Yep. The time decay factor of a bad entry is THE killer of any options trade. Your Ty Ming must be very precise. The good news is that "if" you can become precise you can then lower the amount of your wager. The SLV trade I outlined at my blog, which I took profits in yesterday, generated over $150 in profits on a $140 and a $180 wager, plus I got my initial bankroll back. The GDX trade I still left open was a $180 bet initially...and I have until 7/21 until expiry. Of course I was in both bets a day or 2 before Greg posted his long in SLV and GLD. The time premium of those 2 days are the difference between a losing bet like Greg is holding...and a winning bet. So please learn the importance of Ty Ming when you trade options. It is the most important factor.