It seems I cannot make a good trade to save my life (down 55k) 20 y/o
Loss
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Lmao :4267:
Imagine being an ultra gay bear in a strong bull market.
🤣🤣🤣🤣🤣
:4267:
:4271:
:4271: You = :52627:
Use that belt on me I’m down 500 with you
OMFG I'm saving this for work
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Fuck that’s so good
Jesus that’s funny.
just ask dad for more
I looked at his profile and his grandpa left him 50k when he died. Dude took less than a year to shit on his grave. Legit might be the dumbest person to ever post here
These types of posts make me scared to leave my kids money when I go. You work your whole life and struggle thinking you’re setting your future generations up for success. Then they just gamble it all away
Seriously. Worked and saved and left a solid down payment for a house just to be thrown into the garbage. Adult life on easy mode as soon as it started and said nah.
Can’t imagine being this disrespectful to my grandpa and I hate that guy lol.
thrown into the garbage
WRONG and RUDE! Some banker or thetagang chad will be using that regard's money on coke and hookers. Maybe even some tendies. That's money well spent!
How do I know? I was also on the other side selling those TSLA puts to 🌈🐻s. Netted myself a few hundred. The real shame is that I didn't get allocated or else I'd be up even more. Can't win them all I guess. 🤷♀️
no point of a downpayment if your job can't afford the mortgage.
Yeah my parents gave me and my siblings around 50k each to only be used for a down payment. I’m pretty sure I would have been disowned if I had spent it on litterally anything else.
Yeah; I will seriously consider a trust fund and just give them monthly payments instead of a lump sum. That’s if I will save up enough for them.
If you do that, don't tell them the principle amount, just that monthly payments of x will be routed. If they are smart, they will want to control the pot. And that might be for their benefit, but if you don't trust em, best to not half ass it. Buy an annuity, lock it up.
Or give it to them in stages after 30. Anytime under 30 is asking to be wasted lol…
I definitely would have wasted any inheritance under the age 30 or 35…
Just ban them from buying non-index funds lol
It’s all in how you raise your kid, if they are greedy and money flows through them like water probably not the best idea, if they have proven frugality through action and good sense they are worthy
Not sure that's necessarily true. People under the age of 25 are notoriously poor at risk assessment. Giving any kid a huge lump sum of money is a bad idea in my opinion, no matter how they were raised.
I disagree, I’m 20 aswell and if I had gotten 50k in inheritance it would be getting invested in ETFs for the long term and put some in a savings account accruing intrest It would be life changing for me
There are always exceptions, I read a book about the time value of money and the snowball effect of compounding when I was 14 and it honestly changed my life, I'm in my 30s now and basically set for life because of it
Most young people just don't understand or care from my experience. It's a very overwhelming thing to suddenly have a couple year's salary deposited in your bank, it's more than most of them have seen in their entire life
Which is perfect example of why we should teach basic finance mandatory for everyone in school
Yeah, but could you imagine what would happen to the economy if they taught that in schools?
Bunch of big businesses would begin closing their doors, and investors would be out billions.
No way big money would let that happen.
Do you remember the name of that book? Might make a good gift for our heirs.
Not OP but I enjoyed The Psychology of Money.
Naaaaa. My mom raised me with Jewish habits (I mean that in the most positive way) and drilled in me and my siblings to take care of our money because to spend it is easy but to get it is hard (her words). All of my siblings have 0 debt, including myself
Yeah, I was born on hard mode with poor parents but they taught us the value of a dollar and work ethic. It blows my mind how thoughtless people can be. I’ll definitely have to teach my kids the same
Then they should be fine, it’s the ones who don’t understand the value of accumulating wealth that end up like this poor guy, tons of puts on the exact same meme stonk lol
Gotta set up a trust. Protect them from themselves.
See how they handle money now. Give em a chunk and guide em. Let them show you their plans. Advise, you know, parent. And then when they get a real sum one day, you don't have to be scared.
In my parents will my sister and I only get the money if we have a degree, are 25, and no bad debt or missed payments
That’s why you leave money in a trust.
Yeah I think I may give more am consideration to starting a trust after this guy.
You can always setup trusts so they only get so much of a distribution every month, year etc.
You can set up a trust and have the trust disputes funds on an annual basis so they don’t blow it all. For example, the trust can start disbursing once they hit 30, they get 5%. When they hit 40, they get 30% of the funds. You get the point
They say most generational wealth only last 3 generations, thats why I buy my Lambos and tendies today. F them kids
Anderson Cooper is a Vanderbuilt with no inheritance because of how the money was handled in previous generations.
Dang, that’s just sad
What the actual fuck. I was laughing first at this point, but after seeing your comment, I wish I could just punch OP so hard in the face right now 🤦♂️ $50k down the drain due to stupidity. OP is trying to do the whole 'speedrun millionaire' shit.
😭😂
Bro coulda parked that in the s&p 500 and had a retirement plan sorted out
No way someone did something that stupid :31226::52627:
Legit might be the dumbest person to ever post here
Lol not even, maybe the dumbest person in the past few hours..
That's not dumb. People lose money on trades every single day.
It's just disrespectful.
That’s just so sad…
Fuck that makes me sad
Hahaha I was about to ask how many peckers he inhaled to get that! 😂 ole Joey chestnut head ass 😂
GRANDPA LEAVES YOU 50k AND YOU FUMBLE IT ON OPTIONS HUH???
He prefers to be called Daddy
Everyone this guy meets is his daddy
OP clearly a 🌈 🐻 so probably calls everyone daddy
Daddy Musk?
Those are not multiple trades… it’s the same damn bet multiple times, and you bet wrong.
Roulette is rigged, I put money on 2, 4, 6, 8, even, AND black! How did I lose?!
I only bet red until i lose it all
You have to double when you lose otherwise the strategy doesn't work
I do. It gets really fun when you lose ten grand that way!
Finally, I found my evil red twin. I go black, everytime. Start low, double the loss, and see how incredibly easy it is to see a 10 red streak.
Should have put it all on 00. Duh.
Also puts are mathematically less likely to be realized
If you don’t really have experience with options, you should only do calls
This is the best advice
Or do shorts and wait.
Gonna have to bet further out than a month
If you want your calls to print, you're suppose to convince regards to buy puts. Everyone jumping into calls results in that crash NVDA had at 140.
Realize DEEZ NUTS :27421:
Can you explain this more in depth
Market goes up more than down
But more generally an upward trend is usually more reliably predicted than a downward one. So he was betting Tesla would drop but that’s a pure bet, there’s no indication that it would drop because it had been rising so much.
Market goes up more than it goes down.
That should be priced in though :12787:
This is 100% on you for betting against a meme stock with fundamentals that don’t justify its valuation :4271:
How the fuck did you get 50k
Daddy’s money for sure
Check his posts. He got it from his grandpa who passed away. Fucking dumbass shit on his grandpa's grave by wasting all $50k quickly because OP fell for the 'speedrun millionaire' scheme 🤦♂️
User deleted comment
3d
Now I’m just sad for the dumb bastard. This is gonna haunt him
Literally. Grandpa's pissed
Damn that’s just stupid and shitty of OP
If he really wanted to play options he could've just sold puts and calls and made a great port in 5-10 years
Yea we need like 90% of that
please tell me it's student loans
Wait I thought Biden erased the student loan debt??????????????????
No but if you elect him again he gonna do it this time... Super seriously.
I just got a text that said Biden will start telling grocery stores to lower food prices if re-elected. Why wouldn't any president do that?
Mind boggling idk if thats even possible 😂
Super Cereal?
Whatever you did to get 55k at 20 y/o, keep doing that instead.
He's only got 1 grandpa left though, unless he can convince his mother's boyfriend's father to give him another 55k in inheritance.
Or before because he needs urgently to buy same call on Tesla...just before it collapses.
Something tells me that grandpa 2 won’t be as generous when he finds out what happened to the legacy of grandpa 1
Asking his father?
Jesus TSLA might actually hit 300 after seeing this
So i should buy?
No don't if you buy it'll go down. But if you don't buy it'll hit $1000 and split again
This is the sort of expert financial commentary I come to wsb for
Can’t make a good trade? You’re buying nothing but puts on a single stock where the sentiment is heavily shifting. Never bet against sentiment
I don’t understand why would someone be stubborn and fixate on one idea while the market is clearly telling you the opposite. You believe your mind and ignore the market, you end up losing because the market doesn’t give a penny about what you think
It's the biggest bull market since the 90s. I don't know how you're losing money. Stop trading, just put everything in a basket of tech and don't touch it for 10 years.
Also, go read up on chaos theory. Markets are not predictable.
Exactly TSLA is flying maybe best 3 days ever, and he KNOWS its going down trade the chart not your heart.
Nah. the best was when it went from 140 to 197 in like 3 days. Happiest 3 days of my life.
if this is truly like the 90s, op will come back 10 years later to find another 50% loss
Maybe maybe not.
Stop trading, just put everything in a basket of tech and don't touch it for 10 years.
Not gonna happen. By the look of OPs profile, he has a severe gambling addiction
Mother fucker didn’t even make multiple trades. Literally the same fuckin trade just multiple times
If you fail, try, try, and try again?
Please don't buy tesla calls you'll crash the company.
Just buy 30 more puts man, you’ll make it
Solid advice for opposite trades!
There's always money in the Wendy's dumpster
🍌 stand
🔥
Nobody gives a shit about your age lol you’re the moron who is gambling. Just be better
OPs profile is so wild. Severe gambling addiction
When did you buy this? You played 55k on a SHORTENED 1week expiry?
You bought Tesla puts when its up 10%. What a Regard:4271:
If you genuinely don’t understand what’s going on i’ll do you a quick favor as I browse Reddit and monitor some plays. That $240 Put Option is almost in the green already (), and you have 2 days before expiration.
If you genuinely believed it would go down for reasons x, y, z just hold. Panic selling due to not understanding the volatility of playing options is the easiest way to lose money.
NFA - i’m neither a bear nor a bull, i’ve made (and lost) money playing both sides. It doesn’t matter which trading strategy you pick, only thing that matters is how you time your entry/exit.
EDIT: i’m an idiot, I haven’t used WeBull in a while and mixed up the options’ avg cost column with its current market value. Still not impossible to come out green… but good luck OP🍻
I mean the market closes in 1 hour and it’s closed tomorrow then it’s Friday. So he has like half of a day left
Winnable
Extended hours today are till 3p if i’m not mistaken; in which case options won’t see any additional price movement but the underlying stock will as it can still be traded. Not sure how your’e counting Friday as only half a day..
How much it moves is key obviously, however I always get confused when I see people taking such a broad options strategies like this… but in only one direction 📈📉without placing a hedge option (even a low-cost unrealistic one) going in the other direction.
Friday is only half a day because many brokerages will force you to liquidate or exercise expiring options a few hours before expiry.
Exactly, you get it. Op has the first 5 hours of Friday and that’s it that’s why I said he has half a day left not 2 days
You're ignoring the premium they paid. $240 isn't gonna pay out.
Oh shit…. ($7.55).. okay you’re absolutely right, I totally did not see the premium he paid for it (also the $225 option). They must’ve bought ahead of time but it didn’t pan out.
I just saw the $227.50 put and thought all the options were in the same ballpark.
So, luck?
I would stay away from TSLA. It’s super unpredictable
Why dont you stop gambling and start investing.....
With what money tho 😂
a lot of these comments are pure mockery but tbh man, i feel bad for you. if i was in your shoes i'd first go to my grandfathers gave and say out loud everything you did, own it, tell him your mistakes. feel this pain, it should hurt and be lasting. then i want you to reevaluate your motives. these easy money gain posts are a cancer, and only affects <1% of investors.
start fresh. forget this happened and start back at square one. work hard, and try putting at least 25% of your income into ETFs and dabble in single stocks. never again open the pandoras box that options are, it's just not worth it.
you're just a regular person like the rest of us who made a mistake. learn from this, and become the man your grandfather would want you to be. good luck my friend.
it took me getting kicked in the balls with a $9k loss before I embraced risk management.
Insanity is doing the same thing over and over again and expecting a different result
So strange you got beat by an entire industry of professionals full of literal geniuses, Ivy League degrees in the subject and billions of dollars of tools and research.
I mean, I could see it happening occasionally, but it’s so bizarre that it keeps happening. It’s almost like you have no fucking business trying to beat them at the game they’re experts in.
If you want a good life with money, stop gambling and invest in good companies
With all due respect, sir, I'm not here to watch sensible people make sensible choices.
But he do short selling, he is real investigative investor shorting those bankrupt companies :4267::4271:
If I had 50k last year when I was 20 I would have 65k today… just buy ETFs guys
I feel better about selling my NVDA calls for +$30. Thank you
Profit is profit
If you earned 55k working and saving money, I'm so sorry bro.
If daddy gave it to you, you should definitely double down, these will print.
Maybe you shouldn’t have bet against Tesla.
Fuk the Bers
His problem is he followed reddit sentiment and believed rocket man is a fool and bet against him. The markets know Elon’s value to Tesla and it doesn’t matter how much Reddit hates him.
Man don’t touch Tesla when it’s on it’s bull runs, Tesla is not an easy to trade stock. Stick to something more predictable and safer
Stop playing options. You’re gambling and are very poor at it.
Are you Cathie?
Have you tried doing the opposite of what you are doing?
I am convinced puts are the easiest way to lose your money. If you don't like a stock, just don't buy it. Don't bet against it. The reason for that is if you simply browse this forum, you cannot account for the vast number of dumpster diving, bag holding regards who will still buy a shitty stock based on rationale that only Joe Biden could translate. I mean, I only buy puts on known dumpster fires like $PTON pennies after a run up. If you have to buy options, which you don't, buy calls if you have at least 4 good reasons why you should.
I agree; I don’t think I have very made money on puts no matter the time frame. The market is rigged to be bullish 66% of the time.
My biggest losses have come from being bearish… it’s a dumb bet majority of the time
Have you read about Kendu Inu? This shit is crazy! Why would Shytoshi Kusama follow Kendu at $1M MC and 300 holders. Something is brewing! This is where the money is at!
You had 55k at 20 years old you were set. Nice job regard 👍
Dude, I’m fucking regarded and I’ve been fucking slamming TSLA calls all week. How tf did you miss the fact that it was clearly skyrocketing?
Hold my friend
You’ll keep going until the loss affects your life and isn’t just a smaller number in an account somewhere
He said he is down 55k though, not that small...
Wasn’t enough for me
accept the losses and move on, there is a new play going on and pelosi just bought NVDA and AVGO so choose your player and get on board
Whenever I feel down on myself I’m just gonna revisit this post so I feel better
Tesla puts yikes, probably used the logic and numbers games on this one didn't you ?
To “put” it nicely, your expirations are very regarded, keep listening to us, you will figure it out next Monday
I am 65 and I will give you one advice only: never ever swim against the current.
This is the most scatter-shot strategy I could have imagined. It's as if you read a Reddit group and saw people saying "puts on tesla" and just went randomly clicking buttons that matched that description.
Fortunately, your contracts go through July 24, so there's still time to either get out or maybe the stock really will come down and you'll see some return. (But I doubt it.)
It’s July 5 2024 they expire. :4271::4271::4271::4271::4271::4271::4271::4271:
When in doubt, zoom out
Man you are in the wrong place. You are 20. You got time on your side. Go Bogleheads.
I like that you kept losing on telsa puts but didnt stop placing those bad bets lmao
No hedge. Bought all puts. Lol.
Welcome to the group.
Have you thought of buying VOO?
It’ll eventually turn and turn violently
You’re truly regarded with this play if you’ve ever traded before, you should know that once tesla is in momentum, there is no stopping
With Tesla I’ve learned that - whatever is obvious, do the opposite.
They’ve been reporting for months that deliveries are down? Buy Calls.
They’re predicting Tesla will SMASH earnings? Buy Puts
You can make good trades. But you are trading against momentum. Tesla has a weekly squeeze - go online and look up what is a squeeze. Also the stock closed above the 200 SMA on the daily chart.
Why would you buy puts when stonk is going up?
Why are you buying puts on the strongest stock in the market currently with a history of being the most illogical stock in the market
Why people gamble with Tesla is beyond me. There is no other company this dependent on just one man and his quotes.
I learned my lesson last earnings call. With Tesla not so bad news is great news so always go calls
Perfect. Just do all of your research and then when it's time pull the trigger, do the exact opposite of whatever you are thinking.
The Bollinger bands made me do it
Your fault for doing plays on dogshit stock like TSLA
You know what’s the worse part about this. All this contracts ending Friday. No spread out, not even buying dec 20. Nothing later. All in one week. This is how you truly do something without knowing what your doing
How regarded do you have to be to go all in against elon
Aint no fucking way. Someone clearly didnt see this https://x.com/elonmusk/status/1808156026123829599?s=19
Lol. Dude, save the puts for 265, jesus. Then sell at 205 and buy calls. This is textbook at this point.
Momentum will die with Tesla just as the market will with the time off. Expect next week for it to take back to 222
next week wont help this kid lol.
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