To my fellow option traders
🔑 Word this week will be PATIENCE Limit your downside risk, wait and plan on the best entry. Do not chase, your option price will come back to your entry point. Example, whatever option you are following is currently $1.00, at 11:20 AM you notice the day range is $1.48 on the high side, and $.77 on the low side. if I’m looking to make a purchase, then I’m going to set my ask somewhere in the $.82-$.85 range, if I make the purchase, I have limited downside risk. And my ratio is greater than 2 to 1.
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