As rough a day as I had, there’s at least one fellow who has me beat by a mile. We start off on /WSB, where he shares what had been a handsome trading account with good results. This snapshot was on October 20th, just over a week ago.
Well, here’s the update from the weekend. Keep in mind, this collapse took maybe a day or two.
Naturally this person is in “so much despair” and “would do anything to go back to where I was before the big sell-off on Friday.”
Perhaps you are wondering, as I was, WHAT big sell-off on Friday. Was there a 5,000 point plunge on the Dow that I missed? I, of all people, would likely have noticed such a thing.
For your convenience, I have highlighted the aforementioned portfolio-destroying collapse:
The OP states that it was “SPY calls that killed me.” In order to inflict THAT kind of damage, he must have been his entire portfolio into extraordinarily aggressive calls that required a huge up move on Friday to make it pay off. Instead, the market did almost nothing, and it was a nuclear bomb to his account.
Here’s the entire sordid tale, including the always amusing gallows humor comments:
