my man, you have company. Last year I had over $100,000 in the markets (for me that was a lot) right around this time. Well last April there was a market drop (not as severe as this one but enough to cause problems) a couple of weeks before options expiration. I had just started playing with options that January, and had fantastic success. By the time April rolled around I was 100% in calls (all big companies that had earnings etc.). Naturally this was an idiotic thing to do in retrospect, but there I was sitting fat in mid-April 1999. By the end of the month my $100,000 had turned into literally 0! I lost everything I had. |
I have to run now, but I will add more later when I get home.
to be continued...