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Thanks for all the input. I am still testing the strategy and this month with the exception of the 31 where I was in and out of the trade 13 times x $7 comm on each full trade and a few missed ticks brought me to -$150.00 on the day. It has blown right past the naked short position and has...

The margin requirements and commissions are higher. I agree this would be ideal because they would trade identical.

Once the futures contract would rise back above the strike price I would buy back the contract and again be back in a naked put position. The key it to automate the process with software like tradeforecaster.

Your right I mis-spoke it's late! So if I sell the calls and the stock price rockets through my strike price I have unlimited risk. Not my game. In my original post I already said I could sell the calls and buy the futures contract to create the same effect. Or sell a straddle with the...

I will be doing a 2008 full year back test tomorrow and will post the results.

Kedwords The backtest is accurate with one exception. I did not have the data available that said how many times in that day that the futures contract would have to be bought and sold but even if it were two or three times per each day you can see the it is still a profitable strategy...

Optionseeker Thanks for the input. I agree this is an issue and the reason I am looking for an automated system to move me in and out of the emini position to reduce the slippage.

Thanks for the posts but I think you are missing some of the details. This is not the reverse of gamma scalping nor the same as selling calls. If you are selling calls you need the stock to rise in value to profit. I am not interested in speculating on the direction of stock prices. I am...

Hello everyone. I am new to the Elite trader forum. I have been trading options for about two years now. Mainly vertical spreads / iron condors on a few select stocks and ETFs. Here is my question. I am tired of giving up so much of my premium to buy the downside insurance and want to run a...