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Qualcomm brought a lot of money back to investors this week when its stock jumped on the words of the long-awaited settlement of the chip maker with Apple.
An Australian options trader was not one of those investors.
"Arminoxx" – his internet name – shared his "terrible nightmare" with more than 343,000 merchants on Reddit's "Stocks" chart. "I just made the stupidest decision of my life and I really can not justify it to myself or anyone I know," he said.
"I am so disgusted with myself and I do not know what to do to feel better."
Earlier this year, Arminoxx determined that the excessive pressure exerted by Apple
AAPL, + 1.85%
case kept Qualcomm
QCOM, + 12.82%
stock in control and leaving dumped options So he says he made a small investment: he took a flyer on 75 April 18 purchase options with a strike price of 65 for a penny.
Then, this week, he unloaded them – at a loss! – just before the news item; a timing failure with epic proportions. "I live in Australia and I sleep mostly during American trading hours," he said. "However, I woke up at 4 am and decided to place a limited sale order of $ 0.06 on my options to save my losses, since there were only 2 days until the expiration, and I went back to sleep. "
Ouch. Arminoxx, in a self-flogging exercise, calculated what he would have done had he slept all night: $ 50,000, a gain of 6,000%.
What was he doing at this hour anyway?
"It was a very emotional decision at 4 in the morning with a baby crying (where I woke up) that led me to place this order," he said. "Two more hours, and it would have been a different holiday. I am so disgusted with myself and I do not know what to do to feel better. "
As you can see from this graph, the situation has only got worse:
While some have understood by remembering their own crafts – Disney
DIS + 1.17%
FB -0.12%
, MoviePass
HMNY, -2.38%
etc. – others simply tried to dissuade him from accepting it with the advice that any trader could use.
"The missed winnings are absolutely brutal, and sometimes it takes a lot of time. But you will get there, and if you have found this opportunity, you will find others, "said one of them. "Just keep doing what works and you'll be a successful trader. Maybe one day, $ 50,000 will not seem to be that much money anymore. "
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