I give up - 100k down
Not written with AI
I’m lost. And at a loss. Closed out all my options positions, deleted the app.
The initial losses kept chasing me to “break even” by doubling down but resulted in this absolute nightmare.
Thought process in each month was as follows
January - Surely the market is so overbought it has to come down more, right? Kept waiting, made 20k in quick puts for HOOD.
February - Oh robinhood came down from 150 to 100? It has to bounce from here no doubt about it, went in heavy with calls, it kept coming down, i kept buying more weeklies, it will go back to 100 anytime now 🤦♂️
March, April - Clawed back in selling premium slowly, recovered 120k from the bottom, slow and steady, bought calls on oracle after the downtrend, nvda, coreweave, timed the bottom perfectly on grabbing some calls, got more confident.
May - FOMO pushed me to play both side of calls and puts on INTC, TSLA, NVDA and the list you see. Everytime the market would prove me wrong i went ahead and adjusted my strikes, just to watch it go completely the opposite and kept losing one after the other.
Which brings us to today, the thought process being -
Nvda touched ATH last week with the china trip, TSLA ripped to 450, one good news and we would reverse the friday selloff, especially given the nvda earnings coming up this Wednesday. Went ALL IN just these 2 positions, trying to ‘recover’ the losses from INTC and CRWV. Then as fate would have it sold my calls at the absolute bottom today of 405 in TSLA and 218 in NVDA just to watch them bounce from it minutes later.
This is impossible to trade, I am open to suggestions on what to do but pretty sure I’m done with options for the near foreseeable future.
DD - now that I am out, watch NVDA and TSLA rip all week and go to all time highs 🫡 you’re welcome.