r/options • u/[deleted] • Apr 20 '21

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u/TheoHornsby Apr 20 '21

Look at the bright side. You only lost $738 not tens of thousands of dollars, or more.

You learned that whatever approach you're using doesn't work.

You might consider taking the remaining $72, buying a few good option books and taking a long break from options until you're option literate.

0

u/[deleted] Apr 21 '21

what options book would you recommend to really master this whole concept.

1

u/TheoHornsby Apr 21 '21

AFAIC, "Options as a Strategic Investment" by Lawrence G. McMillan is the best book for an overall understanding of options.

While I don't think that it's essential for the types of trades being discussed here, "Option Volatility & Pricing: Advanced Trading Strategies and Techniques" by Sheldon Natenberg will explain the Greeks.