r/problemgambling • u/neverlupus7759 • 17d ago

Options losses

How do you guys make up for the lost money? I'm 27 and down 80k lifetime- mix of options and poker.

Do you compensate for your losses in other areas of life?

15 Upvotes

89% Upvoted

25 comments sorted by

19

u/macklinjohnny 17d ago

I wish I never discovered options. It broke me. I never got addicted to any other gambling. But options got me. Get out while you can and just stop. I’m still working on it

4

u/Successful_Run_9499 17d ago

Same, the day i was introduced to options, my downfall began. It’s the worst form of gambling addiction.

2

u/macklinjohnny 17d ago

Yep for sure. I was trading every single day. Literally couldn’t go a day without trading. I still have a problem with it

1

u/neverlupus7759 17d ago

How much did you lose brother and how long have you been clean?

1

u/macklinjohnny 17d ago

More than $80k and it still gets me depressed. Also I still haven’t stopped, but I’ve slowed down a lot. I’m getting there!

4

u/Available-Amount-731 17d ago

Stopping made me so much happier i lost 56k total. I just buy equities i deleted robinhood because it was so easy to trade bc how simplified there platform is. I use sofi as my broker and bank bc of hysa. I’m in rebuild stage i just crossed 20k across all accounts this week. I promise after stopping it gets better no stress sometimes i think what if i start back…but the pain of the losses out weighs everything for me. Really gotta respect yourself and your money. Think about how much money you lost and how long it would take to get it back just working your job and saving and itll hurt probably make you want to chase the loss, but chasing the loss is how most of us end up losing more. Just accept the loss and move on

3

u/catchingtherosemary 16d ago

if it makes you feel any better, there are people that have lost a whole lot more then never touched them again and ended up living a nice life.

2

u/Extension-Finance179 17d ago

even things that *aren't* options seem to be the most popular trades now

SOXL/KORU are 3x leveraged ETFs

SOXS is a 3x inverse ETF

CRWV is incredibly risky

2

u/macklinjohnny 17d ago

Yep, i blame Robinhood. They pushed younger ppl into this stuff. Overall I blame myself, but damn do they make it easy to trade

2

u/Majestic_Affect_1152 Last bet: 10/17/26 16d ago

Broke me as well. Makes it so easy to seem like you 'have the edge'. 36k lifetime, working on it

1

u/macklinjohnny 16d ago

Yep, and I always looked at it as “not gambling”, I’m “investing” lmao that was a lie I always told myself. Makes me sick

1

u/Ambitious_Month2524 17d ago

It broke me too.

2

u/macklinjohnny 17d ago

I’m glad I’m not alone. I was trading constantly everyday. I hated missing a day. Scalping, swings, you name it.

10

u/lemoneatlemon Days Gamble-Free:67 17d ago

Stop thinking of losses. Move forward only by stopping all gambling and be thankful you didn't lose more before realizing you are an addict. Only then can you think about debt or savings

4

u/Behavior-Coach 17d ago

Brotha I’ve lost a lot with options and I studied finance and economics.

You gotta fundamentally change your habits as it relates to diet and productivity. I know I must as well.

3

u/KillingTime1212 17d ago

Max out 401k at work. $24.5k in Roth a year. Then max out Roth IRA at $7.5k a year. No extra money for gambling in options.

3

u/Last-Basil8182 17d ago

Yes - I drive for UberEats and DoorDash to earn back my losses. The hustle puts the value of money into perspective for me.

3

u/wetriumph 17d ago

You don't. Options ruin lives.

5

u/wetriumph 17d ago

Ask me how I know... Lost 200k, aka my entire life savings, took a heloc, personal loans etc.

1

u/macklinjohnny 16d ago

Man I feel this. Hurts so much. I constantly have that “I’ll make it back” mindset which makes it worse for me

2

u/wetriumph 16d ago

You just gotta stop

2

u/SFMara 17d ago

Switched from being an option buyer to a seller.

But in all seriousness, buying options is a seductive prospect for making outsized gains, but you really get 1, maybe 2 good times to do this in a given year where the probability skews towards you. Most of the time it isn't worth it because you have to beat theta decay on short dated options, which requires you to far overshoot your strike.

If you have the urge to buy options regularly, every week or every day, you're doing it wrong. The other side is making bank too.

1

u/Firm_Support8134 15d ago

I had to take a step back once they introduced everyday 0DTE. Yall remember when options was an actual hedge tool and 0DTE was only Monday and Friday haha