TL;DR
A Redditor claims to have made a 19x return on 0DTE SPY options in 5 days. It’s likely luck, not skill, and a recipe for disaster if repeated.
Story
Someone claims to have turned $10,000 into $195,000 in just five days trading 0DTE (zero days to expiry) SPY options. Sounds too good to be true? It probably is.
This “success” story reeks of reckless gambling, not investing. Think of it like playing roulette and betting everything on black five times in a row and winning. Sure, it could happen, but the odds are astronomical. This isn’t skill; it’s dumb luck.
‣ 0DTE Options: Contracts that expire on the same day they’re bought, magnifying potential gains and losses. These are incredibly risky because even small market swings can wipe you out.
‣ SPY Options: Contracts based on the S&P 500, a collection of 500 large US companies. While generally considered more stable than individual stocks, leveraging them with 0DTE options is like playing with fire. Remember the 2008 crash? Over-leveraged bets fueled that collapse.
The “$10k to $195k” narrative conveniently ignores the high probability of losing everything. It’s the same psychology that fuels lottery tickets and pyramid schemes—the lure of a quick buck without appreciating the near-certain risks. If this person continues this strategy, they’re likely to join the long list of those whose fortunes vanished as fast as they appeared. This isn’t a “how-to” guide; it’s a cautionary tale. Enron executives once boasted similar returns… right before their world imploded.
The comments under this story reveal some understanding of the risks, calls for tax planning, and even accusations of fakery. This skepticism is healthy. Always treat extraordinary claims with extraordinary skepticism, especially in the financial world.
Advice
Don’t mistake gambling for investing. 0DTE options are incredibly risky and can lead to rapid losses. Focus on long-term strategies, diversification, and thoroughly research any investment before committing your money.
Source
https://www.reddit.com/r/wallstreetbets/comments/1igu1eg/10k_to_195k_in_3_trading_sessions/