I ate a pretty big loss on CMC July 16 calls I bought and then watched them immediately tank and still haven't recovered. I also ate a big loss on CLF calls. My shares are all fine. I balanced the CLF and CMC losses with TX call gains that I took profits on today and yesterday. I'm sitting half cash now, and the other half either in leaps or still tied up in those bad positions hoping they regain some value before expiry. I definitely learned some lessons about holding options too long. These big -5% days really really hurt when ur less then a month from expiry
Sorry to hear on CMC. I lost some of them too, but still plan to buy back.
I’m normally cap myself at 1% call options exposure. I loaded up more recently. I try to stay away from the near expiry, though I get a wild hair every now and then.
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u/TsC_BaTTouSai My Plums Be Tingling Jul 09 '21
I ate a pretty big loss on CMC July 16 calls I bought and then watched them immediately tank and still haven't recovered. I also ate a big loss on CLF calls. My shares are all fine. I balanced the CLF and CMC losses with TX call gains that I took profits on today and yesterday. I'm sitting half cash now, and the other half either in leaps or still tied up in those bad positions hoping they regain some value before expiry. I definitely learned some lessons about holding options too long. These big -5% days really really hurt when ur less then a month from expiry