FWLT - a loss it is.

You never know what you are going to run into once you are in a trade.

One of the biggest problems we face as traders is news. Yes, news can sometimes work in your favor, but news is a gamble and we don't want gambles.

News came out in FWLT the other day that the CEO quit. So, that's bad for the company and therefore the stock dropped down - in a big way.

I gave it a couple of days to see if it would turn around, but it has not. I decided to salvage the remaining premium of my trade.

So, I sold the November Call today for $1.18, I originally bought the long November Call for $2.93. So, my loss was $175 and my ROI was negative (59%) - nothing to be proud of Russ.

However, you gotta take the bad with the good. So, the main point is to take your loss rather than let it take everything and make it a 100% loss instead of a 59% loss.

In any event, game on.