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It’s painful to discuss… but today, I want to talk about the worst trade I ever took.
The stock is Zayo Group Holdings (ZAYO). Zayo is a telecommunication company that provides high-quality bandwidth to the world’s leading and most impactful companies.
Here’s what happened…
I bought call options after Zayo’s earning report last November as the stock tanked from $30 a share to $22. And within days… I made about 700%.
Again, I bought more calls around the same price level at $23 a share and in a matter of weeks, Zayo was rising higher.
By this time, I had an enormous amount of confidence in the stock and I started to buy a larger size of call options.
At around $26 a share, I was buying more call options as the stock began to move lower and lower.
Now, here’s where I ran straight into trouble…
There was a buyout rumor circulating and every time Zayo experienced a red day, I was buying more call options.
When a stock has a buyout looming and everyone on the street knows about it, everyone believes that the stock’s going to go higher and the market makers – the men and women who control the options, boost implied volatility.
In today’s video, I’m going to show you how you can learn from your losers and what you can do to avoid placing devastating trades just like this one in Zayo.
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