Hey traders,
This week, I’ve been telling you about how I became an options seller after learning some tough lessons early in my career.
On Monday, I shared why I sell options, and on Wednesday, I talked about the time I lost everything on a “sure thing” option trade.
Today, I want to tell you about one of the scariest moments that drove this lesson home — the day my co-worker Izzy collapsed flat on his face.
It was my first week working as a stockbroker, back in the 1980’s, and I noticed this guy named Izzy, who was always glued to the Quotron machine (back when you had to check stock prices on a specially built-device).
He was always smoking, biting his nails, and muttering about his trades. But then one day, out of nowhere, Izzy fainted — flat out, hit the floor face first without even bracing himself.
They hauled him out on a stretcher, and I never saw him again.
That rattled me. It wasn’t until I asked my boss that I found out Izzy had been playing a dangerous game — trading options. And like so many others, he got wiped out.
That was my wake-up call. I didn’t fully understand the risk back then, but I knew one thing: I didn’t want to end up like Izzy.
That moment — watching Izzy get carted off — stayed with me. It was yet another nudge that pushed me toward becoming a seller, not a buyer.
So take it from me, when you’re in this game, you want the odds on your side. And, in my experience, selling options is one of the best ways to do that.
Trade well,
Jack Carter
