Are naked puts really this safe????
- Thread starter RedDuke
- Start date
I think that is what bothers me the most, well put. (no pun intended)
yet that is what you do in your actual trading (you sell gamma). if you have cooled down by now (assuming that there is no other source of fire in the upper part of your pants to make you jump up and down again to the point of not thinking anymore) do you remember my concern about your past posts? your past responses addressed a non-issue: the concern has never been that you recommend to beginners to sell options, the concern was (and still is), as evidenced by your latest post, what you do for your account is what bothers you if someone else were to do it. how could you reconcile these facts? in absence of an explanation or a rejection of what you have been posting, you are a first class hypocrite to say the least. i have not seen so far any post from you in which you were, or planning to be, overall long premium, yet i have come across plenty of posts in which you were, or planning to be, short premium. that is why i find your posts inconsistent, and your recommendations to others morally disturbing. i think that it may not be a question of less knowledge on your part but rather more a question of attitude. frankness may not be appreciated by people like you, but it is worth it in defense of truth. this place is not for you, me or others to have entertainment. options trading is a serious business. next time think before you write, and do not assume the existence of classes among men and do not assume you are in the highest of all classes.
Stop using "short gamma" and unlimited risk interchangeably. They're not, and it makes you appear more ignorant with each post. Think long calendars, flies, 2-strike itm verticals. Coach is a hypocrite because he trades LRO short gamma and warns against URO short gamma? You're the hypocrite.
He's experienced. You're an idiot. Reconciled.
"Are you saying that the 1300 call volume might really be synthetic put buyers?
I guess it's possible - I can't prove otherwise "
you understood the essence of my point---you are an intelligent man. common sense is useful and cannot be ignored, but it can never replace a proof. volume on OTM options alone cannot tell whether outsiders are buying or selling premium, however the insiders (collectively) should know it, because they not only observe volume, they also participate in it and talk about it as a group.
would you ever try going DN in this scenario: short es puts 1250 , mkt tanking to 1255, and you short es calls @ the proper delta to offset put delta? also, being ready to continue to do so in each direction. 3 weeks to ex.
ps: sorry about busting your stones before. remember, "Imitation Is The Best Form Of Flattery"
beep you are using your handle most likely to get off some things you could not do with a previous one. in this post you did get my attention in the fact you imo do have a basis in this point.
sure, most of coaches stuff (as is atticus, etc) is mostly short premium; but the way they do it is different than the old naked deal and vertical thing. i think coach grew recently as did atticus years before. they put on directional plays in the form of fly's, straddles, (exotics) hoping for a move to profit. plus other stuff.
i think coach is assuming most posting here have not reached that level and is warning them to learn more. add the fact that anyone who puts "coach" to "options" years ago before he really knew anything (more money than experience); maybe there is a little arrogance in there.
Not likely. The only advantage would be a larger vol figure you'd receive on the short call. I don't sell naked puts and "continuing to do so" would be adding g/v into a loss. A position is not a methodology. Few here seem to understand that point.
Nobody here knows my book. I am a directional trader in long and short gamma.
atticus, you are real good at answering even the most inexperienced here (although i cannot prove that i am not one of them); but you mis-interpreted my post. i never said you go "naked" or "continue to do so"
your book is not where i want to even attempt to try to balance in my mind. what you did say about how you trade is how most experienced guys try to trade; just some do it better than others.
you must admit though , that some guys do say one thing in public and then trade to differently.