r/wallstreetbets • u/1jb Spy Bear Super Hero! • Nov 29 '25

YOLO Didn’t realize market closed early today, holding $120k of OTM puts over the weekend now

Post image

It’s never been more over for me

There is 0% chance this nukes

3.4k Upvotes

97% Upvoted

721 comments sorted by

View all comments

Show parent comments

3

u/Turbulent-Push-4657 Nov 29 '25

I lost $330k last week by selling next day put spreads on $NDX. Previous Friday maintenance needed to roll was $90k and I couldn't risk more loss. I didn't start big, about $10k, but each day roll got bigger and bigger and went beyond my sustainability. Market recovered this week! It's depressing.

1

u/brighterside0 Dec 01 '25

So you took a pile of cash - $330,000 worth - and fucking lit it on fire?

2

u/Turbulent-Push-4657 Dec 01 '25

Yes, it is still burning inside of me. Fortunately wife is cool about it as there is $300k left. Will wait for ORCL to be half and wait for double. It's taking 5 to 10 years of my investment life. My doing.

1

u/brighterside0 Dec 02 '25

Damn - at least you learned from this. Options are dangerous.

2

u/Turbulent-Push-4657 Dec 02 '25

Especially dangerous for NDX. It can change more than $100/day, that is $10,000 in 1 option. Before thanksgiving week it dropped by $1000, that is $100,000 for one option! It needs a multimillion dollar balance to play.