I learn things the hard way too...
I discovered options about 3 weeks ago, and since then, I haven't bought a single common stock. Anyway, after being up 121% for the year, I'm now up only about 40%. Everyone was warning me about how risky options are, and how you should take your profits and run. I would hear nothing of it. The CPQ news last week hammered my DEC march 75 calls. I originally bought them for $1, they ran up to 3 and something, and now, I can sell them for 1/16, after commission, I'll have $7.75 left. I still have profits in HWP, MSFT, CSCO, USRX, CUBE, and some others, but on all of these, I'm about 70-80% away from the highs of last week. |
