Submitted by United-Display-386 t3_10nv1vn in wallstreetbets
patriots317 t1_j6d47oy wrote
Reply to comment by BitSoMi in How many % do you often set for cut loss? by United-Display-386
It was otm options with a strike 6-8 months/ surrounding a time with a positive catalyst for the company. Being down 60% at one time with a plan to average down over the course of 8 months isn’t that big of a deal. The stop loss cripples you. Again,unless you are professionally daytrading, which is also extremely difficult but not many people can do. They can see your stop losses.
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