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We haven't heard from him for more than a year. Hope he's doing fine.

To be honest, Michael Burry is NOT a big name investor. He just happens to be a guy that made a name of himself being far too early (which means he was wrong) in his short bets long before the 08 financial crisis.

yeah I think he meant $0.15/per share. That's peanuts for a credit spread with that many days out.

What if they go under? What's your recourse? Counterparty risk

Rule #1: Preservation of Capital. Rule #2: Don't forget Rule #1.

Rule #1: Preservation of Capital. Rule #2, Don't forget Rule #1.

I'm sold out of bitcoin completely and bought into Ethereum.

I think that by running these weekly if market crashes you'll be able to exit in time.

Heard from a chatroom operator that he has a 99% winning % in daytrading over 20 years. Full of crock!

It can be done via options trading but you'll have to spend a lot of time managing your positions.

How about wheeling IWM options?

I bet he's already into Ethereum. Maybe some Bitcoin. I for one have jumped into Ethereum.

I'm buying ETH and ETHE when it falls another 50%.

Rule #1: Preservation of Capital. I am a retired individual investor living in Southern California with a seven-figure portfolio.

If anything comes out of this nutty asset class, I'd bet 1% of my liquid net worth only on the two top cryptos, namely bitcoin and ethereum.

What's your general rule for selecting the strike in a Calendar Spread?

The payout is only 5.62% on an annualized basis. Not good for the risk you're taking if you're the writer.

"But your lifetime savings are like $200,000 and you place them all on selling naked puts and the stock value drops 50% overnight. You just lost HALF OF YOUR LIFE SAVINGS in a single blow." True if you do it with an individual stock. I rather own an ETF if things blows up. Then I'll be forced...

When an OTM put pays that much of a premium, it usually means the underlying stock is highly volatile. You will probably get assigned. So be prepared to own the stock going forward, if you must do the trade. Otherwise, don't do it.

Yes he's making money (so long as we are in a bull market), but much less had he simply went LONG and HOLD. Investors/traders who uses this short PUT writing/selling strategy are the ones who likes to sleep well at night. ;-)