(04-15-2019, 02:03 AM)crimsonghost747 Wrote: Thanks for the answers guys. It's an interesting concept, I think I'll give it a try if/when the situation presents itself.
You have to wait for your particular situation. With the wild swings approx OCT-JAN, it made it easy to get out of trouble. It also made it easy to get upside down in a trade in the first place of course. I prefer my markets lightly choppy. I find my strategy simple to manage then.
I have felt it was prudent to roll about six times during the past 4 months. Usually to get out of selling my long position way under current market value. That is where I am finding it the most challenging lately. It's worth it to move my strike $10. Especially if the cost is free, or very close to free. As Mike said there are times when you just move on. Especially if the story has actually changed in the meantime. I may get some more practice with UNH later this week.
My forum chatter is probably further confusing because I am doing two things. Attempting to hold a basket of DGI stocks long term, using options for better entry, and more income after I own them. And of course some option trades on the side because that is just fun lol. Underlying is always as stock I am OK with owning for an extended period of time if necessary. If I don't roll now and then, my base port is going to evolve into a continuously traded basket. Now that could work of course, but I need 50 good ideas on hand per quarter, and if I am honest I usually don't have 20. That's too much research. So most of my rolling has the purpose of holding my best stocks, or entering 5% cheaper when I can . But you gotta let it go sometimes as Mike stated. Trying to "beat a stock" will get you hurt. Emotion is now in play.
You have a pretty good idea what I am up to overall so hoping that explanation made some sense.