I will be messaging you in 1 month on [**2023-04-22 00:00:00 UTC**](http://www.wolframalpha.com/input/?i=2023-04-22%2000:00:00%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/wallstreetbets/comments/11fb95d/80k_life_savings_spy_put_yolo/jalvxik/?context=3)
[**4 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2Fwallstreetbets%2Fcomments%2F11fb95d%2F80k_life_savings_spy_put_yolo%2Fjalvxik%2F%5D%0A%0ARemindMe%21%202023-04-22%2000%3A00%3A00%20UTC) to send a PM to also be reminded and to reduce spam.
^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%2011fb95d)
*****
|[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)|
|-|-|-|-|
You couldn't have waited until the second interest rate increase (after the March) that will happen in June?
I agree with your thesis. But your leaving a few months of bone crushing declines on the table...in my view.
Good luck.
I saw volume and pivot collapse yesterday so I had no way of telling if the market would leg down 0.5 or 4.0 by the end of the week. Agree I could have left money on the table.
You can choose to live your life the way you want to. But the key to financial safety regardless of dependents is to not gamble and pick smarter safer plays. A simple mutual or index fund following the NASDAQ/S&P or otherwise market as a whole over a broad 20-30 year horizon will be almost gurranteed to best any hobby trader day trading high risk strategies over the same horizon. IE) would you slowly build up a bear guaranteed $1-3 million over your lifetime or have a small chance at making more instantly, but also never being able to retire cause you lost it all and now live paycheck to paycheck?
I thought that too until I ran the numbers. I am 40 with a negative net worth and a baby on the way. I need to take some serious risks or I will die destitute.
The only way to become rich slowly is to have a lot of money to save. To make a million in 20 years you need to save $2k/month. In my best months I can save maybe $200.
My dude gambling on stocks is not the way if you're already on that tight of a budget. You're just going to fuck yourself. Save your $200 a month. I save $2K a month and I don't fuck with options. The guys you see get rich here got insanely lucky and made usually absolutely moronic plays to have that happen. For every 1 of those there are 500,000 who lost.
Most expensive part of kids is daycare and doctors. If you have childcare you can figure out for cheap, that's like 90% of the cost of a kid. They eat hardly anything for the first few years and their clothes cost hardly anything.
I know, but I need to take a chance. I've already lost $26k in the last year. But If I could save $2k a month I would be gambling either.
My wife doesn't work, which is partly why we can't save.
So have money in the bank as Iām old, single and alone? Who fucking cares at that point? This is a narrative for a different time and an America that doesnāt exist anymore and never will again.
Ehh I wish you the best of luck then. But gambling and investing are two very different mindsets. And Iām afraid you might have the be thinking the later is the same as the former
I had calls as wellā¦ but sold when my thesis of a retest to 403 didnāt work out. Still think thereās a chance a spike to 403 will happen, but in the long run my PUTās will print.
I saw it and agree. But thatās literally the last support besides daily pivot lines. Not only that, MACD on a 3 year chart is about to cross over at 0. The only other bullish sign I could find was RSI on the 3 year chart still technically at an incline.
What Iāve come to realize is you canāt teach anyone to read TA the same way. Everyone has to learn the tools and see their own patterns play out to get used to the markets behavior in the way they understand it.
I thought SPX was going to rally to 4030, but the price and volume collapsed hard yesterday. Didnāt want to miss out on the leg down. Still feel like I could see some momentary pain with a swing up towards my original thesis.
Itāll probably print but lots of bullish divergences forming. And daily bullish engulfing candle today . This could rip up to the .618 fib level maybe higher I got a couple trendline as Iām watching but by April yeah should be golden. Iāll be watching to see if I can get these cheaper than you. Remindme! 4d
With SPY breaking so aggressively past a yearly pivot, Iām pretty sure weāre headed to 412. Still confident the price will crash back down, especially when JPow puts the smack down. .50 is on the table.
Short term bond yield are at 5%. Do you really think institutional investors are going to stay in stocks? They let retail pump the market, now theyāre rug pulling and leaving you all with the bag.
you have time for this to play out, macro news starting to set in. not sure what your daily theta is, but iād close the position before the 30 day mark. the contracts will start to rapidly decay when below the 1 month period. god speed
Iām obviously regarded, but my understanding is theta really only effects extrinsic value and the more ITM you are, the less IV you have anyways, so as long as I stay ITM I should be ok.
Yes, but it's not an either/or scenario. If you're $1 ITM, it's not like you suffer zero theta. The deeper ITM you get, the less of the premium is extrinsic. But obviously those options are much more expensive to begin with.
https://preview.redd.it/tfv3did0z9la1.png?width=1170&format=png&auto=webp&v=enabled&s=7bc69364efeb4ad8918b90793ed4c38344b7ee50
VWAP came down and is basing around 395, a key resistance level. For bulls, this is a big area to test and try to break through tomorrow. Kill two birds with one stone.
Also, we havent tested the 200day MA yet. It is literally right on the cusp. With 5 and 50 day converging, itās going to be a big moment for how weāll trend for in next weeks.
We are literally sandwiched between 50 and 200ma. I think the safer play would have been to wait until after Jpow, and then buy a 30dte.
I play 0-14dtes, so my approach is a bit different, but im guessing bulls will claim 50ma, and we rally a bit until jpow in late march.
Thatās my thought bro. I had a single bullish call opposite of this bet that kept failing levels. When I realized yesterday what was happening, went all in.
I am a bot from /r/wallstreetbets. You submitted a Gain/Loss/YOLO that didn't look like it included a minimum of a $5k options or $10k shares position. Please read the rules. This check will fire if you included unnecessary pictures that don't show positions. Repost with the useless pictures omitted if you did that.
Hey, if you haven't already, please reply to this comment with your positions and what led you to enter or exit them!
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
My calls are saved hallelujah š
Name checks out.
I see yāallās battle and weāll see tomorrowās winner good night may the better man win
!remindme April 22
I will be messaging you in 1 month on [**2023-04-22 00:00:00 UTC**](http://www.wolframalpha.com/input/?i=2023-04-22%2000:00:00%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/wallstreetbets/comments/11fb95d/80k_life_savings_spy_put_yolo/jalvxik/?context=3) [**4 OTHERS CLICKED THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2Fwallstreetbets%2Fcomments%2F11fb95d%2F80k_life_savings_spy_put_yolo%2Fjalvxik%2F%5D%0A%0ARemindMe%21%202023-04-22%2000%3A00%3A00%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%2011fb95d) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-|
You couldn't have waited until the second interest rate increase (after the March) that will happen in June? I agree with your thesis. But your leaving a few months of bone crushing declines on the table...in my view. Good luck.
That's way too smart. I like OP's decision to disregard all upcoming future events. My crayons say SPY will move right, so this should work out.
Bet the market would move left because of your comment regard
I saw volume and pivot collapse yesterday so I had no way of telling if the market would leg down 0.5 or 4.0 by the end of the week. Agree I could have left money on the table.
Bro yes hold out until next CPI and interest rate decision. This is gonna print š³ļøāšš»š³ļøāš
šš»
I just sold you those puts my man
Flat for a year is probably where the money is
You ready to bag hold?
You mean just hold SPY...? It's basically a retirement play little man
You mean in 10 years when your bags become valuable again? Thanks for providing for my lambo 
You're a complete shithead arent you?
His existence is the unwelcomed truth
The best way to get rich quick is to get rich slow. And you, my friend, are not trying to get rich slow
Iām a single guy with no wife and kids. Why do I need to worry about doing anything slow?
You can choose to live your life the way you want to. But the key to financial safety regardless of dependents is to not gamble and pick smarter safer plays. A simple mutual or index fund following the NASDAQ/S&P or otherwise market as a whole over a broad 20-30 year horizon will be almost gurranteed to best any hobby trader day trading high risk strategies over the same horizon. IE) would you slowly build up a bear guaranteed $1-3 million over your lifetime or have a small chance at making more instantly, but also never being able to retire cause you lost it all and now live paycheck to paycheck?
I thought that too until I ran the numbers. I am 40 with a negative net worth and a baby on the way. I need to take some serious risks or I will die destitute. The only way to become rich slowly is to have a lot of money to save. To make a million in 20 years you need to save $2k/month. In my best months I can save maybe $200.
My dude gambling on stocks is not the way if you're already on that tight of a budget. You're just going to fuck yourself. Save your $200 a month. I save $2K a month and I don't fuck with options. The guys you see get rich here got insanely lucky and made usually absolutely moronic plays to have that happen. For every 1 of those there are 500,000 who lost. Most expensive part of kids is daycare and doctors. If you have childcare you can figure out for cheap, that's like 90% of the cost of a kid. They eat hardly anything for the first few years and their clothes cost hardly anything.
I know, but I need to take a chance. I've already lost $26k in the last year. But If I could save $2k a month I would be gambling either. My wife doesn't work, which is partly why we can't save.
So have money in the bank as Iām old, single and alone? Who fucking cares at that point? This is a narrative for a different time and an America that doesnāt exist anymore and never will again.
Ehh I wish you the best of luck then. But gambling and investing are two very different mindsets. And Iām afraid you might have the be thinking the later is the same as the former
No, thereās no confusion Iām gambling.
Do you have any spare lives by chance?
I went long today one of us will make money
I had calls as wellā¦ but sold when my thesis of a retest to 403 didnāt work out. Still think thereās a chance a spike to 403 will happen, but in the long run my PUTās will print.
Idk youāre buying early support on the 200 although barely still held
I saw it and agree. But thatās literally the last support besides daily pivot lines. Not only that, MACD on a 3 year chart is about to cross over at 0. The only other bullish sign I could find was RSI on the 3 year chart still technically at an incline.
Does any of this really matter? Can't you find as many bullish and bearish indicators as you want over any given time frame?
What Iāve come to realize is you canāt teach anyone to read TA the same way. Everyone has to learn the tools and see their own patterns play out to get used to the markets behavior in the way they understand it.
Nothing feels good about this market op. But you got a 50 percent chance why not go to vegas
Vegas will be after SPY goes to 380 
Double it and give it to the next person.
That's literally JPow's strategy
Wait until we rally for a bit This is most dangerous (read : bullish) part of opex cycle for a burry
I thought SPX was going to rally to 4030, but the price and volume collapsed hard yesterday. Didnāt want to miss out on the leg down. Still feel like I could see some momentary pain with a swing up towards my original thesis.
These will print
Wow please tell me you sold
Nope, following down to 380.
God speed regard o7
Itāll probably print but lots of bullish divergences forming. And daily bullish engulfing candle today . This could rip up to the .618 fib level maybe higher I got a couple trendline as Iām watching but by April yeah should be golden. Iāll be watching to see if I can get these cheaper than you. Remindme! 4d
With SPY breaking so aggressively past a yearly pivot, Iām pretty sure weāre headed to 412. Still confident the price will crash back down, especially when JPow puts the smack down. .50 is on the table.
With ya there brother 412 is right around the .618 fib level
Nice. $380 SPY Puts 04/21 exp over here :)
Brotherā¦ yes, 380 or bust!!
I sold you those lol
We will see in time my friend! Averaging down currently
Congrats and fuck you
I have a feeling these will print
once yields reverse these puts will be worth zer0. March seasonality is extremely bullish. GL, ur really gon need it.
Short term bond yield are at 5%. Do you really think institutional investors are going to stay in stocks? They let retail pump the market, now theyāre rug pulling and leaving you all with the bag.
Best comment you've made on here so far. 5% guaranteed for them.
Do yourself a favor and apply for cash-settled SPX
Good call. Uncle Sam definitely wants these incoming gainz.
you have time for this to play out, macro news starting to set in. not sure what your daily theta is, but iād close the position before the 30 day mark. the contracts will start to rapidly decay when below the 1 month period. god speed
Iām obviously regarded, but my understanding is theta really only effects extrinsic value and the more ITM you are, the less IV you have anyways, so as long as I stay ITM I should be ok.
Is this true?
Yes, but it's not an either/or scenario. If you're $1 ITM, it's not like you suffer zero theta. The deeper ITM you get, the less of the premium is extrinsic. But obviously those options are much more expensive to begin with.
Smart, calendar spread at the money. These will make money. Remember "No one ever went broke from taking profit"!
https://preview.redd.it/tfv3did0z9la1.png?width=1170&format=png&auto=webp&v=enabled&s=7bc69364efeb4ad8918b90793ed4c38344b7ee50 VWAP came down and is basing around 395, a key resistance level. For bulls, this is a big area to test and try to break through tomorrow. Kill two birds with one stone. Also, we havent tested the 200day MA yet. It is literally right on the cusp. With 5 and 50 day converging, itās going to be a big moment for how weāll trend for in next weeks. We are literally sandwiched between 50 and 200ma. I think the safer play would have been to wait until after Jpow, and then buy a 30dte. I play 0-14dtes, so my approach is a bit different, but im guessing bulls will claim 50ma, and we rally a bit until jpow in late march.
SPY broke below SMA in after hours. Tomorrow is going to be red!
I dont think it did bro
Youāre right, it just touched againā¦bullish =[
Okay good now Iām gonna buy calls, Iāve been waiting for a sign
Bet these will keep printing slowly every couple of days
Thatās my thought bro. I had a single bullish call opposite of this bet that kept failing levels. When I realized yesterday what was happening, went all in.
bear crew
I also wanna go balls deep on bear spreads. Thank you for the financial advice.... Wife will be thrilled!
I donāt know if this is as much advice as degeneracy on display. Good luck fellow šš»
I agree with you OP. SPY puts looking juicy
 Iām pleased
My cajones have shriveled these past few months but seeing your leadership I might join you for one more bear ride into Valhalla
nioce
I am a bot from /r/wallstreetbets. You submitted a Gain/Loss/YOLO that didn't look like it included a minimum of a $5k options or $10k shares position. Please read the rules. This check will fire if you included unnecessary pictures that don't show positions. Repost with the useless pictures omitted if you did that.
This is incorrect!!
Picture only showed the $3,580 so it took that as your position
Hey, if you haven't already, please reply to this comment with your positions and what led you to enter or exit them! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
Following this
Sell
Nope! Not til 380.
damn you could have sold, taken profit, and bought the same puts for cheaper
Itās true bro.
Iād just full port sQQQ shares instead 3x leveraged against QQQ and not theta decay. Or Atleast done 30k puts and 50k shares
Should have waited a couple months. The spy just doesnāt want to die.
Thatās actually why I did this. It is finally dying, at least from what I can see.
Powell will take all your money.
You risked $80k life savings for $3k gains? Should've just bought shares and let it ride and grow.
Well, at this point itās not 3k anymore šš¤š¼
Congrats
Thesis is checking out so far 
And now?
Same. As I mentioned in other threads, I expected a possible retest up to 403.
You regards are ruining the stock market. This is why we canāt have nice things.
Depends on which end of the trade youāre on 
Call it is
How much are these up now??
!remindme 2 weeks
Bruh, you literally bought Puts on the bottom of the down trend and then SPY shot up for 3 days straight. 
I didnāt hear no bell.
True.
Did you sell?
I did.