I owe 40k of taxes and I make 30k a year - no savings

Options trader here. Not exactly. Options expire, so the OP took profits from contracts. They have to be sold, expire, exercised or assigned at some determined point based on the contract. OP's story is a common one unfortunately. One, always pay yourself first. Second, there's a very large difference with options trading between trading 5k vs 50k. I suspect the OP had some lucky breaks in 2017, maybe on long calls, LEAPS, or selling puts. His portfolio grew beyond his ability and was then hit with an early 2018 market shift that wasn't anticipated. If you ever revisit options OP, set yourself strict guidelines so you're never in this position again - it's a costly lesson.

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