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One aspect that has not really been talked about is the "hedge" that is in the DITM call at $20k vs the stock position at $58k. Also a call is the equiv position of a stock with a protecting put. Are we trying to do too much protection with the extra positions? I am not being critical, I...

Good things....

acen, Great strategic post, thanks for sharing this. tlux

Yes, helpful post, interesting, buying protection after it moves against you....(I know some folks will bitch on that, but I am going to think about it) I think you are saying (and these are also my thoughts) running without protection is actually a hedge of sorts, if you get away with it, you...

who is your broker? at opxprs you can use these kinds of orders. they have training videos. i would imagine other brokers can do it also.

trade size, risk/reward, and commision cost trade-offs are aspects of option trading that i have been working to optimze for my trading comfort and capability levels. i am mainly doing spy etf spreads. i find the spy "better" (b/a spreads, volume, etc. as you mentioned) for my trading, but i...

CHECK THIS OUT.

What underly are you trading the ICs on?

I have not traded this myself, but I have also read a number of articles and book chapters (Lee Lowell) about DITM calls and it sounds good to me. Interested to hear what some of the experienced traders have to say.

"margined capital appreciation of the underlying in a superb bull stretch"...."premium was gravy" Interesting....

Kinda my thoughts also. He only started doing this type of aggressive CC in very late 08 and into 09. As I said, prior to then he was mainly directional and not too much was going on. But he has been having a very good streak with these CC's. The only reason I mentioned this is because "old...

OK, you got me boomberger. But at least we have a super bowl winning coach on our team. :) :D

For the record, I did not do it myself but I was subscribed to the guy's service as he did it. So I saw all his trades. He moved from doing mainly directional to doing mainly CC's. He also used port margin. I had been burned in the past with CC's, so I did not follow the CC trades. When...

Just as I thought, boomberg is an OTA co. guy.

After a re-read of boombergs post, I suspect he might be an OTA company guy. Some of the phrases and wording is the same I have heard on the adverts. Is it you?

BLOOMBERG, To prove your honesty and our honesty as skeptics i propose the following. For your $6k which you felt was worth it, I am sure you learned at least 100 new things. Tell us one of them, and lets see if we can find at least one poster here who has posted it in the past, or we can...

I think he is trading with SPX as underly?:confused:

Thanks for the post. Also interesting, I read about a year ago I think in Forbes, that some one originally approached him to "sell" protection intruments somewhat in a "retail" secondary type manner but he declined and figured out how to do it directly.

Is it possible to gain over 100% with CCs in several months? If you did not see it would you believe it? If some one showed you the account would you believe it? Would you walk away with the money and say you were a successful premium seller? Or would you keep doing what you had been doing and...

My thoughts exactly. Although somewhat strange in tone, I thought his posts were helpful, and I think he was one of the few that did some background homework and presented results. (Where is john galt? And bowo is still here?)