You Can’t Win All The Time
Friday resulted in my first investment loss with options. One leg of my condor went against me on a news announcement with almost no chance of recovery. I ended up losing a bit more than my gains from last month.
The important thing about losses is to learn from them. The lesson here is to make sure you know the whole story about a stock before investing. I was unaware of the pending news release. Had I known about the situation I wouldn’t have opened the condor. In the future I will be more careful before opening a position.
On another note I have added some more photos to the gallery. I still have more to add but it’s a start.
on July 4, 2006 at 12:04 am
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It is tough to always know ahead of time when news stories are planned for every position you open but you definitely need to pay extra attention when you see extra juice on the IV. I have fallen into the liquidity trap before and scan every message board and news center first when I see that situation..