Naked call adjustment
- Thread starter Tal priel
- Start date
If OP listened and did that late today, the damage isn't too bad.
Shorting something with an IV of ~ 135% is too risky for me so I would get the hell out.
Yesterday, it fell by a huge amount. Had you bought a put option instead, you would have made out like a bandit. Also, your maximum risk would have been the cost of the premium and not a penny more. That is why I am an options buyer instead, of an options seller. I would rather risk a couple of hundred dollars with the goal of winning thousands instead, of the other way around which is risking thousands of dollars to make a few hundred dollars.
You know...now that you exited the trade, on Aug 21st the stock will close at $94.99
Sadly, this is probably true. The Market knows what you are doing. The Market will do whatever it can to hurt you. Oh how many times have I bought at the HOD and sold at the low... 
Post the position.
That is actually OK. You can't win them all.
Don't feel bad and don't give up. Welcome to the club as many of us (me) had similar experience in our past.
Sadly, this is probably true. The Market knows what you are doing. The Market will do whatever it can to hurt you. Oh how many times have I bought at the HOD and sold at the low...
Yeah, happens to all of us. Now though, when I'm thinking of cashing in or cutting losses, I ask "Would I buy/sell at this price if I wasn't in the position?" That always helps me think more clearly, especially if I entered a FOMO trade which I try not to do, but usually end up in one once or twice per month.