Wallstreetbets is a blood bath

A good lesson to never go too large on short dated calls.
Always consider what your total portfolio would look like if they go down 90%

For many, it was their total portfolio (I’m just guessing here).

Really a good lesson for 90% of retail options buyers to not play options.

If this isnt the lesson they will learn. Humbling little frickers, options are.

But to OP.. this isn’t the start of a bear. Too much cash flowing right now.

Theres undebatable data that supports that. Retail has been on it this year. Institutions have been buying higher.

Hyperscalers aren’t about to turn the cash spigot off either. At some point but not because Trump is going after China.

If anything it’s going to ramp up the AI race against our most legitimate competition.

But nothing is ever a sure thing. Maybe I’m dead off here.

I got lucky taking a lot of profits early in the morning expecting a Friday rip and slide. I was correct, but should have bought puts. Unfortunately I was busy doing other shite. Saw a guy on WSB bought $500 of 0DTEs 669p immediately before the Trump tweet and sold for $25k

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Either knew something or got lucky.

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That was lucky. Would have been way more if he knew anything. I occasionally open $500 0DTE positions, especially on Fridays

There was a 9 figure bitcoin short position opened 30 mins before the Trump Tweet in a brand new crypto account. Made $192MM in profits when the position was closed. That was an insider

Always a good reminder that in a bull market everyone thinks they’re smarter than they really are and very few can actually beat the market consistently.

I’d like to learn more about options but also at the same time know you can lose your shirt pretty quickly.

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I occasionally open $500 0DTE positions, especially on Fridays

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How do you do that? I've never done anything other than straight stocks.

Friday is smart because bad news is usually announced on Friday. I wouldn't mind throwing a small amount at something like that. $10 would have turned into $500.

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How do you do that? I've never done anything other than straight stocks.

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Buy a put that expires on the same day. NOT recommended.

If you want to learn options start with a call that is 90-120 days til expiry with a strike price that is near the money.

You’d probably want to start with a delta near .5 or higher.
Go with a company with high options volume, but more stable than TSLA or NBIS.

Maybe INTC or GOOG.
INTC isn’t as much per share as GOOG so there’s lower barrier to entry.

If you have no idea what any of this means look up the terms on your favorite Chatbot.

Edit to add: Set a price target and sell.
20-30%
But mostly, study the way it moves with the stock.
And watch out for earnings.That could make it a gamble because it’s a binary event.

ETA 2: Know when you’ve lost. If you’re inside of about 3 weeks until expiry and down 30% or more it’s time to close out and move on, or rollout to a later date (unless you think earnings can save you and you’re willing to lose it all to wait and see).

By far, the most infuriating options trades are where you’re doing the “right” thing by selling at a loss, then the stock jumps 40% before expiry.
That will happen. But it’s all about risk management. It won’t happen most of the time.

ETA 3: Replace INTC with SOFI. It’s near the same price per share but a much better stock to own or trade

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But to OP.. this isn’t the start of a bear. Too much cash flowing right now

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I don't know and you don't know when the bear market will come, but my point was they get a taste of what happens with their insanely risky option strategy in bear markets.

This is good info, i can't stress enough, if you want to start with options, DON'T START WITH NAKED OPTIONS. This way you can see when you would have gotten smoked, without actually getting smoked.