Bought this a day before the earrings. Honestly did not expect to get this much return. I sold 1 contract 28DTE this morning. Now debating on this one.
Posted by Wonderful_Law2552
Bought this a day before the earrings. Honestly did not expect to get this much return. I sold 1 contract 28DTE this morning. Now debating on this one.
Posted by Wonderful_Law2552
3 Comments
Pigs get slaughtered.
My standard advice for close/hold decisions on profitable trades is: Take all your risk off the table, bank the profit, then if and only if you have high confidence of more upside, use some of the profit to buy a new trade (like a cheaper OTM call that is further out) for exposure to more upside. That way, even if the new trade is a total loss, you still have the rest of the profit you banked from the old trade to enjoy.
Some traders let their profits run more than they should.
If they even have profits by then
I know this doesn’t apply 100% here since this ain’t just a humble brag screenshot, but “If it’s good enough to screenshot…”
Tbh if you’re wondering to yourself if it’s time to take profit then it almost certainly is. No one has ever lost money making money. And always remember that this won’t ever be the last time a profitable trade like this can happen. There will ALWAYS be more opportunities to make money, so don’t ever get hung up trying to milk every cent from a single trade.