'Buried under ₹70 lakh debt': How a family’s ‘success kid’ got trapped in F&O trading
In a detailed thread, Gupta wrote that his cousin was once the “success kid” of the family — a Tier-1 B.Tech and MBA graduate who landed a ₹12 lakh-a-year job in 2013, bought a house, and moved his parents in. “Everyone was proud,” he said.
- Feb 5, 2026,
- Updated Feb 5, 2026 3:09 PM IST
At a time when the Budget 2026 proposal to hike Securities Transaction Tax (STT) on futures and options (F&O) trading has sparked sharp debate, a fresh cautionary tale from social media has once again put the spotlight on the risks of retail derivatives trading.
An X user, Nihal Gupta, has claimed that his “smartest cousin” lost everything after getting hooked on options trading, eventually slipping into a ₹70 lakh debt trap. The post, which has gained traction on the platform, narrates how what began as a promising career spiralled into financial distress over a decade.
In a detailed thread, Gupta wrote that his cousin was once the “success kid” of the family — a Tier-1 B.Tech and MBA graduate who landed a ₹12 lakh-a-year job in 2013, bought a house, and moved his parents in. “Everyone was proud,” he said.
According to Gupta, the trouble began when his cousin discovered options trading. Initial profits led to larger bets, which soon turned into mounting losses. “Then came the thinking: ‘Just need to recover once’,” he wrote.
The situation worsened after his cousin quit his job to trade full-time. Personal loans were taken, the home loan was increased, and trading continued in search of a comeback that never materialised. Over nearly 10 years, Gupta claimed, the losses in F&O trading crossed ₹1 crore.
Today, the cousin is 35, unmarried, working at a bank for ₹17 lakh per annum, and struggling with ₹70 lakh in debt. “He may even have to sell his house to survive,” Gupta wrote.
The post ends with a stark warning: “In markets, intelligence is not an edge. Discipline is. Overconfidence destroyed what talent built.”
At a time when the Budget 2026 proposal to hike Securities Transaction Tax (STT) on futures and options (F&O) trading has sparked sharp debate, a fresh cautionary tale from social media has once again put the spotlight on the risks of retail derivatives trading.
An X user, Nihal Gupta, has claimed that his “smartest cousin” lost everything after getting hooked on options trading, eventually slipping into a ₹70 lakh debt trap. The post, which has gained traction on the platform, narrates how what began as a promising career spiralled into financial distress over a decade.
In a detailed thread, Gupta wrote that his cousin was once the “success kid” of the family — a Tier-1 B.Tech and MBA graduate who landed a ₹12 lakh-a-year job in 2013, bought a house, and moved his parents in. “Everyone was proud,” he said.
According to Gupta, the trouble began when his cousin discovered options trading. Initial profits led to larger bets, which soon turned into mounting losses. “Then came the thinking: ‘Just need to recover once’,” he wrote.
The situation worsened after his cousin quit his job to trade full-time. Personal loans were taken, the home loan was increased, and trading continued in search of a comeback that never materialised. Over nearly 10 years, Gupta claimed, the losses in F&O trading crossed ₹1 crore.
Today, the cousin is 35, unmarried, working at a bank for ₹17 lakh per annum, and struggling with ₹70 lakh in debt. “He may even have to sell his house to survive,” Gupta wrote.
The post ends with a stark warning: “In markets, intelligence is not an edge. Discipline is. Overconfidence destroyed what talent built.”