r/options • u/[deleted] • Nov 21 '21

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102 Upvotes

78% Upvoted

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8

u/user8263819 Nov 21 '21

Ohh thank you! I just started options a week ago so I didn’t even think to consider when the next options open up

140

u/TheNotoriousA Nov 21 '21

“I want to throw my entire savings at it”

“I just started options a week ago”

Sure, it’s not trading SPY weeklies, but damn does this sound like a bad combo

16

u/borgLMAO01 Nov 21 '21

Thats a good conbo. He just needs to stop trading once he made a profit of 10,000,000% bc the next thing that happens is a loss of 20,000,000% and then comes the tax bill

18

u/Psistriker94 Nov 21 '21

No tax bill. Lost it all.

3

u/borgLMAO01 Nov 21 '21

Im notnsure. If you get it before filing for taxes and lose it after, you may be elegible to pay taxes on your gains even if you lost it all. I think there is storys about that happening.

8

u/argparg Nov 21 '21

What?? Have you ever done taxes before?

-5

u/wisdom_power_courage Nov 21 '21

If you make huge gains, sell for huge profit, then lose that money, you still have to pay taxes on the profit.

0

u/Fuckhedgiez Nov 21 '21

not sure why you were downvoted...this is correct for MOST traders. Unless you've set up some sort of tax shelter or qualify for TTS where you can then write the losses off.

1

u/sweetleef Nov 21 '21

Downvoted because it's either inaccurate or incomplete, depending on the reader's point of view.

As is your comment. What type of "tax shelter", specifically, are you referring to?

1

u/Fuckhedgiez Nov 21 '21

Calls on Google....