Are naked puts really this safe????

Quote from man:

the game is: gather enough money to open shop. sell
OTM puts and cash in fees. after 6, 12, 24 months you will
eventually lose all client money. then gather enough
money to open shop ...

i am afraid it is that simple.
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So true, so true. I've seen it over and over and over. The amazing thing is that these guys always seem to find backers. And if they lose a million dollars, they'll find a million dollars in backing. If they lose $50 million, they'll find $50 million in backing. It's as if losing more money puts you in a more elite category...
 
Quote from atticus:

Crash n burn/Jahajee hedges $8k in garbage puts with big SP futures. It's utterly moronic and serves no purpose other than to make the hedge the primary trade. You have to be a special breed of stupid to attempt it.

He sold 20 SPX Oct par puts at 3.85 and hedged with one SPU8 [Sep hedge?]. The premium represents <31 points in the big SP.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2069874#post2069874
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Will update after I take a break - what a day! KEY REVERSAL day? The low is in place for a rally to SPX 1300 plus?

Follow the trades here:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=136651&perpage=6&pagenumber=2
 
Here's what I did today, all posted in real-time. Pointless, but somehow less-so than your ridiculous hindsight fantasy:

sq2xk4.jpg
 
I was wondering how ace, zenith, ljm and ansbacher did it, thanks.

Quote from man:

the game is: gather enough money to open shop. sell
OTM puts and cash in fees. after 6, 12, 24 months you will
eventually lose all client money. then gather enough
money to open shop ...

i am afraid it is that simple.
More...
 
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