---
title: "First time buying options📝study notes"
type: "Topics"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/topics/21837278.md"
description: "This is my first time buying options, and it's just by chance. Actually, I don't understand it at all, but I'm curious—really curious—so I'm slowly figuring it out. There's a lot in the options course that I can't comprehend. The only thing I understand is what others say: if you lose, you lose the entire premium. So, I found a call option where I could accept the loss—a $10 premium, AAPL0614-212.5, with a purchase price of 0.1. Honestly, I don't really understand this, but I'm willing to spend $10 to buy an option to learn. (I originally thought that if the stock rose to 212.5, I could make a lot of money—though I don't know how much, as my understanding isn't deep enough yet...)"
datetime: "2024-06-14T11:13:13.000Z"
locales:
  - [en](https://longbridge.com/en/topics/21837278.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/21837278.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/21837278.md)
author: "[Yeeeee](https://longbridge.com/zh-CN/profiles/12137995.md)"
---

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# First time buying options📝study notes

This is my first time buying options, purely by chance. Actually, I don’t understand them at all, but I’m curious—really curious—so I’m learning bit by bit. A lot of the content in options courses is beyond me.

  
The only thing I grasped from others is: if I lose, I lose the entire premium. So, I looked for a call option where I could accept the potential loss—a $10 premium, AAPL0614-212.5, with a buy price of 0.1. Honestly, I don’t fully understand it, but I’m willing to spend $10 on one option to learn. (I initially thought if the stock rose to 212.5, I could make a lot of money—though I didn’t know how much. My knowledge is still limited. It’s basically betting $10 on whether it’ll hit 212.5, and now it has.)

  
On the day I bought it, the market value surged past $200. I don’t understand what exercising means, but I saw that clicking “sell” would net me that amount, which was enough. I didn’t sell on the first day, though—I thought the market value would keep accumulating, and sure enough, it rose again the next day. When it hit $450, I took a screenshot to flex to my friends.

(Surprise—I also bought NVIDIA. There’s no way I could afford the actual stock, but options are cheap. I bought six contracts, all thanks to the confidence from my AAPL trade.)

The image below shows last night’s closing price. The day before, it peaked at 8.35, meaning a market value of around $835. Subtracting the $10 premium, I could’ve sold for $825—if I’d sold then? Is that how it works? But I didn’t sell because I fell asleep—it was around 2 or 3 AM. By the close, the market value was back to $200+. If I’d bought ten contracts and stayed up to sell at the peak… damn, over $8K in one night. I’d be laughing in my dreams.

Now AAPL is closing at 2.53. As long as it doesn’t drop to 0.1, I’m not losing, right? Tonight’s the expiration—I have to sell. This hands-on lesson has been incredibly educational, and now I’m bold enough to buy more options.

I also added TSLA last night—heard it might rise.

Here’s how I understand options: if a stock fluctuates wildly in a day, the option’s value swings hard—fast gains, fast losses. But if the stock moves slowly, the option’s value seems to decay over time. Isn’t that called volatility?

(A wild guess: On expiration day, usually Friday, unless there’s a huge surge, profits are slim. If it’s flat, losses creep in? Just a theory. We’ll see tonight.) AAPL is down pre-market—no idea how the session will go. Rumors say there’s bullish news, but who knows? I’ll watch closely and sell opportunistically. Even if I hold till the end and miss the target, the max loss is just $10.

I’ve got some NVDA and TSLA too—both have positive catalysts lately. Wish me luck! First pot of gold from options, hehe!

## 评论 (13)

- **学习学习再学习 · 2024-06-23T03:57:07.000Z**: 😂On the contrary, if it falls, will the options you bought, say $200, be wiped out in a day? As a naive investor, is this the logic?
  - **Yeeeee** (2024-06-23T06:12:35.000Z): If it's a doomsday option, the money will be gone quickly if it keeps falling. But if it rises again a few hours before expiration, the option can rebound. It all depends on your gut feeling... Though
- **散漫Lw · 2024-06-14T23:52:41.000Z**: Awesome
- **Heartless白 · 2024-06-14T11:47:38.000Z · 👍 2**: 😂You still need to pay attention to the time, especially for weekly options. After 12 o'clock in the GMT+8 time zone, the time display will be one day ahead of the US stock market. If you're not careful, you might sell one day early.
  - **复利魔方3650** (2024-06-14T11:48:29.000Z): Haha, even the weekend time should be counted in
  - **Heartless白** (2024-06-14T11:50:23.000Z): 😂Especially in the middle of the night when you're already sleepy, you often end up messing around and ruining everything. Sometimes you buy at a cheap price with low liquidity and can't even sell it
  - **复利魔方3650** (2024-06-14T11:58:36.000Z): Yes, I've been through it all, so now I only play long-term options, not day trading options anymore.
- **复利魔方3650 · 2024-06-14T11:46:04.000Z**: Awesome
- **momoM · 2024-06-14T11:27:10.000Z**: My understanding of the rise and fall of options is that if the stock price fluctuates significantly on a certain day, the rise and fall of options will be large. The faster it rises, the more you earn, and the faster it falls, the less you earn or slowly lose. Moreover, as time goes by, if the rise
  - **Yeeeee** (2024-06-14T11:32:27.000Z): Haven't fully understood the time value yet, will keep watching slowly～