Thanks OX. If I have one specific trading failing, it's that stubborness of holding til 'death do us part'.
Still holding some JNPR calls, expiring tomorrow. Bid 0, ask .02.
But, life is uncertain.
A few years ago I bought some puts on a pharma. I can't remember which.
I probably paid .25 per contract a week and a half before expiration.
The day before exp. the bid was zero, ask was .02 and I put in a market sell so I didn't have to even think about it on expiration day.
Friday morning I couldn't log into MBTrading (which is why I don't use them anymore). At about 10 AM, Tony at Tradersmarts emails me asking don't you have those XXX (whatever puts). I said probably not, I put in a GTC market sell. He says, 'To bad, they had an FDA rejection, it dropped 8 bucks overnight.
I called the trade desk at MBTrading. They said, no we didn't sell your puts because of a price discrepency.
They were now 3.50 per put instead of no bid.
Well, I screamed 'SELL AT MARKET AS FAST AS YOU CAN !!!!!"
Not too often, but once in a while you step into the pot of gold at the end of the rainbow by mistake. |
