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Let me answer this in different way by asking another question, can you construct a "reverse" position with the reward/risk > 0 as below? e.g. you make money when the market is unchanged or move down, break even when the market move to 178.62 and loss money when the market move beyond 178.62 and...

Alternative - USO, long the slightly OTM LEAP call which is cheaper if you don't have a big account. No one have the time machine that can tell you what is the future the oil will be, or else, he will the elite zillionaire. ;)

The OP is the first time poster in this forum, and he never respond to any replies after that. I will ignore this thread.

Las Vegas offer a better return and more fun, and they may offer free food if you loss a lot.

Pm me

+1. Especially the final sentences. "But trying to create some monster like structure where you think you have no direction risk and some "tent pole" structure (terminology that gets splattered around at free option seminars and worthless option books) is a waste of time." A lot of newbies...

Risk/reward and win/loss probability always come hand to hand. I make a decent living by trading what i had learned (and profitable) for the past 10 years. I don't really care what you or others said. Have a good day

I am happy with what I have now, a low risk profitable strategy. All the best to your profitable high leverage, high probability, good risk reward system.

Great . All the best to your profitable edge.

Collar protects your downside but at the same time it takes away your upside. You have to pay premium for married put to protect your downside. There is no free lunch. Think of this way, options and their strategies (covered call / collar, married put, spread and etc) are all just a tool and...

See my previous reply - timing, timing , timing .. Collar or covered call will not give you any edge or making money in long run.

It will be debit (you have to pay more). The bad news will be if the stock tank after you roll the positions by selling the higher stake and buy back the current one, in this case you loss money. This all back to the millions dollar question, "when" to roll or aka timing. If you good in...

I don't think bone is an "experienced" trader, he is only a salesman that sell something that is widely available in internet with hard sales techniques such as in this thread. The most important one is I don't believe bone know how to trade profitable, i had asked this question several...

Why not go to casino? More fun and you may have some free food if you loss enough?

You are right, a 8% return in a month (2% a week) will make this guy much richer than Buffet or anyone else in the world in 20 years time even with a 10K account. I don't see he need any leverage from Options.

This depend on the equities, if this is a highly liquid options ( such as SPY, QQQ, GE, INTC and etc) with very small slipage, a deep in the money options will be the best, which will give you almost dollar to dollar leverage.

Bone - I am still waiting for your answer on this. Not sure why you avoid this simple question ?

Really? Those 95% failed because they don't have edge, mostly are those trade using classic trading approach who die with millions cuts- commission, slippage, negative expectancy system and etc.The common symptoms of those are when they failed, they will blame: 1. Market conditions changed...

Appears that his "edge" last for 5 years;)

Good post:(