pls change the following in ur outline reply..forget about text book stuff for now..we are only interested in our TWS layout..so.. strike = the call and put levels we will select to monitor and trade delta = how much the price of our monitored levels will move in relation to our stock price movement theta = how much we are going to lose in paid premium (the level we open trade at) if we hold till tomorrow can you also add what the following means..not sure what question no. t is..but u will be doing the numbering ! question..what is Range J_S
You're not being terribly subtle. "JL's" first post is a week ago asking how/what to trade and you sweep in and you're mentoring him? No strike IV, so you're ignoring the vol-line? I could write on a napkin what you know about vol-trading or options in general. You made $10 and JL is all excited? This site has jumped the shark. We have this JS fool talking to his f*cking hand. omfg, what comedy. yes..3rd chart..price retraced..if i had not put in my lmt order and took profit..then it was halfd vry qckly..in time it will become apparent why i put lmt where i did..this time it worked out for the best..other times it will not..but that is trading..and that is why u need to know what to do if certain things happen..or don't happen..it is common sense really! So the kid, JL (your sock-puppet right hand), is supposed to glean any information from a chart of a 3-day 40-delta call on AAPL... right. What a joke.
@J_Smith Maybe he is saying that he is not yet comfortable using real money? He's barely familiar with stocks. And, now he's being introduced to options..
Assuming that you're not this JSmith character (doubtful)... cut this guy loose, NOW. Read everything you can about trading vol. Limit your ET time to the option journals that are worthwhile. Get some intro texts from Amazon; Natenberg, McMillan, Baird, and a general primer on derivatives (Hull).
I'm not going to cut somebody loose that has good intentions to help me learn how to manage risk on trades and can potentially help my future career as a trader. Even if it doesn't work out I'll still have knowledge and experience to take away from the situation(more important than losing/making small amounts of money at my level). Now if you don't mind me asking, do you day trade full time? Also if you would like to add to helping me out in my journey I appreciate any advice. I'm open to everyone's opinions and what you think I should do as well. However im going to keep learning as much as I can from J smith.