https://preview.redd.it/oguptkhi6n2b1.jpg?width=1080&crop=smart&auto=webp&v=enabled&s=486db41df3f2bd155a40de4f205c35891d26d75d
Made a stupid mistake and paid the price. I never thought NVDA would move like it did. I’m 20 and was planning on using this money to buy a house later this year. Closed all positions at open to save what I could.
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If it makes you feel any better 10k was still more than I had at 20yo
Irrespective of the loss… OP has some serious balls to post this considering how many regards are currently shoulder-deep in hookers and cocaine
Funny, the millions of 20 year olds on reddit who have never seen more than a grand, and this idiot is blowing through 60k like a complete moron.
Word of advice don’t invest or gamble with money you’re saving for a house. Just keep it in a high yield savings until you need the down payment. You gotta keep house money and fun money in separate accounts brother
I don’t get it, you bought calls? Didn’t calls print?
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Damn bruh, should have just kept it simple and bought FD’s. Guh.
How does a 20 year old get 60k to play around with on the stock market? Genuinely curious.
Every gambler is somehow 20. Weird…
>You made a mistake and paid the price. I never thought NVDA would move like it did. You’re 20 and were planning on using this money to buy a house later this year. Closed all positions at open to save what you could.
I’m confused. Wouldn’t the call options print? Am I missing something?
You should start an OF if you like getting fucked like this lmfao
You are 20 and already have the money to buy a house? Wtf
Lesson learned.
If you’re 20 and had 60k to blow on options, then you can make that money again. Next time, don’t blow it gambling on options tho. 99% of 20 year olds don’t have 60k nor a way to make that money. If you did indeed make it yourself then you’re fine and can do it again.
Sucks, but if you managed to save that much at age 20 , then you’ll be able to get it back before you know it.
back to the ole grind
hey man, it’ll be okay. i know it stings but your young and have plenty of time to make it up. let this be a lesson
This year has not been friendly to theta gang, at least on specific names. Stick to the indexes.
If you’re confused like I was, the 3rd picture is showing him closing the positions. He sold calls at a lower strike price and bought more at a higher strike to hedge his position, aka a bear credit spread. All you had to do was bet the opposite buddy
Where does a 20 y.o find almost 60k unless you be using your daddy’s money lol.
One of us, one of us
this is the kind of material ive been waiting on, thanks i can probably finish now.
I give him props for posting a loss. Most people post wins. Some of us can learn from this.
On the bright side, you used a spread to limit your loses. I imagine the loss porn would have been ridiculous if not for the spread.
I am a 33 y/o and I lost like $20K on SOXS and SQQQ combined since Jan 2023. Sold last Monday and took my losses.
Holy fuck some 20 y/o has $60k to lose.
You lost money you had, nothing happens, it would be worse to lose money you didn’t have
Is this all the money you had?
this post is a worth lesson for whom played on earning. Expected move and volatility kill both sides faster than FF X
I dont think all positions were your mistakes. Greedy was higher than usual
https://preview.redd.it/dh4mp5d46p2b1.jpeg?width=1242&format=pjpg&auto=webp&s=952da68d758724b314013a684c2c64f31ecf13ae
Can someone explain this sudden drop at 5:15?
Just think, if you had just bought calls you’d be a millionaire
This is the risk $60k to make $1k. You win 59 times out of 60, but when your luck runs out and you lose 60k it feels bad.
Now that’s some gambling right there. Literally bet the house on an earnings play.