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And lets not forget Uncle Bernie Madoff

Spending the rest of his life in prison may be his safest bet..Its one thing to embezzle from a state teachers/pension fund, God only knows who he fooked over in the Crypto space.. That crowd may not be as forgiving

No squabbling here..OP asked a simple question,got some sound advice,and one poster is way off and bordering on dangerous..

Its extra tricky and confusing as he is definetly smart,but weak on the nuts and bolts of trading... There's a reason he thinks MM are out to Fook him,and that you are doubly fooked when trading directionally.. He basically knows just enough to be dangerous

Dont complicate things :)

Check your math, reread McMillan,reread your posts..in no particular order This is essentially what you said.. "After you are assigned on the short,you have no more short put so its just a single long put...you can sell it whenever you want" And what do you propose he does with the long stock...

I read your posts very carefully... Have you??

IOf course he bought the lower put..It wasnt a 2 for one special,sell one put,get one for free.. Doesn't matter what anyone thinks,he sold a put vertical,he bought the lower strike.You are way too smart for your own good.. How do you know the lower leg,i.e protection is no good?? And what...

You are needlessly complicating things..Ignoring the substantial dividend,there's a reason the Op chose to sell a put SPREAD..keep it simple.. He sold a 1 point spread for .40 with a max risk of .60.. Now you are suggesting lifting a leg,"if the underlying isn't going down further"...

You are the one who said sell a naked put.I was pointing out that he sold a spread to define his risk.. A call debit spread is no different than put credit spread..Box arbitrage..Buy call spread/sell put spread,no difference.(ignoring dividends) Double Fucked??? Only if you sit there with...

Hes definetly keeping the long put..Thats the whole purpose of selling the spread... If you are suggesting buying the 11 call for .01 to .03,thats OK...Why should he sell a put?? Calanders look reasonable

Assigned or not,your risk is .60... You have the 10 put protecting you. Doubt you get assigned,and if you do it's no big deal..You will be in a synthetic call,i.e. Long stock,long the 10 put..

I was curious as it seems to be a pretty fine line,but everyone has some sort of distinction.. Canslim,IMHO,is really Momo trading with some vol filters..Definetly has fundamental filters,but they don't backtest that well.. What would you call an individual who sets a 1 ATR stop,never sells...

Hard to backtest/simulate "gut feel",thats why hedgies/pros use percentages,vol stops... Ill bite Whats the definition of a trader vs investor?? Are you guys referring to time frame selected?? Yes,Buffet is an investor..... Is Oneil buy and hold??? I would classify Canslim i.e...

An example would help,and the logic for choosing the long and short strike. Adjstment #1) Appears to be some form of a delta hedge..Is buying the put spread that more efficient than trading underlying as a hedge? Im assuming you are buying an OTM put spread,creating a syn short fly,most likely...

Not disagreeing (or agreeing), but if you spend time backtesting before committing capital, you have little choice but to test various percent stops,vol adjustments,scaling,pyramiding etc.. Set and forget has no bearing on trading vs investing.. Different folks,different strokes

Rule #1 dont trust us,backtest it.. FWIW,not all stocks are created equally..Some are much more volatile than others.... Refer to rule #1

Honestly,no clue.....No rhyme or reason to it

If there is so much risk everywhere,than there is also the flip side,so much return everywhere.. Question is how to capture it, and I do agree with you and Dawn that trading Vol is no walk in the park..And I have been at this longer than I care to remember. My "arb" that accounts for 85%+ of...

Im referring to "What if IV changes by" slider..Im guessing that each individual vol goes up/down by the same % amount..