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Podcast: My Worst Investment Ever Podcast
Episode: Rizwan Memon - Have Enough Liquidity When Shorting Naked Calls
Description: BIO: Rizwan Memon is the Founder and President of Riz International, a Canada-based financial education firm that helps thousands worldwide maximize their financial success through trading.STORY: Rizwan shorted GameStop’s stock, believing the price wouldn’t exceed $300. However, when Elon Musk tweeted about GameStop, the price increased to $500. Rizwan suffered a $160,000 loss on a single trade.LEARNING: When shorting naked calls, make sure you have enough liquidity. Control the amount of money you bet on any particular position. Don’t trade on emotions. “Sometimes the math, the probabilities—everything—can make sense, and yo...