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Earning money with OTM options is not that simple. Open a practice account and trade OTM options in at least 20-lots. Then see how easy it is to get out for a profit. And don't forget the options on the other stock. You must avoid a loss in that side. Mark

A short put IS a covered call. If you hedge one, you can hedge the other. To hedge the covered call, buy the corresponding put - but that does give you pin risk. Mark

You clearly love to argue. Over notbing. It is NOT my assessment of the situation. It is the truth. I did not supply 'proof!' You didn't ask for any evidence -, why would any normal person cite a reference for every statement he/she makes? Who the hell are you to demand proof? You...

The most likely explanation is that you are using the 'last' price. That is worse than worthless information. You must look at the current bid and ask quotes for each option. That's the only way to know the current price. The last trade could have been hours ago, but even if it just...

WHY take the pin risk? Mark

Yes, for larger size orders. I did a few 50 lots, but they prefer 100 lots. I also found them to provide awful results, at least with RUT options and no longer use them in this manner. Mark

If you buy OTM options, the most likely result is that all options will expire worthless and 'pairs trading' will have no bearing on the trades. Mark

And cigarette advertisers always said nicotine was not addictive. They lie. They like so that fools will believe what they say. Here's what you need to know: Any statistic that tells you the percentage of options that expire worthless REFERS ONLY TO THOSE OPTIONS STILL OUTSTANDING AT...

There is no disagreeing with what you say here. A collar (or put spread) has a bullish bias and does better in up markets. But, sometimes perception alters reality. A conservative investor might like the idea of writing covered calls - equivalent to the BXM index. But, he/she may also...

This is a collar position. There is noting special about the 3-month put or the 6-month call. You can choose your own puts to buy and calls to write. You may have an interest in the CBOE collar index (CLL) which tracks such a strategy for more than 21 years. I describe it here...

Why would you believe that any trader who visits these boards would be interested in anything other than free data? Mark

To all ET posters. I have a request. LEAPS is an acronym that stands for <b>L</b>ong Term <b>E</b>quity <b>A</b>ntici<b>P</b>ation <b>S</b>ecurity</b>. It has 5 letters, never 4. It is always capitalized. Is there any chance everyone will use the correct nomenclature for LEAPS...

you are not a dolt i was not joking. I think I take this whole place too seriously. Mark

Bull! Options don't trade like stocks. You find a bullishly attractive stock, that does not mean it's a good idea to buy calls. Thanks for wasting everyone's time-John Galt

Don't forget PIN RISK Mark

I agree that the OP's plan was absurd. But he doesn't know that. He is new to this. Can't we have a little sympathy for a rookie? Mark

"How to start the day, how to trade consistently etc." You are talking about trading options, not stock. There is a world of difference. Here's free advice: If you want to develop a plan, do NOT accept someone else's plan. You need one that makes you comfortable. A plan you can follow...

not a happy ending. Sympathies. Mark

The 80s??? I'm talking about the 50s!! Yes, I kept them in good condition, but one summer when I was away at summer camp, my mother threw they all into the trash. I cannot describe how I felt. Mark

If you make the minimum deposit, IB will give you a margin account Mark