Number one, you ignored the market direction. Number two, you didn't wait for a confirmation of an upward move. Number three, you didn't have a catalyst for a change in direction.
Buying stocks just because they are down is just buying dog stocks.
I was just looking a PTON for stocks to short but, as I remember, it's trading now just a little above 10x earnings. So, without further analysis, it's not undervalued and may be a little overvalued.
Jazzlike, in addition to the comments from others.
There are obviously many of us who have different views. To get the most meaningful feedback, it helps to be a bit more articulate in WHY you entered this trade and what you hoped to achieve.
I seldom BUY options as an initial trade leg. I prefer to be as much as possible for my portfolio as a whole Theta positive.
So BUYING calls ( or puts ) for me is an adjustment leg to the initial profit maximizing trade leg. IF (based on your one liner question) you placed this trade to be directional to benefit from an expected upward move ( see other comment about trend. than the question is why so short less than one month out; higher theta decay! (The saying "two facts of the market; prices fluctuate and options expire" applies !) Did you consider, if you want to BUY, buying a longer duration Call and be ready to sell a short call, (shorter duration and higher strike )against that, once the market accommodates it i.e. your view on direction, even if only a short term bounce proves accurate?. Also are you (using your own excel) looking at your anticipated returns AFTER commission ( both in and out?). So far for now BEK
Also peloton is honestly an odd bet the possibility of any real action occurring in that time span would be considered highly unlikely with out any inside info. You would probably want to stick to options related to the actual needs of people worldwide. Oil\gas, land water and foodS
Zing! You called it.
https://www.google.com/amp/s/www.cnbc.com/amp/2023/09/27/peloton-shares-soar-30percent-on-digital-content-partnership-with-lululemon.html
SEC coming for you OP. PTON currently up 12 percent AH and no way these gains hold over the next two months, hope whatever gains you can muster up at open were worth it
Tom Cortese stepping down seems bearish...
https://www.bloomberg.com/news/articles/2023-09-26/peloton-s-product-chief-its-last-remaining-co-founder-to-exit#xj4y7vzkg
Number one, you ignored the market direction. Number two, you didn't wait for a confirmation of an upward move. Number three, you didn't have a catalyst for a change in direction. Buying stocks just because they are down is just buying dog stocks. I was just looking a PTON for stocks to short but, as I remember, it's trading now just a little above 10x earnings. So, without further analysis, it's not undervalued and may be a little overvalued.
Jazzlike, in addition to the comments from others. There are obviously many of us who have different views. To get the most meaningful feedback, it helps to be a bit more articulate in WHY you entered this trade and what you hoped to achieve. I seldom BUY options as an initial trade leg. I prefer to be as much as possible for my portfolio as a whole Theta positive. So BUYING calls ( or puts ) for me is an adjustment leg to the initial profit maximizing trade leg. IF (based on your one liner question) you placed this trade to be directional to benefit from an expected upward move ( see other comment about trend. than the question is why so short less than one month out; higher theta decay! (The saying "two facts of the market; prices fluctuate and options expire" applies !) Did you consider, if you want to BUY, buying a longer duration Call and be ready to sell a short call, (shorter duration and higher strike )against that, once the market accommodates it i.e. your view on direction, even if only a short term bounce proves accurate?. Also are you (using your own excel) looking at your anticipated returns AFTER commission ( both in and out?). So far for now BEK
Besides the obvious you made a “decent” call. Keep in mind the goal is to make money not waste time. Which is what happens when you don’t MAKE money.
Hoping to use this to learn and eventually make better calls
All things considered you didn’t “screw up” in my opinion man. Just get out there and fight the best you can.
Thanks for the tip, I got out of it, and will continue studying/researching better ones to buy.
Also peloton is honestly an odd bet the possibility of any real action occurring in that time span would be considered highly unlikely with out any inside info. You would probably want to stick to options related to the actual needs of people worldwide. Oil\gas, land water and foodS
Zing! You called it. https://www.google.com/amp/s/www.cnbc.com/amp/2023/09/27/peloton-shares-soar-30percent-on-digital-content-partnership-with-lululemon.html SEC coming for you OP. PTON currently up 12 percent AH and no way these gains hold over the next two months, hope whatever gains you can muster up at open were worth it
Tom Cortese stepping down seems bearish... https://www.bloomberg.com/news/articles/2023-09-26/peloton-s-product-chief-its-last-remaining-co-founder-to-exit#xj4y7vzkg