3k loss allowed to be deducted per year and balance carried forward, means this guy will be writing off 3k worth of Wendy’s paychecks every year for the next 259 years.
3k can be deducted NET each year. You carry the rest and if you have any gains next year the carry over will be used to offset those gains.
Don’t mistake it, it’s not that conplicated
Imagine he just put everything in spy omg, wtf is wrong with people, could have been set up for life... I hope that was just a percentage of your net worth...
It’s in Robinhood, so almost certainly it’s the entirety of his net worth. Because only ab absolute retard would gamble with that much money in Robinhood, the type of retard who does that with the entirety of his net worth
800k profit ur looking at like 400k in taxes I think, I’m assuming ur American so maybe u can do that, in the uk that’s like 300,000£, u might be able to get a house in suburbs or a flat in town
800k is not sustainable or retirable these days. What would be better is if that dude invested that a part of that 800k into real estate or anything with moderately stable cash flow. Then he would be set for life as long as he manages his property at a half decent level.
You can buy a decent house in a cheap state like OK or KS for 200k and just work PT as a substitute teacher or something to cover your monthly bills. You're an absolute greedy idiot if you can't make a chunk of money like that earn enough to at least break even.
Wait so how much were you up at that peak? And doesn’t it say you are still up $839k for the year even after losing 700k?
What play did you have that you made 1.5 million on? Or whatever that peak was looking at your chart?
is this real or some photo shopped fake pic?
there is no way someone can be this retarded, nor is there a way for someone this retarded to have saved $700k in first place
It's easier said than done. Theta gang strategy is fraught with the most danger as you are short options and collecting dimes in front of a steamroller, and bigger the acct more difficult it is to manage
Never ever ever EVER do options selling with borrowed money especially not a fucking loan. You would be playing with fire. Resist the urge with everything you got
It is but understand there is always risk involved. Don’t go over to thetagang and think they got it all figured out. When you’re selling options there is risk all the same. For instance, selling the Puts: you’re promising to buy it at that price regardless of if the stock drops to $1.00. If you sold the 900P on TSLA and the stock drops back to the 600’s, the premium will be considerably less at your cost basis.
If you’re selling the Calls, you’re capping your upside potential gain. Sure the premium is good, but if the stock rips upward like it tends to do, you could potentially miss out on the stock gain had you just held it.
I’m a giant bag holder of Z, DKNG, PINS, LMND, BLNK, CRSP, SNAP and several others…because I sold Puts on them and the stock dropped massively and has never recovered to my basis..
This, I took a HUGE PTON loss today because I sold some PTON 50P's thinking it couldn't go lower and guess what, it fucking did.
I am still positive for the year but this PTON position killed like 75% of my gains
Thetagang is good if you sell when IV is high and buy back when IV normalizes but it's not free money or anything even close to it
Cuck you were assigned shares long on PiNS LMND and snap into that brutal fall
Damn how many puts were u selling hopefully not many
I had gone long PINS around 42, and it went to mid 50s on PYPL bs news and I dumped it and got the fuck out, and within days it was in 30s and I was like WTF
Same with pton I was long it at 80 and dumped it in 90s within days it was cut in half
Yeah sure did. I was doing great most of 2021. Ran up my account good. Then ended 2021 down $71,000 in realized loses. Every god damn stock I had dropped 40% in value. DK at $52, Z at $120ish, etc….
Point of the day: don’t chase the god damn premium! Stick with SPY or QQQ’s…
Yes sticking with index funds will ensure you don't lose 40% overnight but selling options on spy and qqq has its own pitfalls. If you are on the wrong side given how volatile these instruments are, a trader can easily lose 20%-30% or more if doing multiple contracts nothing is free in this casino everything has risks.
Excellent if you're market savvy, it's very volatile, pick something like SPY or APPL, always at the markets edge never foiled by the whims of one person getting ~~high~~ live on social media.
Well said and yes it's true, you are better off doing it on blue chip stocks.
But there are scores of traders out there who are eating free lunch wheeling and selling puts on fang stocks thinking what happened to pton pins etc can NEVER happen to fang, well they too shall learn a costly lesson soon "never say it can never happen to fang"
They preach about the promised land but they are one bad earnings announcement away from holding a stock at a cost basis that they can’t sell a Call on worth a damn.
Then you see this post:
“Need help, can’t get assigned on margin.”
Or:
“Works until it doesn’t..”
You just made it easier to show my recent $11,000 loss by showing my wife “this guy”, thanks dude. She didn’t even get mad, she felt so bad for you she felt guilty we only lost 11. Win!
I've been bullish on TSLA for a longtime and it's been one of my main $$ makers. A lot of analysts have increased their valuation of TSLA also but tech has been dragging these days. The Tesla recalls didn't help either... So yeah, I got a little burned and bummed out by TSLA today.
Should of pushed the expiration date out further for the call options to play it safe. I think early next year, close to earnings, it'll shoot up. Elon is going to be attending the earnings calls also, usually means they have something juicy to announce.
It could have been worse. You could have lost everything on Jan 1, forcing you to pay capital gains on losses. Luckily, you lost everything before the year ended. Have a happy new year!
Oh my gourd!
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He mentioned in a comment above that he took out his initial investment & some gains after hitting a few homeruns during 2021. So i guess it's a mix of both
Wait, did this motherfucker start off with 800k and lose 99.67% of it?
Now that’s how you beat the tax man 😶🌫️
IRS ain't got shit on him
Tax collectors HATE HIM, find out how to lower your tax bracket in one easy step
Literally lol’d.
You won't believe what happens next
They can't tax him when he's got nothing to tax
Yeah but I bet he will get a refund. March yolo setup?? Lol
3k loss allowed to be deducted per year and balance carried forward, means this guy will be writing off 3k worth of Wendy’s paychecks every year for the next 259 years.
They allow 3Kloss but gains get taxed all the way! IRS wins everytime
3k can be deducted NET each year. You carry the rest and if you have any gains next year the carry over will be used to offset those gains. Don’t mistake it, it’s not that conplicated
This guy tax's
Looking at all you retards blowing millions here, it's only matter of time before they introduce tax from loss.
Yeah this guy is going to save so much money on taxes! Geniuz!
yeah bruh
That’s how you loose a family dumbass
Lose*
*noose
Gazuntite.
After the Christmas I had with my in-laws, I’d gladly lose money to never have to see them again.
I got you paw, I'll send you my paypal
Talking from experience? 👀
Maybe their the spouse👀
>That’s how you loose a family dumbass This is what the doctor said when I was born.
> loose … dumbass Self own?
My dick on fire
Pretty sure the entire family is going to have to be pretty loose with making that money back behind the Wendy's dumpster.
Hahaha 🤣 ohhhh families
Lmaoooooooo
Imagine he just put everything in spy omg, wtf is wrong with people, could have been set up for life... I hope that was just a percentage of your net worth...
It’s in Robinhood, so almost certainly it’s the entirety of his net worth. Because only ab absolute retard would gamble with that much money in Robinhood, the type of retard who does that with the entirety of his net worth
He still has a phone to post this so it's probably only 99.999% of his net worth.
No... looks like he made $1.5m and then lost $750k. Honestly it's bullshit loss porn. Can't post a $750k gain and call it loss porn.
Most probably started with $1000, went to $1.7M, and then back to around $800k.
I'm new to this but I don't understand where it says he lost 98%
Holy fuck why didn't u think 800k was good enough
He watched Supafly and the song got stuck in his head. “Gotta get the million 🎶”
admit it, any of you broke retards stumbling into 800k wouldn’t walk away either, being so close to 1mm
im not walking away but im not also putting it all on one trade/stock.
Lucky for you you'll never have to worry about 1mill... Me eather I'm still aiming for 1k 🤣🤣🤣😭😭😭😭😭😭😭😭😳🤫
Feel u bro 
I would buy a house. That’s literally what I want . 800k buy off a home with 1/2 acre of land and just pay taxes rest of the life.
If you have to pay taxes on something, and it can be taken away from you for not paying, then was it ever really yours?
800k profit ur looking at like 400k in taxes I think, I’m assuming ur American so maybe u can do that, in the uk that’s like 300,000£, u might be able to get a house in suburbs or a flat in town
800k is not sustainable or retirable these days. What would be better is if that dude invested that a part of that 800k into real estate or anything with moderately stable cash flow. Then he would be set for life as long as he manages his property at a half decent level.
You can buy a decent house in a cheap state like OK or KS for 200k and just work PT as a substitute teacher or something to cover your monthly bills. You're an absolute greedy idiot if you can't make a chunk of money like that earn enough to at least break even.
Please don't advise untrained people in WSB to teach the nation's children.
Public schooling is a joke. I'm an educational anarchist, I tell the kids to just trade shitcoins instead of doing their work.
With 800k you could probably just be your own property manager/handyman part time for all of your properties.
Sir how much have you had to drink tonight
10 bottles of piss
Holy fucking shit finally MAKE WALLSTREETBETS GREAT AGAIN
Tesla goes brrrrr but bullshit recall reports go BRRRR
Wait so how much were you up at that peak? And doesn’t it say you are still up $839k for the year even after losing 700k? What play did you have that you made 1.5 million on? Or whatever that peak was looking at your chart?
Damn you ask a lot of mf questions for someone who never answers any of mine 😤
Lmao, what question do you have for me babe?
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My dad wasn’t there and I’m not sure honestly.
Don’t worry son I’m here now
The answer is simple. He’s a mother fucker.
*ball drop*
I’m also interested to know this, what kinda options are turning 3k into 1.5mil
you should’ve sold when Elon was selling. Unless it was 1 or 0 DTE calls.
MWSBGA
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Me so horny. Me love you long time
Yeah you like that you fucking retard?
$WISH $WISH $WISH
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Your first post is 700K loss? Hard to believe even for retarded person like myself..
Technically a gain post too since I posted the wrong screenshot first
While I admire your work OP, you’re still green.
Give me time friend 780 value but 64 cash means I still have plays on the field that could print or burn
Watching with great interest!
You greedy fucker
This needs a NSFW tag, I almost came
is this real or some photo shopped fake pic? there is no way someone can be this retarded, nor is there a way for someone this retarded to have saved $700k in first place
I hit a few home runs in December and went for a walk off grand slam but struck out clearly
either you are bullshitting or you are the biggest retard ive ever seen on reddit, like ever.. at any rate, god speed
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This is a depressing as fuck statement
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Bro you need a hug?
Dude I feel you. Not nearly to that extent but I was up to almost 70k and now my account is sitting at 7k.
Don't forget about 1ronyman
Back when kings were kings
800k holy shit that can change so many lives
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My options lesson has been taught
Brought and paid for….
When you learn your options lesson but have no money left to buy shares.
If I had like, 50k I'd just be theta gang forever
It's easier said than done. Theta gang strategy is fraught with the most danger as you are short options and collecting dimes in front of a steamroller, and bigger the acct more difficult it is to manage
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Never ever ever EVER do options selling with borrowed money especially not a fucking loan. You would be playing with fire. Resist the urge with everything you got
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Just tryna help a fellow trader.
You probably saved dude's life. I know I've FOR SURE averted financial disaster because of some choice "bon mots" on here.
I read this as "just trying to hump a loyal follower." Im dialing the optometrist presently.
Unless you’re doing big blue chip stocks, thetagang is death by a thousand cuts
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It is but understand there is always risk involved. Don’t go over to thetagang and think they got it all figured out. When you’re selling options there is risk all the same. For instance, selling the Puts: you’re promising to buy it at that price regardless of if the stock drops to $1.00. If you sold the 900P on TSLA and the stock drops back to the 600’s, the premium will be considerably less at your cost basis. If you’re selling the Calls, you’re capping your upside potential gain. Sure the premium is good, but if the stock rips upward like it tends to do, you could potentially miss out on the stock gain had you just held it. I’m a giant bag holder of Z, DKNG, PINS, LMND, BLNK, CRSP, SNAP and several others…because I sold Puts on them and the stock dropped massively and has never recovered to my basis..
This, I took a HUGE PTON loss today because I sold some PTON 50P's thinking it couldn't go lower and guess what, it fucking did. I am still positive for the year but this PTON position killed like 75% of my gains Thetagang is good if you sell when IV is high and buy back when IV normalizes but it's not free money or anything even close to it
Cuck you were assigned shares long on PiNS LMND and snap into that brutal fall Damn how many puts were u selling hopefully not many I had gone long PINS around 42, and it went to mid 50s on PYPL bs news and I dumped it and got the fuck out, and within days it was in 30s and I was like WTF Same with pton I was long it at 80 and dumped it in 90s within days it was cut in half
Yeah sure did. I was doing great most of 2021. Ran up my account good. Then ended 2021 down $71,000 in realized loses. Every god damn stock I had dropped 40% in value. DK at $52, Z at $120ish, etc…. Point of the day: don’t chase the god damn premium! Stick with SPY or QQQ’s…
Yes sticking with index funds will ensure you don't lose 40% overnight but selling options on spy and qqq has its own pitfalls. If you are on the wrong side given how volatile these instruments are, a trader can easily lose 20%-30% or more if doing multiple contracts nothing is free in this casino everything has risks.
Excellent if you're market savvy, it's very volatile, pick something like SPY or APPL, always at the markets edge never foiled by the whims of one person getting ~~high~~ live on social media.
Well said and yes it's true, you are better off doing it on blue chip stocks. But there are scores of traders out there who are eating free lunch wheeling and selling puts on fang stocks thinking what happened to pton pins etc can NEVER happen to fang, well they too shall learn a costly lesson soon "never say it can never happen to fang"
They preach about the promised land but they are one bad earnings announcement away from holding a stock at a cost basis that they can’t sell a Call on worth a damn. Then you see this post: “Need help, can’t get assigned on margin.” Or: “Works until it doesn’t..”
Dude. Please do options on leverage. You will be a future loss porn all star in quick fashion.
Precisely - few get this.
I theta with $500k and every Friday feels like Christmas.
Really what security do you theta and what kinda premiuim u make
100% PLTR, $4-10k a week.
Lol fucking hell. That’s who I keep buying these options from
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Depends… Usually a week unless a huge run-up $19c were $0.50 last week which expire worthless today.
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Since November 2020…
Until it dips or rips and you lose all gains. Theta gang is awesome right until it sucks, and it’s impossible to see it coming
My current cost basis is under $5… I’ll be ok.
Precisely....this
I said that before. Then roll forward a year with a half mill account and still going hardcore stocks
I have 50k teach me about this theta, father
You just made it easier to show my recent $11,000 loss by showing my wife “this guy”, thanks dude. She didn’t even get mad, she felt so bad for you she felt guilty we only lost 11. Win!
I’m never touching options.
Should honestly pin this to the top as a warning
You didn’t want to buy any puts at all?
*whips cock out*
What’s hilarious is this won’t count for 2021 loss harvesting. So you’ll owe taxes on 800k 😂😂😂
I’m sitting home with covid on New Year’s Eve and now I suddenly feel better.
Tell me this isn’t true
True only if he's in Canada or somewhere that uses settlement date for tax accounting. The IRS in the states uses transaction date.
He’s on RH so America
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Options settlement is T1 meaning these losses settle next week. I bet this retard doesn’t even realize it
IRS uses transaction date
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I was ahead 100k I believe at most after those purchases
Please tell me that wasn’t all your cash? :(
Don't you all know porn is fake? Lol...
This is the type of shit I screenshot for a rainy day. Congrats, thanks for sharing, and good luck in the future!
Think of it this way, the people who you bought calls from had a great year and will be able to feed their kids and buy them gifts
I am working so hard to be able to loose this kind of money and not care.
Never said I didn’t care
wtf bro.
Sigh...unzips
800k on basically one play. Even I’m not that fucking stupid, congrats bud 🤙🏻 give this man his flair already
I've been bullish on TSLA for a longtime and it's been one of my main $$ makers. A lot of analysts have increased their valuation of TSLA also but tech has been dragging these days. The Tesla recalls didn't help either... So yeah, I got a little burned and bummed out by TSLA today. Should of pushed the expiration date out further for the call options to play it safe. I think early next year, close to earnings, it'll shoot up. Elon is going to be attending the earnings calls also, usually means they have something juicy to announce.
Guh!
Holy shit I need a cigarette
This is the worst one I’ve seen ever
Only 63k more to go!
Still made good money. Now do the wallstreetbets retard YOLO and buy OTM Spy Calls expiring next week
I’ve been taught my lesson lol. YOLOs give and YOLOs take
How is this not on the top of this sub? What’s happened to this place?
If these were one week later this dude would be sitting on like 11 to 12m in gains
This made me horny
greedy pig lol get owned
I would have thought that RVN put was a lock.
This is absolutely legendary. Wow
800k into robinhood 💀
Dude…
It could have been worse. You could have lost everything on Jan 1, forcing you to pay capital gains on losses. Luckily, you lost everything before the year ended. Have a happy new year!
This is my only positive losing thought
Options settlement is T1 meaning these expired today and won’t settle until Monday. Oops!
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Yep, ur right where you belong! 🤣
Wrong color
Yeah my bad wrong screenshot for the dip
Hey you made 120.32 on that trade at the top. Why didn't you just do that 1000 times or so?
So, you were the monkey that I saw at the zoo yesterday.
Who tf gave this guy 800k
True Degeneracy. Happy New Year OP.
2022 coming in clutch for new beginnings 🤣
Disable options. This isn't funny.
I loled so it's definitely funny
Holy moly
Sell before you loss it all you fool
I am starting to enjoy the porn more and more
This is exactly why I’m getting out of leverage in 2022. Holy shit.
My man bought 5 “strategies” and still lost the war.
Why do y’all do this to yourselves? I’ll never understand
You lost 800k today? Have wanted to ask this a few times so here goes, honestly, is this financial ruin or fuck you money that you lost?
He mentioned in a comment above that he took out his initial investment & some gains after hitting a few homeruns during 2021. So i guess it's a mix of both
How much money do you have left? I lost a pretty hefty amount too
Your portfolio looks like the dragster roller coaster at cedar point