it can still go up, but those people telling you "it will be fine" are not serious. It's a COIN toss. In fact, it's been a coin toss from the very start! (LONG/CALL) Options have unlimited upside potential, yes, options can be fun, yes (limited fraction of wealth for magnified returns) but if you are spending 40 k on options (if they are not a hedge), short-maturity, then you must be OUT OF YOUR MIND. It can work out, but sometimes it doesn't. dont cry afterwards. Next go to the casino and put 40k on red in roulette!
Spy 0dtes for the most part and maybe 1-2 earnings (likely $OPEN and maybbbeee $SHOP, might also do $MCD as well because of chipotle), but mostly spy. With spy, plan to use both webull and robinhood so I get 2 days of 3 day trades each week (can do an instant debit card transfer between each), plus 3 other days of 1 trade, so that’s a total of 9 trades. Will be aiming for at least a 15-20% return from each spy trade and hopefully 1-2 30-50% returns (plan to sell immediately if the gain goes below 10% so that I don’t end up in the red). Can usually do +10-15% from spy 0dtes pretty easily just by catching a 20-30 cent pump or dip, but the hard part is not getting greedy and knowing when to take profits. That should hopefully get me back to 5-10k within the next 2 weeks. I’ve gotten there from a few hundred dollars (sometimes even less) multiple times this year so I know it’s certainly possible. Also the beauty of spy options is that I can focus on trading from 6:30-8/9am (on the west coast) and not have to look at it for the rest of the day after locking in some profits and then focus on my tech job for the rest of the day (which of course should be the main focus but hard not to at least look at spy at least once a day knowing that there’s real money that can be made everyday from 0dtes).
I also still have a couple hundred k in long term positions which I’m not going to yolo into options, so the goal is to see how far I can rebuild from $900 and use whatever I make from that to make more yolos and meme plays. If I were to deposit even another 5k, would probably go crazy and lose it knowing I could just deposit another 5k and would probably just end up losing everything, so I think treating the $900 as everything I have left will put me in the right mindset. Been down that road multiple times and trust me it’s not fun.