You can roll your position forward if you're sure it will go up. Otherwise the greatest tool you have is risk management. Limit position sizes and don't get stubborn and go down with the ship. I pick losing trades here and there but very rarely keep them until they are worthless. I also trade small position sizes. Sounds like you pretty much have the right idea if you're making 50k in a week. As far as TMUS goes. I was just looking at it. Seems like you have the right idea. Ask for 108 strike is about 330 now. A little more and that 180 bid should jump. I dont see why you shouldnt be able to get at least 300. Good luck. Let us know how it goes. Always glad to see new traders here.
think about options as penny stocks. they can go to zero any time. options lose value even when the stock is at same price. weeklies are even riskier. so, you have to take gains and keep rolling. that way you are playing with house money. for example you have 10$ strike and you put 250$ risk. you have gains. take gains and buy another strike with same amount 250$. you just keep rolling the strikes with the same original risk amount.
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