One millennial options trader was killing it, then Facebook cost him $180,000
- Thread starter ajacobson
- Start date
AMZN, FB options and crypto bets.
So basically he bought calls on two of the most overinflated stocks in the market, and went long the biggest bubble in the history of man (crypto).
Wow, what a genius.
Stories like this were so frequent in 1999 they stopped writing about them.
Here’s the ending you never read about-
Millennial “trading guru” moves into parents basement at 25 years old after losing everything. He says “I took a shot and missed. They way I look at it, I didn’t lose $500,000. I really only lost my initial investment of X. I would do it all the same again.”
Just like every other gambler, his streak will come to a crashing end.
He is still up 160K YTD (70%). So you lose 180K and still be that much ahead, not bad...
I'm not the resident options expert, but I don't think you can lose this much by just buying calls.
You can absolutely lose everything buying options. The good thing with options is you will never lose more than you have if you're just buying.
Sure, but did he go into this by just buying calls and losing all the premium? Given how much money he has been making, I imagine the trades are much more complex than this.