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@Betterthangold @Pray4 tennis star looking to buy options ..if I already have 100 shares of said stock how does that work? Do you guys know? Been reading up on this topic but slightly intimidated by the whole deal because I've never done this before ..options rookie I be. any help would be greatly appreciated
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Betterthangold : I would spend sometime either in Moomoo’s training videos or on YouTube. You don’t want to get your theories wrong. You can also practice on paper trading and see how you come out before using actually money.
student otg OP : any one with good advice can contribute
student otg OP Betterthangold : true. upside down in a trade and looking for a solid way out. I had a chance to bail and secure a small profit but instead only sold about 30% in hindsight I should have sold 80-100% and bought back later at cheaper price as I had planned to do but didn't follow my instinct so here I am trying to dig out hoping for a big enough shovel. thanks for the reply.
Betterthangold student otg OP : Been there a couple of times and the past 4-5 weeks have been rough. Don’t be emotional, be patient and you’ll get better
student otg OP Betterthangold : not emotionally challenged but been contemplating on this for several weeks . looked at some YouTube and in fact I couldn't believe what one guy said ..I'm wanting to do a "long put" and this guys video he says " don't do it. it makes no sense..just sell" . I'm thinking that advice can't apply to every situation. lol
Mcsnacks H Tupack : More people lose at options than gain. You have to be lucky or know the entire way it works. Has way too many factors that they can change daily. A market in turmoil is especially Not a good idea. I know How it works and still don’t do it. It’s tempting but too much of a gamble for me.
iamiam : listen to @mcsnacks...options will likely decimate you learning. if you have 100 shares your doing it right you should be selling calls my friend
student otg OP iamiam : hard to do calls on a declining stock..although I believe it will come back around I still feel the need to learn as much as I can if I'm ever going to make more than a few bucks at a time. However I do realize that there is no such thing as a " sure thing " the more you know the better off you should be.
iamiam student otg OP : that's why you sell them. if you sell a call someone pays you for the shares you own. you take that money and buy them back cheaper (when the price declines) keep the difference. but if the price starts to go up they become more expensive. for example a couple weeks ago I sold dec 17th 20strike CLF calls for 3.3 each they ran up to 3.9 that day, i bought them back this morning for .25 each I kept (and had already spent) the difference of 3.05 each
student otg OP iamiam : so basically your telling me selling options is not much different from selling ordinary shares
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