smart ass option trade on HD :)

Well s/he could roll the position for a $0.60-0.70 credit or close it out for a $1.40 loss.

Personally I would roll it, but I would have probably also gone in naked with a small number of contracts and treated it as a way to initiate a position.
I would roll out too.
 
50 contacts of what? You can trade 50 contacts of PCLN or 50 contracts of MT.
None of them. I trade, SBUX, MCD, ADI, AMZN, GLD. AVGO, BA, CAT and maybe another half dozen of other stocks. I do not jump around. I almost never buy options. I always sell. If I am bullish, I sell options, If I am bearish, I sell options too.
50 contracts of PCLN weekly options for the strike price of $2000 would be still 1 cent :)
 
And everytime your position is 50 contracts?

None of them. I trade, SBUX, MCD, ADI, AMZN, GLD. AVGO, BA, CAT and maybe another half dozen of other stocks. I do not jump around. I almost never buy options. I always sell. If I am bullish, I sell options, If I am bearish, I sell options too.
50 contracts of PCLN weekly options for the strike price of $2000 would be still 1 cent :)
 
And everytime your position is 50 contracts?
Some bad days are 5 or even nothing. Very good days like 200 to 300 contracts. Multiple trades and not 300 contracts in one position. My biggest one time trade was 600 contracts to roll over a strangle which was 150 contracts on each side (150 x 2 x2).
 
If that option trader could have hold his breath and kept his position (we do not know what he has done), he/she is a winner now (so far).
 
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