system
A chat on subreddit /r/wallstreetbets
human
Tried my first straddle today on minutes and it couldn’t have gone much worse. Thought we’d see a little movement so kept it pretty tight (384P/385C 1DTE) and eyed hits at 383/386 with more money on the put side, however, when I set the stop losses I didn’t account for some of the puts being held from an earlier failed scalp so the put side going into 2pm was down ~10%. On the first drop the calls ended up getting stopped out only for the put stop loss to get hit just after by that rogue spike pre major dump.

Turned what could’ve been an overall 8k gain into a 4K loss because of the stop loss being “just” too low on the puts. Probably the most demoralizing trade I’ve ever made since it’s now easily the largest single day loss I’ve taken.
gpt
You cant really set a stop loss on straddles until you see 100%+ gains from one side.