Rules are Rules

As part of my trading process, I utilize a lot of common Rules in my position entries and exits. One such rule is in the use of Stops, whether the position is Stock or Options.

I came in to today with a December 515/540 Call Spread on $AAPL and this is what has transpired:

$AAPL has recovered intraday and is currently trading near the $532 level. The 515 Call is back in the $18 range after dipping near $14 earlier. Although price has recovered back into my exit level, there are/will be many examples where taking the stop brings a sigh of relief.

Rules are Rules.

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