It happens. I played all the tech guys (META, AMZN, GOOG, MSFT) with CC's on most. Ended up making an "alright" profit of \~9% on the plays. Took it fairly conservatively tho.
I’m very confused tho… shouldn’t that mean that he should be fine? Like he only lost 244 dollars really, right? (I’m new to stocks and ignorant pls don’t bully me)
Well even tho this is WSB and your question is definitely better placed on r/investing I’ll give a tip. First of all I have no idea what you did wrong since you’re legit showing nothing, but based on the loss amount this can either be options or you placing all your money in one stock. First, if you actually want to invest and not lose all your money don’t touch options, second if you’re investing, diversifying is a must. If you suck at investing, and don’t want to visit the rest of the Reddit behind Wendy’s dumpsters then I suggest just investing in s&p 500 and forgetting about it.
Edit: if people call you a regard stop getting offended this is WSB, you posted losses full knowing what this place is.
Selling deep ITM spreads makes no practical sense. You get the same result selling far OTM spreads of the opposite direction.
Way less risk of assignment and getting dicked on by interest on those shares
All in all you didn’t lose much cuz hood has really cheap interest. If it was Schwab ud lose thousands
PS- sniping these for 0.01 is indeed a good deal tho, theoretically.