My Options Play II
- Thread starter novel20
- Start date
And multioption provides the hilarious text. Have you read some of his stuff on the original My Options Play thread? It's priceless.
Would that be 2106 or 2206?
Looks like Multioption didn't take advantage of the last "adjustment" he made. Doubling up on a losing position usually just adds to the loss, but the market handed Multioption a golden opportunity to get out at breakeven after the DELL announcement.
GREED prevented him from closing his position, now his options are 25% OTM and time running out fast.
Quote from Multioption:
Be infomed that I will duly update on AMD trade. I'm long 150 contracts of AMD July 37.50 Call bought at avg 1.60/contract.
Warning: If you have a weak heart do not click. ENTER WITH CAUTION
This is one of those textbook examples for why we should have a trading plan and use money management.
On the other hand you have no reason to believe that Multioption didn't do so, and it was just a losing trade that didn't make a significant dent in his account.
Let the man live and trade in peace! Better post your trading opinions.
On the other hand you have no reason to believe that Multioption didn't do so, and it was just a losing trade that didn't make a significant dent in his account.
Let the man live and trade in peace! Better post your trading opinions.
If you followed his posts you will know he had no "trading plan and money management".
He went from ITM options to be sold at profit or once they reached OTM, to OTM option earnings play. No explanation was giving for such a radical change, just "will update shortly".