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No point in answering that since I'll immediately be branded a liar.

Classy. Very classy.

Because I showed them my numbers for the last three years and explained my strategy to them. To be honest it's astonishing for me to hear all this. It's weird to be told you don't know anything when you've been making money in the market for years. I think part of it has to do with the...

Do you read my reply to that post?

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Can't you limit you risk by slanting the options differently? For example: If XYZ is trading at $51.25 and I think it's basically going to stay where it is. I can sell three different ways: 1. I can sell 52.5 calls and 50 puts 2. I could see 50 calls and puts 3. I could sell 52.5...

Curious as to what makes you say that?

What books would you recommend?

The only reason I wanted confirmation for my calculation is because It was the first time I got "assigned" which is exclusive to the selling side of the option business. In addition to that some of the earlier posts in the thread indicated I was up the creek so I got nervous.

Much of the advice I got was "stop trading" "You don't know anything" That doesn't help me, one poster took the time to explain things to me and for that I'm very grateful, everybody else just said I'm clueless.

I started off the very first post by saying "I'm a little new to the game" I later clarified that I have been buying options for several years but I'm completely new to selling them. I was just surprised that people would be so quick to doubt my experience in buying options.

Thank You :) That's all I wanted to know.

The best way to learn is to debate and then get proven wrong. How do you protect yourself against the 5% drop?

I get a better margin by selling the puts.

Thanks for your help. Let me put some more information on the table so you can see what I wanted to do. The options I sold were Apple puts, as stated earlier in the thread they had a strike price of 115 and expire in May. I don't remember the exact numbers but let's say the stock price at the...

What about if you think the stock is going to stay where it is? Account is wiped out? The position is wiped out, not the account. On stocks I don't expect to move, my strategy is to sell both calls and puts with the strike price as close as possible stock price or I'll sell a call...

Well, I'm certainly not going to waste any time trying convince you of my experience. As I stated earlier my experience up until now has been buying options, not selling them. If you'll be so kind as to humor me.... The numbers I quoted were rounded out to make it easy to understand...

I see. There was some time value as the stock still has a month left but I guess there wasn't enough time value. Your point is well taken. In this instance however I got better margin by selling puts as opposed to buying the stock.

Can I sell the shares and then use that money to sell the same exact options?

I don't know what they call it. What's the difference between the two? They give me risk-based margin.