I told you guys...closing positions for a loss is for fools.

EdgeHunter said:
If you sold a CSP (Cash Secured Put) as part of the well known option Strategy: The Wheel
and held the position even when it went against you but not enough to PUT the stock position to you...

Then you did what thousands of traders before you have done with this strategy... by holding... until and unless you are PUT the stocks against your cash secured put and then you play out that long stock trade with covered calls... etc. etc.

I am scratching my head... The Wheel Strategy option trader holds his position until the put expires worthless or he is PUT the stock position of his option.

???
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This isn't just any old wheel strategy.
 
I get it..you were excited..nice trade


wxytrader said:
Sold a put! It was a typo...I bought to close at .05. Tao you should be able to deduce that from the information. :)

P.S this is why edits should be atleast 24 hrs...and quotes should be updated when op is updated.
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Baron said:
You're just applying hindsight to the situation and thinking you actually did something right. If all losing trades eventually came back and made us look like geniuses, that would be awesome, but unfortunately it just doesn't work like that.
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wxytrader said:
Sold a put! It was a typo...I bought to close at .05. Tao you should be able to deduce that from the information. :)

P.S this is why edits should be atleast 24 hrs...and quotes should be updated when op is updated.
More...

Vincent is that you bro?
 
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