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Tips on options please?


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#1 uburack

uburack

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Posted 05 April 2010 - 11:48 AM

Hey I'm looking for some tips on trading options. Links to tutorials would be welcomed or maybe you have a few guidelines you use and would share. Primarily I am looking for tips on optimizing my entry point. Best time of month, time of day, to trade or does that matter. Spread between strike and current price. ITM vs OTM etc etc etc. What have you learned that you would tell anyone considering trading options? Made my first option daytrade the other day for +33% so I'm feeling a little more comfortable to dip the other toe in. B) thanks in advance, ubu
John 21:6 And he said unto them, "Cast the net on the right side of the ship, and ye shall find". They cast therefore, and now they were not able to draw it for the multitude of fishes.

#2 souelle6

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Posted 05 April 2010 - 02:58 PM

Hi ubu, I have quite a lot of experience in the area and have been pretty good recently at posting my option trades on TT ... You can go back and check the topics I have started to see what I am doing... Personally whenever I put on a trade I have an exact idea of what I believe the movement will be like... I trade short dated options so there is never really any time to "wait a correction out" as the erosion based on your Theta's (daily loss due to nearness to exercise date) will make any kind of waiting out unprofitable anyways (even if you end up being right)... So you want to have an exact idea of what you believe will happen and then out if it doesn't... If you have any specific questions please feel free to send me a message I would be more than happy to answer them souelle
"It's not the thinkin' that makes the money, it's the sittin' and waitin' that makes the money" -- J.L