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Kim: nice explanation. I learnt small bits of same sauce over the past 2 years. Hard work, discipline and risk management : very little backtesting unfortunately, but hey that's me. If what your website is true, keep doing the good job. I have seen traders, advisers, mentors, account managers...

Ha ha I did look at the website so that was one series of page views :) Sorry to have started on this website when it is having crazy fights. Wonder if it is always like this or just bad timing on my part. Or maybe I am stooge too? I guess time will tell.

I did not even know what the wheel strategy was, so I read ... ... One trap investors can fall in to is continuing to hold on to shares as the stock falls due to the attraction of generating option premium. Stop losses are important.

See there is this hidden secret. Once you have made a 1000 option trades, the CBOE and CME are obliged to give you easy trades going forward. Or was it 10000 option trades, I forget !! Actually, go read Malcolm Gladwell's book Outliers which talks about the 10000 number. You may not agree with...

We all stand on the shoulders of others. Learn the alphabet, learn the greek alphabet, learn the sentences / strategies, learn the paragraphs and very soon you could be truly unconstrained. There is no substitute to hard work.

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Hmm long time (3-4 weeks) listener, first time caller re destriero: I think he/she was brief but brilliant. Your target price is 286. What happens at 285 - you get to keep the call premium. What happens at 280 - you get to keep the call premium. You can rinse and repeat to keep lowering your...

Agree with most of what you said Kim but I would not place market orders for a multi-legged option strategy on days like yesterday (1-2% down), or rather would never place market orders on any option strategy. However tight the bid/ask is, it can move quite a bit by the time the order enters the...

No its usually not that bad but all 1-2% or larger down moves, it is similar.

Yes, I was comparing to SPX but also RUT. NDX does work. There have been (many) times when I have paid more than 50 cents in slippage when going form the mid for a spread and as I am thinking through maybe I have gone even higher (60-80 cents) but this is just going by memory, but there are...

Oh sorry: if you trade QQQ: it is no different.

I trade NDX and for the same delta and same risk, my perception (anecdotically) is that you get more premium. However NDX moves widely (it is basically controlled by 5 companies) and the juicy premiums you get just subsidize the price you pay for maalox [ I mean, it makes you work to earn those...

More like 23/5 : https://www.cmegroup.com/trading-hours.html#equityIndex

Well you are right, but it does not help. Can you and I (retail traders and I assume you are also retail) trade options at 3 AM? This is how they describe the process...

Really? Maybe you are thinking of /ES. SPY can be traded after hours but not the options of either SPY or SPX.

I do not know what you are saying. SPX has Monday Wednesday and Friday expiries ... it seems the same for SPY from a casual browsing of expiry dates. Also see this (the appear superficially same): http://www.cboe.com/products/weeklys-options/available-weeklys Re more expensive ... why? SPX =...

SPX also gives you section 1256 tax benefit. SPY is pretty much same but does not qualify for the tax benefit.

You never came back with what the mistake was. Care to explain?