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I have noted this for my: rules to live by notebook. It is covered in a floral print.

yeah I thin this quote applies... to other things quite well.

I'd like to go for a bike ride and sprint in the hills for five minutes. I'd look good and people would think I am strong. (theta) Once I get to an hour I start to look like a microwaved meal left in for two days... (delta) :) K

I think in day trading it would be the example of using a trailing stop, let those winners run! I am asking specific to options and I don't day trade. I am stressed enough.... -K

Guys, I know this has been addressed here in some form and I see it addressed online with regard to day trading, etc. I'd like to know the opinion of anyone willing to share: context: risk defined small portfolio. I have a portfolio that is currently limited to small positions that are 1-5%...

I'm not so sure. except for the recent change in February. this ETF traded within a narrow range and in fact was within the range of my short strikes since 2017. for three months it traded in a five point range before that time. Although the IV was high at the time I made a call that seemed to...

if one wanted to make a career out of selling iron condors, would one butter the bread thinly, spreading their many small sales over a diverse set of high IV underlying, or would one invoke a laddering strategy, sticking to one or a few underlying? I am aware both are done, I am just curious of...

novel idea. go right ahead!

Illini, thanks for the post: In retrospect, this particular contract should have been monitored more closely. I felt that it collapsed quickly with the market, but really there were about 6 days over which it could have possibly been managed. I have learned to chart my expectations and set...

I have spent the last night learning more about broken wing condors, big boy iron condors, chicken iron condors (seems like playing chicken with a price change to me)... all interesting approaches. This position is likely to lose me a bit of money and provide me with a lesson in the meantime...

I've found that rolling in the untested side and hold to expiry, which is the right thing to do based on my own research, seems to be a net loser for the reasons you've mentioned. Is this because I simply waited too long, or rather was subject to a downward phase shift in price due to the market...

kind of like touching a wrench to both poles of a car battery?

OK, I think I understand. So a lot of the options I have seem to be not so much about running from the position I already have, but about incrementally mitigating the loss with smaller "wins" in the right direction. I assume taking the approach of the "iron butterfly" is more of "crossing the...

so I'm not an analyst or I would understand the sector more. The IV was high and I did not anticipate that all the high-IV underlying I had been choosing would explode with the market correction that occurred in January... however... I feel like it should recover at least partially and today has...

also we are talking closing original put spread and initiating new, or closing 4 legs to initiate some other bastardization of my original condor? -K

if I am reading you correctly, you're suggesting 1. cut bait or 2. kick can down road and watch ETF for recovery by a. new iron condor with one point closer-to-the-money strikes in the put spread and... where for calls? very close to the money (narrow iron condor) an iron butterfly? b...

yes, they couldn't get off the ground... so to speak

At risk of getting beaten up here, I am reaching out for advice on managing options from cradle to grave: new options seller, small account (<5k), using this to learn and earn some income. After researching, I feel that managing a portfolio of defined risk options is a good possible source of...