Vlispxpert's Underground

[vlispxpert]

The hardest rule for ops new trader is to understand the further you are from the money, the higher the odds you WILL lose...long term, you could be around $10 out of the money...I wouldn't go any further...

Short term trading I have these hard rules:

Morning the day before ops expire $4 max out of the money
Afternoon the day before ops expire $2-3 max out of the money
Morning the day the ops expire $1 max out of the money
Afternoon the day the ops expire buy the strikes OVER the current price...

and 1 hour before ops expire I try to be completely out of ops...unless market all out dumping/running depending on the op...I will only buy if the price almost on top of strike price...I'm rarely in ops last hour of expire...

I can & do sell puts often when it's time to profit...reposition to new levels according to time of day...this is a HARD rule & must be followed to limit losses...IMO