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Hi Angelo, thanks for your take on it, and no offense taken, I welcome criticism/correction/enhancements. I recognize from an earlier experiment I posted on Reddit (selling naked puts instead of cash secured) that I'm way over-leveraged here. I wouldn't trade real money at 90% of margin...

"Swing trading with options," I like that! I've always been a short-term momentum guy (look at the chart and if it's trending up, buy it), and what I think of as a swing-trader also: weeks to maybe a couple months max. Anyway, early on in my options education (all since January) I wrote an...

CET, hi and thanks for that heads-up. I have a "cash/margin" account set up that's separate from everything else, just waiting to reapply for Tier 3 options in mid-August. You're right though that I opened the 2 paper accounts under my wife's ROTH account, but it let me select what kind of...

Hi, tayte. Sorry I missed replying to you earlier. I've seen that CBOE short strangle index before (I even took some options courses through CBOE). I think the trouble with it though, and with most every backtest of every strategy I've seen, is that they're not actively managed. And not only...

Sounds like you've been doing this for a while and seen some things. Thanks for the warning on getting "sucked in" on margin calls, I'll definitely try to heed that advice. When you DO sell volatility, are you doing ATM straddles or really tight strangles? Sounds like you're almost doing The...

Interesting idea with the flies, is that mostly what you trade option-wise? How do you make them work in general? And is this a "100 pt wide lotto fly"? AMZN earnings are on 7/29, is the idea that you would put a lotto fly on either side of current spot (whether with or without a...

Hi, qlai, welcome to the thread! You're right, a lot of the concepts I'm using are from TT, but when they say "trade small, trade often" I take that to mean small position size, which is where I got 5% from (don't they say 3-5?). But the other part of "staying small" I think is that you...

guru, I think you first mentioned ATM straddles, and yeah, I've looked at those a lot too. When I first saw them on TT I didn't care for them mainly because of their 'peakiness'. On a gut level I prefer the wide profit plateau of a 10Δ strangle, but your "max profit per dollar" argument makes...

Wow, you guys are AWESOME! I woke up this morning to see 9 new posts on this thread, and long, MEANINGFUL ones too. I really appreciate everyone's input and will endeavor over time to try to understand all the concepts put forth. Rather than answer everyone individually I'll use this one post...

Thanks for the contemplative music, I'll tuck it away for the day I might need it! So far you're the biggest naysayer I have, and I totally respect you for that, it's what I came here for. But can I give you a little challenge? Do you have a paper-money account you can try stuff out in? Or do...

Hi guru, thanks for chiming in! And wow, you said a lot, most of which I'd like to respond to. (Before I get started though, is there a way to see my replies directly below the post I'm replying to? I'm getting lost trying to keep up, and hoping that for you guys my replies show up right below...

Hi, Overnight. I agree with you academically that "it isn't possible." But it IS possible at least in the "Paper Money" side of TD Ameritrade's ThinkorSwim platform (and maybe that's all I'm proving to myself with this exercise). I've convinced myself of that once trading 10Δ Short Strangles...

Hi Magic, thanks for your detailed reply. I have to admit that I'm not (yet!) a sophisticated enough options trader to understand much of this wisdom, but I would like to respond/ask about some of your points. I've always read to "Beware of Gamma!", especially in the last week (which is where...

Hi, Caroy, thanks for being my first replier! I have to say this: I was waiting for the "steamroller" analogy so you get the prize for being first with that. More on that in a minute, but first, I think I answered most of your other questions in my third & last big post, which I was working...

MORE RESULTS I kept trading the 50k TDA/ToS paper-money 10∆ SS account the same way, with the goal of seeing how long it would take to double. Forgot to mention earlier that I'm doing 5%-of-NetLiq-sized trades, and adding positions until "Option BP" is just above 10% NetLiq, always trying to...

RESULTS After 9 full weeks the account was up 62%. Crazy, I know! And still no drawdowns >5%. All short strangles at 10∆. Going into this thing I had wondered (for a silly reason) if it was possible to make 1% per trading day with options. And here after 9 weeks of trading a 50k TDA/ToS...

Hi all, I think is my first-ever post on ET, but I've been reading for a year or so. TLDR: High IVR stocks with at least 2M volume and weekly options, short strangles with legs at 10∆, 5-10DTE, take profit at 50%, roll untested legs up/down as the other side is challenged, to a straddle if...