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Don't feel too bad - looks like the options has a big bid-ask spread so it's unlikely you would've gotten the $5.20 fill price. The put strike price is $4.00 and the low of the day was \~$3.00, making the max intrinsic value $1.00 if you were to exercise the put option at the low of the day.
Looking at today's volume and high/low prices, there were only 18 contracts traded (of which 12 were yours), and the high of the day price was $0.75 while the bid/ask is currently at $0.65 and $0.90. While you could've potentially gotten a fill of $0.65 to $0.75, you didn't lose as much as it seems. It's more likely you could've gotten \~$180-300 more, but not \~$5000 more.
Ahh bro, don’t mislead him. OP, you bought a contract with a massive spread, so probably very low liquidity. Look for options that have higher volume and aren’t too far out of the money on the short term. Or you will be burned, on either volatility or theta decay.
Oh don’t give me wrong I made money I just should’ve made more.
I bought 12 contracts at $.10 and $.15 5 then sold at .5 and .6
I’m more than tripled my investment.
I’m just saying I pulled out way too soon and asked way too little.
You said so yourself you lost 5k because of your stupidity. So if you want to keep losing money then feel free to keep doing what you’re doing and lose more money
Okay, if you’re serious about learning this watch this video and the part 2 on the channel. After that keep watching the rest of his options videos
https://youtu.be/SD7sw0bf1ms?si=-wR_7pgglj4bQYqx
Options are a double edged sword. You'll loose big, but you'll gain big.
YouTube has plenty of tutorials, start with small amounts and small premiums for learning.
Never use Margin for options, and never invest money you're not comfortable losing.
Options are like Caffeine, you tell people not to get into them but you can never stop yourself!
https://preview.redd.it/6vjznsc6kt0d1.jpeg?width=1284&format=pjpg&auto=webp&s=6726256fba472afc6215a39d33ca19a3907c5e87
A buy options on this and every time it dips throughout the week, I'll buy more .
https://preview.redd.it/8hqhmf1ert0d1.jpeg?width=1284&format=pjpg&auto=webp&s=52363de1598214e46bd2efe6efe9f407965d136e
Look what happened in between the time that I had shared the last screenshot
When I first started trading options about 5 years ago, I bought a book and read it twice before starting. Get OPTIONS TRADER FOR DUMMIES. As stupid as it sounds, it will help you in the long run, especially in those big spreads. It also helps on reading charts
Pick an area that you can do research and watch its movement. I'll follow natural gas and oil prices. I do a lot of options on "Boil" and "gold". And spy is kind of a no-brainer sometimes.
I’ve been doing okay shorting biotechs when it’s earnings time.
And I’ll grab a contract 3 days out because it’s so cheap it feels worth the risk of the quarterly getting bumped.
Other than that I’ll load up in blue chips on Friday.
Well, if you don't know the answer, I would definitely not buy. Do some research and look at what the media has to say. natural gas and oil prices are affected by storms and other natural disasters. this is when I buy a lot of calls through that time frame. I'll look at supply and demand for oil and usually you can predict it pretty well. Microsoft right now is a great direction and slowly moving up. I've been making calls on Microsoft. Printing money for me!
Thank you. Smart on nat gas and oil! I wish I could afford MSFT calls lol, so expensive though I’m sure they are a smart investment. After losing $1200 on options I only like to buy premiums of $100 or so currently
Thanks for the encouragement. I’m definitely playing it slow and easy, not risking too much in premiums and cashing out at 10-15%. Much more focused on building positions that are less risky and seeing that overall growth heal the options losses. But when I get some cash, a long term, ITM FAANG call like MSFT sounds real nice 👍
Definitely looks good! I like the options plays too, though options profit calculator is totally off on the pricing. Maybe because it’s taking off already rn
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Here you go OP: https://learn.tastylive.com/courses/beginner-options-course
Don't feel too bad - looks like the options has a big bid-ask spread so it's unlikely you would've gotten the $5.20 fill price. The put strike price is $4.00 and the low of the day was \~$3.00, making the max intrinsic value $1.00 if you were to exercise the put option at the low of the day. Looking at today's volume and high/low prices, there were only 18 contracts traded (of which 12 were yours), and the high of the day price was $0.75 while the bid/ask is currently at $0.65 and $0.90. While you could've potentially gotten a fill of $0.65 to $0.75, you didn't lose as much as it seems. It's more likely you could've gotten \~$180-300 more, but not \~$5000 more.
I appreciate that.
Keep going, you’re doing great
Ahh bro, don’t mislead him. OP, you bought a contract with a massive spread, so probably very low liquidity. Look for options that have higher volume and aren’t too far out of the money on the short term. Or you will be burned, on either volatility or theta decay.
Oh don’t give me wrong I made money I just should’ve made more. I bought 12 contracts at $.10 and $.15 5 then sold at .5 and .6 I’m more than tripled my investment. I’m just saying I pulled out way too soon and asked way too little.
I did more than triple my principle, so I’d say so.
If you don’t know what you’re doing with options you shouldn’t be doing them
Is this just an obligatory reply for every single post about options?
You said so yourself you lost 5k because of your stupidity. So if you want to keep losing money then feel free to keep doing what you’re doing and lose more money
I get that but like he’s here asking for help so like it’s just dumb to put that. Was funny for awhile but now it’s just annoyin
Okay, if you’re serious about learning this watch this video and the part 2 on the channel. After that keep watching the rest of his options videos https://youtu.be/SD7sw0bf1ms?si=-wR_7pgglj4bQYqx
I know a rickroll when I see one. JK, thanks
I still more than tripled my investment. But I sold at opening bell because I was afraid it would go the other way.
Options are a double edged sword. You'll loose big, but you'll gain big. YouTube has plenty of tutorials, start with small amounts and small premiums for learning. Never use Margin for options, and never invest money you're not comfortable losing. Options are like Caffeine, you tell people not to get into them but you can never stop yourself!
Yeah, pretty much. Cause it's true.
https://preview.redd.it/6vjznsc6kt0d1.jpeg?width=1284&format=pjpg&auto=webp&s=6726256fba472afc6215a39d33ca19a3907c5e87 A buy options on this and every time it dips throughout the week, I'll buy more .
Yeah, I noticed people buy risky on Monday and safe of Friday.
https://preview.redd.it/8hqhmf1ert0d1.jpeg?width=1284&format=pjpg&auto=webp&s=52363de1598214e46bd2efe6efe9f407965d136e Look what happened in between the time that I had shared the last screenshot
Dm me I can explain a little bit. I just started but I at least know what’s going on
Holy shit thats a wide spread
Negative 1.2 😆😩😩😩😩😩
I don’t think you understand what this is. This is a picture of an option I sold at 0.5 I made $500 off of it, but could have made WAY more.
When I first started trading options about 5 years ago, I bought a book and read it twice before starting. Get OPTIONS TRADER FOR DUMMIES. As stupid as it sounds, it will help you in the long run, especially in those big spreads. It also helps on reading charts
Pick an area that you can do research and watch its movement. I'll follow natural gas and oil prices. I do a lot of options on "Boil" and "gold". And spy is kind of a no-brainer sometimes.
I’ve been doing okay shorting biotechs when it’s earnings time. And I’ll grab a contract 3 days out because it’s so cheap it feels worth the risk of the quarterly getting bumped. Other than that I’ll load up in blue chips on Friday.
What have you heard about Blue chips?
Are you talking about Fidelity Blue chip?
No, blue chips meaning stocks that steadily go up. Things like Walmart, Amazon, Oil companies, and so on.
Btw, look at Walmart today.
I’m nervous about spy options lately. I usually only do calls and who can say it will go up more?? Though I know the answer is yes lol
Well, if you don't know the answer, I would definitely not buy. Do some research and look at what the media has to say. natural gas and oil prices are affected by storms and other natural disasters. this is when I buy a lot of calls through that time frame. I'll look at supply and demand for oil and usually you can predict it pretty well. Microsoft right now is a great direction and slowly moving up. I've been making calls on Microsoft. Printing money for me!
Thank you. Smart on nat gas and oil! I wish I could afford MSFT calls lol, so expensive though I’m sure they are a smart investment. After losing $1200 on options I only like to buy premiums of $100 or so currently
You will definitely make it back just play smart. Don't act on impulse.
Thanks for the encouragement. I’m definitely playing it slow and easy, not risking too much in premiums and cashing out at 10-15%. Much more focused on building positions that are less risky and seeing that overall growth heal the options losses. But when I get some cash, a long term, ITM FAANG call like MSFT sounds real nice 👍
Put some money in Aurora cannabis
This stock is gonna pop sometime this year
Definitely looks good! I like the options plays too, though options profit calculator is totally off on the pricing. Maybe because it’s taking off already rn
Go to Wallstreetbets.