CTRM up to .37, volume is 389.7mm

I fudged up yesterday and need some advice on how to not make the same mistake again. Luckily I still made a profit, but not near as much as I should have and hopefully others can learn from my mistake as well.

Quick background, I'm trying to work on my stops as I have lost more than I should have in some trades and it's an area I need to improve on. That said, I was in the FUBO 2/4 $35 calls. I went net free on 50% when I had the chance. I also wanted to make sure I locked in at least a 75% profit overall so I initiated a $1 trailing stop. The activation price became $3.3 that I believe was based on the last price (not ask or bid although I may have screwed it up and put it as the bid I'm guessing). I don't know why the stop was triggered and I also don't know why it ended up selling for so far below the $3.3 mark.

In hindsight, I should have waited longer to initiate a trailing stop given the time until expiration. I've just had options where I went net free and kept some to run but they have essentially maxed out there and then pulled back so I didn't want that to happen and lose out on profit. However, what I did clearly cost me a lot as they never even had a chance to run.

What can I do different in setting up a trailing stop to not have this happen?

wmitchell said:

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leoj said:

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0708aggie said:

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OA, you still in NET. I went net free a while ago and its running today.

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Can't speak for him but still in it after a little profit taking. Options are still a month out and it looks like it wants higher.

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Would love to know a PT on this Feb19 100C

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When it crosses $87 wherever the strikes are at is when I'll be selling a lot of remaining net free's.

Long time lurker. Thanks for all that you do OA! I missed the signup but I hope you'll do another seminar or sell pre-recorded lectures. I am really excited to learn more about investing.

GreasenUSA said:

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Dang, just got caught up on the thread this morning, and didn't get to register in time. Crying/ball-gag emoji.

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Shoot me an email - there is live and a recorded code from what i can see and we can potentially share (need to look at if I can make it live or need the recorded version)

willmitchell87 at gmail

oldarmy1 said:

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wmitchell said:

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leoj said:

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0708aggie said:

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OA, you still in NET. I went net free a while ago and its running today.

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Can't speak for him but still in it after a little profit taking. Options are still a month out and it looks like it wants higher.

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Would love to know a PT on this Feb19 100C

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When it crosses $87 wherever the strikes are at is when I'll be selling a lot of remaining net free's.

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Thanks - just set an alert on NET

oldarmy1 said:

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wmitchell said:

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leoj said:

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0708aggie said:

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OA, you still in NET. I went net free a while ago and its running today.

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Can't speak for him but still in it after a little profit taking. Options are still a month out and it looks like it wants higher.

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Would love to know a PT on this Feb19 100C

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When it crosses $87 wherever the strikes are at is when I'll be selling a lot of remaining net free's.

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youre expecting an ATH here?

SKLZ starting to move..

CastleRock said:

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Got in on FUBO this AM at 39. That's looking like a busted trade too.

Might need to step back and watch this thread, re-evaluate.

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There was a lot of speculation on where FUBO might wind up this morning, but for the most part that wasn't (at least to me) a signal to buy here and hope for the run-up, but rather where to sell the remaining FUBO calls that were discussed on Monday. They are way up. Just wait for the entry posts and don't FOMO into plays on the back-end. Just trying to help and not harping on you, I know the feeling.

My portfolio is finally correcting itself a bit after a crazy start to Jan

Are you able to watch it live or would you have to view via the recording?

I do think it retests that $88+ high, yes. Will this be a trend refresh to take it over $100 I don't know but it will eventually be there.

Rice and Fries said:

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Aggies1322 said:

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Anyone else follow OAs EEM play?

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Hello Friend.

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Here

CastleRock said:

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Mr President Elect said:

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CastleRock said:

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Got in on FUBO this AM at 39. That's looking like a busted trade too.

Might need to step back and watch this thread, re-evaluate.

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There was a lot of speculation on where FUBO might wind up this morning, but for the most part that wasn't (at least to me) a signal to buy here and hope for the run-up, but rather where to sell the remaining FUBO calls that were discussed on Monday. They are way up. Just wait for the entry posts and don't FOMO into plays on the back-end. Just trying to help and not harping on you, I know the feeling.

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Thanks, although for the options to appreciate, doesn't the underlying stock have to rise as well?

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Instructions: Sell the open, feather sells into any move upward and if keeping some be ready to dump.

I sold some at the open and then I dumped.

third coast.. said:

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CrazyRichAggie said:

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oldarmy1 said:

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COTY channel confirmation

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Come on $8

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what are the expectations if it breaks through $8?

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For me... To have dug myself out of a hole and at least break even given my expy is 1/15

Ferris Wheel Allstar said:

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One thing this thread has taught me, I do not have enough cash on hand to make all these trades. lol.

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Agreed - and I feel like I miss out on all the huge ones! lol

Fidelity users - have a friend that has his 401k with them. I know nothing about the Fidelity platform other than what is posted here. He is looking at beginning to learn to trade and open another account.

Is the app good?

I know the IBKR and TOS apps but nothing about Fidelity. Thanks for any feedback.

I've messed up several trailing stops, stops in general are hard on options because the price can move so dang quickly on a small dip and your sell order can get hunted.

To that end, if I'm of a mind to lock in a gain on options I just sell the contracts outright to ensure I hit it. Need some time to work on the "stop" craft but this removes the doubt for me.

with that thought do you hold some shares long? would be my thoughts

wmitchell said:

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Ferris Wheel Allstar said:

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One thing this thread has taught me, I do not have enough cash on hand to make all these trades. lol.

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Agreed - and I feel like I miss out on all the huge ones! lol

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Just wait until oa talks about buying spy puts (multiple) and then buying shares against them at 3am. Meaning at least 70k in spy shares, and I don't think 2 spy puts is the kind of volume he plays in

The crazy thing is I'm sitting on 50% cash and the portfolio is up 25.6% for 2021. Really wish I would've put that to work.

third coast.. said:

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CrazyRichAggie said:

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oldarmy1 said:

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COTY channel confirmation

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Come on $8

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what are the expectations if it breaks through $8?

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Tradiestewie has a target of $9 to $10.

Yes but the discussion this morning was in relation to a trade that nearly everyone was more than net free on, so yes the underlying stock would need to move for the options to move and the prices listed for those exits were more of an optimistic possibility.

Also regarding the ZOM, I don't think anyone was buying ZOM this week on here. A lot of the board bought ZOM around six months ago when it was around or below $0.20. I believe someone even asked where to buy at this week and they were told not to. So all the exictement was more geared towards dumping some shares and taking profits.

This is a very friendly board, be sure to ask about entry prices if you are unsure.

FJ43 said:

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Fidelity users - have a friend that has his 401k with them. I know nothing about the Fidelity platform other than what is posted here. He is looking at beginning to learn to trade and open another account.

Is the app good?

I know the IBKR and TOS apps but nothing about Fidelity. Thanks for any feedback.

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The phone app is not great. Active Trader Pro on PC seems to work well, but I have never used another platform, so I don't have anything to compare it too.