Errata.

“…then take the max loss times that percentage, for example 80% (111 x .8 = 88.8) then round it however you like (88).”

I lost my edit button. That should read “…take the max profit times that percentage”. The example is correct.

“Yes, Michael is very generous with his expertise.” -Scott Mason

Michael is great. Before finding Michael I traded these products but stayed out of the weeklys. The liquidity is dodgy. But he has convinced me otherwise. It evens out the lumps, so to speak. Michael uses -.00864 as his daily decay. That’s a reasonable number to use. I ran the…[Read more]

You got some good answers to your list of questions. As to closing them, you can certainly hold until expiration. Since you sound new at this I’d recommend closing early for two reasons. One, assignment risk. If you don’t know how to handle that it could be aggravating. Get some wins under your belt before fretting about those mechanics.…[Read more]