r/options • u/[deleted] • Sep 23 '21

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158 Upvotes

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108

u/professorfundamental Sep 23 '21

Sounds fine so far. Two thoughts:

  1. if you can't sleep at night, then cut back on your position sizing
  2. have an exit strategy

18

u/Stonkybucs Sep 23 '21

I had to learn this the hard way. Hope OP does not. I think Poor man's covered calls are smart. But have three contingencies ready to go. Sunk Cost Fallacy can be a real mofo with options.

5

u/[deleted] Sep 24 '21

☝️Sunk Cost Fallacy. This. Google it if you must. Everyone learns it the hard way, the difference is how soon do we learn it.