Thank you, but that applies more to option sellers than option buyers like me. Actually, my problem, besides wrong market reading, would be volatility, I mean, I dont'like DT at all, but he is doing a great job for us!
Started very risky contrarian play using Jun 21 expiration on SWKS (2 Put 76 @.95) and BABA (Put 165 @1.7). Besides keeping the CTRP calls, I am still very exposed on further upside moves.
Sold the calls @ 0.5: -20%. This time time the conservative play worked against me. A few minutes later they were at 5. This means that I could have made 10 times as much!
Thanks for asking. I will try to provide a weekly summary update. As the last period is concerned (since May 20), after a rough start where I lost more than 10% of my account, I recovered all my losses and now I am up a few percentage points. Needless to say, I am constantly learning and you...
Bought today SNAP dip (-3.2%) @13.5 by getting 5 CALL 13.5 June 21 @ 0.35. Very risk trade, but I'll get out soon if things so south.
Even bought the stock @13.54 for longer time action.
Sold the Call 55 THO @ 1.95: +15%.
It is odd to say with the risky strategy I am using, but I sold because I felt that first I had to preserve the capital. With only 4 days to epiration, things could have gone bad easily.
Sold CBAY @6.34; +4.9%. Probably I sold too early, but I had put quite a bit of money on it. I mean, nothing special, but about 20 times as much the amount I usually put on each option trade. Now it is already @6.7, but I dind't like the little insider ownership within the company.