Recent content by AlanInFinchley

Thanks! I actually feel very fortunate that I managed to learn this lesson without getting burnt (except for the stress of this weekend). Looking back, there have been a few times when I have had similar positions open just before expiry, or have been considering opening such positions when the...

Unless your options end up just in the money and are then auto-exercised by your broker. See the thread entitled "Sleepless Weekend", and then imagine that it had been Goldman Sachs at $150 a share rather than Citigroup at $4 a share :D

Hi, I just wanted to share my experience of this past weekend. I had bought 3,000 contracts for Oct 15th $4 puts on Citigroup. I picked them up for a cent each, and with commissions they cost 1.3 cents each. Anyway, on Friday they peaked around 8 cents, but I hung on too long and the price was...