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19 year old loses his life savings shorting copper because he thought the Olympic bronze medals being ugly would crash its price

https://old.reddit.com/r/wallstreetbets/comments/1f57hs5/update_i_lost_my_life_savings_shorting_copper_a/

								

								

UPDATE: I lost my life savings shorting copper & a naked call was assigned to me + margin called

A few weeks ago, I posted on this sub about how I shorted copper because I thought the price of it would crash due to the public backlash of how low quality the bronze metal at the Olympics was. I thought it was an intelligent investment decision and not a gamble (because bronze is composed of about 88% copper) but I got thousands of comments and dms telling me about how dumb my analysis was and that I should sell immediately and quit options.

At first I didn't really listen to these ppl because I was up a little bit on my positions, but then copper started mooning in price and i was down thousands out of nowhere, so I doubled down on my position thinking there was no way it could go higher and I took out some margin and bought more puts on a different strike price to average down, but it kept going higher. Currently I'm down about -$8.5k on my shorts.

Since I only had about $400 of cash in my account left I decided to play around with 0DTE SPY options, I made a little money back initially, but then I woke up today and checked my account and somehow there was a naked call in my account that I didn't even buy, I was only trading long calls and puts but somehow it was in my portfolio and said that i needed to buy 100 shares of SPY as collateral immediately before it closes. I have no idea how this got there, I tried switching to a cash account but it said I had to close my margin positions first, so as the market closed, it automatically bought 100 shares of SPY and now I owe $56k to my brokerage. Im only 19 and essentially my life is ruined and I have no idea what to do or how I can ever repay this, I haven't even told my mom or dad.

https://preview.redd.it/fn0sfwybjvld1.png?width=2876&format=png&auto=webp&s=44426c7724c4bc2ed8e332dbf1586ed001a20ea2

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>He shouldn't be responsible he's only 19

Andrew Jackson was admitted to the NC Bar at 20 after having been a POW in the revolutionary war. He also fought his first duel. Was a US Senator at 30

Andrew and Robert were captured in April 1781 when the British occupied the home of a Crawford relative. A British officer demanded to have his boots polished. Andrew refused, and the officer slashed him with a sword, leaving him with scars on his left hand and head. Robert also refused and was struck a blow on the head.[14] The brothers were taken to a prisoner-of-war camp in Camden, South Carolina, where they became malnourished and contracted smallpox.[15] In late spring, the brothers were released to their mother in a prisoner exchange.[16] Robert died two days after arriving home, but Elizabeth was able to nurse Andrew back to health.[17] Once he recovered, Elizabeth volunteered to nurse American prisoners of war housed in British prison ships in the harbor of Charleston, South Carolina.[18] She contracted cholera and died soon afterwards.[19] The war made Jackson an orphan at age 14[20] and increased his hatred for the values he associated with Britain, in particular aristocracy and political privilege.[21]

19 is a military aged male, if you were walking around with a shovel in Iraq you'd get dropped.

---But seriously why the frick would they let anyone get that deep in the hole?

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