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SPX Blaster
Based on his screen shot of his positions. The option profit was about $1300 or $1400 less than the loss on the long contract. I believe if he does nothing, he will lose about $1300 or so.
What is the best approach for this trade ?
- Thread starter traderwald
- Start date
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SPX Blaster
Never mind. My account is only up 95% this past two weeks. Do whatever you want to do.
As I understand the L would be 21 points at close of trade for the put that long on this
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SPX Blaster
Question. If he felt the SP would go up, what is the difference if he simply went contract long and put a stop loss for 21 points? I don't see any difference. If this strategy was so good, why isn't everyone doing it?
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SPX Blaster
For what it's worth. I do believe the week of Sep 1, stock market will rally.
You're all over the place with your posts and it's just confusing the OP.
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SPX Blaster
I guess I don't belong here. Just delete my bookmark and leave this place.
Do you know what Sunk Costs are? They're sunk. They're gone. Nobody owes you anything on them, and to behave as if they do is to invite disaster with both hands. Here, I'll make it easy.
https://corporatefinanceinstitute.com/resources/knowledge/economics/sunk-cost/
https://en.wikipedia.org/wiki/Sunk_cost
So the *sound* idea is to work with what's there, and go forward.
"What's there" for the OP is a $1.25 max loss, and an ES delta that approaches zero.
So for shits and giggles sake, what about buying a call [and/or spread] at 2930?? Cheapest to be had, *and*would wipe out the $1.25 loss.
YOUR idea? Wipe out the insurance that bought the OP peace of mind and δ= 0.0
So, it's now up around $90, Russell?
Okay, well, Step One will be for you to learn to ask a cohesive question that can be answered. So, your 'question' notwithstanding, the OP bought the market, then bought insurance. The market sank, his insurance will cover all but $1.30. End of story.You run hot and cold. Got it.
This is not forexland, trade2??, blaster_zone, or any of your old hangouts. This is ET. Welcome! But don't whip bullshit around and expect applause.
Yes, you do seem to like banging on about this. But I notice that...
A) You stated you've had an account for only one week or so...
https://www.elitetrader.com/et/thre...-back-to-the-table.335422/page-4#post-4916173
B) Your account at the myfxbox link in that post is now missing.
Hmm!
I could not agree more
Simple ATM married PUT so max loss = cost of PUT
and some booked profit on soled Call
I am still waiting to see if OP will disclose what was his Sold call position, Yes he says he made 5 point on the soled call , but was that part of a collar? if so what was the original point of putting this on?
By the way TOM Ops Capital ( Underlying ES Long) is protected with that 1.25 diff but his real cost of trade is the PUT cost!