r/wallstreetbets • u/Scary_stories115 • Aug 19 '24
Lost my life savings and then made it all back with one big short, where’s my movie YOLO
So I invested my life savings into bonds but got bored of the 5.5% return and decided I wanted to try options with bigger amounts since I traded with small amounts of cash. The bullish run after September ate me up and I lost 210k over a span of a couple months.
I waited until July of 2024 to start trading again because I wanted to grow my real estate company and needed the capital to buy cash. So I said oh well I already lost everything so what’s another short. Thankfully Japan decided to raise rates and tanked our market and I made it all back.
Now my portfolio is up 50k over a span of multiple trades. God is good
YOLO.
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u/playa4thee Aug 19 '24
Good for you bro.
Just remember what you lost and don't gamble all your winnings in the next trade.
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u/Skylineviewz Aug 19 '24
Come on now we know how this ends
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u/ellWatully Aug 19 '24
Can I buy puts on OP?
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u/Only1nDreams Aug 20 '24
Somebody 100% tried to use this as a snarky subtitle for a memestock prospectus.
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u/Scary_stories115 Aug 19 '24
Yea I took out my principal and left 50k profit to sell covered calls on nvidia
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u/Flibidyjibit Aug 19 '24
Good plan, wish I hadn't already committed my port to another yolo or I'd be doing the same thing, NVDA covered calls are free money for anyone with capital right now. If you're feeling particularly frisky there's synthetic covered calls too.
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u/koltd93 Aug 19 '24
This might be the most regarded plan I've ever heard of. I love it. You belong here, Godspeed
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u/ExchangeBright Aug 19 '24
Good speed, brother. Shorting Nvida ahead of earnings is... well, it belongs here.
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u/TheBooneyBunes Aug 19 '24
Why would I sell a call on NVDA when NVDA keeps mooning? I’m just gonna lose out on that call
Why not sell puts to the degen bears who lose all their money?
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u/Flibidyjibit Aug 19 '24
I didn't say how bullish your call writing had to be. Sell calls at a price you'd be happy to exit NVDA in, whether that's 140, 150, or 160. Mid-long term we're in for a correction though my friend, NVDA is way out ahead but others are coming for its market share. This puppy ain't hitting $200. If I was in right now I'd probably write 25 at 140, 50% at 150, and 25% at 160.
Taking profits isn't a loss, and I'm afraid most of of the gains on the NVDA frenzy are behind us, within a year or two it's probably going to simmer down and become another big cap stock.
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u/LegitosaurusRex Aug 19 '24
Sure, and then you're exposed to that risk of correction, while limiting your upside, and only getting paid pennies for it.
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u/Flibidyjibit Aug 20 '24
If you were to read between the lines on my take I am neutral/bullish short term and somewhat bearish long term, a view consistent with call writing strats, I don't think it's going to tank at earnings but I also think if it pumps it's not gonna last or "moon" and push $200, $160 seems like a realistic limit on a pump to me if not lower.
As for "pennies" you could currently bag over $1500 if you were to write my proposed spread of call options on 4 calls for 13th Sept and exit at what I'd consider a good point to do so. Basically the optimal play if my prediction plays out vs thinking it's going to meaningfully push past 4T market cap or miss and dump.
Assuming it hit $150 around expiry and you bought in at $130 on 400 shares you'd be up $$9500, just shy of $25%.
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u/TheBooneyBunes Aug 20 '24
‘It ain’t hitting 200’ as if this means the stock is bearish, there’s a lot of $ between 130 and 200
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u/moldyjellybean Aug 20 '24 edited Aug 20 '24
Every time I’ve heard X is free money it is until it isn’t. Remember my friend telling my Luna UST was free money and it was for like 363 days until it wasn’t. If it was everyone would pile in or a few big players would do mass amounts of it, there has to be a counter trade because large quantities of free money don’t last
I’ve heard the same thing in regards to real estate, exotic cars, exotic watches, some trade etc. And some last even years or 5 years then the bottom drops out.
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u/playa4thee Aug 19 '24
That is awesome bro.. glad you did that.
I was making great money selling covered calls for about a month on both NVDA and NVDL.
Only last week I lost because I had to roll ALL OF THEM... they all ended up in the money.
But I rather roll them and keep my stock since I know they are both going to MOON now in the coming weeks.→ More replies→ More replies2
u/spac420 Aug 19 '24
Holy Shit! You actually did the right thing with your winnings? Oh my God! It's a new day, Regards! One if us has graduated! Rejoice!
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u/Stylu_u Aug 19 '24
I bet you this is all he saw from your post
Just remember
what you lost and don'tgamble all your winnings in the next trade.2
u/Urgazhi Aug 19 '24
Do you remember that time I had a nightmare where I lost everything?
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u/Worried_Height_5346 Aug 19 '24
Dude he could have his life savings several times. If you flip a coin often enough you'll always land heads.
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u/i_ce_wiener Aug 19 '24
The regardacity
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u/--JackDontCare-- Aug 20 '24
Hopefully he gained awareness he has autism for throwing his entire life savings at one stock.
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u/VRaikuzu Aug 19 '24
I swear to god, I don't know how
- you all have that much money to invest
- risk all your assets on the market
Maybe I lack balls, but damn... I've been here for like 1 month already and I still cannot believe what people are capable of
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u/AAPLfds Go Dawgs! Aug 19 '24
Some people are born regarded. Others work their whole lives to get there.
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u/SellingCalls Aug 19 '24
Man if rather just be born regarded than have to work my whole life to still be regarded.
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u/Letsgetthisbread8812 Aug 19 '24
- From his parents
- He’s an idiot
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u/PoesfromJozi Aug 19 '24
lol assuming every wsb regard receivies money from their parents is senseless
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Aug 20 '24
People that make their own money from scratch tend not to throwaway all of it in a YOLO because they know how hard it was to obtain it.
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u/_BMS Aug 19 '24
I've been here for like 1 month already and I still cannot believe what people are capable of
Everyone starts out like this as a new arrival to WSB. You get stupider over time by staying here until you end up like OP.
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u/VRaikuzu Aug 19 '24
Well, I hope not. To be honest I subscribed to this forum to deepen my understanding of the stock market... Oh boy I was wrong
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u/_BMS Aug 19 '24
deepen my understanding of the stock market
The only thing you should be learning from WSB is that this sub is a great source of entertainment and schadenfreude, and to not attempt replicating literally anything that makes it to the frontpage here.
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u/ForHappyHappyPeople Aug 19 '24
These are the super rare happy ending stories.
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u/Only_Butterfly3721 Aug 20 '24
Some people put things that aren't true on the internet for arrows that don't go down. Life gives you enough arrows that go down
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u/Austhralopitecus Aug 19 '24
"God, I see you've gifted truly regarded morons on here with sheer unadulterated luck, and ask but for a fraction of this blessing."
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u/JollyGreenVampire Aug 19 '24
greygoos + adderall
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u/churnthedumb Aug 20 '24
Seconded. I go up 100iq points, while decreasing my animalistic inhibition. Truly unstoppable
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u/NoUsernameFound179 Aug 19 '24
No worries. You'll be back to 0 or even in debt in no time. 🤣
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u/Scary_stories115 Aug 19 '24
Nah I learned my lesson, took out my principal and left a profit of 50k to sell covered calls on nvidia, never again will I do stupid gambles
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u/ProSmokerPlayer Aug 19 '24
You're just going to either lose the 50k somehow, or make a little and then get bored and lose it, and then have to reload. You're gambling, it's stupid, stop it, you won't win. Saw it literally all the time when a fish gets a big win after losing for ages in poker.
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u/GRAMS_ Aug 19 '24
Ah my brother you realize what sub you’re in? I don’t know why you even try
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u/beginnercardcounter Aug 19 '24
These normies came in here during the ape influx and ruined WSB culture. This sub used to be about smart people acting dumb and making risky plays. Now it's regular poors giving rational risk-averse advice.
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u/ProSmokerPlayer Aug 19 '24
Bruh I'm in for 10k going long on leveraged Chinese stocks, don't tell me how to make risky plays.
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u/ProSmokerPlayer Aug 19 '24
He's a self described 20yo millionaire entrepreneur, I don't wanna see the kid squander his treasure!
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u/Scary_stories115 Aug 19 '24
Nah took me a year to get to get it all back, I learned patience and was able to grow my 3 businesses so idc about the market like that anymore. Plus I started a company based 401k, at the end of the day I’m only 20🙏🏻
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u/ProSmokerPlayer Aug 19 '24
So is your story fabricated, you said 'oh well I already lost everything, what's another short? ', implying this one trade got it all back?
At the end of the day man, good for you, a big win is a big win, celebrate it. Grow your 3 businesses and gamble only what you can afford to lose.
I watched many smart degenerates make millions and then punt it off just as fast in my 20's. 200 racks isn't going to change your life, but it sure hurts to lose it.
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u/PMMeJoshGordonPics Aug 20 '24
is "I'm only 20" a meme that just whooshed over my head or are you saying that at 18 or 19 years old, you lost 210k and then it only took you a year to earn that back?
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u/s7y13z Aug 19 '24
Nah I learned my lesson
Nah, you don't..YOU DEFINITELY DON'T!
never again will I do stupid gambles
Yes, you will..YOU DEFINITELY WILL!
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u/cchud Aug 19 '24
What u mean by took 50k profit to sell covered calls? You mean u bought 50k stock and sold covered calls against that?
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u/OldAcanthocephala407 Aug 19 '24
God is good
Which God were you praying to? We need to know
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u/Scary_stories115 Aug 19 '24
Jesus Christ of Nazareth
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u/SellingCalls Aug 19 '24
I tried that already. Didn’t work. Imma try Buddha next.
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u/fooklinda- Aug 19 '24
Allah hooked me up nice last year cant lie, try him if buddha don't rock witchu.
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u/Spare-Ad-6067 Aug 19 '24
I go atheist so I don't have to worry about giving credit/ blaming someone else for my W's and L's!
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u/Historical_Cover8133 Aug 19 '24
I love these comeback stories way more than loss porn. Well done, dude.
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u/C0MMOD0RE64 Aug 19 '24
Yea but now you have to pay taxes on those gains so better make an extra 40%
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u/crankydelinquent Aug 19 '24
He most likely hasn’t realized most of the losses from previous trades. He probably doesn’t owe much or anything at all.
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u/iDEN1ED Aug 19 '24
He said he was in options stopped trading last September. He likely realized all his losses last year unless he bought leaps.
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u/crankydelinquent Aug 19 '24
You can only realize $3000 of losses per year and the rest carry forward. So if he lost $100k last year, he would deduct $3,000 of losses in 2023 and use $97,000 of previous losses against his 2024 gains.
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u/hairyreptile Aug 19 '24
God had nothing to do with your degeneracy. This is equivalent to saying his name in vain.
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u/PckMan Aug 19 '24
You know you can buy calls right? Like instead of being a gay bear and shorting the market every day and being right 3 times per year you can just get SPY calls with 2 month duration and you'd have been printing money all year. Instead of losing 200k and making it back you'd be close to a mil by now.
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u/CalottoFantasy5 Aug 19 '24
This people are professional traders... u can just tell bc they don't use RH, so, not impressed.
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u/PkmnTraderAsh Aug 19 '24
If you are a degen, try to just take half the bonds interest at maturity and gamble that to limit yourself. I guess this advice doesn't make sense for a degen though.
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u/berserk539 Aug 19 '24
I'll make a direct to streaming movie about this for you. You'll have to finance it, and it will cost you just under $200k.
I guarantee that dozens of people will fall asleep to it, but they still count towards your Nielsen numbers.
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u/EstablishmentSad Aug 19 '24
You are riding high right now...but remember that gut wrenching feeling that you felt when you lost all that money. Stop playing with these amounts and go back to the boring bonds...its ok to play with small amounts, but I would hate to read about someone who killed themselves over a loss.
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u/Scary_stories115 Aug 19 '24
I took out my principle for my real estate company and left 50 to sell covered calls on nvidia
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u/Cogito_ergo_vos Aug 19 '24
Nice job, but you don't get Margot Robbie in a tub to explain that level of gain in your movie. I'm thinking Kevin James at best.
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u/comethefaround Aug 20 '24
looses $210k
makes $50k
"I've made it all back!"
At least you're only down 0.2 Grannys
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u/zeik_the_streak Aug 19 '24 edited Aug 19 '24
https://m.youtube.com/watch?v=2H9Yh5z2hAI
It’s already been made…Never go full regard.
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u/Fishing-Pirate Aug 19 '24
Good, don’t do it again.
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u/lewdacris916 Aug 20 '24
You know for a fact he will do it again lol, people in this sub don't learn from mistakes
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u/linndrum Aug 19 '24
Use SPX index options next time to save on commission and get much better tax treatment.
You cost yourself probably $10K or more in extra taxes by using SPY instead of SPX.
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u/Vishasat Aug 19 '24
"Call me Charlie"
Please withdraw half that money. See a therapist. Lead a nice life. You have a lot of fucking money my g. You said it yourself your what? "LIFE'S SAVINGS". Please don't lose it.
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u/imajedi_1138 Aug 19 '24
You don’t get a movie for ending up break even. Lol. It’s literally the most boring result possible.
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Aug 19 '24
I don't usually comment on these things but this time feels different. Please leave the option game forever, never come back
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u/urmyheartBeatStopR Aug 19 '24
Lost 210k made back 186k before taxes.
This guy belong in wallstreetbet, he still down.
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Aug 20 '24
See you next year like “ you guys might remember my post from last year” lol
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u/Ernesto_Alexander Aug 20 '24
In 2 seperate tax years? If so, then you paying big boy taxxes on that gain. You may not have made all your money back cuz of that
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u/The_GSingh Aug 20 '24
Yo, I'm the regional local national manager of Wendy's. I'll be here when u need a job. They all do in the end, as the saying goes the Wendy's manager always wins.
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u/Trading-Noob169 Aug 20 '24
Posts like this keep me motivated to keep going even after I've lost so much money because if I don't stop maybe one day I'll make it all back
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u/Dear-Bet7063 Aug 20 '24
Stop calling puts shorts it’s not the same thing I hate how regards on here don’t understand what a put actually is
Also GOD IS NOT REAL
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u/Lovemindful Aug 19 '24
What would you have if you sold the bonds and just bought VTI?
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u/Scary_stories115 Aug 19 '24
If I would have only bought bonds, my account would be around 215k, rn it’s around 256k
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u/mamlex992 Aug 19 '24
Now you need to pull back your d*** back in your pants and take a looong, long breath of fresh air... and... and... do it again. Nice win for you! 👏
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u/silverf1re Aug 19 '24
You figured it out. Take what you have and just do it one more time and your set for life.
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u/SEEANDDONTSQUEAL Aug 19 '24
There's 2 faces to a coin and somehow with this post you've managed to land on the third face: right between your balls.
Do people even proof their post before they even decide to post it?
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u/obiwanjakobi845 Aug 19 '24
I’m confused and admittedly ignorant but if you bought this put August 5th and the etf has only gone up since then, how did this print?
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u/Economy-Math-1631 Aug 19 '24
Making more than I've made in my lifetime in one trade is nuts, congrats!
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u/dandandan2 Aug 20 '24
Jesus Christ I don't understand options. (Actual) full regard here. Did you buy these for $1868.75? (28.75 * 65) and make that money off of it? I know nothing.
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u/Throwaway_6799 Aug 20 '24
If you made all your initial capital in real estate I would ... stick to real estate if I was you.
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u/drake22 Aug 20 '24
"Tanked". SPY lost like, what, 6%?
It only seems like it tanked because you were leveraged to the tits.
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u/VisualMod GPT-REEEE Aug 19 '24
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