Hm. biggainer, I would liquidate...rule of thumb with options: cut losses early. Govols said it all: volatility's creating rediculous premiums. Of course, there's always the chance that December will be a relief. My prognosis: wait to see what the government is going to do with these autos...I would take a week before I'd get rid of them though. Govols has a good point though, bailout or no, being long autos is not a great position to be in.
Don't sweat it, biggainer, you'll make it back. That's the beauty with options!
Options for Beginners > Forum Posts
About Us
This group is for brand new option traders. If you've never traded an option, this groups for you. Although... we would like to have some experienced option traders to help us through the more difficult trades. I will start this group with a simple covered call. This will be my first option trade, so the excitement starts right away. We will be using The Options Playbook as our guide. Everybody can ask all and any questions without the fear of looking like an idiot.
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