(02-19-2019, 10:35 AM)ChadR Wrote: Glad this is started. My last option expired worthless a few weeks ago. Was happy that my GE put expired worthless as it was a play for the option income and I didn't want the stock. Yes it was gambling I will admit. I don't trade options much, but will occasionally. Happy to post the few that I have here.
Glad to have you aboard Chad. I must surely sound like a Vegas gambler with my forum rantings by now.
That is NOT how it is. Your GE trade was a violation of rule #1 on my conservative options trading list. I learned that hard lesson when I was a rookie trader 25 years ago. Never ever, ever, ever put yourself in a position where the market can force you to own a stock you won't be comfortable owning for at least a few years. You'll be inclined to do something foolish like sell it for a loss now, or even worse hold onto a dog stock praying you just break even in five years. Both are a very poor allocation of capital.