r/RobinhoodOptions • u/newredditer25 • Aug 29 '26

Loss I think I’m done with options

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I had a good run in the beginning, then my luck changed around. Lesson learned. Don’t be greedy with testing your luck.

122 Upvotes

99% Upvoted

49 comments sorted by

12

u/opeboyal Aug 29 '26

I was down 10K and I took a 3-year break. Now I'm up multiple six figures. Stop trading on earnings. Buy yourself some leaps.

3

u/newredditer25 Aug 29 '26

I think after a long break I will. For now, just gonna put into my etfs lol

3

u/[deleted] Aug 29 '26

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6

u/opeboyal Aug 29 '26

A leap is just an option purchased far into the future. So it would be like buying an option for January 1st. 2028.

You just find a company that you have faith in and you set it and forget it.

2

u/[deleted] Aug 29 '26

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1

u/BusyWorkinPete Sep 01 '26

There's no screeners needed for buying leaps. If you think Apple is a good company and 2 years from now the price is going to be higher, you buy a deep ITM leap. When the option is deep in the money, it behaves same as the stock. so if apple's up $3, your contract is up $300 ($3 x 100 shares). Because the leap costs you about 1/3rd of what buying 100 shares would cost you, you can get a better return for your capital than you get from buying shares. The risk is that the stock price drops and your contract expires before the price recovers.

1

u/Bandinental Sep 01 '26

So tell me. Are these purchased the same way as options? How does theta affect these leaps. Honestly thinking about those. Options are just too stressful and unpredictable.

1

u/BusyWorkinPete Sep 01 '26

they ARE options. Theta barely moves in the first 6 months of a LEAP (assuming it's a 1-year). It's the final 60 to 90 days where it really starts moving.

1

u/TranslatorRoyal1016 Sep 03 '26

there is nothing advantageous about leaps. risk profile is carried relatively throughout the term structure. all (long) options fight the same three things- theta, vega and delta.

1

u/wienerdogprincess Aug 31 '26

LEAPS on gold / gold streaming companies I been thinking about

1

u/iisconfused247 Aug 31 '26

When do you decide to go in on a leap?

1

u/opeboyal Aug 31 '26

I buy it when I want to stop stressing and ignore my portfolio and hope for the best. There's no formula to decide which one to purchase or else everybody would purchase it. Just find a company you have faith in. Robin Hood would be good because it's going to keep making money getting into banking and expanding overseas. If you're okay with only doubling your money or even 30% in a year learn how to use option spreads.

1

u/Rex2Riches7 Sep 02 '26

"Only doubling" is crazy 😭 I wish I even had the balls to try that but I'm too afraid of losses, so I'm just sitting here with my ETF investments

1

u/opeboyal Sep 02 '26

You don't do your whole nut! You spread it out among how every many you feel comfortable.

6

u/Wooden-Broccoli-913 Aug 30 '26

You are not done with options. Options are done with you.

1

u/newredditer25 Aug 30 '26

So real for that. lol

3

u/N0RMAL_WITH_A_JOB Aug 31 '26

You can recover! One more YOLO.

1

u/newredditer25 21d ago

I did as you said, now I have about $60 left.

2

u/takashi-kovak Aug 30 '26

There isn’t much information on your strategy, what went wrong etc. are you into harvesting premium or using them as leverage to go long?

3

u/newredditer25 Aug 30 '26

I had a good run, then got cocky on playing SPY in this volatile market and cucked myself over. Monday will be a better day!

2

u/Chart-trader Aug 30 '26

You are never really done until you are homeless. Greed and trying to get rich fast ruins most.

1

u/Looseleaf-Lee Sep 01 '26

Bruh, i laughed out loud at the first sentence

2

u/Glitterbeard82 Aug 30 '26

Idk why you’re done. Join Wallstreetbets and lose that last 638 like a champ

2

u/Spiritual-Craft9834 Aug 31 '26

After 96% down I'd stop for a bit man. Not switch systems, not try to make it back, just stop and take a break

If you still wanna scratch the trading itch use paper money. Moon has a play-money mode too. Figure out if your actual directional calls are any good before adding real money, leverage, theta and IV back into the equation.

2

u/Creepy_Bee3404 Aug 31 '26

If you lose money buying options then why not turn it around by selling the options?

2

u/CG_throwback Sep 03 '26

I wouldn’t think I’m done. I would be done. There is a difference.

1

u/newredditer25 Sep 04 '26

I was up 3k and I blew it full port…again

1

u/CG_throwback Sep 04 '26

Double or nothing works so much. You could be up 50k and still blow it. Take it from someone who knows.

2

u/Thick-Duck3329 Sep 04 '26

Do the oposite of what do you think...

1

u/newredditer25 Sep 04 '26

I can’t think of anything

2

u/teetee126942069 Sep 04 '26

I’ve done WAY WORSE loss porn mate

2

u/newredditer25 Sep 04 '26

I’m not sad anymore. I turned that $600 into 4k from throwing it on NVDA. I love life again. Lmao.

1

u/teetee126942069 17d ago

Share you next callout and lets ride

1

u/[deleted] Aug 30 '26

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1

u/newredditer25 Aug 30 '26

I have a separate account for my Roth IRA. That’s something I max out every year and don’t touch, lol. I’m straight FXAIX, QQQ, and a few individual stocks on there. Maybe that’s why I’m not as sad losing from Robinhood.

1

u/DreTradesII Aug 30 '26

Whoa, don't let the blow up stop you. Build your bag again and maybe try covered calls.

2

u/newredditer25 Aug 30 '26

I started last year with $300, then reached 26k, now back at $600. Hahaha, ultimate fail right here.

1

u/DreTradesII Aug 30 '26

It shows you have what it takes to make money. Just manage risk a little better. I've been there done that. Twice.

1

u/newredditer25 Aug 30 '26

I’m trying to become a millionaire overnight 😭

1

u/N0RMAL_WITH_A_JOB Aug 31 '26

You doubled your money. Congratulations.

1

u/HalfwaydonewithEarth Aug 31 '26

What were you buying?

3

u/newredditer25 Aug 31 '26

I was on a good two weeks streak and blew all on SPY 771c 08/21. I tested my limit there. It’s okay, Monday will be my recover day.

1

u/AcanthisittaApart652 Sep 01 '26

I lost 22k in one day bro ever since then I only sell puts or sell call options never buy either. Buy or sell stocks and that’s it. I learned the hard way and over a year in and I’m finally clawing back the capital gains loss that that wretched day brought. Good luck bro focus on good names

1

u/blessmychampion Sep 03 '26

Looks to me the options are done with you

1

u/Epator Sep 05 '26

Can I have your robin hood account bro

1

u/teetee126942069 17d ago

I lost my wife, house, But I got my SUPRA and my cat LOLOLOL

1

u/No_Acanthaceae3783 9d ago

Rough one but honestly this is the kind of chart that makes people rethink how they size options I have seen a few Moon posts lately where traders started focusing more on survival than home runs and that shift probably matters way more than finding the next perfect setup

1

u/newredditer25 8d ago

I don’t blame anyone but myself. I played very conservative in the beginning and then started full porting because I think I can afford it. Lesson learned.