Love/hate relationship with triple witching hour...

C

Cabin111

I do covered calls mostly. I hate when a favorite stock gets called away in the last hour. But, I love when one that I thought would get called away, drops and is still in my portfolio.

Yeah, I know I can do a "buy to close", clear it off the books...Trade for another day. I just hate giving up those few cents/dollars that may not be necessary!! Cheapskate here...

What I really hate is the last hour...The wild swings. Trying to do things manually, it's like catching a falling knife. After the trade (in the last hour), many times I'll say..."That's not what I was trying to do"!!

I feel like a day trader...Which is the last thing I want to be. No offense...Don't have the cojones!!
 
Yeah I feel ya...But to me, getting called is a win. At least for that trade! Just take the win and:

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Cabin111 said:
I do covered calls mostly. I hate when a favorite stock gets called away in the last hour. But, I love when one that I thought would get called away, drops and is still in my portfolio.

Yeah, I know I can do a "buy to close", clear it off the books...Trade for another day. I just hate giving up those few cents/dollars that may not be necessary!! Cheapskate here...

What I really hate is the last hour...The wild swings. Trying to do things manually, it's like catching a falling knife. After the trade (in the last hour), many times I'll say..."That's not what I was trying to do"!!

I feel like a day trader...Which is the last thing I want to be. No offense...Don't have the cojones!!
More...

Yeah I know what you are saying. That's why they call it the "witching hour"; everything is crazy like it's bewitched. Lately though everything always ends up going up at the very last half an hour. What I really hate is you can't do anything about it cuz you never know where the price is going to land.
 
qlai said:
So why do you even watch it if there’s no decision needed to be made? Bordom?
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About one in ten (that are close to ATM) I will buy back, if I really believe in the company. I need to have a strong conviction, because I don't want to wait the 30-31 days to get back into it (many times at a higher price)...
 
Usually they are cover calls. I'll buy the stock, say for $99. (100 shares). I'll then do a leap for the $100. a year out. But if I like the company (and it has a good market share and P/E), I'll do a leap for say the $120...Less money, but not wanting to lose the stock.

Qlai, Yeah, I will take a small loss ($5-10.) to protect my shares...But I need to have a strong belief in the company, P/E under 30, holding/gaining market share, good dividend...Things like that.

The opposite of a day trader...A boring, value investor.
 
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