Tomas Hermensa said:

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LOYAL AG said:

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fastgreens said:

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clinto said:

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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?

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Good time to start with a couple OA1 recommended $GM April 16 $60

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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.

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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.

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gigemJTH12 said:

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So I have lost my ass on AAPL. An embarrassing amount of my account. I have let like 3 different large sets of call buys expire to their death.

Dumb trading, I know.

I'll be sick if I do miss the rip after losing all that money.

Should I buy something farther out? I cannot afford to buy another set a month away and lose again on it.

If in my shoes, what would be your play?

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fastgreens said:

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Tomas Hermensa said:

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LOYAL AG said:

---

fastgreens said:

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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

---

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.

---

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.

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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???

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AG 2000' said:

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fastgreens said:

---

Tomas Hermensa said:

---

LOYAL AG said:

---

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

---

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.

---

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???

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You talking covered calls or naked calls?

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fastgreens said:

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AG 2000' said:

---

fastgreens said:

---

Tomas Hermensa said:

---

LOYAL AG said:

---

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

---

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.

---

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???

---

You talking covered calls or naked calls?

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Naked I think lol... I'm talking buying two calls and selling for the premium.

I believe I can lose a total of $402.00 or something like that on the GM calls. I agree that it's "real" money, but definitely an amount I'm not afraid to risk following the footsteps of OA1... and I guarantee a heluva lot less than others on this thread

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Maximus_Meridius said:

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Holy hell, are you guys looking at the IV on the EBON 3/19 options?!

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CrazyRichAggie said:

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FB rocket!!

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AG 2000' said:

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fastgreens said:

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AG 2000' said:

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fastgreens said:

---

Tomas Hermensa said:

---

LOYAL AG said:

---

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

---

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.

---

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???

---

You talking covered calls or naked calls?

---

Naked I think lol... I'm talking buying two calls and selling for the premium.

I believe I can lose a total of $402.00 or something like that on the GM calls. I agree that it's "real" money, but definitely an amount I'm not afraid to risk following the footsteps of OA1... and I guarantee a heluva lot less than others on this thread

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Sure. But I think the point is, that option x100 multiplier can get pricy quick. And if you don't have a sell strategy, you could watch it all go to zero. You're right in that the loss is 'capped', but just blindly putting down money like that with the idea of it either goes to zero or infinity will burn through your capital quickly as well.

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