I have the potential to loose only loose $1400 on the 600 strike for March, BUT it was an impulse decision before close yesterday that I told myself not to do and did it anyway. AAPL looks like it could fill the gap up to about $577-$580. It could always be worse. All things considering AAPL could be trading under $500 and crashing but it's not. Options are dangerous especially with apple and like a poster mentioned below owning shares are better unless options are deep in the money. I would be staring at the screen as well. Try to be patient and break even or take the smallest loss you can.
With Apple options played around earnings, you can get the TIMING AND DIRECTION CORRECT but STILL LOSE MONEY when the volatility premiums evaporate immediately after the earnings. It's is EXTREMELY difficult to make money trading Apple options on earnings from the long side only....unless you are DEEP IN THE MONEY. Sell credit spreads.
I'm not piling on but if this is true shouldn't you have put a little more thought into risking your entire life savings investing in options? Why not half or more long and the rest in oppies. The word greed keeps popping in my head. Longs will eventually recover all of their losses today and I'm sure shrewd ones are taking advantage of this OVER reaction and adding to their long positions. If what you say is true though you just have to learn from your mistakes and only put what you can afford to lose in oppies.