[ahnuld]

Just bought (or put in the order to buy) some Jan 09 puts on crox. Its my first time trading options. Did I make a mistake by entering market order? I find etrade generally gets good market prices. Also what percent of your portfolio does it make sense to allocate per options position? Seems like 5% should be the max, right? Or does that decrease with longer dated options because your hypothesis is more likely to be correct and thus youll finish ITM more often (even if you dont get back your full contract buying price)