An Option Lesson on $YY

$YY - If You are not disciplined, Guaranteed Loser market.

1. Options Liquidity
2. MM manipulating Options Market
3. Staying in the trader and TAKING HEAT.

The story is 07/09 I entered a debit spread as it checked out all my criteria for UCS#1 Long Trade.
$2 Wide Spread for $0.95 (Thanks to Skew)

On 7/16 - The Short side lost 75% of its credit, so Closed it effectively bringing my Long trade risk down by 60%

Left the Long side to close on a bounce.

On 07/21 - The Long side ran higher Closing the net trade for 80% winner.

The lesson is. For my trading mindset Its worth to establish the position and leg out (or not) or add smaller risks on the troubling candidates. (In case of YY , due to liquidity I couldnt manage it at all, so Legging out was the best options).

For any options trader, You have to understand your mindset which will define your profitability.

Comment: Keep in mind this can RIP to the upside, But Exit wont be that easy.

Thats why I dont give these plays out. Especially the low liquidity options I trade


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