Everytime i see you guys i think i can do the same. My heart sank trying out my 1st full port 0dte spy call. This was on may 1 and the markets were going up… how do i still lose money :(( i ended up losing a lot more that day but this trade was my all time worst
https://www.reddit.com/gallery/1tduuvf
Posted by navinator
12 Comments
Sorry for that. I know it hurts. But stop gambling. With Odte only the bank can win.
You sold calls while it was rallying?
Why tf would you put so much on 0dtes
https://preview.redd.it/xw5l52bnpa1h1.jpeg?width=320&format=pjpg&auto=webp&s=516811078be88e0a6e39595bddf5504bdb307033
450 contracts on your first 0dte is not a learning experience that’s a surgery
ODTEs arent a coin flip, they’re a lotto scratcher. Big difference between buying $100 worth, and $16,190.
https://preview.redd.it/ia005whdqa1h1.jpeg?width=1206&format=pjpg&auto=webp&s=3fd334245cd11ac2a880f6ae028de0864868f9e9
How much you got left to play with?
Selling 450 contracts of SPY 0dte at $0.35 with a $725 strike while market was going UP is genuinely next level commitment to the bit. You didn’t just lose money, you paid $16k for a lesson that every 0dte seller learns eventually: theta works for you until it violently doesn’t. Welcome to the club, the jacket is made of margin calls.
How we avg down the position to zero lol
Yeah but imagine if it had worked out
1st of May SPY opened at 721, closed at 720 but made it to 724.87 during the session, so sometime during the market hours you could have made profit.
Ever heard of a stop loss? You deserve it tbh.