rookie trading on expiration

Discussion in 'Options' started by Danny Soprano, Jan 10, 2014.

  1. I have been day trading options for almost 6 months now, and ive lost a ton of money. I've decided to regroup, rebuild and trade smart because i now realize how stupid i was. after a much needed break i hopped back in today and was successful. the trade was as follows:


    I watched as the stock opened up @ $139 and dropped a couple of dollars the first minute. As always the stock seemed to get pinned so I looked to see which put was crossed the most and I determined it was the $1135 put. When I decided I was going to buy it, it was ITM, so I waited a few minutes and was able to purchase:

    2 goog jan 10 $1135.00 at 2.90

    As i expected, the price of the put began to rise. The selling of the put was:

    2 goog jan 10 $1135.00 at 4.40

    My target price was 4.30 but i managed to sell it at 4.40.

    I am a new to this and any criticism will be appreciated.
     
  2. barney-

    barney-

    If you saw GOOG open @ $139 today, you must have pretty good eyes ;)

    $1,139 may be more likely.