I lost 100% of my sons Investment shorting GE, Apology video soon.

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prc117f

I want to Apologize for my total loss of investment, I lost everything I put going long options hoping to collect some fat premiums.

Damn GE held like a Gibraltar rock during this crash. I lost 100% of the position (25 contracts for 135 dollars)

Now worthless unless I get lucky Friday. Could I get lucky and GE crashes under 6.5?

How do I explain to my 12 year old that his lawn work money disappeared?
 

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prc117f said:
How do I explain to my 12 year old that his lawn work money disappeared?
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Easy.

Just explain that you "screwed up".

He'll not understand right now, but will later... and do plenty of the same himself when he gets older.
 
prc117f said:
I want to Apologize for my total loss of investment, I lost everything I put going long options hoping to collect some fat premiums.

Damn GE held like a Gibraltar rock during this crash. I lost 100% of the position (25 contracts for 135 dollars)

Now worthless unless I get lucky Friday. Could I get lucky and GE crashes under 6.5?

How do I explain to my 12 year old that his lawn work money disappeared?
More...

His funds are yours to play? Is this a joke? You have to replace the money dude. He is way too young to understand the risks involved, as a parent you have to protect them from others and yourself.
 
prc117f said:
I want to Apologize for my total loss of investment, I lost everything I put going long options hoping to collect some fat premiums.

Damn GE held like a Gibraltar rock during this crash. I lost 100% of the position (25 contracts for 135 dollars)

Now worthless unless I get lucky Friday. Could I get lucky and GE crashes under 6.5?

How do I explain to my 12 year old that his lawn work money disappeared?
More...

Well if you went long, you wouldn't have collected any premiums. So not only you didn't collect any premiums, you lost all of his money!! Now at least take off your watch!!! :)
 
Tongue in check - if he's 12 it was probably an UGMA - you should pay him back. What firm allows options in an UGMA. I smell a very fake story.
 
prc117f said:
I want to Apologize for my total loss of investment, I lost everything I put going long options hoping to collect some fat premiums.

Damn GE held like a Gibraltar rock during this crash. I lost 100% of the position (25 contracts for 135 dollars)

Now worthless unless I get lucky Friday. Could I get lucky and GE crashes under 6.5?

How do I explain to my 12 year old that his lawn work money disappeared?
More...
You lost 135$!!!!!!!

And you are complaining!!!

I much is 135$ represent to you (not to your son)?

Your sons (more than 1!!) have nothing to do with your error. Just admit that you screwed up and refund your sons and move on...
 
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