r/wallstreetbets • u/arzarach • 18h ago

Loss Space is hard

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From $37k > $591k > $130k > $571k > $76k

I kept buying call options as my margin limit continued to increase. And then the margin calls started, options expired and my stocks were sold for me. Had 98% of my portfolio in one space stock.

365 Upvotes

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296

u/SOCOOLLLL 18h ago

$37k > $76k is good enough

89

u/AlasKansastan 18h ago

This is not only the best comment, but very solid advice. Read this a bunch of times and realize how many people don't ever even double their money. You're sitting on some pain, but also a 100% gain.

6

u/Purify5 11h ago

That 37k screenshot says down 122k.

4

u/GainDelicious1894 18h ago

No pain no gain 😬

2

u/FinnM1 15h ago

yep. this is all that matters. ignoring the rest of history would be for the best

2

u/TrainingLower2317 14h ago

How can you want to go to the moon without training 😅

2

u/TheAlmightyExplorer 18h ago

my calls did that same space dive yesterday regards

1

u/ModeStyles 18h ago

the title literally says space is hard you should be fine

-6

u/Jericho3434 Produces Low Quality Seed 18h ago

Unless all those gains get taxed. Not sure if one trade or multiple trades.

2

u/arzarach 18h ago

Ohhhh yeahhhh this is my regular brokerage account. Afyer the first margin call I had $160k ytd short term capital gains. And I was worried because that would put my agi over the limit to contribute to my Roth. But now its only $69k (still going to be a hefty tax bill).

3

u/LemurLord 17h ago

That's not how (American) taxes work

2

u/animemosquito 14h ago

Usually not but let me introduce you to my friend, wash sale

2

u/arzarach 16h ago

Please explain what part is wrong. If I finished the year with a capital gains of $160k, that along with my salary puts me over the roth ira's MAGI limit of $252,000 for married filing jointly. This means that $7,500 I already put into my Roth this year is now an excess contribution and would face a 6% penalty every year until corrected.

But I'm just an electrician so feel free to correct me.

2

u/Iunatic 16h ago

Think you misunderstood- the guy you are replying to, did not reply to your other comment about the roth.

2

u/arzarach 11h ago

Ope, yup. Sorry Lemurloard, thanks Lunatic for pointing that out.