I term meaning "You are fucked" or "There's no way out". Often applied to non-severe issues such as a flat bike tire. However, it can also be used to taunt a friend when they encounter an legitimate reason to worry.
Another use implies threat.
Use 1
Person 1: "Dude, that ugly girl asked me out and I was so drunk I said yes!"
Person 2: "You're done son."
Use 2
Person 1 spills hot coffee all over some douche bag at the food court.
1. Select a player (real or fantasy) during a sports draft to spite or anger one or more of your opponents because they had intended to select him/her.
2. Select a player (real or fantasy) during a sport draft to put one or more of your opponents at a strategic disadvantage.
1. Billy hate drafted Chad OchoCinco because he knew Sam had wanted him since he is from Cincinnati. Billy already had plenty of players to fill that position but wanted to make sure Sam didn't get him.
2. Billy hate drafted Peyton Manning because he was the only good quarterback left and he knew Sam had been planning on drafting him.