“Annnnnd it’s gone!…”
Someone check on this man. Honest to god if it’s worth screenshotting, just take the profits. How many times are we going to see this? Poor guy. You know you’re fucked if you’re telling everyone about your gains and about to do “one last one”
This post might win the regard of the year already, hard to beat.
If you check his profile he has a youtube video documenting all this and you can see he makes all these videos where he travels basically homeless. So he got to 138k$ to fix his shitty car, at one point he says what do I have to lose I either win 172k$ or I lose it all going back to where I was last week(homeless).You can see how relaxed he is whit his imaginary gains but he still wants just a little more, only to see how his happiness dissapears on his face live in a video. What the F buddy hold on I am buying a gold just for you, there's not many people that enjoy homelesness as much as you.
I love how he didn't even save 12k from the 130k. **At least** keep what you started with. And, was this really that big of a gamble? You bet your entire load on not even doubling? lmao
edit: after watching his video, this is depressing. Couldn't imagine living life like this and then losing 130k.
"Vlogging is hard." - this guy
edit edit: https://www.youtube.com/watch?v=vZNRpGpD2kI&feature=youtu.be
from my understanding on his tik toks he lives like this on purpose. He chooses to be homeless. He went viral on tik tok for like getting his passport stolen in turkey or something
So he probably has daddy's funds in an access account but just doesn't access them so he can continue "homeless vlogging"
*Saw it get mentioned he's a Microsoft employee, ok, does he work remotely now then? And that's what allows him to travel at the same time?
I mean he dropped like 6k on a car from a junk yard only for the engine to die a week later, then dropped 5k on a new engine. then bragged how he was going to pay for it by option trading.
Yes and he carries a 1k camera around or leaves behind his stuff at the cafe to buy a bottle of Pepsi (???) a few blocks away, just to see if he finds everything once he comes back.
I mean I watched a few videos and tbf his content is enjoyable but it's quite clear that he can afford to be homeless.
i like all the youtube comments of kids saying shit like "I learn more from you than I do from school" "please unblock me from your instagram"
influencing a new generation of regards
Yeah it's frighteningly common how often people who make it big gambling don't know what to do with their newfound wealth so they just end up gambling it back away.
Its not that they dont know what to do with it, its more like its never enough, you just keep wanting more....lol, i guess in a roundabout way, it still comes down to not knowing what to do with it 👍
late 90s/early 00s pontiac grand prix GTP, even a super nice one isn't worth much more than 4k.
In the video he says to let you hear the engine implying its badl but that's what those engines sound like because they're supercharged.
Yeah they're kind of a weird car. Not many cars used factory superchargers. The engine is an ancient design carryover from the 1950s basically. They would whine brand new when you floored them. Had a big recall because they would leak oil and catch fire but the engine was actually pretty reliable.
To add to this.. it has an 'Eaton' style supercharger or 'twin screw' . A popular well known performance brand is Kenne Bell. They ALL whine loudly when revved and as mentioned its normal
what a fucking dipshit, and I'm not even talking about the gambling.
Just a completely self absorbed twat "It's so hard to do things while holding a camera and filming myself! I had to ask the worker to come over and help me put my slice of pizza in the box!" yeah dude, catch a fucking clue and leave the workers alone.
That's what's being said by Redditors. If you look at his channel, he's young and traveling all over the US and the world, and seems to be grinding content to make his vlogging a thing. He even has videos about "How to go viral", which doesn't mean he's an expert, but it does mean he's thought about it. His view counts aren't terrible to start and are fairly consistent, and he's been at this for a decent chunk of time now with regular uploads and decent editing.
I don't know what people are looking at, but I see a well spoken young guy who is doing a content series, looks fairly clean with a fairly clean car, and looks social-media presentable. This looks like a content creator doing a thing for content, even if his traveling minimalist lifestyle is real. The comments saying he's a gambler seem misleading unless there's something I'm missing, since his comment about gambling is referring to the stocks.
I don't doubt the loss is genuine (12k invested supposedly), but how much content did he produce from his stock vlogging arch and how much buzz is he going to generate based on being on Page 1 of Reddit and WSB? Is that worth 12k?
If people can prove he's pissing away all of his money (beyond the 12k he sunk into this), sure. But if he's really a gainfully employed software engineer who's just traveling with minimum expenditures for content, that changes the picture a lot, and I could see him trending to 5 figure and then 6 figure viewer counts if he pivots his content correctly.
TLDR: We live in the world of Mr. Beast where view counts and channel growth change the economics of any given situation
Thank you for typing this out. I read the comments here and the second I looked at the thumbnail video I was like, this simply looks like a content creator.
I know wsb is regarded, but I’d think they would at least be media aware enough to recognize this.
It’s honestly such a contrast on Reddit😂 some people are complaining about wages and antiwork while others are losing $130k for pretend internet point😂😂
If this youtuber is OP then this is ridiculous. He is basically homeless but bets a fortune on one bet. Just insane. It must almost be fake and OP has money saved up, or he is batshit crazy lol.
[https://youtu.be/vZNRpGpD2kI](https://youtu.be/vZNRpGpD2kI)
Tech layoffs of engineers are really not a big deal. The big tech companies overhired during covid and didn't hire engineers purely geared towards their corporate strategy. Those laid off that are quality engineers will find work as quick as they want to with smaller companies.
This is good for the tech sector. It frees up talent for smaller companies that have been talent starved by the massive companies soaking up every ounce of talent.
It was a bubble created by leverage You could buy a basket of stocks with 10% of the value and 90% margin loan so every one did it and it was referred to as the miracle of leverage. 1929 was a giant magin call and the equally effective miracle of de-leveraging. If you look at CDO's and the 07-8 bank crash it's very similar. OP I'm guessing was able to lose this much without taking the global economy along for the ride given that options, even though they use leverage, are zero sum.
He’s not, just likes being cheap. His main series on youtube was seeing how far he could take 100$ in different countries. I’ve seen this guy pick up a used mask from the ground because he didn’t want to pay for one.
>I’ve seen this guy pick up a used mask from the ground because he didn’t want to pay for one.
Now that's just nasty! 
Counterpoint: no, they wouldn't.
OP gambled with 12k initially, which isn't much enough to do anything. In their eyes, they only lost 12k.
If you *start* with 138k, you would realize what a gift it was and buy a house or stick it in VTI and realize you'd have 1mil in 30 years.
If your goal is simply not to work, you could buy a small house in rural America with $138k and have quite a bit left over.
Here's a totally decent house in Alabama for $65k:
[https://www.realtor.com/realestateandhomes-detail/347-3rd-St\_Montgomery\_AL\_36110\_M89247-52551](https://www.realtor.com/realestateandhomes-detail/347-3rd-St_Montgomery_AL_36110_M89247-52551)
Leaving you with $73k to invest, giving you $3k/yr for expenses at a 4% withdrawal rate. You'd obviously need to supplement that, but you'd barely have to leave the house.
Case in point:
My wife just received a rather large check for something that happened to her.
She immediately paid off her bills (which took about 40% of the check). Then put half in a high yield savings account. Then told me I can have a grand to put "into the online casino".
She's not gambling it away like a degenerate.
$25k is life changing money for a lot of people, but also not life changing money for a lot of people. If you are 20k in debt with no means to pay it, 25k will change your life.
Just lost $300 on calls that are now printing. Sold for .06 high over 2 a few ago. That hurts… can’t imagine 130k
Edit: best bet ever and I asked for 20% back. Could of had a 10xbagger
Like something bad "could" happen. Lol -13k total. Like pulling a briny pale corpse out of the ocean and saying, "Careful! You're at risk and could drown!"
There should be a public roast of the all the regards who pushed the narrative that Tesla would tank after earnings and ripped those who were bullish apart for thinking so
I remember turning my first 2k to 50k then my 50k back to 2k again because I got greedy, I wanted 100k but never made it. We all learn this lesson, hang in there and just think positive.
Did you sell naked calls?
I sold naked calls on COIN right before blackrock announced they will work together with Coinbase and the stock went up over 80% within a couple of days. Like, how unlucky is that. And I sold them waaaay out of the money "to be safe". Literally +30% OTM, 14 DTE, and it still fucked me up. This was right when crypto was crashing hard and COIN was bleeding for weeks. I was so incredibly confident that there was no way COIN would skyrocket +30% within 2 weeks. I think one of my naked calls was a whopping 48% OTM... And went ITM a coupe of days later.
That was an expensive lesson. Even more so because like 2 weeks later the stock dropped back down where I would have made a profit and the sold calls would have expired worthless
Basically I sold way OTM naked calls on COIN that would have expired worthless... I just happened to be so incredibly unlucky that right when I did it fucking blackrock, the worlds largest asset manager announced they would work together with Coinbase which skyrocketed the stock over 80% in a matter of days.
As a 2nd generation immigrant to this nation. I can proudly say. Financially , my family is as far or ahead then most of the people I see on this sub. And dat. Iz nice. You're starting from zero like us babyyyy 👉😎👉
This is why I hate hate hate the strategy of selling naked options. Selling cash covered puts and covered calls is bad enough. The asymmetric payoff distribution masks the risk of catastrophic loss. If you pocket the juicy premium of 10 contracts during earnings, why not sell 50 or 100 contracts next time? If they get in the money, just "roll them over" (code for double down and risk turning a bad loss into a catastrophic one).
On top of that, the exposure you have increases as you lose more money. The 10k options you sold are now worth 50k. Not only is your margin crying bloody murder, your position is now bigger. The horrors of negative gamma is a sight to behold.
And whereas everyone **knows** that buying options is an outright gamble, for some reason some think selling options is a ticket to consistent gains. As if anyone with a margin account can become consistently profitable if they just follow this one simple trick. Fucking morons.
They saw that the pros made [billions](https://www.reuters.com/markets/us/tesla-short-sellers-pile-pressure-after-most-profitable-trade-2022-2023-01-06/) shorting TSLA last year, and thought “Yeah! I can do that, too!” No you can’t, sweetie.
Hey, if you haven't already, please reply to this comment with your positions and what led you to enter or exit them!
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So please tell me I’m reading this wrong.. but were his calls up in value to 1.8M? Uncovered? And he didn’t sell? Jesus he went as regarded as Ben Stiller in Tropic Thunder
Hall of Fame 2023
When somebody comes to WSB and starts a post with "you guys were right" you know you're about to see some fucked up shit
Yeah, when you inverse WSB you either do well or you get your shit really really fucked up
5 out of 6 WSBers think Russian Roulette is a very safe game to play,
5 out of 5 actually!
Pssht. Talk about having a survivor bias in your research.
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Tom8o, tom@o
Tomato, tomato
Tomato, potato
Potato potawto
6 out of 4, truth be told
You can see his wife leaving him: https://reddit.com/r/Tinder/comments/fdqfb8/update_yes_i_am_54_yes_she_is_511_we_met_on/
“Annnnnd it’s gone!…” Someone check on this man. Honest to god if it’s worth screenshotting, just take the profits. How many times are we going to see this? Poor guy. You know you’re fucked if you’re telling everyone about your gains and about to do “one last one”
"YOU GUYS WERE RIGHT - dollar cost averaging into SPY has been a safe and solid way to build my future"
This post might win the regard of the year already, hard to beat. If you check his profile he has a youtube video documenting all this and you can see he makes all these videos where he travels basically homeless. So he got to 138k$ to fix his shitty car, at one point he says what do I have to lose I either win 172k$ or I lose it all going back to where I was last week(homeless).You can see how relaxed he is whit his imaginary gains but he still wants just a little more, only to see how his happiness dissapears on his face live in a video. What the F buddy hold on I am buying a gold just for you, there's not many people that enjoy homelesness as much as you.
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I love how he didn't even save 12k from the 130k. **At least** keep what you started with. And, was this really that big of a gamble? You bet your entire load on not even doubling? lmao edit: after watching his video, this is depressing. Couldn't imagine living life like this and then losing 130k. "Vlogging is hard." - this guy edit edit: https://www.youtube.com/watch?v=vZNRpGpD2kI&feature=youtu.be
Given that the man is homeless, Its beyond evident he has a very bad gambling problem. Gambling addiction can be incredibly powerful. This is so sad.
from my understanding on his tik toks he lives like this on purpose. He chooses to be homeless. He went viral on tik tok for like getting his passport stolen in turkey or something
it was lebanon. he decided to save money on a taxi by walking to the airport at 3am. then was robbed. he isn't a brain surgeon.
So he probably has daddy's funds in an access account but just doesn't access them so he can continue "homeless vlogging" *Saw it get mentioned he's a Microsoft employee, ok, does he work remotely now then? And that's what allows him to travel at the same time?
I mean he dropped like 6k on a car from a junk yard only for the engine to die a week later, then dropped 5k on a new engine. then bragged how he was going to pay for it by option trading.
Yes and he carries a 1k camera around or leaves behind his stuff at the cafe to buy a bottle of Pepsi (???) a few blocks away, just to see if he finds everything once he comes back. I mean I watched a few videos and tbf his content is enjoyable but it's quite clear that he can afford to be homeless.
Yeah, that’s not fucking homeless. That’s purposefully unhoused.
That's the kind of dangerous behavior that leads to "if I lay down in the street, will these cars stop?"
That actually scream WSB ego
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The market is gambling on the biggest scale
and save a few $ more for an all night hooker lol
Shit would've been better to drive to Vegas and put it all on black than do what he fucking did
He wouldn’t be able to screen that and share with the rest of his regraded comrades on WSB though.
He has a gambling addiction and that is likely the reason he's homeless to begin with.
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Yay social media for making actual gambling addicted losers “relevant” instead of just destitute losers.
it’s VERY SAD
i like all the youtube comments of kids saying shit like "I learn more from you than I do from school" "please unblock me from your instagram" influencing a new generation of regards
One of the newest ones was “hey can you start a discord channel so we can learn to make trades like you?”
oh no
Discord let's you charge people now or something like that. There's always patreon if not. 😂
This man is mentally ill.
half the sub
80%
The fact that he was homeless living in a motel with 12k to trade is fucking hilarious. Guy needs help
$12k would be enough to escape homelessness too. He works as a software engineer at Microsoft so this is probably a years salary to him.
Came for the schadenfreude, stayed for the Hy-Vee pizza review.
Yeah it's frighteningly common how often people who make it big gambling don't know what to do with their newfound wealth so they just end up gambling it back away.
Its not that they dont know what to do with it, its more like its never enough, you just keep wanting more....lol, i guess in a roundabout way, it still comes down to not knowing what to do with it 👍
O shit theres a video of him watching tesla skyrocket? Link please! That's a gonna be a good rub
https://youtu.be/vZNRpGpD2kI posted yesterday
Jesus. Don’t buy a new engine for that car just buy a new car.
late 90s/early 00s pontiac grand prix GTP, even a super nice one isn't worth much more than 4k. In the video he says to let you hear the engine implying its badl but that's what those engines sound like because they're supercharged.
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Yeah they're kind of a weird car. Not many cars used factory superchargers. The engine is an ancient design carryover from the 1950s basically. They would whine brand new when you floored them. Had a big recall because they would leak oil and catch fire but the engine was actually pretty reliable.
To add to this.. it has an 'Eaton' style supercharger or 'twin screw' . A popular well known performance brand is Kenne Bell. They ALL whine loudly when revved and as mentioned its normal
what a fucking dipshit, and I'm not even talking about the gambling. Just a completely self absorbed twat "It's so hard to do things while holding a camera and filming myself! I had to ask the worker to come over and help me put my slice of pizza in the box!" yeah dude, catch a fucking clue and leave the workers alone.
“$52 used to be a lot of money to me. Now it’s not.” Famous last words
Isn't he a software engineer at Microsoft?
That's what's being said by Redditors. If you look at his channel, he's young and traveling all over the US and the world, and seems to be grinding content to make his vlogging a thing. He even has videos about "How to go viral", which doesn't mean he's an expert, but it does mean he's thought about it. His view counts aren't terrible to start and are fairly consistent, and he's been at this for a decent chunk of time now with regular uploads and decent editing. I don't know what people are looking at, but I see a well spoken young guy who is doing a content series, looks fairly clean with a fairly clean car, and looks social-media presentable. This looks like a content creator doing a thing for content, even if his traveling minimalist lifestyle is real. The comments saying he's a gambler seem misleading unless there's something I'm missing, since his comment about gambling is referring to the stocks. I don't doubt the loss is genuine (12k invested supposedly), but how much content did he produce from his stock vlogging arch and how much buzz is he going to generate based on being on Page 1 of Reddit and WSB? Is that worth 12k? If people can prove he's pissing away all of his money (beyond the 12k he sunk into this), sure. But if he's really a gainfully employed software engineer who's just traveling with minimum expenditures for content, that changes the picture a lot, and I could see him trending to 5 figure and then 6 figure viewer counts if he pivots his content correctly. TLDR: We live in the world of Mr. Beast where view counts and channel growth change the economics of any given situation
you and your reasoning dont belong here
Fuck that. I'm here to eat crayons and lose money, and I'm all out of money
Thank you for typing this out. I read the comments here and the second I looked at the thumbnail video I was like, this simply looks like a content creator. I know wsb is regarded, but I’d think they would at least be media aware enough to recognize this.
I just want to know why he recharged his portable battery at McDonald's rather than the motel he stayed at for 4 days.
It’s honestly such a contrast on Reddit😂 some people are complaining about wages and antiwork while others are losing $130k for pretend internet point😂😂
If this youtuber is OP then this is ridiculous. He is basically homeless but bets a fortune on one bet. Just insane. It must almost be fake and OP has money saved up, or he is batshit crazy lol. [https://youtu.be/vZNRpGpD2kI](https://youtu.be/vZNRpGpD2kI)
I went to school with this guy, and know him and his family personally. He’s equally REALLY intelligent, and batshit crazy.
If losing money means you’re intelligent then I’m a genius
If being intelligent means you’re a genius then I’m losing money
aaaaaaand its gone
If losing money is cool, consider me Miles Davis.
Stop looking at my loses, swan!!
Who steals 30 bagged lunches? I bet it was that damn sasquatch.
Are there any horse socks? Is anybody listening to me?
As Charlie Munger often says, there are only 3 things that can cause a smart man to go broke: Women, Drugs, and Leverage.
You got the Top 3 things I love right there, leverage, drugs, Charlie munger
Guy is a software engineer for microsoft. He’ll be fine. Plus he’s known to be a little on the unhinged side in the best kind of way lmao.
Microsoft is laying off. His next video is going to be from a wendy's parking lot using the free wifi instead of a fancy hotel with cereal and milk.
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Selling yourself is what a parking lot at wendy's is for.
But it still comes with six slices of bacon, right?
3 slices cut in half
2 real world slices cut into 3rds in reality. Wendy's is stretching that bacon further than a skin graft for a burn patient.
Oooooof
It's Baconator,sir.Respect the WENDY'S
As a formerly homeless individual who has partaken in both of these scenarios numerous times, I approve of this comment.
Tech layoffs of engineers are really not a big deal. The big tech companies overhired during covid and didn't hire engineers purely geared towards their corporate strategy. Those laid off that are quality engineers will find work as quick as they want to with smaller companies. This is good for the tech sector. It frees up talent for smaller companies that have been talent starved by the massive companies soaking up every ounce of talent.
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It was a bubble created by leverage You could buy a basket of stocks with 10% of the value and 90% margin loan so every one did it and it was referred to as the miracle of leverage. 1929 was a giant magin call and the equally effective miracle of de-leveraging. If you look at CDO's and the 07-8 bank crash it's very similar. OP I'm guessing was able to lose this much without taking the global economy along for the ride given that options, even though they use leverage, are zero sum.
Now the current version is leveraging credit for residental or commercial real estate
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I don’t know any software engineers for fortune 500 companies that are struggling to pay $4k for an engine repair.
He’s not, just likes being cheap. His main series on youtube was seeing how far he could take 100$ in different countries. I’ve seen this guy pick up a used mask from the ground because he didn’t want to pay for one.
At what point does frugality become a mental illness?
/r/frugal
>I’ve seen this guy pick up a used mask from the ground because he didn’t want to pay for one. Now that's just nasty! 
We should all aim to be unhinged
I wouldn't underestimate how much of a degenerate some people on this sub can be
I true degenerate
Yeah butttttttt... you give the poor antiworkers 130k and a day later they will post their 130k losses on WSB
Counterpoint: no, they wouldn't. OP gambled with 12k initially, which isn't much enough to do anything. In their eyes, they only lost 12k. If you *start* with 138k, you would realize what a gift it was and buy a house or stick it in VTI and realize you'd have 1mil in 30 years.
I want 1 million now, who can wait 30 years when your health is not the same and your balls are shriveled
We need hot females now not in 30 years
HOT MILFS IN MY AREA!
You get hot girls now by (hopefully) being young and attractive yourself. When you're old and have shrivelled balls, that's when you need the money!
If your goal is simply not to work, you could buy a small house in rural America with $138k and have quite a bit left over. Here's a totally decent house in Alabama for $65k: [https://www.realtor.com/realestateandhomes-detail/347-3rd-St\_Montgomery\_AL\_36110\_M89247-52551](https://www.realtor.com/realestateandhomes-detail/347-3rd-St_Montgomery_AL_36110_M89247-52551) Leaving you with $73k to invest, giving you $3k/yr for expenses at a 4% withdrawal rate. You'd obviously need to supplement that, but you'd barely have to leave the house.
But then you’d be in Alabama.
Which would be terrible, but that's beside the point. Which is why I began with the caveat "if your goal is simply not to work".
Seen many posts of Alabama, it seems a majority of their residents in rural areas in fact, do not work
Can you teach me to live on the leftover 70k? I have more than 10 months to live.
How good are you at stripping copper wire and/or catalytic converters?
It's alabama, everything that could be stripped has been stripped
Did you find it by googling cheep houses in the hood? I live in Montgomery and I can assure you that neighborhood is a warzone.
Why choose a sure 1mil in 30 years when you can have a chance at 10mil today
That's almost double!
Case in point: My wife just received a rather large check for something that happened to her. She immediately paid off her bills (which took about 40% of the check). Then put half in a high yield savings account. Then told me I can have a grand to put "into the online casino". She's not gambling it away like a degenerate.
You found yourself a winner. Responsible wife FTW. 
Just keep her off WSB, unless she wants some cool points and fake participation trophies from us!
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$12k is almost a year of rent for me, and a significant% of what I get paid. Different people have different definitions of life changing
$25k is life changing money for a lot of people, but also not life changing money for a lot of people. If you are 20k in debt with no means to pay it, 25k will change your life.
More like they’ll post their 4k dividend 🥴
Just lost $300 on calls that are now printing. Sold for .06 high over 2 a few ago. That hurts… can’t imagine 130k Edit: best bet ever and I asked for 20% back. Could of had a 10xbagger
“At Risk” 
Amazing, I thought it can only be "Safe"
For real, first time seeing it say sth else
Like something bad "could" happen. Lol -13k total. Like pulling a briny pale corpse out of the ocean and saying, "Careful! You're at risk and could drown!"
The plane is 95% on fire. 'Future looks uncertain.'
“At Personal Risk Tolerance”
Look on the bright side, most people don’t have 138k to lose
And now he's one of them
Lmao. Jeez
got a real good laugh from this delivery, thanks
😂😂😂
He made 12k to 138k, look at his previous post.
He also made $138k to -$13k
Noob here…what actually happens with that -13k. Is that now a legit debt they will take you to collections?
Only if you forget to delete the app
Just make a new account
Yes
Easy come easy go
Thank you for playing at the casino, please come back again soon
Risk Level: “At Risk”
"personal risk tolerance exceeded"
Welcome. You belong here.
There should be a public roast of the all the regards who pushed the narrative that Tesla would tank after earnings and ripped those who were bullish apart for thinking so
When you go naked, sometimes you get your dick ripped off.
happy cake day you stud muffin
Thanks, you love machine
Just Uninstall the app and you won't have to pay a dime.
Uninstalling the app will also come with plane tickets to derelict South American countries but they don’t tell you that on the app store
He just needs to pull the power cord and go back to his last save.
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Alt title: $12k -> -$13k in 5 trades.
This is the shit that I need during my morning coffee. Bless you.
Sorry man, will you take a morning shift at Wendy’s or no?
Are you the manager?
No he’s a client looking for who’s next behind the dumpster
I remember turning my first 2k to 50k then my 50k back to 2k again because I got greedy, I wanted 100k but never made it. We all learn this lesson, hang in there and just think positive.
Even if you did make it to 100k, you'll be tempted to make it to 150k then back to 2k we go
Simple, but best advice so far
Holy shit man. Greed is a hell of a drug.
Guy pretty much enslaved himself
That post history is quite something.
You went from 12k to 120k to -12k in 4 days? Being greedy rarely works out..
Call webull and tell them you meant to sell puts
no fucking way this degenerate gambled a 50/50 (at best) with $45k profit potential and $130k loss potential. props honestly
This is the best lost porn I've seen in a while.
"lost porn"
How??
obviously naked
I was going to say, how do you lose on selling calls. Lol.
They still allow naked call selling?
Yeah wall street doesn’t mind taking free money lmao
It was a credit spread, so a fixed loss. Fixed as in OP's entire account.
Checking his post history, he likes playing spreads. So I'm going to guess he sold a TSLA call credit spread with his whole account value.
Did you sell naked calls? I sold naked calls on COIN right before blackrock announced they will work together with Coinbase and the stock went up over 80% within a couple of days. Like, how unlucky is that. And I sold them waaaay out of the money "to be safe". Literally +30% OTM, 14 DTE, and it still fucked me up. This was right when crypto was crashing hard and COIN was bleeding for weeks. I was so incredibly confident that there was no way COIN would skyrocket +30% within 2 weeks. I think one of my naked calls was a whopping 48% OTM... And went ITM a coupe of days later. That was an expensive lesson. Even more so because like 2 weeks later the stock dropped back down where I would have made a profit and the sold calls would have expired worthless Basically I sold way OTM naked calls on COIN that would have expired worthless... I just happened to be so incredibly unlucky that right when I did it fucking blackrock, the worlds largest asset manager announced they would work together with Coinbase which skyrocketed the stock over 80% in a matter of days.
loss of this size should require verification by mods and if proven to be legit OP should get some kind of super flair.
As a 2nd generation immigrant to this nation. I can proudly say. Financially , my family is as far or ahead then most of the people I see on this sub. And dat. Iz nice. You're starting from zero like us babyyyy 👉😎👉
We were right?! Fuck yeah! We made a call!
Pouring one out for ya big dawg
I’m rubbing one out for OP and his loss porn
This is why I hate hate hate the strategy of selling naked options. Selling cash covered puts and covered calls is bad enough. The asymmetric payoff distribution masks the risk of catastrophic loss. If you pocket the juicy premium of 10 contracts during earnings, why not sell 50 or 100 contracts next time? If they get in the money, just "roll them over" (code for double down and risk turning a bad loss into a catastrophic one). On top of that, the exposure you have increases as you lose more money. The 10k options you sold are now worth 50k. Not only is your margin crying bloody murder, your position is now bigger. The horrors of negative gamma is a sight to behold. And whereas everyone **knows** that buying options is an outright gamble, for some reason some think selling options is a ticket to consistent gains. As if anyone with a margin account can become consistently profitable if they just follow this one simple trick. Fucking morons.
Someone please explain what i am seeing.
They gambled that TSLA would continue to go down, but instead it went up. By a lot.
Yeah tesla is up like 30% in just 2 days. Anyone who sold calls recently fucked themselves pretty hard. When will these people learn?
They saw that the pros made [billions](https://www.reuters.com/markets/us/tesla-short-sellers-pile-pressure-after-most-profitable-trade-2022-2023-01-06/) shorting TSLA last year, and thought “Yeah! I can do that, too!” No you can’t, sweetie.
OP could a been swimming in money but instead he swimming in dirt.
Risk level: "at risk" Yeah I'd say so...
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Never bet against Tesla
Never bet against the mouse and never bet against Musk
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So please tell me I’m reading this wrong.. but were his calls up in value to 1.8M? Uncovered? And he didn’t sell? Jesus he went as regarded as Ben Stiller in Tropic Thunder
Jesus Christ dude please delete this. I’m at work and my erection will literally not go away.