90% of option traders lose money

Even people who are highly knowledgeable about the financial markets and work in the industry do poorly. There is evidence all over the place that losing money in options is normal and "everyone in the know knows it".

I never got good at options trading, but I never encountered anyone else who was good at it, either. Some people admitted that they lost money overall, while others, although they spoke readily of their wins, were evasive about losses and totals. This was less surprising when I discovered, to my disappointment, that many of the people who traded options were also gamblers. They most likely viewed their options adventures as just another exciting form of gambling.
I've seen respected stock market analysts admit that they had been unable to profit from options trades and recommend staying away from them. Motley Fool, which has been around for years,
I once asked my broker, at a large brokerage house, if she knew of any clients of theirs who consistently made money in options. She said, "A couple. Very few. Being in the business, I can't resist taking a flyer myself sometimes, but I've never done very well, either."

I subscribed briefly to the Value Line Options service. Their issues sometimes contained editorial statements that were remarkably lukewarm about their own service. They did not write enthusiastically or optimistically about options and seemed to doubt that their service would help anyone make money. My inference was that they published the service only because they saw a market demand for the statistics and could profit by providing them. I also subscribed to their Value Line Investment Survey, a fundamental analysis service on stocks. They never expressed similar reservations about their stock service, with, in my opinion, good reason.