thanks but my method is very accurate and I get out very quickly ...less than a $1 stop if wrong, so options dont scare me I actually exited as we are sitting on support and the fact that I gave back most of my paper profits yesterday spooked me and i wanted to book the $1.50 or so profit.....shorting this marke is not fun.......it seem,s like every bounce is capable of running up $3.
I hesitate to respond after my previous misreading of your post. Options don't scare you? They should. A $1 stop is meaningless in the face of a gap opening. Or did I miss the part where you exit the trade every afternoon? Mark
How did you have a 1.50 or so profit on that trade the low of the day on that contract would not give you 1.50 profit even if you could have covered on the low?
I sold the call very near the high on Wewdnesday.....my profit was not all gained today.... And mark, no worries your advice is appreciated, but that is why I trade the SPY for now........I have never seen it gap up more than about $1....i find a $2 or $3 gap up in this environment unlikely and am to be honest, willing to risk it on the SPY.....no chance in hell I would risk it with google though. And now we are breaking bebeath the low...oh well, thats trading
You told us yesterday where you shorted the call, thats why I quesioned you since there was not 1.50 in profit to be had in the market.