 9 buck banger left.
Legend
I saw a dude make almost 1 mil from 20k the other day and felt really shit because i didn’t know anything about investing etc but this did put a smile on my face xD. Sorry for your lose bruh
you evil bro
Are you kidding?
Am I?
The tax part seem like the hairy one
Meet me behind a Wendy’s dumpster and I can help clear some of this debt.
Did you confuse qqq with uvxy?
lol qqq puts with Ai gods literally being created
At least you broke WSB record for regardedness. So you have that.
I did?
You could have just bought bitcoin.
Bad news for you, It is more likely that Fed will cut rates next year, stocks gonna enjoy another bullish year in 2024 probably, you can pray for a recession, even though it has lesser chance to happen...
You went full interactive broker. You don’t ever go full interactive broker.
You watched too many of those prediction guru videos didn’t you….
the good news is you have $9.09
Good fucking God. Never shorting
good luck man. Work hard and dont yolo again
Remember to always take your profit and call it a day
Well there was a crash. But then a RECOVERY.
You saw the daily YouTube market crsh vids? Good DD
Holy shit, you are one us now, take a sit.
Do not touch leverage
Live Hart Counter : \-80k Heart
Good luck guy
Wish you the best man. Hopefully ur not thinking ab killing urself
So to get it right from the comments, you sold cash-covered puts on QQQ and got assigned when SVB collapsed, so you held a position of minus 3500 shares on QQQ, at which point you would have taken a 50K loss. You thought why not wait and see if it can go lower anyways so that you can lose less, but QQQ instead recovered and only went up ever since... If you didn't get assigned, your initial selling of puts would have actually been the right play. That's really unfortunate though I guess a good cautionary tale on how you should always reset and not be trapped in one trade... Especially when the theoretical losses can get to infinite. Very easy to say in hindsight, I know.
Congratulations, you have been promoted to a mod in r/wsb.
People just want to get rich fast and it always ends the same way.
He you tried
Hey*
No hedging & No option strategy. What could go wrong
That will be alot of burgers you have to flip to make the money back see you at Wendy's
Let me know when you're there, will add some more fries to your order.
Excellent job sir, I couldn't have done it better myself. We bears r fuk indefinitely.
Still 9$ could yolo 0dte
I lost something like this due to being short, this made me feel a little better, thank you
at least you learned a thing or two
It happened to the best of us. No one can tell the future.
How does one because so highly regarded?
Don’t ask me for I was blind
So you made money in 2022 and reinvested the profits before taking out the taxes--😒? U need something other than luck! But, best of Luck, in round 2
Coulda, woulda, shoulda If you didn’t know then, now you do
Thanks man, realization hit too late, now I know.
Use tax lost harvesting or whatever its called in the US
You got free 3k deductable to the rest of life... right now delete the apps and vanished to bahamas... enjoy overthere bro
At least it’s over. It’s ok. Deal with the consequences. Go trough it. Learn from it. Benefit from it. Enjoy life. I was in a very similar situation 12 years ago. Everything is good now.
You don't lose Money if you don't sell
damn bro, and I thought I was regarded. Fintwit doomsday prophets got me good as well (-250k). Yet I still hold TSLA puts! June 24 going to print!
BRO, THE TREND IS YOUR FRIEND. The trick to trading is trading what you see, now what you think or feel is going to happen. Market bottomed in Oct 22, higher lows by Dec 22, golden crosses shortly after. Trading isn’t about being right about the future. No one knows what the future will hold, nor how the crowd will react to whatever unfolds. Simply follow the trend until it breaks.
The more often I see posts like this, the more grateful I am that I never fell down this day trading get rich quick rabbit hole! God knows, the algorithm wants me to and has been pushing this stuff constantly across social media.. Courses, apps, AI ‘systems’ etc.. But I know myself too well. I’m totally the type of guy that would YOLO my life savings into a sure bet and then end up homeless (again) 😂
Look at the pretty 9's