#options #futures #derivatives #putspread #robinhood #tradingapps #markets #risk #stockmarket
Today I will go over a sad story about a young man who took his life because of a misunderstanding about options trading in his Robin Hood trading app or brokerage account.
I will talk about my experience as a futures and options broker in the City of London and why it is so important that people learn about trading and especially about trading with leverage or with derivatives.
"20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative Balance": https://www.forbes.com/sites/sergeiklebnikov/2020/06/17/20-year-old-robinhood-customer-commits-suicide-after-seeing-a-730000-negative-balance/#1bba3dfc5928
Dr Vernon Coleman's YouTube channel: https://www.youtube.com/channel/UCd6F39mg7LPUkw1BfiJDibw/about
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I was wondering what happened there when I heard of the story the other day. How could he have been so far under without margin? I have traded options with money that I was comfortable losing and yes it is complicated. A big factor in the loses is the decay feature in out of money setups. Anyway thanks for the great explanation on what you think happened in that particular case.