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Direxion Daily Emrg Mkts Bear 3X ETF Message Board

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  • cmegladon cmegladon May 28, 2010 12:42 PM Flag

    I'm adding....watch the dollar.....

    My 110s just pulled me out of the mess.
    Now, to make money.

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    • cmecladon,

      you are very lucky, that news broke out in Spain, otherwise you could have been wiped out caught holding the bag with a worthless call option...

      I am at all cash right now, but I very glad that you are back in the money with that last burst...

      to prevent putting yourself in another situation like this where you risk losing everything, consider giving yourself at least a 3 to 5% cushion from the strike price, so you won't put yourself in that predicament anymore.

      and as a safer precaution, only day trade options near the money, since a 3-5% cushion can easily be broken in an overnight hold due to unexpected breaking news that would result in you waking up in the morning finding our options are worthless... don't let that happen to you, so please only consider day trading options, that way you can be near the money with high leverage as long as you have at least a 2 to 3 dollar cushion, if you choose not to go as high as a 3 to 5% cushion.

      • 2 Replies to sah1958x
      • These SPY put options are only for day trading. Any overnight holds are in some EDZ, FAZ etc or opposite plays.
        I don't think anyone wants to be the long side over this weekend.
        I am tinkering with how I may play it for the close and beyond.

      • cmecladon,

        you are very lucky, that news broke out in Spain, otherwise you could have been wiped out caught holding the bag with worthless PUT option contracts...

        I am at all cash right now, but I very glad that you are back in the money with that last burst...

        to prevent putting yourself in another situation like this where you risk losing everything, consider giving yourself at least a 3 to 5% cushion from the strike price, so you won't put yourself in that predicament anymore.

        and as a safer precaution, only day trade options near the money, since a 3-5% cushion can easily be broken in an overnight hold due to unexpected breaking news that would result in you waking up in the morning finding your options are totally worthless... don't let that happen to you, so please only consider day trading options, that way you can be near the money with high leverage as long as you have at least a 2 to 3 dollar cushion, if you choose not to go as high as a 3 to 5% cushion.

 
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