WDIS: Two Yutes - Beginner Options Trading - April 30, 2021 - A Monthly Reset

published 1 week ago by tastytrade, Inc.

Tom explains to the yutes that unlike with most things in life--your favorite sports team, a crummy job, or buying a house--in options-trading you get a reset every month. Even if something hasn’t worked out for you, you can just get right back on that horse--even in the same underlying. Tom reminds the yutes that if a position is close to max loss at 21 days to expiration, just leave those suckers on and hope they rally. E realizes that better than rolling an iron condor, he can close it, and recenter it in the next monthly cycle. Bonus: Tom explains why you improve your probability of success dramatically by going undefined rather than defined-risk.

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