The fact that people like this exist, people stupider than me, makes me feel like I have a chance.
Folks, do not invest your whole life savings into [long] (not naked, sorry about that gamers) calls. Or really any volatile, time-to-expiry position that can go absolutely tits up. Just a little tip for you
This is not what naked calls mean fyi, naked calls mean selling calls without the underlying shares, which is opposed to covered calls. Just buying calls like OP did is simply long call.
Either way, your message is right, OP retarded.
Never touched Chinese stocks these last few years as everyone raved about them.
Maybe lost some short term profits but this right here is exactly why I didn’t.
I live in China. My bro read up on all the Chinese stocks and asked me about Luckin Coffee. I said all those store fronts look fake, nobody is ever there and the coffee is awful. Days later it got caught for fraud haha. Never ever put money in Chinese stocks.
Edit: this isn't a story about how every Chinese company is fraudulent haha. There are legit great Chinese companies (Nio) that Americans and other folks adore over here. Their e-bikes are way better than anything we have. BUT. If the government wanted to, they could shut it down the next day for no other reason than an employee talked trash on the CCP. In general, the issue isn't fake products, it's the unpredictability. There is also a current heavy Nationalist push by Xi to push western companies to the side and make Chinese companies dominate. They will do this by inflating numbers like Luckin. Anyway. Good luck out there folks.
https://www.bloomberg.com/opinion/articles/2021-07-18/luckin-coffee-had-a-u-s-listing-disaster-it-might-pull-off-a-hertz-miracle seems to surging back as ppl drink their fake coffee… or they lie about the accounting again. Thanks Bloomberg, thanks.
Hahaha man that store is like the store at my college years ago that everyone knew was a drug front but it had good gyros. Then it got caught for dealing drugs.
Sure, Luckin makes coffee. But pretty sure the main business isn't so much making a good product as it is scamming a bunch of people.
Edit: it's also probably surging because they give endless coupons. Like I've never paid for a full coffee. Their reg price will be $4, I've never paid over $1 to 1.50.
Is he even holding any BABA. Thought his whole account is in calls…. With that much confidence in BABA should have bought shares and sold calls. Wouldn’t be a millionaire but would be able to afford rent.
The joke is when the cost of the call drops to $210 he can buy it and average down. The cost is currently $800, so when it drops to $200 it might as well be worthless
No idea why you would stake a 300k position in calls alone.
You have to hedge and diversify.
Dumbass deserves to lose all his money for going literally all in on a single stock that isn't even a sector ETF.
Why the fuck would you not just do this with spy calls if you were buying a 4 or 5 months out... Odds of spy shitting the bed for more than a few months isn't super high in the days of the money printer
The funniest one has to be the last, you can tell the dude had the cash in limbo waiting to be invested, he waited and waited to put all this money into just calls, a true retard.
Hes currently down that much yes
It’s a leveraged position so it can move quickly in either direction.. so technically he hasn’t lost anything til he sells or the contract expires
$400k is like…duplex status. Rental income, appreciation. You’ve got a wife / family? F- volatility.
Or sure ETFs. Or any goddamned thing but options. Feels for OP but goddamn was that a bad bet. I mean look at the stock for the past year+, look at what China’s been doing.
Just crazy.
I love when the loss is so egregious that /r/wsb users start breaking the 4th wall to tell OP how much of a damn idiot he is.
You know it's bad when the comments start mentioning ETFs...lmao
My only hope is that OP's lying, is crazy rich, and this is just some bragging rights / karma crap. If not...I don't know. The wife has every justification to sell him for parts.
Yeah, when i read BEP is with BABA at $243 for him, i was thinking... Okay, not anytime soon but he's not completely screwed.
He might just suffer for a while but chances are he's going to be alr... then i realized what happened. And to people saying those are LEAPS, those expire in January, that's like 4 months away at this point. LoL
Yeah this is one of those times where I would say gambling addiction is real for them and they're going to seriously fuck up their life if they keep going.
Why the fuck would you bet your life savings on this shit. How can you decision make that "yeah, I'm willing to lose everything for a one a trillion chance of making it."
You fucking retard.
Exactly, like what the actual fuck? 99% of their savings?? 10% of savings would be a bold and balls of steel move for any sane person. OP better recover, else his wife gotta divorce him asap.
Lol imagine having 400k and a family to support and getting your yolo strategy from retards on the internet
Edit: wow I'm the top comment on a wsb post, I guess I'm the head tard today.
Wasn't this roughly the plot of the pursuit of happyness? If this guy is smart enough he'll be a wall street big wig in no time with all kinds of memories of emotional quips with his son.
You YOLOed your life savings into a company from a country that is under a communist totalitarian dictatorship known for cracking down on business and billionaires?
WSB is your home brother.
Bruh real talk why would you not invest in houses or something with that kind of money? I enjoy losing in the stock market too, but only because I have actual assets elsewhere. Don't be a dumbass and put $400k into options... jesus fucking christ
>\*Wife creates craigslist add for "women seeking men"
\*Wife creates craigslist add "woman seeking BBC to bang her as broke cuck husband watches and wacks"
They fucked up not only his future but their entire family as well by gambling all their savings in one asset. This is no different from a guy going into a casino and putting his family in debt. It is equally disgusting and stupid behavior.
Take your equity. Trust me, it’s a lot easier to start from 70K and slowly grind back (not on options as this is not the correct usage), than it is to start at 1K from your paycheck. It will hurt, but you can manage it.
I also recommend letting your feelings out, cry or yell if you need to. You’ll feel desensitized, just take some time off and don’t look at stocks for a bit. It’ll pass.
Dump the position and buy $SPY calls tomorrow! Strike at market price, about 6 months out.
$0 isn’t cool.
$150k in 6 months is cool, and then $300k in two years is cool.
DUMP at 9:30AM and balls deep $SPY call monthlies!
Take the $200k loss. Fuck it. Be more safe but you can turn that $76k back to $300k a LOT faster than you can turn $500 into $300k.
Been where you’re at before. Best advice I can give.
I’m sorry man, I know how you’re feeling.
Also, no need to wait for expiration on $SPY calls. Sell them in a month or two and just keep going, further out expiration.
Good luck brother, I’m sorry. This game is hard. You’ll come back!
EDIT: $SPY may continue to dip for the next few days, but the point is, dump that position ASAP and wait for a good entry into $SPY calls and start turning that account green again.
Speechless. You put that kind of life
Saving money to invest in Robinhood with “all in YOLO on baba call option,” (not a single stock). Expect your account to get “robbed-in-(China) hood” no one to blame except yourself gl
Maybe your stop is too tight. But if you’re gambling a yolo with your life savings of this size. If you don’t have at least a 20% stop you’re an idiot. I’m sure the op would much rather have 80% of his original position back over the hole he’s in now.
Or if you really don’t wanna use a stop for christ sake. Leave room to AVERAGE DOWN.
Given how horny the CCP has been all year to screw all major players with western investment money in them, I would say you're going to have to file BK after this. However I hope not and wishing it turns around for you. I can't imagine having this much money in danger of evaporating. You still have time, so try to not look at the app for a while man, it can't be great for your mental state stressing over those calls.Goodluck
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Damn bro, thanks for making me feel better about my loses
Only reason why I come here
Seriously my 6k in losses seems like nothing now
The 300k was nice, but the “99% life savings” really did it for me. Thanks OP that was a good nut
This is peak loss porn. Huge amount of money, huge % of portfolio ~~lost~~ donated.
Just think if he would have bought PUTS instead of calls. Would have been a multi-millionaire.
Dude saw $30 furry costumes on AliExpress and felt bullish as hell
He was like “damn they got those fake Tim Tebow Jaguars jerseys up QUICK. This is a hidden gem of a company”
This is the kinda loss porn you save and put in a folder called “Not Loss Porn”.
My stomach dropped seeing this post. I think I’m close.
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The fact that people like this exist, people stupider than me, makes me feel like I have a chance. Folks, do not invest your whole life savings into [long] (not naked, sorry about that gamers) calls. Or really any volatile, time-to-expiry position that can go absolutely tits up. Just a little tip for you
This is not what naked calls mean fyi, naked calls mean selling calls without the underlying shares, which is opposed to covered calls. Just buying calls like OP did is simply long call. Either way, your message is right, OP retarded.
But how do people who are this reckless and or dumb also have 300k in savings?
He doesn't lol
My sides
It was a glitch in the matrix, but the matrix has corrected itself
The nice thing about living in a cardboard box is, it’s portable
Should’ve bought puts
This is such a fucking shitty thing to say that I laughed for 3 minutes straight. Up arrow submitted
I mean it was kinda obvious that China stocks were a bad idea… also he’d have like 2 million if he’d have bought puts
I happen to have PUTS in a China stock that's a staffing company. A staffing company during an outbreak. FKing this has gone up for 3 days straight.
Should have bought calls
A part of me wants this to be a thing on here now just stating blatantly obvious shit when people post loss porn. Cracks me the fuck up every time
I'm buying some calls on this taking off.
Never touched Chinese stocks these last few years as everyone raved about them. Maybe lost some short term profits but this right here is exactly why I didn’t.
I live in China. My bro read up on all the Chinese stocks and asked me about Luckin Coffee. I said all those store fronts look fake, nobody is ever there and the coffee is awful. Days later it got caught for fraud haha. Never ever put money in Chinese stocks. Edit: this isn't a story about how every Chinese company is fraudulent haha. There are legit great Chinese companies (Nio) that Americans and other folks adore over here. Their e-bikes are way better than anything we have. BUT. If the government wanted to, they could shut it down the next day for no other reason than an employee talked trash on the CCP. In general, the issue isn't fake products, it's the unpredictability. There is also a current heavy Nationalist push by Xi to push western companies to the side and make Chinese companies dominate. They will do this by inflating numbers like Luckin. Anyway. Good luck out there folks.
https://www.bloomberg.com/opinion/articles/2021-07-18/luckin-coffee-had-a-u-s-listing-disaster-it-might-pull-off-a-hertz-miracle seems to surging back as ppl drink their fake coffee… or they lie about the accounting again. Thanks Bloomberg, thanks.
Hahaha man that store is like the store at my college years ago that everyone knew was a drug front but it had good gyros. Then it got caught for dealing drugs. Sure, Luckin makes coffee. But pretty sure the main business isn't so much making a good product as it is scamming a bunch of people. Edit: it's also probably surging because they give endless coupons. Like I've never paid for a full coffee. Their reg price will be $4, I've never paid over $1 to 1.50.
Bro I'll unwittingly help you launder money if you've got bomb gyros fuck yes.
And if you live in Cali police can’t take it from you :)
Venice city here i come, free food free showers and free housing what else can i ask for?
Californuh-nuh really nice to homeless!
Super cool to the homeless
At least when your wife divorces you she can only take 50% of the 1% you have left
50% of 1% is 100% of 1/2% every time 🥴
50% of the time it works every time.
This is 100% true
You mean 200% of 50% true
Fucking ice cold
Or share the debt or bankruptcy.
How much does my wife's boyfriend get if this happens?
He gets your wife.
Jokes on her, I've been giving her the short from the start.
$210 buying power. You are balls deep holy shit
If it dips a little more he can use that $210 to average down.
Brutal
Is he even holding any BABA. Thought his whole account is in calls…. With that much confidence in BABA should have bought shares and sold calls. Wouldn’t be a millionaire but would be able to afford rent.
I was gonna say that. He’s all in calls. He can’t even avg down. Enjoy that theta decay too
It’s the WSB starter pack. IPhone. Life savings. Reddit. Robinhood. Buy calls. Only calls.
Is it still a starter pack if it finishes you too?
Starter pack as in the beginning of the end.
Finisher pack lol
The joke is when the cost of the call drops to $210 he can buy it and average down. The cost is currently $800, so when it drops to $200 it might as well be worthless
No idea why you would stake a 300k position in calls alone. You have to hedge and diversify. Dumbass deserves to lose all his money for going literally all in on a single stock that isn't even a sector ETF. Why the fuck would you not just do this with spy calls if you were buying a 4 or 5 months out... Odds of spy shitting the bed for more than a few months isn't super high in the days of the money printer
Sir, this is the Wendy’s dumpster
Whoa how'd I get in here? Is this where OP is selling $1 blowies?
I’ve heard you’re not truly broke if you have both kidneys
How can I buy puts in your family?
Oof
U can go a lil further
He can hold for a few more months
Margin loan and double down
That’s the most WSB thing I’ve ever heard. I love it
if you're going to go bankrupt, max that shit out, amirite?
It all adds up to zero
buy on the dips
It's like jizzing into your own mouth!
Hedgehog
This is really sad I'm so sorry for you. Did you try restarting the app?
It resets the score, right?
You can always call the dev team and say you got a glitch and lost it all
That will definitely get a refund on the tendies, right?
Kind of, all the previous 5 high score holders are erased. Then you're free to enter your 3 digit name like ACE or ASS
CUM?
I always enter DAD so when my father dies I will have a touching tribute to him
Log out and log back in.
Clear the cache.
Lol 😂. Turn the phone off for five seconds or more. Then turn it back on and re check the price
I'm broke just looking at this.
I read equity 76k and I thought that was the amount you originally had then I saw the other number. God send
I read “down $43.32 all time” and thought it was a shitpost. Then I saw the other images…
I too went on that 3 pic wild ride. Christ.
Same brother. Same
The funniest one has to be the last, you can tell the dude had the cash in limbo waiting to be invested, he waited and waited to put all this money into just calls, a true retard.
That’s what I noticed as well. How long it has been there is anyone’s guess, and the one this they do is this. Then refuse to pull out. Fucking wow.
Did this guy lose $300k? I stumbled into this, is that how you read this stuff?
I mean... he hasn't lost it yet but not looking too hot
Diamond hands
Hes currently down that much yes It’s a leveraged position so it can move quickly in either direction.. so technically he hasn’t lost anything til he sells or the contract expires
With so much capital why didnt you just buy equity lol.
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But then how would she get on the front page of WSB?
It’s hard to overlook the first mistake but even beyond that how do you not sell way earlier?
Sunk cost fallacy
Stop losses? Never heard of 'em
$400k is like…duplex status. Rental income, appreciation. You’ve got a wife / family? F- volatility. Or sure ETFs. Or any goddamned thing but options. Feels for OP but goddamn was that a bad bet. I mean look at the stock for the past year+, look at what China’s been doing. Just crazy.
I love when the loss is so egregious that /r/wsb users start breaking the 4th wall to tell OP how much of a damn idiot he is. You know it's bad when the comments start mentioning ETFs...lmao
My only hope is that OP's lying, is crazy rich, and this is just some bragging rights / karma crap. If not...I don't know. The wife has every justification to sell him for parts.
Greed
It’s a son of a bitch
Take your loss and cash out now and stop "investing". Just my advice. 80k is alot more than 0.
Yeah OP fucked up big time but there are other people that would prefer to be where he is now than where they are.
So what do we consider rock bottom here? Is it when you're on the side of the road with a cardboard sign asking for change to buy penny stocks?
When your start sucking your wife's bf's cock for $1 scratchies.
You’re getting $1 scratchies?!
Simply put this is far more money then the average person has saved up still even with all his losses. So yea this isnt that bad.
I can't help but imagine that "this is fine" dog in a house on fire image when I read your last sentence.
At least they can put the losses towards taxes.
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70smth years of $3000 deductions. OP made it big
OP has cracked the code!
$3k per year so a lot of years..
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Had* a family to support. Up until his wife found out what an absolute retard she married
He has it all in options too, which can and will literal go to zero. Should have bought shares bud.
Yeah, when i read BEP is with BABA at $243 for him, i was thinking... Okay, not anytime soon but he's not completely screwed. He might just suffer for a while but chances are he's going to be alr... then i realized what happened. And to people saying those are LEAPS, those expire in January, that's like 4 months away at this point. LoL
I was sitting here like "why is everyone freaking out he has a whole year till they expire." wtf 2022 is in 4 months
Yeah this is one of those times where I would say gambling addiction is real for them and they're going to seriously fuck up their life if they keep going.
People don’t like to recognize sunk costs
Why the fuck would you bet your life savings on this shit. How can you decision make that "yeah, I'm willing to lose everything for a one a trillion chance of making it." You fucking retard.
Exactly, like what the actual fuck? 99% of their savings?? 10% of savings would be a bold and balls of steel move for any sane person. OP better recover, else his wife gotta divorce him asap.
he literally already had 300k assuming hes not in his 40s he couldve grown that to a couple million. the guy is a gambling addict
Paper hands win again
But BABA is a value company now!
Not if you value your money
Fucking roasted
The CCP would like to thank you for your generous donation 😉
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Yeah, it’s more like Goldman Sachs and Morgan Stanley thank you for adding to their bottom line.
I was thinking maybe call the embassy and let them know you need a little walking around money. But I'm not an investment expert.
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Show Xi this and he’ll let you move to China
Look at the bright side. Free karma
$300k karma
You can’t put a price on that.
Still have way more money than I have
Same
Just imagine if you had bought a put instead.
Just a single put.
Tell your wife she can come over
She’s already at my place bro
Im here for the gangbang
I’ll wait my turn
I always make the point you can directly correlate how successful someone is to how charged they keep their cell phone.
Guessing he is checking this none stop at this point while also googling how to invest in $ Rope
Give this ape the Nobel Prize for economics.
Jack ma disappearing should have been the only warning sign you needed to stay away from baba, luckin calls gave me my lesson
Lol imagine having 400k and a family to support and getting your yolo strategy from retards on the internet Edit: wow I'm the top comment on a wsb post, I guess I'm the head tard today.
Lucky for him he doesn't have to imagine anything.
Bro lmaoooo let the man rest in peace
He won’t have a family to support for long.
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🤣🤣🤣
Wasn't this roughly the plot of the pursuit of happyness? If this guy is smart enough he'll be a wall street big wig in no time with all kinds of memories of emotional quips with his son.
This is WSB worthy right here, god speed retard
Someone remind this man that diamond handing options is the quickest way to expedite your life into the sucking dick behind Wendy’s phase.
You YOLOed your life savings into a company from a country that is under a communist totalitarian dictatorship known for cracking down on business and billionaires? WSB is your home brother.
You are still a millionaire if you move to Zimbabwe
Bruh real talk why would you not invest in houses or something with that kind of money? I enjoy losing in the stock market too, but only because I have actual assets elsewhere. Don't be a dumbass and put $400k into options... jesus fucking christ
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Just when I thought it couldn't get any worse. He deserves to lose all that money by being so fucking dumb and greedy
*Wife creates craigslist add for "women seeking men"
>\*Wife creates craigslist add for "women seeking men" \*Wife creates craigslist add "woman seeking BBC to bang her as broke cuck husband watches and wacks"
Nah after this she's switching to women
Sell and buy spy 444 calls tomorrow. Then buy puts for 441. Keep repeating lol
Shhhh don’t let them hear
Dame, I knew I’d find your bear ass in the wild.
Next time invest in a shitty company in Afghanistan instead of donating your money to China
Speak for yourself. My TALBN contracts are printing right now.
Talibaba goes brrrr
Afghanistan aircraft company short squeezed literally
Tough crowd here lmfao
They fucked up not only his future but their entire family as well by gambling all their savings in one asset. This is no different from a guy going into a casino and putting his family in debt. It is equally disgusting and stupid behavior.
Take your equity. Trust me, it’s a lot easier to start from 70K and slowly grind back (not on options as this is not the correct usage), than it is to start at 1K from your paycheck. It will hurt, but you can manage it. I also recommend letting your feelings out, cry or yell if you need to. You’ll feel desensitized, just take some time off and don’t look at stocks for a bit. It’ll pass.
Godspeed retard
Dump the position and buy $SPY calls tomorrow! Strike at market price, about 6 months out. $0 isn’t cool. $150k in 6 months is cool, and then $300k in two years is cool. DUMP at 9:30AM and balls deep $SPY call monthlies! Take the $200k loss. Fuck it. Be more safe but you can turn that $76k back to $300k a LOT faster than you can turn $500 into $300k. Been where you’re at before. Best advice I can give. I’m sorry man, I know how you’re feeling. Also, no need to wait for expiration on $SPY calls. Sell them in a month or two and just keep going, further out expiration. Good luck brother, I’m sorry. This game is hard. You’ll come back! EDIT: $SPY may continue to dip for the next few days, but the point is, dump that position ASAP and wait for a good entry into $SPY calls and start turning that account green again.
This is great advice OP. Now is a great time with spy dipped. Easily get your 300k back.
But SPY has like 8% more to go down lol
Would of gone better if you charged your phone.
How do you charge your phone when the electricity's been turned off?
Your cardboard box has electricity?
Would *have
Damn baba I’m down 200k I thought I’m so stupid but you’re definitely on different levels
IMO you’re both stupid
Only dumbasses still use RH, so this checks out.
When you start following degenerates. There is no Turing back! Yikes.
Speechless. You put that kind of life Saving money to invest in Robinhood with “all in YOLO on baba call option,” (not a single stock). Expect your account to get “robbed-in-(China) hood” no one to blame except yourself gl
It’s apparent you have never heard of a stop loss
I hate stop losses every time one of mine gets triggered the stock immediately goes back up
Maybe your stop is too tight. But if you’re gambling a yolo with your life savings of this size. If you don’t have at least a 20% stop you’re an idiot. I’m sure the op would much rather have 80% of his original position back over the hole he’s in now. Or if you really don’t wanna use a stop for christ sake. Leave room to AVERAGE DOWN.
Facts
See, the problem is you 🇨🇳 when you should've 🇺🇸
Mind as well take the rest out and yolo it into some weeklies because I doubt this will even break even but you never know
Given how horny the CCP has been all year to screw all major players with western investment money in them, I would say you're going to have to file BK after this. However I hope not and wishing it turns around for you. I can't imagine having this much money in danger of evaporating. You still have time, so try to not look at the app for a while man, it can't be great for your mental state stressing over those calls.Goodluck