Based on his screen shot of his positions. The option profit was about $1300 or $1400 less than the loss on the long contract. I believe if he does nothing, he will lose about $1300 or so.
Question. If he felt the SP would go up, what is the difference if he simply went contract long and put a stop loss for 21 points? I don't see any difference. If this strategy was so good, why isn't everyone doing it?
Do you know what Sunk Costs are? They're sunk. They're gone. Nobody owes you anything on them, and to behave as if they do is to invite disaster with both hands. Here, I'll make it easy. https://corporatefinanceinstitute.com/resources/knowledge/economics/sunk-cost/ https://en.wikipedia.org/wiki/Sunk_cost So the *sound* idea is to work with what's there, and go forward. "What's there" for the OP is a $1.25 max loss, and an ES delta that approaches zero. So for shits and giggles sake, what about buying a call [and/or spread] at 2930?? Cheapest to be had, *and*would wipe out the $1.25 loss. YOUR idea? Wipe out the insurance that bought the OP peace of mind and δ= 0.0 So, it's now up around $90, Russell? Okay, well, Step One will be for you to learn to ask a cohesive question that can be answered. So, your 'question' notwithstanding, the OP bought the market, then bought insurance. The market sank, his insurance will cover all but $1.30. End of story. You run hot and cold. Got it. This is not forexland, trade2??, blaster_zone, or any of your old hangouts. This is ET. Welcome! But don't whip bullshit around and expect applause.
Yes, you do seem to like banging on about this. But I notice that... A) You stated you've had an account for only one week or so... https://www.elitetrader.com/et/thre...-back-to-the-table.335422/page-4#post-4916173 B) Your account at the myfxbox link in that post is now missing. Hmm!
I could not agree more Simple ATM married PUT so max loss = cost of PUT and some booked profit on soled Call I am still waiting to see if OP will disclose what was his Sold call position, Yes he says he made 5 point on the soled call , but was that part of a collar? if so what was the original point of putting this on? By the way TOM Ops Capital ( Underlying ES Long) is protected with that 1.25 diff but his real cost of trade is the PUT cost!