Doubling Returns Every Month in Options Trading
So here goes. My best friend from college and I have had a very similar career path. We both interned at the same financial institution, both eventually landed in consulting at Tier 2 firms, and both had expressed interest to pursue the MBA route to re-brand ourselves and move from 'tech consulting' to either strategy consulting or banking.
We have sort of pushed each other every step of the way however for the past year or so, he's been focusing entirely on Options Trading. He's stopped caring as much about work or pushing himself out of his comfort zone (example: taking an easy long-term federal project so he has more free time, is out at 5 everyday, etc.). As his friend, I've advised him strongly against spending his 20's just relaxing on a federal client especially when I have enough connections at his firm to help him get onto a commercial project or potentially even bring him into my current firm.
He insists that I'm too focused on the MBA route and missing the big picture. While I've been taking financial modelling, finance, and strategy classes to help get myself onto a strategy/finance project at Deloitte, he's been reading about options trading and buying options, mainly following the QQQ fund and following price movements to guide his purchase decisions.
Recently, he's expressed his goal to put in 5K, and double it every month for a year. Personally, I think this is ridiculous and he could spend this time prepping for the GMAT. Please tell me if I'm completely off base here. From what little I understand about trading, its exponentially difficult to 'double your money every month for a year'.
We had the same exact starting point and while I've not quite managed to get to where I want to be yet, I've worked with almost a dozen fortune 500 companies in the same span of time he's been on the same federal client. What hurts me is that he could have too, if he wasn't so comfortable. Is he wasting his time? Or will he double that 5k every month in options to the tune of 4 million a year from now? (if he can, I'd be happy for him). I'm just concerned that if it doesn't materialize, he'd have lost time/money.