critique my option trade

[never2old]

the markets are moving up, what could possibly go wrong in the next week to this option expiry?

bullish trade on TQQQ 55/60 debit call spread expiring April 24, cost ~$4, potential profit $1 or 25%.

 

[TooEffingOld]

It's a bullish debit call vertical, nothing much to say.

However, I take issue with your name/handle. ;-)

 

[never2old]

thanks.

oops, we must be related

 

[00wreckless]

No one can predict the future.

Roughly, at current historical volatility, there is 60% chance of TQQQ expiring on April 24th above $60.
Are you using stop loss? If not and you make trades like this 10 times, you will loose 4 times x $400=$-1600 and win 6 times x $100=$600, you will be down 62.5%.
Use a stop loss at $100, you should come out ahead.
Staticsically speaking.

I like low probability, high reward to risk trades, really they are the same, you just have to decide what your most comfortable with.

Oh, I like your name handle.

 

[never2old]

Roughly, at current historical volatility, there is 60% chance of TQQQ expiring on April 24th above $60.

Are you using stop loss?

I like low probability, high reward to risk trades, really they are the same, you just have to decide what your most comfortable with.

Oh, I like your name handle.

thanks - yes & agree, I'm comfortable with [options] long trades as well as weekly trades, even 3-4 days before expiry, especially on high volume options, including closing positions before expiry - I'll even take 5% profit for a day,few days or a weeks effort.

for me there are no hard fast rules that say 'wait till expiry'

getting 5%/wk consistently 'we'd all be richer than we thought we could be'

 

[S2007S]

Now we have 3 of the same people talking to themselves. I think this pandemic is really getting to people!!