X

A little bit of heartbreak today as I watch X roll up on $49. I closed out a call spread when it was at $28. My long call was $17.50 and my naked was $50. That's $21,000 I left on the table in the past few months. The original intent was to try and hit a home run. I was on track for it and decided to leave with my single. I had the same flaw in this trade as I heard someone talk about earlier. I had an entry point in mind but not an exit point. $50 wasn't so much my exit point as it was the strike price that brought in enough money to pay for the long call so I didn't have to use any cash to put this trade on. I think I'm a bit neurotic for long-term spreads. I did fine with month-to-month trades for five years. Maybe day trading would actually suit me good.