sleepyhead
Active Member
When TSLA didn't go up above 250 as I expected, around lunch time I put in three orders (1/3 each) to close my daily options at 10%, 20%, and 30% gain. The 10% and 20% quickly got struck and missed the 30% by a hair. Ended up taking a 70% loss on the last third.
Overall, I could (should) have covered my trade for a quick double just minutes after I made it, but I got greedy and once again greed did not pay off. Overall I lost about 20% on the trade, so not too bade considering that there was potential for a big pay off.
I also lost money on my 265 trade earlier in the week. I was smart enough to cover half yesterday morning when TSLA was rallying, but kept the other half and let it expire worthless. I made some good solar trades this week to offset that, so all is good.
Overall, I don't know about these weeklies; just not enough time to make money in them. That 10-bagger every now makes up for the losses, but it is a lot better to be selling these than buying.
Overall, I could (should) have covered my trade for a quick double just minutes after I made it, but I got greedy and once again greed did not pay off. Overall I lost about 20% on the trade, so not too bade considering that there was potential for a big pay off.
I also lost money on my 265 trade earlier in the week. I was smart enough to cover half yesterday morning when TSLA was rallying, but kept the other half and let it expire worthless. I made some good solar trades this week to offset that, so all is good.
Overall, I don't know about these weeklies; just not enough time to make money in them. That 10-bagger every now makes up for the losses, but it is a lot better to be selling these than buying.