Buying Call and Put option contracts
If you are buying option contracts, do give yourself more time. Holding on to option contracts is like holding on to ice cubes - they will melt as time goes by. You will lose out to Theta (time decay).
To add on, learn to take profits off the table when you can because nobody will go poor by taking profits, even if the profits ain’t a lot. Don’t be too greedy.
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Shuseido : I have experienced my options at 90% profit gone into losses. Learn to take profit from options when profit exceed 50%..
Cow Moo-neyOP Shuseido: Wise advice!
无明小子 : profit is the point.
richmanpop : Wise advice!!
WallStreetYoda : i dont buy options that are anything under a month till expire so im not as close to the heater my ice cubes dont melt as fast usually also i have move time to be right , i should not say never i did do a few momentum option day trades (buying already expensive options due to a moving stock see it seems to have more to move )and i only put the contract for a day - a week out depending on liquidity expectations ect. but anyways my point being .less certain=more options time Vice versa
SPACELIGHT : Makes sense.
Cow Moo-neyOP WallStreetYoda: Yup. It's always good to give yourself more time to be right, and ddon't let the ice cubes melt so quickly