Flehmenlips
Member
I am an abysmal trader. I think I am going to close out my DITM 1/28/22 BPS at max loss and open new ones at this low stock price. Not sure what else to do at this point.
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With 70% growth why would you use 2021 earnings.And using actual 2021 earnings of 6.78 current PE is 128 with SP of 866.
Thinking same. Finding a reasonable bottom to stay 20% away from and how far out isn't evident to me right now. Is it the mid 8s?I am an abysmal trader. I think I am going to close out my DITM 1/28/22 BPS at max loss and open new ones at this low stock price. Not sure what else to do at this point.
Same for me.... still holding my 1/28 980/830..... Wish i rolled late yesterday for a credit. Trying to determine to roll for a large debit, or just close it out, or roll way out and up Dec '22 1200/1050.I am an abysmal trader. I think I am going to close out my DITM 1/28/22 BPS at max loss and open new ones at this low stock price. Not sure what else to do at this point.
What else is the growth relative to?With 70% growth why would you use 2021 earnings.
My long put was $960, so didn't really want to keep paying debits in hopes of a turnaround. We also didn't want to lock all money up into a position where 2022 becomes a "hope of recovery" year and we don't earn anything.It appears that some individuals have closed positions at max loss. Is there a reason to close at max loss vs rolling and keeping them alive regardless of how dire that prospect looks? I do realize a roll of ITM spreads does take a debit to roll or additional margin to widen the spread. Unfortunately, it looks like i need to start managing these positions.
It appears that some individuals have closed positions at max loss. Is there a reason to close at max loss vs rolling and keeping them alive regardless of how dire that prospect looks? I do realize a roll of ITM spreads does take a debit to roll or additional margin to widen the spread. Unfortunately, it looks like i need to start managing these positions.
A combination of no cash or margin left to work with and very DITM spreads has left me with incredibly undesirable options for rolling. I fear I will be digging a deeper hole and end up losing more if I roll. Whereas buying back the spreads may give me the opportunity to open some new positions at what *seems* like a "bottom" and earn back some premium to counter the losses...It appears that some individuals have closed positions at max loss. Is there a reason to close at max loss vs rolling and keeping them alive regardless of how dire that prospect looks? I do realize a roll of ITM spreads does take a debit to roll or additional margin to widen the spread. Unfortunately, it looks like i need to start managing these positions.
I have similar positions but far worse...Here's my situation with one of the 1/28 positions, others for Friday are similar.
To roll, at current price of $857, its $3200+. I only received $4885 credit when I sold this spread. By rolling to the 4th, the issue get's worse if the downturn continues. To close out, the loss is -$17,421.00... not pleasant.
Thinking that if I open new spreads now, eat the loss, maybe make up half with the new credit.
Per my options level, I can't sell naked puts. open to ideas. Have a couple more that are similar.
View attachment 760946
My short legs are -1120p, -1100p, -1080pI have similar positions but far worse...
If you close today this week, it is max loss. If you roll up and out without any additional margin requirement, do you not maintain a chance of regaining some of the max loss?My short legs are -1120p, -1100p, -1080p
My long legs are +1000p, +950p, +910p
I also have +800p and +840p as protective puts.
In addition my core shares are deep underwater as well, which pinches margin harder.
It is pretty ugly. Ah the lessons hopefully learned...
When I try to roll, the margin requirements won't allow me to do much other than roll up and out quite a bit, and going far out in expiration doesn't seem to help much, or even makes it worse so I am looking at rolling short expiration and in the -1200/+1000 range for 2/4 or 2/11. I am less than optimistic about that type of roll at this point.
I suppose. But I also possibly increase the potential size of the loss. And if conditions maintain or worsen, I eventually run out of room to roll. In the meantime it seems I am sitting on that potentially losing position when I could alternatively be starting the recovery process sooner by selling spreads now when upside potential is rather good. I am not sure. Still thinking it through, but nothing is looking very good.If you close today this week, it is max loss. If you roll up and out without any additional margin requirement, do you not maintain a chance of regaining some of the max loss?
Here's my situation with one of the 1/28 positions, others for Friday are similar.
To roll, at current price of $857, its $3200+. I only received $4885 credit when I sold this spread. By rolling to the 4th, the issue get's worse if the downturn continues. To close out, the loss is -$17,421.00... not pleasant.
Thinking that if I open new spreads now, eat the loss, maybe make up half with the new credit.
Per my options level, I can't sell naked puts. open to ideas. Have a couple more that are similar.
View attachment 760946
Well there should be a long leg in the green, no? That limits your losses. And the bit between your short and long leg is covered by your margin.Can someone remind me again what happens if your short leg gets exercised and there are not funds to cover?
True. I may sell 800/700 for 2/4, use the proceeds to roll out the 1/28 950/850 to 2/4 ... will buy some time for sensible market to returnIt seems you could roll the strike prices up a bit for next week and wind up with a smaller debit or perhaps a credit?
Macros are in the now too. No chance of recovery today now.I keep thinking it can't go down any lower..., and then it does.