Secret 78YOU CAN BUY THE WORLD FOR 1/8
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“You can buy the world for 1/8.” is an old Wall Street adage
which means that investors will lose a major opportunity by
not being willing to pay 1/8 of a point more to get their trades
off.
Today stocks and stock options are not quoted in fractions
anymore, but rather decimals, yet the same rule applies. Don’t
chase after option prices, but be willing to pay an extra .10 ($10)
or .15 ($15) to enter a trade if you have a really good opportunity.
In other words, be more flexible in trying to get a good price for
your trade. In the past I have lost some good opportunities by
being too inflexible in my trading.
Of course, there are times that you must get out of a position,
especially if you are a naked writer. You can try to get a good
price for a minute or two, but then you must pay whatever the
market will bear.
“You can buy the world for 1/8.” is an old Wall Street adage
which means that investors will lose a major opportunity by
not being willing to pay 1/8 of a point more to get their trades
off.
Today stocks and stock options are not quoted in fractions
anymore, but rather decimals, yet the same rule applies. Don’t
chase after option prices, but be willing to pay an extra .10 ($10)
or .15 ($15) to enter a trade if you have a really good opportunity.
In other words, be more flexible in trying to get a good price for
your trade. In the past I have lost some good opportunities by
being too inflexible in my trading.
Of course, there are times that you must get out of a position,
especially if you are a naked writer. You can try to get a good
price for a minute or two, but then you must pay whatever the
market will bear.