My investing buddy shared with me the tragic story of a Millennial who recently committed suicide after he thought he had lost more than seven hundred thousand dollars through options trading. You can read the article [
here].
20-year-old Alexander E. Kearns was a University of Nebraska student home from college and staying at his parents' place. In the midst of the pandemic, he started to learn stock investing. He had opened an account with the popular brokerage firm Robinhood Markets.
Alexander proceeded on to trade stock options in the market. According to Forbes, Alexander fell into a despair late Thursday night after he looked at his Robinhood app and found he had a negative cash balance of US$730,165.72.
There was not much details on how the huge deficit came about, but it was suspected that Alexander was trading bull put spreads....