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I still remember the early interviews where The Sos said he would see her trades come in over the TOS platform and be amazed at the amount of risk. That and Karen talking about the airline ticket to Mexico she had when the market took a drop and she had to roll to ride it out. I think she...

No, guaranteed winning orders placed as one trade do not exist. Any opportunity would be considered an arb and their are people who are a lot smarter than us with a lot more resources behind them that would scoop it up in milliseconds. Unless you are actually running the trades with live...

So can we officially remove the title of "Supertrader"? Max Ansbacher has traded strangles since the 70's (he has a hedge fund and website with posted returns) and his avg annual return is a whopping 10% and change. Somehow, people just swallowed hook line and sinker that Karen was able to at...

I am assuming they would both pretty much have the same approach? Come up with a market opinion, put on verticals and leg in to the other side as the market moves then come up with a catchy name (randomwalker, convoluted, black ops, etc.). The problem I always found is that the position (and...

IV rank is used in hushed tones of reverence by Tastytrade as if it is the holy grail of option selling. Like newwurldmn said, it is usually high (especially very liquid underlyings) for a reason. Their results/tests they perform are often over too short of a time period to be meaningful.

You should price all of them. A lot of times factors like ITM vs. OTM will impact slippage and you can save a few pennies with one vs. the other. Theoretically they all have the same payout (like your put credit vs. call debit spread above)

Unfortunately, what you will find is that most people in the markets are just as passionate about trading as you are. For the first ten years I thought I was special and that no one had the drive or the desire like me. However, the market attracts the best and brightest and I began to realize...

Take your 20k to a strip club. You will probably end up with the same amount as you will with your covered call plan but have a lot more fun.

As an elite trader poster obviously I would have made 38%. Duh.

In this day and age I don't know how anyone can expect to live off of $100M. Poor guy. Maybe we can start a go fund me for him?

+1 to this idea. Always try to have extra units on the downside. If you have portfolio margin it can do wonders for margin control too. If you don't like paying for them, try backspreads. Another consideration is to spend some of the credit you earned on debit spreads in front of your...

I remember telling my wife after about 3 years of trading options that I was going to quit my job and do this "full-time". Luckily I took a huge loss before I could type up my resignation and go through with it. The people on here are telling you the truth as hard as it is to believe. There...

Keep in mind part of Karen's edge was/is that she biased her shorts based on market expectation. Essentially her delta was skewed bullish in a bullish market (she even says it herself in one of her videos where she talks about selling more puts than calls). I have traded options since the late...

No it isn't possible. Risk vs. reward is applicable no matter what the strategy.

WHAT ARE YOU TALKING ABOUT?? Besides your one lot crazy spec plays have you ever traded options?

I would say for the OP they are irrelevant since his trading consists of buying a 1 lot OTM option and either winning or losing it all. However, that is not a sustainable strategy (although can be a speculative part of a portfolio). I use the greeks when I trade. I understand that they are...

Just know that Murphy's Law will kick in and your connection will drop at the worst time possible for your trade. Swing trading where you can enter a trade with a stop in place is a viable strategy.

You mentioned tastytrade in your first post and I would strongly advise you against following their strategies unless you have continuous access to the markets. You do not want to be in a short option position going against you that you can't adjust. I trade options and I have access to the...

From the slingshot, to the calendar collar, dynamic collar, dividend collar, poor man's collar, platinum collar, radioactive collar, ratio collar, short stock collar, enhanced collar etc. You name it and I have probably unsuccessfully traded it.

In the past I have traded the slingshot in real life and various other forms of it. Like sonoma said you are net long so your hope is that it goes to the moon. If you think of the position as a butterfly then it gives you an idea on how to adjust (or just trade the fly if you don't own the...