Qs option postion QQQUJ
Is it too late for my poor QQQUJ options? It could be. I hear that
these last two weeks are really when the time value gets sucked out of
the options. So out of the money options are not really the place to
have your money. Well, all I can do at this point is hope that the
market falls hard enough tomorrow and the day after to see if I can
recover my 8 cent cost basis.
My trading account is hanging in the balance here. If I am able to exit
the position with some scrap of captial still remaining, I will
definitely not buy current month options again. I was really playing
with too short a time frame.
If I end up losing all the money in this position, I’l have to wait
until I’ve done some more saving before I can practice again.
I think one of the biggest lessons to learn is patience. I rushed into
some poor quality options because they were cheap and I was too eager to
play the downside. Now I realize that it would have been much better to
wait until the direction of the market was more certain. Then I could
have profited more from today’s striking 70 cent loss in the Qs.
Instead I’ve lost money in my trade and also in the opportunity to
capitalize on such a dramtic move.