It's a tricky subject - risk/reward is different from the expected value since it includes risk-takers own unique utility curve. For example, imagine that you can steal a billion but if you get caught you will go to jail for life. Is it a good risk/reward? Well, it depends on your own personal understanding of what is good, how bad jail is etc.
close out, read some books, and trade in one year's time when you have paper traded. From your language you do not know what you are doing. Learn about options at 21stcenturyinvestor.com and unless you understand every lesson there, give up.
In my library I have a book entitled Alternative Investment Strategies And Risk Management: Improve Your Investment Portfolio's Risk-Reward Ratio by Etukuru Updated in 2014 it familiarizes the reader with risk management principles and seek out alternative investment strategies to maintain and grow your capital. It introduces the reader to various alternative investments and risk management concepts in risk metrics, quantitative models and exotic options; commodities, managed futures, private equities. All in a relatively easy to understand language. Should be able to find it online if it's not at your local book store. Also in my library are the following: -Option Pricing & Volatility (2nd Edition)..Sheldon Natenberg -Options as a Strategic Investment (5th Edition)..Lawrence G. McMillan -The Complete Guide to Option Selling: How Selling Options Can Lead to Stellar Returns in Bull and Bear Markets (3rd Edition).. James Cordier and Michael Gross - Options, Futures, and Other Derivatives (9th Edition)..John C. Hull - Getting Started in Options (8th Edition).. Michael C. Thomsett - Option Spread Trading: A Comprehensive Guide to Strategies and Tactics..Russell Rhoads - Trading Weekly Options ..Russell Rhoads Best Regards SL
I have to photograph my books I have too many to list-and yes,I've read them, and no I'm not a billionaire-it's lonely out in the cold as a retail trader