Options

I've given many examples of the power of options, and how they can produce 100%+ returns in a matter of hours. The problems with options is that they can expire worthless, and unfortunately I am running into that problem with my April put options. I have some April puts, and obviously, the market has gone completely against me the last 3 weeks. All of my April Puts will likely expire worthless.

What I did wrong here, is to hold onto front month options to long, in HOPE that the market would turn, rather than taking my losses quickly and move on.

For me, March was great, but April, so far, has been very bad. I have given back much of my March profits, which is discouraging. With the market closed tomorrow, and futures already up 150 today, I will likely wait until Monday to resume trading.