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July 2nd, 2012 at 8:45 am
Good Morning! I'll be hanging out here most of the day. I have an observation to start the day, something I've not posted up till now. Last week on Friday I bought back some FB puts which had been sold to open a few days prior. My intent was to roll these puts for profitability. But here's the point…….when I say I'm going to 'roll' something, that means (to me) that I'm going to 'roll' that trade to a better opportunity. The 'roll' may or may not involve the equity that was closed beforehand. The cash could be rolled to another trade which might provide more opportunity, or even 'rolled' to cash. It's just a clarification about how I think about these things. It's not the classic definition of 'rolling' a trade, but then I don't think or trade in classical ways. But I think it's important, because when you close a losing trade you have to think clearly about where that money is going next. It does not HAVE to go back into the trade that just lost you money. You can 'roll' it into another trade, a better one.