My LEAPS Portfolio Update On 10 Dec 2022 (97.08% Of $343.3K Down)

In my last update on 8 Oct 22, I shared that my SGD342k (USD250k) LEAPS CALL portfolio was down by 95.14%. While the NASDAQ has rebounded a little in the month of November, my overall loss has increased to 97.1% as the time decay eats into those option contracts.

Reference Article:
My LEAPS Portfolio Update On 8 Oct 2022 (95.14% Of $342.6K Down)

I first bought all these LEAPS CALL contracts back in 2021, with most of them expiring 1.5 years to 2 years later. Back then, I thought that I was protected by the long expiration date and that there would be ample time for the stock market to recover. I was so wrong because time only gave the stock market more room to fall further and created new lows. After one full year of bear market in 2022, my CALL options are hit by both time decay (loss of time value in the contract) as well as falling stock price of once-invincible sure-win stocks like Google, Facebook (Meta), Nvidia and AMD.

The only consolation that I get is that if I were to lose 100% on this portfolio, I am still able to break even and am better off than where I was when I started investing 10 years ago in 2012 (see reference article below). However, this has not factored in the paper loss for my stock portfolio, though I do have holding power over them, provided they do not go bankrupt or permanently stay low when the market recovers.

Refernce Article:
Breaking Even On My Invested Capital (Assuming All 342k Worth Of LEAPS Contracts Expire Worthless)

Concluding Thoughts

It has been a rollercoster ride for me in this 2 years options journey (started in Feb 2021). I win big in 2021 (over 200k), only to lose even bigger in 2022. I hope by sharing all my beginner mistakes and the lessons learnt, transparently and openly, can help you in your investing/ trading journey. I hope you do not have to experience all the pain of loss that I went through but if you do, I feel sorry for your loss but know that you are not alone in this journey. As long as we do not give up, I believe the sun will rise again for us one day. All the best and take care!

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