Sell a losing long call?

[john7722]

• LMND is doing good.
• The bid on your calls is about $28.00
  
• If this keeps up you should make a nice profit.

I didn't sell it yet, I am still waiting for price to go up . I might just turn it into a bull spread while I wait.

 

[ironchef]

I agree,but at this point I don't really trade options. I just buy a call when I'm bullish ( from time to time) instead of buying shares or sell a put when I am trying to get an assignment at cheaper price.

Don't listen to the nay sayers.

I have not posted or do any active trading for about half a year now. Just happened to read your post after reading a PM.

Since 2013, I was very profitable by essentially did what you are doing, making directional bets using single leg call/put. There are a few things you have to consider to be profitable but they are simpler than multiple legs.

Just one food for thought: you spent your premium to buy an option so you can profit, you should in most cases consider that a sunk cost, like the case when your company offered you stock options and it is generally more profitable to wait until expiration to exercise.

Please don't PM me because I won't answer.

 

[john7722]

Thank you , Did you get a PM from me? I don't remember ever sending a PM do anybody .

I have had little bit of luck with single leg calls , but lately it has been more difficult to be constantly profitable , I usually panic and close a losing option 2 weeks before the stock recovers...I trying to learn to be more patient .