Rookie Trader Racked Up $700K In Debt

[ironchef]

https://www.marketwatch.com/story/f...rader-who-racked-up-700000-in-debt-2020-06-14

One of the young Robinhood 20 something option traders.

 

[southall]

You have to ask why did he not just declare bankruptcy. I doubt he had any assets like a house at that age?

 

[analytics]

it is not possible to lose that much with a tiny account. Else I would sign up for it for sure, if i lose big, I can just disappear and never return.

 

[southall]

it is not possible to lose that much with a tiny account. Else I would sign up for it for sure, if i lose big, I can just disappear and never return.

From about six months ago:

https://www.cnbc.com/2019/11/05/some-robinhood-users-were-able-to-trade-with-unlimited-borrowed-money.html

 

[Nobert]

it is not possible to lose that much with a tiny account. Else I would sign up for it for sure, if i lose big, I can just disappear and never return.

Not the first time that paranormal activity happens at RH, like that unlimited levarage prior.

Kids - don't do drugs and don't touch options.

 

[wrbtrader]

Not the first time that paranormal activity happens at RH, like that unlimited levarage prior.

Kids - don't do drugs and don't touch options.

What about a glass of wine or white cognac ?



wrbtrader

 

[Nobert]

What about a glass of wine or white cognac ?



wrbtrader

Helps to get naked, but i hope, that it's not the naked puts.

 

[VicBee]

It's not just the college kids, but also the retirees (gambling), I mean trading, their ss checks.

 

[southall]

Helps to get naked, but i hope, that it's not the naked puts.

Someone posted he was selling naked calls.

If true then he must of have topped himself just before Thursday's big selloff.

Seems like Nasdaq 10,000 finished him off. RIP

 

[neverpanic]

Kids - don't do drugs and don't touch options.

They fail to understand what "potentially unlimited losses" means.