I wanted to put this video up regarding the latest trade in the Challenge Project, because I think it will adequately demonstrate the variables that you need to consider, when it comes to Futures options, and how the theta can eat away at the value of your option, even though the market may head in your favor ...
(Video Included. If you're seeing this entry elsewhere and cannot see the Video? Click here to view the entry ...)
As Karl Denninger has stated; when it comes to options, early is wrong.
Here is a link to my playlist, that discusses Futures Options
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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.