Don’t ask me why but I placed a trade for 250 DEC20 ‘24 5C HRTX contracts. Yolo’d it. 0 thought. How do I get out? No liquidity/tiny vol. Can’t afford to exercise (+ add in the losses with the higher strike v current px). Any advice appreciated.
Posted by fleshlight6996
5 Comments
RIP gambler
You seriously traded a contract on a stock that’s hasn’t moved more than a dollar in the last year and went 3 dollars OTM expected in less than 90 days?? Don’t worry baby, I’ll hold your hand.
You get out by selling tomorrow morning.
No one has to ask you why, you said it here in the post. 0 thought.
Wow, u/fleshlight96696 makes a dumb decision
Who could have guessed?
How do you get out? You close the position.
What premium did you pay?
You do what all of us have done at one point or other in our life when getting started or making a bad decision:
You close the position on the market opens.
Make a mental note to learn from the mistake and never do it again.
Make a note also not to dwell on this nor dwell on when you make money.
If this was bread, egg or rent money, please don’t ever do that again.
If you aren’t sure what you’re doing , there’s no shame and nobody cares if you take a break from buying options to learn a little bit more about them.
Good luck , close the position, forgive yourself, learn from this and move on.