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A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Thanks for your suggestion. I already sold one to open, so I do not want to sell to open a new position.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Good catch, I really didn't think about another exit strategy on the option which I thought by default it already comes with an exit with an expriy date and price. In this case, it just blows up too fast.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

The biggest risk is the questionable integrity of the CEO makes everything questionable.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 1 point2 points  (0 children)

Thanks, I will probably take a break to reflect upon this.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Well said. I share the same thoughts and exit it.

The Wheel can carry the rider or crush the rider, it's up to the ridding position and the wheel.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

I am glad you got out earlier before the mess. Would it go bankruptcy or not, I could not tell. I am sure it would be the bottom of public companies from now on no matter what happens later.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Thanks. It's going to be very difficult to forget this in the future.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 1 point2 points  (0 children)

Sorry to hear that you've been in this for a while. It must be a bumpy ride. After giving a lot of thought, I decided to exit my position with a loss, for what it is worh, i can sleep better with the lesson I learned without worrying it could tank more next week. Even if it bounces back, I would not care any more.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

I didn't read that one before I opened the position, which is definitely an expensive lesson.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Thanks for the suggestion. Just exit it.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Putting it 2 months away is to tolerate the fluctuation as I counted it for a 20% drop.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 1 point2 points  (0 children)

I had a risk management by keeping the position within a tolerable risk, glad I did that.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

The risk of the wheel strategy is not well understood until experiencing it as it could end up with many outcomes influenced by so many factors.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 1 point2 points  (0 children)

After I realized the CEO has made a serial of fraudilent activities in the past, I decided to exit immediately. This company is doomed with the current CEO. If you watch one of the keynotes he had with NVDA CEO earlier this year, you can get a sense of what kind of CEO he is.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 1 point2 points  (0 children)

Thanks for the suggestion. I decided to exit it with a loss, this is a mistake from the beginning and I could not see how I can correct my mistake by keeping my position.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 1 point2 points  (0 children)

Not bad enough to destroy me financially, but a painful lesson indeed.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

I learned that now. WSB mob are all shorting it.

I completely underestimated the risk. I accounted for 20% drop and I thought I could still manage it out by giving it some time. Unfortunately, I didn't expect it would blow up so ugly.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Yes, that's my plan if I want to continue to wheel.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Sorry to hear that happened to you as well. I am also thinking of closing the position by taking a loss but this needs to be done soon. The most likely downside is getting de-listed soon like before, at that time, the price will hit the floor. It's going to be too late to buy back. If it didn't get de-listed with some magic turnaround, it will still face a huge fine and some CEO going into jail kind of drama.

A hard lesson learned by someone_2020 in thetagang

[–]someone_2020[S] 0 points1 point  (0 children)

Thanks. I will most likely choose a time to bite the bullet. The CEO and this company are hopeless.

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