A 19-year-old trader lost $64,500 

A Reddit user reported that he lost his entire life savings while trading copper and S&P 500 options.

It all started with a short position in copper, which the guy decided to open after criticizing bronze medals (bronze is 88% copper) at the Paris Olympics. He lost $8500 on that one.

After the incident, he was left with $400, with which he decided to trade S&P 500 overnight options. When the trader woke up the next day, he found he had a requirement to buy 100 shares of SPY, and he owed his broker $56,000.