Australian (ASX) Stock Market Forum

Option Traps and Gotchas

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Yes it did seem a bit much for only 2 hours to go.

I know what you mean about distractions!

The market is very unforgiving and doesn't take any excuses.

Good luck with that option position. It bounced off the 35.00 level today so it could be ok.
 
Hi You'all.

Re-discovered this excellent thread !

Got caught today and I thought I'll share !

In the process of rolling a bear call (part of a larger strategy) with a local broker, I tried to leg it rather than ring through a four leg combo, (sometimes I pick up price improvements). Bought back the front month and a back month wing early in the day as the oil stock started slipping. After lunch the market took a pounding and I didn't get to sell the back month and front protection, gone from delta neutral to a huge overnight long oil.
 
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@cutz Oil rallied during the UK session (green) but backed off in the US session (tan). The overnight session is not over yet, but you might have caught a lucky break. No doubt you will be fixing your mistake on the open tomorrow.

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peter2 said:
@cutz Oil rallied during the UK session (green) but backed off in the US session (tan). The overnight session is not over yet, but you might have caught a lucky break. No doubt you will be fixing your mistake on the open tomorrow.
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Hi,

Yep there was a healthy rally before I went to bed but met with disappointment when I woke up.
 
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