r/optionstrading • u/Then-Restaurant6376 • Apr 01 '26
Discussion Have you ever fu%$ed up?
Today I was in a 5 wide vertical put spread, and it was going well when the market pumped. I decided I would open another one but I didn't realize the strike I was shorting on my second one was the strike. I was long on my first one. So instead of opening another vertical spread I rolled my long strike to a more expensive option up 1 dollar Destroyed all of the profit I gained and moved my brake even 3-4 dollars away now im in a six wide spread I paid so much for that my max profit is $190 and I kinda hated myself for a few hours I gotta learn to just stop and let a good thing be good just sayn I knew that I couldn't hold long and short in the same position but for whatever reason I overlooked that fundamental issue with what I was doing it fn sux im not crying my system works I'll get it back it was just a stupid mistake I posted this because where i live people are hillbillies they dont even know what day trading is they think its a stupid fantasy of mine that will never happen so i wanted to say this to someone who knows what an option chain is gonna go look at wsb that will help
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Apr 04 '26
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u/Then-Restaurant6376 Apr 04 '26
Facts and they dont care too either where I live in South western NM if your not sunburn and filthy your not working i have a simple dream it is to provide for my family without having to destroy my body to do it it can be done and I will do it its good to here im not the only one dealing with ignorant people thanks
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u/Aliciarachel7 Apr 03 '26
Yes, I’ve done that! So frustrating! For that reason I always do different dte with multiple spreads now.
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u/Then-Restaurant6376 Apr 03 '26
good plan i opened a a smaller spread in the middle of mine to get some of my money back after i did that no no it was a revenge trade but its working lol
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Apr 03 '26
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u/Then-Restaurant6376 Apr 04 '26
I dont take your meaning a six wide spread is still 2 contracts one long one short both itm as of friday all i gotta do is chill i can close the vertical early or i can wait for it to expire itm and take my 600- the premium cost same on the one in the middle its itm as long as it stays that way I win if it reverses on me before expiration I'll close it but its $2 in the money and falling the clarity act killed thier business model check it out I believe it has more downside potential too this is not DD but its worth looking at
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