I have been swing trading last 3 years and modestly have made in between $2K-$3K in profit every month (no day trades - I have a separate acct for swing trading and keep it a no round trip on same day acct) Nearly all my wins had been below $500 with no more than $5K on the line. Win ratio in between 75-80% because I am ultra careful and sometimes even got away with less than $20 profit on 1 contract. Was till NVDA. I made a $300 ITM call with 10 contracts 2 weeks before earning to be held 1 week after earnings (Friday expiry a week later). Made nearly $80K - very comparable to my entire 3 years win. Got greedy. Increased contracts and played what was pretty risky IMO calls. But market kept going up and made $17K approx more in 2 months after that. On Monday despite my inner voice telling me not to do so , played 15 NFLX calls at $470. Down $55K in a flash. I think it's going down more - so took my losses. Still up for the year, but wondering how I could be so blinded by greed against my better judgement.
Don't gamble at all, options is gambling and guaranteed loss
Never hold through earnings unless it's an amount you're comfortable losing.
The key with options is turning the table and becoming an options seller, not a buyer. You can still buy for hedging and risk mitigation, but it is easier to achieve steady results 0.5-1% per week by selling cash secured puts and covered calls.
Option selling still can't beat the market, right? Better to just invest and stay peaceful?
Why couldn't you take more safe bets ?
I had been successful once Greed and emotions from greed are powerful things - in post mortem
I bought 22k worth of lucid. Should I sell before earnings?
Some of life’s best lessons are learned the hard way. Take your lumps and you’ll be fine.
What kind of strategies do you use?
Hello fellow wallstbets regard
This is why I only do strangles
Still up over 42K
Position screenshots or gtfo
Il pretty sure his story is legit. OP needs to join wallstreetbets if not there already