Comments on: Devastating Expiration http://theoptionguru.com/blog/2010/07/devastating-expiration/ Option Spread Trading for Income Fri, 18 May 2012 01:40:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Jeff W http://theoptionguru.com/blog/2010/07/devastating-expiration/comment-page-1/#comment-976 Jeff W Mon, 30 Aug 2010 09:47:00 +0000 http://theoptionguru.com/blog/?p=2263#comment-976 Dear Cory,nnGood one! - I had a nice hearty laugh when I read it u263annI suppose I could attempt to justify the reason why I can't justify - like I would only need it occasionally because I am at home most of the time - but I sense I am fighting a losing battle. In the end it's not being able to justify it, not that I can't afford it.nnThanks for reading my blog.nnu25c4 Jeff u25ba Dear Cory,nnGood one! – I had a nice hearty laugh when I read it u263annI suppose I could attempt to justify the reason why I can’t justify – like I would only need it occasionally because I am at home most of the time – but I sense I am fighting a losing battle. In the end it’s not being able to justify it, not that I can’t afford it.nnThanks for reading my blog.nnu25c4 Jeff u25ba

]]> By: Cory http://theoptionguru.com/blog/2010/07/devastating-expiration/comment-page-1/#comment-977 Cory Mon, 30 Aug 2010 04:00:00 +0000 http://theoptionguru.com/blog/?p=2263#comment-977 You trade options and yet can't justify the cost of an iPhone? boggle! You trade options and yet can’t justify the cost of an iPhone? boggle!

]]> By: Jeff W http://theoptionguru.com/blog/2010/07/devastating-expiration/comment-page-1/#comment-928 Jeff W Wed, 28 Jul 2010 19:05:00 +0000 http://theoptionguru.com/blog/?p=2263#comment-928 Bill,nnThanks for the comment and your support. You know, it's really easy to mislead people, and I try my best to post my trades as soon as possible so that my readers can follow along, if they wish. And, as you mentioned, those people that claim success month after month aren't believable. I get bombarded with offers, claims and get rich overnight strategies daily. I have tried a few that sounded believable, but there is really only one service/course that returned to me many hundreds of times the amount that I paid for it. Watch my blog for that detail.nnI watched the Options Rocket video and chuckled a bit. It happens to very closely mirror the strategy that I will be posting soon only using the SPY instead of the SPX. I back tested it from the point that the weeklys were offered on that ETF and it worked every week.nnLike you, I am starting to lean more towards the ETF's in general - they don't give as great a return but provide a higher probability of success.nnu25c4 Jeff u25ba Bill,nnThanks for the comment and your support. You know, it’s really easy to mislead people, and I try my best to post my trades as soon as possible so that my readers can follow along, if they wish. And, as you mentioned, those people that claim success month after month aren’t believable. I get bombarded with offers, claims and get rich overnight strategies daily. I have tried a few that sounded believable, but there is really only one service/course that returned to me many hundreds of times the amount that I paid for it. Watch my blog for that detail.nnI watched the Options Rocket video and chuckled a bit. It happens to very closely mirror the strategy that I will be posting soon only using the SPY instead of the SPX. I back tested it from the point that the weeklys were offered on that ETF and it worked every week.nnLike you, I am starting to lean more towards the ETF’s in general – they don’t give as great a return but provide a higher probability of success.nnu25c4 Jeff u25ba

]]> By: Jeff W http://theoptionguru.com/blog/2010/07/devastating-expiration/comment-page-1/#comment-900 Jeff W Wed, 28 Jul 2010 17:05:12 +0000 http://theoptionguru.com/blog/?p=2263#comment-900 Bill,<br><br>Thanks for the comment and your support. You know, it's really easy to mislead people, and I try my best to post my trades as soon as possible so that my readers can follow along, if they wish. And, as you mentioned, those people that claim success month after month aren't believable. I get bombarded with offers, claims and get rich overnight strategies daily. I have tried a few that sounded believable, but there is really only one service/course that returned to me many hundreds of times the amount that I paid for it. Watch my blog for that detail.<br><br>I watched the Options Rocket video and chuckled a bit. It happens to very closely mirror the strategy that I will be posting soon only using the SPY instead of the SPX. I back tested it from the point that the weeklys were offered on that ETF and it worked every week.<br><br>Like you, I am starting to lean more towards the ETF's in general - they don't give as great a return but provide a higher probability of success.<br><br>◄ Jeff ► Bill,

Thanks for the comment and your support. You know, it's really easy to mislead people, and I try my best to post my trades as soon as possible so that my readers can follow along, if they wish. And, as you mentioned, those people that claim success month after month aren't believable. I get bombarded with offers, claims and get rich overnight strategies daily. I have tried a few that sounded believable, but there is really only one service/course that returned to me many hundreds of times the amount that I paid for it. Watch my blog for that detail.

I watched the Options Rocket video and chuckled a bit. It happens to very closely mirror the strategy that I will be posting soon only using the SPY instead of the SPX. I back tested it from the point that the weeklys were offered on that ETF and it worked every week.

Like you, I am starting to lean more towards the ETF's in general – they don't give as great a return but provide a higher probability of success.

◄ Jeff ►

]]> By: Bill http://theoptionguru.com/blog/2010/07/devastating-expiration/comment-page-1/#comment-929 Bill Wed, 28 Jul 2010 16:24:00 +0000 http://theoptionguru.com/blog/?p=2263#comment-929 Jeff,rnI have been reading your blog for many months now and it is one of my favorites to check in with. I like your trade plans, I got some good ideas from them.rnI have been trading BPS on SPY with some success, no losers yet in about a year of trades, but I did skip a couple months earlier in the year when things got dicey.rnI also tried a BPS on INTC in June, against my rule to stay away from individual stocks, and sure enough I got burned. I got out with a small loss as the price came down close to my short strike. If I had just held, it would have expired at $0, as the price recovered. I also had some CC trades with Alcoa earlier and had some winners but they were nerve racking, as you hve to watch for earnings, dividends, etc.rnSo I plan on staying with the SPY credit spreads. I use mainly a 3 mo. daily chart with BB and RSI to look for trend, and momentum to determine if I want to trade puts or calls and at what strikes. I want to keep it simple and just look to close out bad trades, rather than do adjustments. rnAs far as weeklies go, check out a video on optionsrocket dot blogspot dot com, he has a plan where he is only in for about 2 or 3 days.rnBest of luck Jeff and thanks for the blog.rnBill Jeff,rnI have been reading your blog for many months now and it is one of my favorites to check in with. I like your trade plans, I got some good ideas from them.rnI have been trading BPS on SPY with some success, no losers yet in about a year of trades, but I did skip a couple months earlier in the year when things got dicey.rnI also tried a BPS on INTC in June, against my rule to stay away from individual stocks, and sure enough I got burned. I got out with a small loss as the price came down close to my short strike. If I had just held, it would have expired at $0, as the price recovered. I also had some CC trades with Alcoa earlier and had some winners but they were nerve racking, as you hve to watch for earnings, dividends, etc.rnSo I plan on staying with the SPY credit spreads. I use mainly a 3 mo. daily chart with BB and RSI to look for trend, and momentum to determine if I want to trade puts or calls and at what strikes. I want to keep it simple and just look to close out bad trades, rather than do adjustments. rnAs far as weeklies go, check out a video on optionsrocket dot blogspot dot com, he has a plan where he is only in for about 2 or 3 days.rnBest of luck Jeff and thanks for the blog.rnBill

]]> By: Bill http://theoptionguru.com/blog/2010/07/devastating-expiration/comment-page-1/#comment-899 Bill Wed, 28 Jul 2010 14:24:58 +0000 http://theoptionguru.com/blog/?p=2263#comment-899 Jeff,<br>I have been reading your blog for many months now and it is one of my favorites to check in with. I like your trade plans, I got some good ideas from them.<br>I have been trading BPS on SPY with some success, no losers yet in about a year of trades, but I did skip a couple months earlier in the year when things got dicey.<br>I also tried a BPS on INTC in June, against my rule to stay away from individual stocks, and sure enough I got burned. I got out with a small loss as the price came down close to my short strike. If I had just held, it would have expired at $0, as the price recovered. I also had some CC trades with Alcoa earlier and had some winners but they were nerve racking, as you hve to watch for earnings, dividends, etc.<br>So I plan on staying with the SPY credit spreads. I use mainly a 3 mo. daily chart with BB and RSI to look for trend, and momentum to determine if I want to trade puts or calls and at what strikes. I want to keep it simple and just look to close out bad trades, rather than do adjustments. <br>As far as weeklies go, check out a video on optionsrocket dot blogspot dot com, he has a plan where he is only in for about 2 or 3 days.<br>Best of luck Jeff and thanks for the blog.<br>Bill Jeff,
I have been reading your blog for many months now and it is one of my favorites to check in with. I like your trade plans, I got some good ideas from them.
I have been trading BPS on SPY with some success, no losers yet in about a year of trades, but I did skip a couple months earlier in the year when things got dicey.
I also tried a BPS on INTC in June, against my rule to stay away from individual stocks, and sure enough I got burned. I got out with a small loss as the price came down close to my short strike. If I had just held, it would have expired at $0, as the price recovered. I also had some CC trades with Alcoa earlier and had some winners but they were nerve racking, as you hve to watch for earnings, dividends, etc.
So I plan on staying with the SPY credit spreads. I use mainly a 3 mo. daily chart with BB and RSI to look for trend, and momentum to determine if I want to trade puts or calls and at what strikes. I want to keep it simple and just look to close out bad trades, rather than do adjustments.
As far as weeklies go, check out a video on optionsrocket dot blogspot dot com, he has a plan where he is only in for about 2 or 3 days.
Best of luck Jeff and thanks for the blog.
Bill

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