Help with two losing options trades expiry jul12

Quote from baro-san:

There are no magical repair methods for a trade gone wrong. From before opening any trade you have to have an opinion about the future evolution of the underlying's price and of the options' implied volatility, and a clear plan of when and what to do both if the trade goes against you or it goes your way. You should follow your plan. Also, it is advisable to trade liquid markets.

Do your analysis now, as if you didn't have any open positions, then adjust your current position to reflect your current view, or get out. Don't hope!

If you're not familiar with all the aspects of options' trading, stop now because you're gambling without knowing your odds.
More...

Yes I think I rushed into these trades based on "news" more than anything else. Next time I will be more careful for sure before gifting my money to the market like this.
 
Quote from trader198:

let it epire worthless, there is obviously not lot involved.
buy otm call next week with big size. I doubt those small stocks may not have this kind of volume. if that case avoid them totally.

buy otm qqq/spy call next week with a little bit big size, just hold on, if shooting more, add more then if it hit old high, dump them all there.

when I get a loser, I just ignore it totally, let it expire, or reverse it. it is fruitless to fix a not working position. judgement msitake can not be fixed, either dump them or ignore them and move on. all you can do is: do a new one.
More...

Am looking into this, thanks.

Thanks to everyone else that I have not quoted, everything is useful.
 
Quote from Cereal:

Hi

Just wondering if any of the more experienced people here might lend a hand and recommend some additional trades I might make so as to repair or minimize losses for these which are losing now.

Original trades are:

TBT - Total 6 PUTS - Current stock P is $15.84
-------------------------------------------------
Bought 4 Jul12 $14 PUTS at 0.52

Bought 2 Jul12 $15 PUTS at 0.95

BBVA - Total 6 PUTS - Current stock P is $7.07
-------------------------------------------------
Bought 2 Jul12 $6 PUTS at 0.75

Bought 1 Jul12 $5 PUT at 0.35

Bought 3 Jul12 $6 PUTS at 0.80
*

Appreciate any suggestions. Thanks
More...
*********


Just to take this story to completion, just sold the 5 BBVA Jul12 $6 PUTS for 0.15 getting net after commissions $67.43 which I haven't decide if I'll reinvest in BBVA or just keep for a future trade in something else.
Will keep you posted on how the whole position closes. Thanks
 
Just sold 4 TBT Jul12 $14 PUTS for 0.06 getting net after comm $17.94
Also sold 2 TBT Jul12 $15 PUTS for 0.38 getting net after comm $72.96

Both big losers but at least got something before expiry.

One position left and will report on completion.
 
Just sold 4 TBT Jul12 $14 PUTS for 0.06 getting net after comm $17.94
Also sold 2 TBT Jul12 $15 PUTS for 0.38 getting net after comm $72.96

Both big losers but at least got something before expiry.

One position left and will report on completion.
 
Quote from Cereal:
Just wondering if any of the more experienced people here might lend a hand and recommend some additional trades I might make so as to repair or minimize losses for these which are losing now.
More...

Quote from diaoptions:
07-02-12 04:56 PM

Simple solution:
More...

TBT Aug 2012 15.00 put is at $0.80, I would close the position at this time. So what do you think of that "repair strategy" to minimize your losses?

:)
 
Quote from diaoptions:

TBT Aug 2012 15.00 put is at $0.80, I would close the position at this time. So what do you think of that "repair strategy" to minimize your losses?

:)
More...

Well thanks, good ideas. Always easier in hindsight though etc.
Look at BBVA 6$ Put expiring today, stock now below 5.70 but i closed the option days ago already...
 
Quote from Cereal:

Well thanks, good ideas. Always easier in hindsight though etc.
Look at BBVA 6$ Put expiring today, stock now below 5.70 but i closed the option days ago already...
More...

That was a live call, it wasn't posted in hindsight. The ET timestamps of the posted trade - both opening and closing - will correspond with the real value of the TBT Aug 2012 15.00 puts at that time.


:)
 
You must log in or register to reply here.
Back
Top