Quote (DonMario @ Mar 11 2024 02:07pm)
So I can get in the hang of taking 10-20% gains and take the chance on missing out on more, but sometimes the greeks own me so fast on other calls I'll be down -20% or much more in the first day, in those moments do I eat a loss even if it only took 3hrs for the trade to go down hill, do I hold my position in hopes that vegas overtakes theta and omega has a baby with vega and they name it rho, or was it the right play but at the wrong time and I really should just add to my position? I'm sure each options is the right play in certain senerios, my goal for now is to simply get down to how the price and profit is calculated and hopefully I can use that to my advantage even if it means not exploiting it but knowing when to hold out or cut my losses. Having people to talk to about it has honesty been the most helpful, understanding financing is becoming a new hobby of mine, next I need to dive into history/politics and economics but right now it's just one foot in front of the other and so far I'm having fun, despite what my profits for the month look like lol :D
yeah the greeks are definitely out of my ballpark. i just know theta and delta and try to guess the directionality of the stock
i saw your other posts and maybe you'd be better off being an option seller? if you have gg capital, cash secured puts and rolling them are quite lucrative. as now time and theta is working for you, not against you. you might do better with that instead, just an idea!
This post was edited by ChocolateCoveredGummyBears on Mar 11 2024 03:26pm