---
type: "Topics"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/topics/39245963.md"
description: "You can't play with expiration day options this big. I've played a lot of options, and I've set strict rules for myself by now:1- No more expiration day plays. The odds of winning are too low, and there's no time for error. If you're wrong, it's zero.2- No more small-cap stocks. The trading volume for options on small-cap stocks is too low. With less liquidity, it often happens that the stock price rises but the option price doesn't move because there's no volume. This point is crucial.3- Now, the strategy for options is becoming more and more like that for the underlying stock: buy calls when the price is low, usually for expiration over a month out; short when the price is high. Usually, if a stock has risen for two consecutive weeks, it's time to go short, buy a two-week put. The odds of winning are high, except for small-cap stocks. Under this strategy, you can average down. The most recent Microsoft single-month call went from -20% at most to +20%, meaning one day's gain was enough. When I usually buy this kind of single-month call, I double the position when the option drops 50%, and if it drops further, I double it again. This way, the cost basis becomes very low. Moreover, after the "Magnificent Seven" finish a market cycle, there's basically a pullback within two weeks. Just catch it."
datetime: "2026-03-13T12:07:28.000Z"
locales:
  - [en](https://longbridge.com/en/topics/39245963.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/39245963.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/39245963.md)
author: "[元仔](https://longbridge.com/zh-CN/profiles/19436003.md)"
---

> 支持的语言: [English](https://longbridge.com/en/topics/39245963.md) | [繁體中文](https://longbridge.com/zh-HK/topics/39245963.md)


# You can't play with expiration day options this bi…


### 相关股票

- [Microsoft (MSFT.US)](https://longbridge.com/zh-CN/quote/MSFT.US.md)

## 评论 (8)

- **空空郎君 · 2026-03-14T13:53:13.000Z**: The greatest weakness of human nature is: unwillingness to get rich slowly.
- **长岛美式 · 2026-03-14T07:38:48.000Z**: Exchange daddy
- **开心就好5188 · 2026-03-13T16:14:44.000Z**: Boss, with this money, why not go have fun? What are you doing playing with options!
- **福建豁达三哥 · 2026-03-13T12:41:40.000Z · 👍 2**: 😘😘😘For expiration day options, you need to buy at the breakout point to maximize profits. You can't drag out closing positions in a short time frame, within 1-2 hours. Actually, expiration day options have high leverage and fast time decay. So if you want to make money, you must have an extremely
  - **福建豁达三哥** (2026-03-13T12:44:33.000Z): The difficulty in incurring losses lies in the judgment, the timing of the breakout. When to take profits and exit. If it's an expiration day, the time decay isn't that fast yet. If you get the direct
  - **NeverMinD** (2026-03-13T13:07:04.000Z): Little Sunflower Third Brother's class is starting! 😄
  - **福建豁达三哥** (2026-03-13T13:21:23.000Z): Don't learn it recklessly, I think I was just lucky.