Option Millionaires

[MNYC]

"I've been trading options for 20 years. Nothing is 100% sure, but once I saw it test the lows twice, and go higher I assumed it was going to close at $124+..."

You have 20 years experience and you buy Out-of-Money Options expiring today with $70k? And you lose $200k in past 3 weeks without trading intra-day Deep-In-Money Calls/ Puts with such big $ but insist Santa would show up for sure?

How can you want to assume SPY would close 124 today when you have seen how schizophrenic markets can be lately?

There was no sign that said SPY is going to close 124. It can always gap up in the morning and dip right away or vice versa.

Obviously there's no problem with going in with so much $... BUT if you are prepared to lose it and know that it is a possibility, especially with Options expiring today. In your case you blamed the markets and said they scammed you.

If you're experienced trader you rarely buy anything at the open. Unless you see a chart/ bigger picture of a stock and see all T/A and conditions that point to a direction/ your favor.

And earlier you said you're never gonna trade Options again. So after 20 years of experience you decide to give up on Options now?