Help with my call expiring in the money...

Posted by special_kt on October 13, 2010 (01:02PM)


Ok this was my first Option call

FXE Oct 16 2010 121.00 Call

3 days until expiration and thankfully I'm in the money, but a little confused about my best next move...any advice?

Posted by diamondthor on June 10, 2011 (07:00PM)


Hey Guys,

I am in a tricky situation and am trying to figure out how to get out for the least damage.  I am in the gaming sector and have a couple of long calls bought.

I am long-term bullish on MGM and purchased some otm leaps a long while ago before I really understood the value of trading the vertical call spread and mitigating my risk a bit. 

I am still bullish on MGM however with the recent weakness in the market and especially the gaming sector my calls have really tanked.

I am just trying to get some ideas on the best way to stay in the market however limiting further risk without selling out my position.

Do you think it would be smart to sell some OTM calls to try and get a premium back, try some type of other option strategy, or simply just take some tums and wait it out. 

As I have already lost a chunk I really do not want to 'cut my losses' and move on as I am long term bullish and think they may come back eventually but I am hesitant @ that with the recovery taking much longer than I expected in the Vegas sector.  I am also beginning to get worried about the bubble forming in China.

I look forward to hearing your ideas.

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