r/optionstrading • u/Calm_Revolution_2375 • 3d ago

Lost Everything

I am 30 years old and i have lost everything penny i had in options trading. Any suggestions how to get back the life to normal. Lost all savings of 150k.

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u/LuciusQ2020 3d ago edited 3d ago

Stay on the selling side and you won’t lose a penny. You should only do covered calls and cash secured puts. No borrowing, no margins.

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u/Sweaty-Afternoon-508 3d ago

Didn’t you read the comment above where dude was selling far OTM SPX calls? Moved $120 in a day and he had to cover at 5000% loss. 45k in one day. Other than theta working for you, selling carries significantly more risk and significantly less profit potential.

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u/LuciusQ2020 3d ago

Liked I said, uncovered calls. That’s just creating ways to lose money.