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Bought it in 2011 or 2012

By: Java

For the equivalent of about $35-$40 a share. Did it because I thought their cogs was low with them taking 30% for such a click. No inventory. Just middleman and all those songs and movies. Looked like easy money. They controlled their own universe. I’ll tel the full story one day. The stock split 7 for one a few years ago and now 4 for one. Oh. The other attraction for me Was that it was a tech stock I felt. But was priced like a utility. No joke. They were selling at a PE of 11-13. I kept thinking maybe analysts thought profit was going down. I bought about $200,000 worth. Then a couple years later. Maybe 2014-2015? I sold about 20 puts. So that’s 2,000 shares. Said id buy that many at $100 a share. It was $110 at the time. Al I wanted was to pocket my $5,000 of put money. In fact I don’t even think I had $200k cash I’m the account. No problem it wasn’t going down. Except it did. It went quickly to $103. Them $100 then $90 And I learned for the first time that people can execute Those little orders before the strike date. Suddenly people are making me buy apple at $100 and its $90 and I’m losing $10 a share. I’m Panicking. I don’t know what I know now about rolling it forward. Buying it out and resell it later or doubling down for a lower fee. All I know is that I am stuck buying $90 apple for $100 and I instantly am under water here by $20,000. Worse. Since I didn’t have the cash it was martin and they’re charging me fees and interest for it. That went on for a couple months and eventually I sold enough other stuff or got dividends To not be on margin for it. I was embarrassed. Humiliated and felt like a total amateur. Swore I would never spend money ey I don’t have again. Oddly I never did sell those shares. And that painful story I just wrote sounds laughable now. Obviously the stock I was forced to buy at $100 has quadrupled in 5 years. Obviously the $200k I originally invested at $30-$40 is worth 10 times that I’m the last decade. I tell you the full story to show that brilliant as I may have been with the first move. I was still an amateur. And a scared little rabbit on the second. And my making all that money was totally in spite of myself. If I knew what I was doing I’d have rolled out of the put and kept my $5,000. Instead I lost $20k monies the $5,000. So I lost $15,000. Paid interest. Had margin and wake up 5 years later having made about $600k on that total accident. It is way better to be lucky than good.
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