R
ReddyLeaf
Guest
I feel the pain. Wish I has closed out yesterday. Still holding and wishing. I’m not the smartest light bulb.Kind of how I'm feeling this morning. I decided to close my 160/150 BPS expiring this Friday. Two days ago I had a 2/3rds profit I decided to wait to take; today I get out with a gain, but more like 20%. Despite the position being OTM right now and on track for full gain in 2 days, I don't want to risk another $5-10 down day tomorrow.
Besides, a big down day is a good day to open a new position! It was the main reason I was thinking about closing a couple of days - so I'd be ready to open the position for next week. Ah well.
EDIT: Aren't I feeling smart right about now.
![Hot face :hot_face: 🥵](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f975.png)
![Face with symbols on mouth :face_with_symbols_over_mouth: 🤬](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f92c.png)
I knew we are in two different worlds. I’m worried about selling 10x CCs.I closed my 233.33 and 220 CC for tomorrow and I sold 250x CC for tomorrow for 187.5 and 190 strikes for 0.1 = $2500. Also sold 40x 160P for next week for $2.5 on the shares I sold yesterday at 183. Nice little end of week bonus. Will more than cover the cost of the Angel Flight I’m doing Saturday to fly a cancer patient and her husband home after her treatment tomorrow.
![Rolling on the floor laughing :rofl: 🤣](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f923.png)
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Well, I wish I had something clairvoyant and/or informative to provide regarding today’s trading, but alas, I’ve got nothing. Once again, I’m just another stooge that Wall Street has managed to trick. Last ER (January) I sold ATM CCs, to my detriment. Now this week, I have been buying back 1-2x CCs at every drop, thinking I was getting a good deal, only to find out that there was another drop around the corner. So unfortunately, about half of my shares were uncovered going into todays 10% drop. I’m still trying to get back to selling ATM straddles like @Max Plaid but it will be quite awhile. Even buying May +p150s doesn’t really seem to help, as those aren’t really appreciating like I expected. Oh well, still holding 150/160 BPS but rolled 155/165 BPS to next week 150/160 BPS. Hoping that the uptick rule helps the SP stay above 160 Friday.
![Crossed fingers :fingers_crossed: 🤞](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f91e.png)