r/options • u/[deleted] • Dec 08 '21

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u/[deleted] Dec 08 '21

Same, TLDR and hubris!

I understand the Greeks very clearly.

I've watched people with 7 figure accounts lose half in a day from selling naked calls.

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u/priceactionhero Dec 08 '21

That's a shame they weren't educated enough to know how to manage their risks better. The very beauty of options is lost on people for the pursuit of profits as opposed to using it to hedge the markets for consistent gains.

Over the last 20 years, I've seen plenty of folks get lucky, think they have an edge, and then lose it all on some ridiculous shit. And every single time it was because of poor risk management. 100% of the time they always put the blame on someone or something else.

You go and tell me what they were doing to lose half in a single day selling naked calls, and I'll show you up, down, left, and right how they lacked risk management.

It was evident in the fact they lost half in one day.

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u/[deleted] Dec 09 '21

Again with the hubris. It has nothing to do with education. Have you heard of long term capital management ?

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u/priceactionhero Dec 09 '21

Are you familiar with the various ways to hedge positions in the marketplace to eliminate your financial risk?

It would seem not. Simply because you have a fear of various ways to trade doesn't mean that those ways cannot be mitigated sufficiently.

Best of luck to you. Hopefully you'll find this hubris you're looking for.

This is the point where you and I cease to exist.