I got crushed by the loss of my hedge put (I took NOV30 2020 327 PUT) on the SPY JUN21 350 call.
I closed the Call too early (just broke even) and didn't sell the put hedge fast enough ; also I hedged triple (trying to average it down, I think I hedged too late too since the fall was already well engaged). Now its down from 8.80 to 0.70 ... Was hoping election fraud suspicion and the following uncertainty about the election would make SPY fall again before the expiry date (NOV30 2020). Expensive lessons. Put trading seems to be bad for me, I hate it.
wise man
When winds are strong it is foolish to build a fence, you should build a windmill.
trading is exhausting, I closed my TQQQ positions at 6AM Midwest time CST with 8% gain and I'm done for the day
I got crushed by the loss of my hedge put (I took NOV30 2020 327 PUT) on the SPY JUN21 350 call.
I closed the Call too early (just broke even) and didn't sell the put hedge fast enough ; also I hedged triple (trying to average it down, I think I hedged too late too since the fall was already well engaged). Now its down from 8.80 to 0.70 ... Was hoping election fraud suspicion and the following uncertainty about the election would make SPY fall again before the expiry date (NOV30 2020). Expensive lessons. Put trading seems to be bad for me, I hate it.
I was hoping to sell my WMT options this morning but Schwab app and the website were froze up. Finally got in but price had come down by then.
I'm using Schwab and ETrade. Etrade is much better. Power Etrade is absolutely amazing.
The pause that refreshes!!!
WTF is going on with PMs?
Thanks need all the help I can get.!!!
Thanks Greg, Ripping & Shredding!!! watching closely.
i just hope my puts play out! at this point, I have to take the day off too..
Enjoy your vacation!
With you Greg
You the man Greg! Keep up the good work.
Thank you Greg!
Great step.. with election issues we can see opportunities within days if Trump team succeded in spreading doubt ..