Request advice almost blew up account

GRULSTMRNN said:
You want downside protection while being way too late in the game and you want immediate protection and it should be cheap (in a high vol environment). Let me give you an equivalent what you want. Your house is burning and you are not insured. Now you want an insurance that is backdated to before the fire and it should be cheap. Guess how many insurance companies will write you such policy....
More...

Lol exactly. Why is it no one thinks about this ahead of time, puts were cheap relative to whats going on. Now fuggetaboutit
 
Robert Morse said:
Why?Why not move on? I had a friend that rode a stock from 300 to 1. I asked why she did not sell for months and she said I don’t want to take a loss. I don’t understand that as except for taxes, she lost money the day she bought it.

My suggestion is that you learn to take losses and move on. Find a better home for your money.
More...

I never understood the loss aversion, shit its a tax writeoff anyhow. This is why so many traders fail. They refuse to throw in the towel and regroup. Instead its like deer caught in headlights.
 
eaglefeather said:
Hello,
I made a series of mistakes trading US Steel which cost me dearly.
For brevity, I ended up long on the security and rode it down all the way from 37 or so to 20.
I want to maintain a long position on this stock, but I really have to watch my margin balance, I would be curious to know how my fellow options traders would accomplish this. ATM calls are too expensive, as are box spreads.
Anyone know of a tweaked box spread or something there alike?
I believe this stock may spike but want to give it some time.
Please don’t need basic advice, only empirical options spread examples.
More...

If you bought put options on X, you would have made a huge killing and lots of monies in your
pocket. Trend is obviously, down. That is a no brainer. Just my 2 cents.
 
You must log in or register to reply here.
Back
Top