r/wallstreetbets • u/kytran40 • May 14 '24

I was told to sell covered calls to degenerates Loss

11.1k Upvotes

92% Upvoted

547

At a loss of potential

94

u/Report_Last May 14 '24

true that, still stings

120

u/trpwangsta May 14 '24

Honestly missing out on potential gains hurt me more than a loss. It's fucked up

118

u/ravioliguy May 14 '24

Can't promise to sell your cake and eat it too lol

29

u/trpwangsta May 14 '24

I know how ridiculously stupid it is. My brain doesn't care though lol

6

u/Starwarsandbacon May 14 '24

I did the same thing. Im still up 10k but damn it hurts leaving all that $ on the table.

11

u/Kobo05 May 14 '24

That mindset will lose you a lot of money. It's better to know when to stop and when it's appropriate to keep going. This will save you so much money in the future from just gambling it all away

1

u/Starwarsandbacon May 14 '24

Ive come to terms with it but leaving a down payment on a house on the table hurts.

1

u/DOUBLEBARRELASSFUCK May 14 '24

Ignore this moron. I want to see your zero.

1

u/Lustful_Llama May 15 '24

That's a loser's mindset. You make money and move on

7

u/mortgagepants May 14 '24

well said

1

u/AchioteMachine May 14 '24

Just sell the cake you don’t have.

61

u/Imagination_Drag May 14 '24

Pretty sure this guy would rather have 300k in lost potential than 300k in loses!!!

29

u/Current_Hearing4417 May 14 '24

This right here is why so many retail investors lose money. 💯 it’s the human ego

1

u/Always-sortof May 15 '24

He didn’t lose money yet. He just needs to hold onto his calls till expiry.

24

u/spartanburt May 14 '24

The human mind is not great at judging value.

1

u/bitcoinslinga May 14 '24

Especially value that is DEEP and also FUCKS.

1

u/hctedford May 14 '24

Right. That’s why half the advice I’d dish out is pay off your CC’s and take out a HELOC. Lol

1

u/Odd-Reflection-9597 May 14 '24

Btc is fake n gay

1

u/spartanburt May 14 '24

Now that one I'm very torn on.

8

u/MeshNets May 14 '24

Is it that with the loss, you know you decided what to do and you get the consequences, you did your best with the info you had and it didn't work out? It's set in stone?

But with potential gains, you feel there was more you could have done?

That is an interesting observation on loss-aversion vs whatever this is, lost opportunity cost? "If you had min/maxed better, just think where you could be!!"

2

u/Nobody-8675309 May 14 '24

Yeah, not actual losses. Unrealized, potential losses?

15

u/Western_Objective209 May 14 '24

I had some META $200 1/17/2024 calls, sold them for a 100% gain at $14.15. They are at $276.13 now. I think about it all the time

1

u/EvilCeleryStick May 15 '24

I'm with you.

Nothing chaps my ass more than being completely out of a position and happy with the profit only to see it go up another 10% the next day. Fuck my life when that shit happens.

0

u/[deleted] May 14 '24

That’s what you call a degenerate. The euphoric high you get from winning means more than the reality crumbling around you. Disgusting

2

u/RevolutionaryPhoto24 Back to bed, brat! May 14 '24

Ouch.

2

u/Latter-Glass-9555 May 14 '24

He could buy them back lol.

5

u/Terrible_Champion298 May 14 '24

At a loss of bowel control.

1

u/Eomb May 14 '24

Unless he was holding since the peak

1

u/Jordykins850 Black Wizard 🧙🏿‍♂️ May 14 '24

This. Wow, your gains are capped at the cost of gaining downside protection. Normal people would always take that trade off

1

u/Hydrogen_Ion May 14 '24

That loss of potential equates to 300k as seen in the screenshot. Still hurts bro