I saw this highly-rated post over on WSB about an Apple “investment”:
![yolo](https://slopeofhope.com/wp-content/uploads/2020/08/yolo-640x206.png)
So let’s see what we’ve got here:
- The fellow is almost certainly a young new trader;
- He is self-reporting that he was already down 68% on his portfolio;
- He put his entire portfolio into call options on Apple that were over $20 out of the money and expired in a week (!!!);
- Within minutes, he got blown out of the position;
- He went right back in, buying the same expiration calls that were even more out of the money (about $25 away).and no stop loss
All this on a stock who, let’s face it, have come awfully far, awfully fast……..
![slopechart AAPL](https://slopeofhope.com/wp-content/uploads/2020/08/slopechart_AAPL-640x330.jpg)
Look, I’ll be the first to admit the stock “market” has ascended vastly higher than even my worst nightmares dared ever conjure. But I think there’s a fairly serious chance that this young naive chap is going to see that 68% loss grow substantially in the near future.
We have created a generation of degenerate gamblers.