HELLO EVERYONE I have one ES march 17 short at 2325 which is losing money today i was thinking to sell a call for 2325 expiring march 17 which will cover me some losses i also have one put for that i bought to hedge at 2320 is this good idea? what would you guys do?
Buy 35 lots at whatever price and wait until this 10 years long bullish market pays you back (so... like... 2 days?)
1) You're asking what we would do 2) This would make you earn money, hence solving your problem which is that you're losing money (correct?) (sorry I thought you had 17 lots, so buy 2 lots not 35)
I think he meant March 17th, not lots... but who knows. for all we know it could be a papertrade account
probably would be better if it was paper trading as i am not to good in it its one es future short at 2325
Since you sound lost, I would get out of positions before you have no account, then spend few years to learn how to trade.
Plant a butterfly on top of it. -- Minimal cost. -- LOTS of flexibility afforded. Sell it off or build it out as your (further, calmed, clarified) mind dictates. But remember -- as an option seller, the battle you face is δ + v ≈ Θ and when δ and/or v ≥ than that oh-so-reliable tick o'time, your position will..... "redden."
I'm not following your logic. If you are short 1 ES future at 2325, we are trading at 2360.50 right now. That is a loss of 35.50 points*$50= a loss of $1775.00. There is nothing you can do to make that go way, unless the ES drops back down. Selling 1 call would just make you shorter. Buying a put when you shorted the future was not a hedge and just added to the short delta. Unless there is a typo here, I expect the best thing you can do is consider learning more about options before you increase your risk.
I don't think any of us wanted to go there. Hooo boy. Without putting any thought into it, "Sell a nearby put and roll that puppy forward, nibbling away with put premium til you're out" comes to mind.....