Down 22% on Brk.B options. Wwyd?
Im a gambling addict. Used to lose $1000s on weeklies and 0dtes. I wanted to give options another shot, but I am just not a good trader. I thought I was being responsible by buying 4 months out, but in a matter of 4 days my options are down from 11.40 ea to 9.00 ea.
No excuses I was just being stupid. I want to sell and quit but I need advice.
I have 3 of them, 500c expiration 8/21. What do I do?
Posted by KingAshkon
3 Comments
Could sell calls a strike or two higher. If it comes back you won’t profit as much but if it stays down you won’t lose as much.
Otherwise I’d probably just get out and find a more confident trade.
Would you buy them today for $9? If you wouldn’t, then sell them.
You could also hedge by selling, say, the 510 calls with an earlier expiration.
You bought 4 months out. Don’t panic over a couple of days assuming you’re playing with money you’re willing to lose.
That being said, if you’re testing the waters with options why go $3k in.