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I agree, however this story is about options, which are realized gains or losses. Real actual losses on other gains, in which you may not have put aside for tax. This can be a real problem.

The fluctuations on a 401K really are only significant if it occurs during a time in which you are relying on those funds, near or at or during retirement. Nobody with a 401K 'lost' anything in the last few years unless they withdrew from it.

Don't realized gains followed by realized losses within the same tax period offset each other?

I read up until he mentioned reading wallstreetbets.

Then I thought, "yup, another reason to avoid active trading, which I already know in my bones is a poor use of my time, money and energy" and stopped reading.

how much money do you think "most engineers" with a 401K and 20+ years experience have in their 401k? and what has been the largest single day swing in SPY in the past 5 years?

Two years ago the S&P 500 fell 12% in one day. You'd need about $1,250,000 invested in it to lose $150,000 in that day. That doesn't sound like an unlikely balance for a 401K after 20 years to me.