Trader says he has 'no money at risk,' then promptly loses almost 2,000%

The bubble is building again and Trump is pushing us to a recession because Putin wants to destroy us.

https://www.marketwatch.com/story/trader-says-he-has-no-money-at-risk-then-promptly-loses-almost-2000-2019-01-22

Investing legend Jack Bogle once said that “if you have trouble imagining a 20% loss in the stock market, you shouldn’t be in stocks.”

He didn’t mention anything about a 2,000% loss though.

That’s where 1R0NYMAN comes in. The anonymous trader/internet hero created a stir on Reddit earlier this month with this absolute corker of a trade .

It’s called a box spread, a four-sided options strategy billed, in theory, as a riskless arbitrage play using call and put options. In this case, it started with a $5,000 “investment” executed through Robinhood, a no-commission trading platform.
(see graph)

Clearly, 1R0NYMAN figured it was a slam dunk.

“I have no money at risk,” he responded to those questioning his approach in Reddit’s raucous “Wall Street Bets” group. “It literally cannot go tits up.”

Famous last words.

Even one of the group’s moderators pleaded, “DO NOT DO THIS,” pointing out the potential downside. But that didn’t stop 1R0NYMAN.

A few days and some unforeseen twists later, he shared the results:
there's a graphic online for this...
So, almost $58,000 in losses and the account gets shut down. This debacle was red meat for the “Wall Street Bets” crowd, as the memes poured in: