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Don't laugh. ?I've got a 415, a 420, a 425, a 440 and a 450. ?Bought between 3 and 8 trading days ago. ?I sold my 460 and 470 for a nice profit. ? Before you chew my head off, I'm way up and playing with house money-Simple Guy and Doc and everyone here have been very very good to me ?:lol: )

 

I just don't know where to put the stops. ?The bid ask spread is massive on the options (sometimes $3-400), and I hate having to buy back in. ?TE- where do YOU put the stops on your options?

hey skidd, i too trade out of the money index puts, and the stop question has always bothered me, since size of the spread and the illiquidity makes advantageous exit & reentry extremely difficult if not totally out of the question. because of that, and knowing that MMs have visibility into the orders, i use mental stops & targets. wave analysis of underlying, esp doc's anals, is extremely helpful. so is a heavy dose of intuition. general rule of thumb is that unless the larger trend seems about to be violated OR time decay is a looming issue, i stay put.....so to speak. :D less stress, less commissions.

 

prtzl, thanks on that info. damn, you can't NOT learn something here every day.

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