Steve,
"I would say the best thing for you is just sit on your stk and NOT TRADE OPTIONS."
Whoa, hang on. Let's not get carried away here. Let's not confuse the "give and take" of an intellectual examination of your techniques with fear and disagreement.
Yes, I ask tons of (what may seem to you to be) simple questions, but at this stage of my game, I really need to make sure I understand all the implications of these call/put techniques, and asking a million questions seems the the quickest way to understanding them. You, Herm and everyone else are very forthcoming with your answers, and so I continue to probe and learn from your posts.
So please don't confuse the learning process (which may seem slow in my case) with fear of options. Also remember, I'm only addressing the "runaway" problem. I have no issue with the "regular" cc process.
Now let's get specific:
Steve, you said, "I held out and got 4 for most of my 37.5's and 3.25 for other parts."
A great display of patience on your part. Under "normal" circumstances, you usually sell your calls for 2-3 points. What told you to wait longer in this case? Preaching patience is one thing, but can you demonstrate the process by which you came to the decision to wait longer than usual? When I was selling my calls for 2 5/8 I said to myself, "I better not wait too much longer or I'll get burned for being too greedy." But it turns out that I was burned for not being greedy enough. There seems to be very fine line between being greedy and being a smart investor.
Dont give up on me yet, I'm just picking your brain!
Thanks,
Mark |
