Option gambling dairies: 2 I a

Option gambling dairies: 2

I am a degenerate gambler that got bailed out by Powell, ratio was down -60% initially today and I still didn't put in a hard stop loss in the red on the decline. I only put a stop loss when it's in the green to secure profit🤦.

(Played QQQ puts for context)

A lot of hoping and praying was involved and I had no conviction that the market will trend down ultimately today despite the general news on the market.

I let an option go from 0.7 to 0.18 despite holding a small portfolio. Resulting in a deficit of -600$. It took Powell and last ditch gamble to turn it back to a positive 600.

Panick and anxiety is a sign of being over leveraged and gambling out of my comfort zone. One does not have to buy 10 contracts right off the bat based on just an indicator signal, if the confirmation is uncertain it means there isn't enough information to back it up.

It's more prudent to let it run, if it hits the stop loss so be it.

What Pitfalls Have You Encountered When Trading Options?

There are common pitfalls like Lack of basic knowledge about options, Excessive leverage, Ignoring time value, and Insufficient risk management. Share your experience with tigers to help beginners!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

bouncyo
04-17
bouncyo
Wow, that's quite a rollercoaster! 🎢 [OMG]
- Gah:
  Emotional damage. Theta loss to chop is traumatic, seeing your breakeven point float further and further away 🫠
jollyfo
04-17
jollyfo
Wise reflection

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I only put a stop loss when it's in the green to secure profit🤦.&nbsp;\n \n(Played QQQ puts for context)\nA lot of hoping and praying&nbsp;was involved and I had no conviction that the market will trend down ultimately today despite the general news on the market.&nbsp;\n \nI let an option go from 0.7 to 0.18 despite holding a small portfolio. Resulting in a deficit of -600$. It took Powell and last ditch gamble to turn it back to a positive 600.&nbsp;\n \nPanick and anxiety is a sign of being over leveraged and gambling out of my comfort zone. One does not have to buy 10 contracts right off the bat based on just an indicator signal, if the confirmation is uncertain it means there isn't enough information to back it up.&nbsp;\n \nIt's more prudent to let it run, if it hits the stop loss so be it.&nbsp;<img src=\"https://community-static.tradeup.com/news/f67b21032763fc31c153685c5be10ef9\" tg-width=\"878\" tg-height=\"1703\"><img src=\"https://community-static.tradeup.com/news/5e6922abe1baebe8de227f4c036505c1\" tg-width=\"1080\" tg-height=\"715\"></body></html>","htmlText":"<html><head></head><body>Option gambling dairies: 2\nI am a degenerate gambler that got bailed out by Powell, ratio was down -60% initially&nbsp;today and I still didn't put in a hard stop loss in the red on the decline. I only put a stop loss when it's in the green to secure profit🤦.&nbsp;\n \n(Played QQQ puts for context)\nA lot of hoping and praying&nbsp;was involved and I had no conviction that the market will trend down ultimately today despite the general news on the market.&nbsp;\n \nI let an option go from 0.7 to 0.18 despite holding a small portfolio. Resulting in a deficit of -600$. It took Powell and last ditch gamble to turn it back to a positive 600.&nbsp;\n \nPanick and anxiety is a sign of being over leveraged and gambling out of my comfort zone. One does not have to buy 10 contracts right off the bat based on just an indicator signal, if the confirmation is uncertain it means there isn't enough information to back it up.&nbsp;\n \nIt's more prudent to let it run, if it hits the stop loss so be it.&nbsp;<img src=\"https://community-static.tradeup.com/news/f67b21032763fc31c153685c5be10ef9\" tg-width=\"878\" tg-height=\"1703\"><img src=\"https://community-static.tradeup.com/news/5e6922abe1baebe8de227f4c036505c1\" tg-width=\"1080\" tg-height=\"715\"></body></html>","text":"Option gambling dairies: 2 I am a degenerate gambler that got bailed out by Powell, ratio was down -60% initially today and I still didn't put in a hard stop loss in the red on the decline. I only put a stop loss when it's in the green to secure profit🤦. (Played QQQ puts for context) A lot of hoping and praying was involved and I had no conviction that the market will trend down ultimately today despite the general news on the market. I let an option go from 0.7 to 0.18 despite holding a small portfolio. Resulting in a deficit of -600$. It took Powell and last ditch gamble to turn it back to a positive 600. Panick and anxiety is a sign of being over leveraged and gambling out of my comfort zone. One does not have to buy 10 contracts right off the bat based on just an indicator signal, if the confirmation is uncertain it means there isn't enough information to back it up. It's more prudent to let it run, if it hits the stop loss so be it.","highlighted":1,"essential":1,"paper":1,"likeSize":13,"commentSize":3,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/425252319625376","repostId":0,"isVote":1,"tweetType":1,"viewCount":1720,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":768,"optionInvolvedFlag":true,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":425368974594080,"commentId":"425368974594080","gmtCreate":1744858572238,"gmtModify":1744876842737,"authorId":9000000000000417,"author":{"id":9000000000000417,"idStr":"9000000000000417","authorId":9000000000000417,"name":"bouncyo","avatar":"https://static.tigerbbs.com/eb0370d3fa6e993a9a62f4b7ba0130a1","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":425252319625376,"objectIdStr":"425252319625376","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Wow, that's quite a rollercoaster! 🎢 [OMG]","text":"Wow, that's quite a rollercoaster! 🎢 [OMG]","html":"Wow, that's quite a rollercoaster! 🎢 [OMG]","likeSize":1,"commentSize":1,"subComments":[{"id":425470203543880,"commentId":"425470203543880","gmtCreate":1744883202867,"gmtModify":1744883207785,"authorId":4099384058789170,"author":{"id":4099384058789170,"idStr":"4099384058789170","authorId":4099384058789170,"name":"Gah","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":11,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":425252319625376,"objectIdStr":"425252319625376","type":1,"supId":425368974594080,"supIdStr":"425368974594080","prevId":0,"prevIdStr":"0","content":"Emotional damage. Theta loss to chop is traumatic, seeing your breakeven point float further and further away 🫠","text":"Emotional damage. Theta loss to chop is traumatic, seeing your breakeven point float further and further away 🫠","html":"Emotional damage. Theta loss to chop is traumatic, seeing your breakeven point float further and further away 🫠","disclaimerType":0}],"verified":10,"allocateAmount":0,"commentType":"hot","coins":0,"score":0,"disclaimerType":0},{"id":425367795384416,"commentId":"425367795384416","gmtCreate":1744858571343,"gmtModify":1744876842590,"authorId":9000000000000338,"author":{"id":9000000000000338,"idStr":"9000000000000338","authorId":9000000000000338,"name":"jollyfo","avatar":"https://static.tigerbbs.com/5542e95e8b2dae009b1c8a6854d922ee","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":425252319625376,"objectIdStr":"425252319625376","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Wise reflection","text":"Wise reflection","html":"Wise reflection","likeSize":1,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0,"disclaimerType":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/425252319625376"}