Hey guys, So I have lost about $300k US dollars in options for the past 3 months. I was feeling like killing myself so much but I have finally recovered from really negative thoughts. I have $10k in savings now and I guess I will start again from ground zero. I am 27 years old with TC of 150k. I guess I will grind hard and save again
What! losses?
Terrible advice lol. Do not gamble.
Can you post any screenshots of it for loss p0rn?
Lol come on man, that’s like asking for his wife’s sex tape with her BF
Can you post that too, OP?
Good luck mate, you're young, you'll be fine, and hopefully learn that never use money on options you can't afford to lose. I do about 95% boring etf stuff, recommended allocations, etc and wheel with the other 5%
That will take 40 years for you to get to 10M. We're talking about getting rich quick very very quick
Oracle is talking about investing and you're talking about trying to win the lottery.
Good luck for future investments and don’t forget that you can carry forward your capital loss for several years to offset your income and save on taxes if you plan it well
Does this work for individual taxes or only incorporated entries like an LLC?
Works for individuals too though there could be some numeric limits to it
Question is what did you learn and it may be beneficial for other people in blind
Options trading is dangerous no matter how smart you think you are, risk only what you’re willing to lose should be the takeaway here
This is a misconception. Do spreads, buy leaps there are lot of ways you can get great return from options. Infact, options are great than stocks. I am on SPY $360 LEAP 12/31 2021
Thanks for posting, people need to hear how dangerous options trading really is. I have an uncle who sold a company for Millions and turned around and blew almost all of it options trading. It’s easy to get addicted once you start making $.
If you're smart you can use options to cap losses instead of increase risk. The trick is to find the option that has the same amount of leverage as a larger amount of stock, and with a reasonable expiration date, and then use the remaining cash for other low-risk investments. It's not helpful that brokerages don't compute this for you but that's really the safe way to use options.
What company did you buy options for?
Kill yourself for 300k? You could leetcode, get a better job and save 300k in less than five years. Having 10k at age of 27 isnt too bad, and you have high potential.
this website is ridiculous
He’s right. It’s a pick me up.
I was worth -$40k at 27 with $110TC. I think you'll survive.
Same
My net worth at 29 y/o was -$145k with TC 70k. Now 35 years old Net worth $450k TC $265k. Op can bounce back
Way to go