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    500 -> 90k -> 13.5k in 6 weeks – Got Fucked by Theta

    Okay, so I managed to run up 500 to 90k within a month and then proceeded to lose nearly all within a week, so far managing to lose ~80k in the span of one week. Now I’m down to my last 13.5k (transferred everything over to robinhood due to slightly more favorable buying power rules as seen in the last image which says 11.5k but another 2k wire is en route from webull so it’s 13.5k). Long story short is that I had a hell of a run with spy 0dtes and started really blowing up naively thinking that this would continue indefinitely, but then ego got the best of me and I started spiraling downwards and got fucked over by theta on many occasions. Let this be a warning to everyone else not to delude yourself into thinking you’re a genius when you get lucky with gambling. Trying to get rich quick only works until it doesn’t.

    25M with a six figure tech job and feeling I’m doing pretty well in my career with a lot more upside in the future, so it’s certainly not the end of the world, but damn does this hurt. Greed really got the best of me since I wanted to get rich in weeks rather than years and ultimately got my lesson from the school of hard knocks. Probably gonna need some time to mentally recover from this.

    TDLR: Don’t touch options. They will ruin your life.

    https://www.reddit.com/gallery/1puk9kp

    Posted by Syllabub_Visual

    View 31 Comments

    31 Comments

    4. the_usual_comment on

      “Don’t touch options they will ruin your life” … you turned $500 into 11.5k. You never had 90k if you were stupid enough to lose $55k in a single trading day and not see a problem.

      You ruined your own gains, not the options market. Read a book and realize if you’re original capital for 0dte is $500, it’s a slot machine.

    8. minding_money on

      All that i see is that you stopped in the middle of a wave trend on the downside. If you would have continued to play the game with lessons from your losses, i don’t see why you won’t be in 6 figures.

    13. Syllabub_Visual on

      Any words of hope and encouragement? Unironically the roasting does make me feel slightly better where at least I can think about all the friends made along the way.

    14. Intrepid-Ferret-1911 on

      Harrowing read. 25 year old with a six figure job has life ruined by going 500 to 11.5k. Truly a tragedy of greek proportions.

    15. HealthyMembership946 on

      How did you get from 500 to 90k pls? Like what plays snowballed that? Genuinely curious

    17. dirty_F0x on

      Some whores make less money than that and have to be fucked by more problematic customers than theta. What are you complaining about?

    18. Syllabub_Visual on

      Honestly could just withdraw that last 13.5k and go to Europe and Vegas and Hawaii and get bottle service at clubs and at least get to live it up for a few months so at least I get to experience something real from the money, then come back in a couple months with a clearer mind and an actual plan to make money. Might be the best thing to do for my mental health.

    19. dol1_ on

      Thanks to posts like these, I have never learned about options/leveraged trades, otherwise I’d be in the same position too. I don’t even know how to short, I just buy and sell stocks.

    20. Nuketrader on

      You’re a moron. Just take normal financial decisions, focus on your career, and you’ll be well off no matter what if you have such a salary at 25. If you wanna gamble a bit out of boredom, sure, but dont think you’re doing anything other than gambling

    24. No-Pea-7530 on

      You got fucked by making leveraged directional bets without an edge. Don’t blame options, blame yourself.

    28. Syllabub_Visual on

      You know, the one thing that gives me a slight amount of inner peace is the fact that I had no end game and that this was bound to ultimately happen. There was no magic silver bullet that would’ve made me stop at 90k, or probably even $1M for that matter.

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