Only a naive investor would rush into options without knowing anything.

The U.S. stock market has been volatile recently, and some people around me made money with options a while ago. Now, some reckless newbies are rushing in headfirst. Having been in the U.S. stock market for over a decade, I've seen countless beginners charge into the options battlefield with a gambler's mentality, each fantasizing about being the undiscovered 'God of Trading.' The initial taste of profit, with its adrenaline-fueled illusion, makes people believe they've cracked the wealth code. But the market's cruelty often strikes without warning—continuous margin calls after misjudging the direction can cause account funds to collapse like an avalanche. A seven-figure account built with hard-earned cash might turn into a cold zero on the screen after just three bearish candles. The stop-loss discipline from textbooks often becomes a joke in live trading: when losses snowball, the brain can't process the complex signals of fear and greed fast enough, and fingers mechanically click the 'add position' button until the margin call pops up, leaving no time for regret.

The root of this devastating blow lies in how options magnify human weaknesses a thousandfold. Losers always want to turn things around on the same battlefield, doubling down on familiar assets, but the result is often escalating from a $100K loss to a million-dollar debt. Those who consistently profit in the options market are never the retail traders who boast about their 'market instincts' but institutional players with rigorous risk control systems and algorithms to counter human volatility. For ordinary investors, those short-term profit myths are more like sugar-coated arsenic—you might pick up some loose change by luck, but the greater probability is being wiped out in a black swan event.

Veterans who've experienced multiple margin calls understand that protecting capital isn't about technical analysis but resisting the urge to open positions. When you treat long calls and long puts as chips for a comeback, you've essentially become a dopamine-driven gambler. The self-hypnosis of 'one last bet' will only drag you deeper into the quagmire. Instead of agonizing over the countdown to expiration, face reality early: hedging with underlying stocks at least preserves a chance for recovery, and building wealth through real estate is far more reliable than gambling on out-of-the-money options. The market never gives gamblers a second chance, but ETFs, bonds, and even real industries always welcome rational investors.

The most dangerous moment often comes after consecutive losses—the last $50K in the account, under the influence of adrenaline, is seen as 'must-win' gambling capital rather than life-saving money. This revenge-trading mentality is like trying to extinguish a wildfire with gasoline. Truly smart investors know that admitting failure sometimes takes more courage than persisting in mistakes. If you get battered in the options market in your twenties, there's still time to pivot to value investing and start over. But if you're still chasing get-rich-quick dreams with leverage in your forties, one margin call could wipe out half a lifetime's savings. Remember Wall Street's simplest truth: survivors aren't the best attackers but those who know when to retreat.

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