Tomas Hermensa said:LOYAL AG said:This is bad advice. OA is a legend here and I'm not questioning the trade itself but the poster you responded to has to learn how to successfully trade options, not blindly follow the board's legends. Entering options trades you don't understand and can't manage will lose you a lot of money quickly.fastgreens said:clinto said:
I'm new to options, have been learning a lot the past month or so and think I'm ready to buy my first call option, looking at the April 16 apple, what all goes in to y'all's decision on choosing a strike price?
Good time to start with a couple OA1 recommended $GM April 16 $60
Truth. You really need to know why, how, and when to exit before getting into any sizeable options investments. I would, however say that paper trading or trading very small dollar options plays is the best way to learn. You basically have to screw things up in every way possible before you learn to recognize how to spot that situation again and to formulate better plans to deal with those. For the new folks on the board I would highly encourage getting a paper trading account and with that try to enter a lot of the trades you see on this board to experience them without risking your real dollars. In the meantime you can just safely park your real money in TSLA $900 weeklies.
While I agree that no one should ever listen to me on this subject, I'm not sure how a couple calls at approx $2 premium loses lots of money???