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Sean HymanSean Hyman
Keymaster
Post count: 7015

Email teams are slow because they get so many. That’s why I suggested the call.

You want to make sure you’re “buying to open” a small number of contracts, in the money and with a long expiry.

Ideally, buying yesterday would have been better because you want to buy when the price is still falling or is ranging sideways rather than chasing it on the way up. Chasing on the way up can work but only if the price surges far higher. So the former is preferred to the latter. So, you might wait now until its next pullback, even though you may miss some of the price move. But getting options right is as much about catching the volatility right as it is the price direction right.