SPX - Expensive Lesson

[KINGOFSHORTS]

I never let anything expire. I close positions. Also before trading any instrument, make sure you have a 100% understanding of the mechanics involved before you put one cent in.

Then when your learning stick to 1 contract until you get good screen time.

 

[convexx]

You're right, should have played it safe, although the market actually closed down for the day which is what I expected it to do.

It doesn't matter what happened. You're setting yourself up for failure. Trading into the IPO made the trade a binary. The ATM combo was boosted into the SET for good reason. The shares came out 30 above the IPO floor. Makes NFP look like a non-event. Just be cautious around big micro/macro.