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Hi Guys - Does anyone know or could share a Sample Trading Journal for Options on a spreadsheet? There are plenty sample trading journals for Stocks, but I didn't come across any when it comes to trading options. I created one myself, but not sure if I have all the important items to look at...

Great point: Underlying is important, however, I should take into account Volatility and Theta decay when it comes to the option price changing. Definitely these 2 are also big ones and can't ignore those when it comes to option price.

Hello R123 - Excellent Tip. I believe you mean an alert (alarm) on the underlying and then close out the option myself. I'm assuming you mean I can put an alert on the underlying where it would almost act like an imaginary stop loss. If the price reaches this so called "imaginary stop loss...

Hi Guys thanks so much for your input regarding stop loss on options. Btw great point by IgorVI - setting an alert on the underlying or option would help a lot in order to exit when needed without having to sit there and watch price all day. That was the point to not watch the screen all day...

Thanks Robert! If I day trade options with no stop loss, i'm assuming I have to continuously watch the underlying and option price and keep an eye on it so that if it was to move against me, I manually do a sell order.

Thanks for the response. I'm using Thinkorswim trading platform to backtest. Simulated trading and back-testing is possible and excellent with this platform. I'm a swing trader who holds for longer days.

Thanks Lawrence. yeah definitely know there is no magical answer for where to position the stop loss, but I agree watching and monitoring the underlying is the best. Not sure what trading platform you use, but i'm Using Thinkorswim. Do you use the tool on your platform to compare the option...

Hi All - Does anyone have any input on placing a stop loss when it comes to options? For example, placing a stop loss on an option on a simple long call or put. NOT on a multi-leg option strategy. Does anyone recommend watching the UNDERLYING chart and placing an imaginary stop loss on...

Hello All - I'm new to backtesting. Is it best to backtest my strategies including any indicators or price action strategy I may use on a RANDOM stock I've never traded before. This way, I'm assuming, I won't have any bias on it's direction?? For example, if I've always traded AAPL, I might...