I normally just day trade options on Tuesday and Friday and since every Friday going back 3 weeks has been down I figured it would drop today too. So I bought a put last night, 0.30 and was PLANNING to hold through the day today and sell high.
Instead I PANIC SOLD at a loss, then did the same buying a put for 1.00 and selling it at 0.80. I made a little back with another I got at 1.82 and sold for 2.00 or so... Had I held a little longer, I would have made $1000 instead of losing $15.
B 0.30 - S 0.20 // Current value 3.25 / Loss of 10$ and potential gain of 300$
B 1.00 - S 0.81 // currently 6.04 / Loss of 20$ and potential gain of 500$
B 1.82 - S 1.95 // Currently 6.70 / Gain of 13$ and potential gain of 488$
Don't panic sell! Have a plan and STICK TO IT. LEARN FROM YOUR LOSSES