Hey everyone… I thought I would share my options losses. I am 18 years old and have been accumlating stocks in a fidelity account since I was 15. Between money saved up and smart investments I got to about $18,000 in stocks by the time I turned 18 and the assets were transfered to my name. I had been trading options for these 3 years on a webull account under my moms name. For the most part I lost money but used it to learn. I told myself I would not use the $18,000 for any options trading but my high risk tolerance got the better of me. I tranfered the stocks from fidelity into a fresh webull account when I turned 18.
Results were strong at first. I was using good risk management and only buying in/at the money contracts with about a month till expiration. I was able to turn the 18k into 30k at my peak pretty fast playing breakouts on COIN MARA ENPH and LLY. However, the start of my demise was when I started purchasing tons of LLY calls out the money thinking it was about to fly. I saw a $6,000 loss from my peak and started revenge trading. I should have just stopped out and moved onto the next play, but instead I purchased LLY calls expiring the next day for $8,000 and held the other $5,000 worth of calls exprining in a month. LLY dropped about 2% and I got burned. 2 days later my account sat at $11,400. This was when I thought I would get back to basics and buy month out SHOP calls and play the rally back up. This rally didnt ccome and my account got slicced to $8,000 by the next day. At this point I was terrified for what was happening and thought I needed a play to make it all back. I purchased SLV calls expiring in 2 days thinking it would ccontinue its momentum. After a shocking morning I looked at my account and saw about $1,100. This brings us to yesterday where I used the remainder to purchase out the money puts expiring today. My analysis paid off and the marrket tanked. At my peak today I was sitting on $10,300.
Even though I had 10x my money I wanted my take profit to be when SPY reached 518.28 as it had previously bounced their. SPY ended up bouncing off 518.37 and I bag held the spike thinking it was a dead cat bounce. Fast forward an hour or so I finally took profits and my account was sitting at $2,700. Unsatisfied with how I just traded I went all in on SPX puts at 1:50 today thinking the bounce had finished. This was not the case and SPX rallied.
After finally stopping out my account now sits at $601.
I don't know what to do
Posted by Powerful-Cry4049
37 Comments
You keep playing options…still have $601 to gamble with.
So you’re saying there’s still a chance
just go long rope
As soon as you got the money your first thoughts were calls and options?😂😂
4% from 100% bro. Never give up 💪💪💪
By smart investments you mean index funds and MAG7? I mean if you 18 you are still very young, I know this is a large sum of money for you. But if you start working, you can make it back again. Learn risk management, if anything have 70/30 of your port 70% more safe options like ETF’S, index funds, blue chips and then 30% for like you options (gambles/risky plays). You can even do 80/20 port. This is a longevity game in the stock market not a get rich quick. You got this every failure is a step to success, as long as you keep getting up. Never give up and keep your eat up, and take a breather from stocks like a reset, fresh mind, fresh everything. I’m hoping the best for you.
Username checks the fuck out 
You belong here 
>My analysis paid off and the marrket tanked.
90% down and at this point you still think you’re doing “analysis” this shit is priceless
‘My high risk tolerance got the better of me’
Reading it now, do you see how insane that sounds? You are confusing ‘risk tolerance’ with ‘appetite for *edit:* high risk plays’ – being able to cope with risky moves is separate from a hunger to make risky moves. Am I making sense here?
Furthermore, you clearly don’t have high risk tolerance because of how you reacted to the risk you put on. You explain your decisions as if they are methodical, yet you admit your last move was driven by an unsatisfaction with how you traded which led to you going all in.
You, like many here (*edit: including me*), absolutely don’t have the stomach for this type of risk tolerance – a willingness to take risks is different from the ability to stomach them. Also, and here I eat my earlier words, does gambling on daily, nay, hourly movements really have anything to do with risk tolerance? I’m not so sure.
I haven’t sold my car because I don’t want to take the bus. Only play with what you’re willing to lose.
So you decided to yolo everything in options without understanding jack shit ? Yes my fellow regard, you belong tf over here. I don’t know how but you managed to break every single trading rule –
No stop loss
No analysis
Revenge trading
No daily stop loss – I lost 500 for the day and I stop trading
No indicators
Trading on THINKING
Trading on the same stock forever
Far OTM options
No time for expiry
And many many more….
Wtf were you even thinking if you were even thinking ?
Maybe try some Lego, trading not for you
I will do you a favor.
https://preview.redd.it/5x9zyj7clt3d1.png?width=818&format=png&auto=webp&s=a0dca05c9109141c7613ae49b66542cb7621802e
Get a job?
You are not investing !!! You are gambling
You will get it back now u have learned so much !! Don’t give up I’m down 280k buddy
$601 is enough money to make it back to $30k 🙂
What can you do? You’re a broke teenager with a gambling problem. Luckily the broke part will now keep you from fulfilling the addiction part. Step away from the market, take it as a lesson learned and go live life and get a job after school and in 7-10 years start investing again…but a lot more wisely.
Where did your high risk tolerance go
Bro you’re 18 and honestly, this is not as much $ as it seems to be right now. I tell this to every single teen person I meet- if you trade at all, you WILL lose your money. If you boglehead invest and don’t touch it for 20 years, you have the ability right now to set yourself on a trajectory for early retirement and a good life. Only 5% of traders ON EARTH can beat the strategy of just buying and holding. I trade options but it is with a small part of my net worth. The other is sitting in vanguard ETFs. Read the book “The simple path to wealth” and see if you get anything out of it. Follow that strategy except you could pick what ETFs to invest in long term.
You’re going to want to focus on steadily increasing your earning potential over the next 20 years, while investing aggressively in index funds and vanguard ETFs. When you reach your first 100k in savings, give yourself about the next 20k to set up a “play” account that you can gamble options with. Then go back to the buy and hold strategy. Good luck. It feels like the end of the world now, but we have all been there. Losing a bunch of money fast is the first lesson everyone learns in the stock market. Now understand there are different ways that don’t require you to lose $
>This brings us to yesterday where I used the remainder to purchase out the money puts expiring today. My analysis paid off and the marrket tanked. At my peak today I was sitting on $10,300.
No, your “analysis” did not pay off. You guessed a direction and got lucky and it saved you. You should have taken this as a lesson and stopped here.
“I might be a prodigy” -this guy 
a feeling I am way too familiar with during a bull market
Got $18k from 15-18year old. Buddy do your parents pay you $50 an hour to clean the house? And $20 while being on call?
What the heck is with your spacing? Are you double spacing between every single word?
There is always going to dipshit teenagers who think they’re super geniuses. I applaud u for your exit liquidity 
Your what, analysis? Paid off? You’re just gambling. Given that between two choices you’re correct in less than half cases, a coin is a better analyst than you are
you kinda deserve this for not cashing out when u 10x back to 10k but rip bro
Why do you press the space bar so much?
My brother in Christ. Stop gambling. You’re not making mistakes around your approach. You’re just gambling. You’re young and it’s only $18k.
Consider it a lesson and stick to vanguard before you fuck up your life.
If you think you are smart enough to beat everyone else in the market you should be smart enough to go make it rich at a real job. Focus on school, work, friends and never think about options and trading ever again. (It’s gambling but worse because you can always fool yourself into thinking you have a new “analysis” or method that will work this time.
https://preview.redd.it/84q9balh5u3d1.jpeg?width=792&format=pjpg&auto=webp&s=c1b5cc27cf1d204890ff507f2b960b9e523d9a61
Bro, you double spaced between every word in this post. Why did you do that? What is wrong with you? I’m getting sick to my stomach thinking about it. I don’t even care about your losses.
Just contact customer service and apologize. They should give you the money back, no problem.
That is what happens when you treat the market like a casino, kid. Learn from this. Don’t get into options you little fk. And if you do… Only use 20% of PROFITS you already made by investing. That way you at least only gamble part of your profits and not your entire capital xdd.
You are young enough to recover, boy.
Stay strong.
Don’t listen to these apes.
Just think, for $18k you could have learned about stock valuation and risk management.