LONDON/NEW YORK : In May, San Diego-based Emily was feeling flush from a year of double-digit gains earned from trading stocks. Equity options, which some fellow stay-at-home investors were dabbling in, would juice up her returns, she decided.
"I was on the phone with TD Ameritrade's margin team, telling them to give me more time ... but it was either I sell it or they sell it," she said. Eventually, she said she liquidated her portfolio, losing US$670,000. Her account is a cautionary tale of what can happen when booming markets tempt inexperienced investors to risk it all.
"Everyone can get their bit of the pie," said Ben Phillips, a 30-year old London-based pilot who started trading in 2019. He calls himself a long-term investor, but also day trades"as a bit of fun, a bit of gambling". They also account for up to half the trading in single-stock options - wagers on individual shares - according to JPMorgan. That in turn took such options' share of total option volumes to a record high this year, Reuters analysis of Trade Alert data shows.
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