The churning is on.
Market is undecided about which way to go over last two days. Yesterday was another day of going nowhere.
As mentioned many times in the past, flat days are never good for option buyers. We lose money even when stocks are staying where they were.
Losing money is something we know very well, but losing it for no movementin the stock price looks bad but that is how options work. The dice is loaded against the buyer but we still keep rolling it.
Position at close yesterday:
We are back to where we were two days ago.
We wait with the trades. Let the market do the right thing for us.
Trade cautiously, trade profitably.
Disclaimer: This post and examples are for teaching purpose only and are not meant as advice/suggestion to trade in these stocks. Trading in Futures and Options can lead to big losses and should be done with appropriate knowledge and advice only. Mentioning the stocks here does not imply that I have a trading position or likely to take a trade in these stocks.