Thread 60842810

How do I actually start winning at options trading? I've been raped 5 times in a row and immediately exited my one position that would have made me back all my money (3 week to expire LLY calls after it went in the toilet). I've lost thousands.

>>60842810 (OP)
30min pivot reversal, market rewards you if you wait for entry. Avoid buying breakouts

>>60842858
Look for this near the pivot point

>>60842810 (OP)
Patience, stop losses, and luck. Even then you're going to get raped more often than not. Like 99% of options expire worthless they are designed to be used as a hedge not swing traded like a stock

>>60842810 (OP)
it's gambling

>>60842920
>stop losses
not really a thing for options, they're too volatile

>Like 99% of options expire worthless
this is a myth, like 60% are exercised and of the 40% that aren't 90% of those expire worthless

wait. for weeks if you have to. understand greeks to use options to express a specific view on an intraday event (jackson hole was perfect for 0dte ATM UVXY puts [10x], everybody was crazy long vols into that https://www.barchart.com/stocks/quotes/$SPX/volatility-charts intraday implieds were like 25 in the morning) or potential for delisting over the next two years, and know how to stop yourself out of it or otherwise be willing to lose the entire premium if whatever you're doing regularly goes no bid

>>60842947
>not really a thing for options, they're too volatile

So you just hold all the way to zero?

>>60843029
I understand the Greeks, it doesn't really do much when you need to make big calculated gambles on certain things. My account is too small to sell options.

>>60842810 (OP)
Buy LEAPS instead and has patience

>>60843064
sort of

>>60842920
>options
>stop loss

>>60843147
You cannot really win on options without unlocking writing.
Binance allows some users to sell options, but they obviously just have crypto.

>>60843944
>You cannot really win on options without unlocking writing.
No there are people that make money buying I just suck at it.

>>60843961
People making money only buying are just doing plain trading and using options as leverage.
If your whole strategy is about that, you don't suck at options. You suck at trading.