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Options keep creeping up in various topics, and I love the discussion behind them. They definitely deserve their own thread. I especially would like to feed on some of the knowledge from the veteran traders on this forum.
First question:
Which is the truer maxim for the options trader?
"A bird in hand is worth two in the bush" or.. "Stick to your guns".
My own concrete example, is that I am sitting on a good profit in some out of the money calls on LULU, which has definitely come to play today. These were bought with the intention of playing their earnings in September, and my eyes are fixed on some outlandish gains. But although I am still bullish on the stock I'm somewhat worried the congressional shenanigans might unfairly put LULU in the slaughterhouse before they report, leaving my options worthless.
What say you, options traders?
First question:
Which is the truer maxim for the options trader?
"A bird in hand is worth two in the bush" or.. "Stick to your guns".
My own concrete example, is that I am sitting on a good profit in some out of the money calls on LULU, which has definitely come to play today. These were bought with the intention of playing their earnings in September, and my eyes are fixed on some outlandish gains. But although I am still bullish on the stock I'm somewhat worried the congressional shenanigans might unfairly put LULU in the slaughterhouse before they report, leaving my options worthless.
What say you, options traders?