Closing naked put positions

[Put_Master]

<<< my point is even my mother who has Alzheimers knows that a bull put spread is a simple bullish vertical spread bet. What more is there to discuss? >>>

If all you do is throw darts and initate a put spread on whatever it hits,.... then I agree there is nothing to discuss.
On the other hand a discussion of stock selection, risk/reward , strike price selection, fundamental analysis, technical analysis, investment objectives, risk management, length of contract, ect.... are all potential items for discussion, debate, and learning when someone share a deal.

Or folks can instead continue to discuss and debate the meaning of the word "deal".
LOL!

BTW, the issue of discussing deals does NOT apply to trolls like bruce_follick and his silly pals.
I consider them here strictly for my entertainment.

Put Master

 

[gammagabber]

Quote from Put_Master:

<<< If all you do is throw darts and initate a put spread on whatever it hits,.... then I agree there is nothing to discuss.
On the other hand a discussion of stock selection, risk/reward , strike price selection, fundamental analysis, technical analysis, investment objectives, risk management, length of contract, ect.... are all potential items for discussion, debate, and learning when someone share a deal.

Put Master

ummmm none of the above...stock selection, risk/reward, FA, TA, strike... blah, blah, blah... have anything to do with option strategies and the related Greeks. If you want to keep a journal of your trades...... fine ....go for it...have at. Good Luck.

 

[Put_Master]

<<< ummmm none of the above...stock selection, risk/reward, FA, TA, strike... blah, blah, blah... have anything to do with option strategies and the related Greeks. >>>

I'm not suggesting the Greeks be ignored. But if you chose to ignore all that blah blah stuff, you are indeed simply throwing darts, and I assume managing the risk.
Nothing wrong with that if that's your thing. I just prefer a different approach. For me, part of managing risk is all that blah blah stuff BEFORE I commit my cash to a potential deal.

For me, I found if I take the time to manage a potential deals risk BEFORE I commit to it, it usual results in less managing after.
I'm happier when i can spend more time monitoring a deal and less time having to manage it.

But I understand, that's not for everybody.
Not everyone has the time i have to reseach various stocks every day, hoping to find one I like. And then adapting the appropriate option strategy to it.


<<< If you want to keep a journal of your trades...... fine ....go for it... >>>

My journal can be found under the heading of "Option Trades."
I plan to post my deals in" real time", because doing that helps me maintain my investing discipline, and criteria based stock selection for my option deals (investments).
Knowing that some here will go nuts if one of the deals lose any value, keeps me from getting greedy and taking un-necessary chances.

The truth is, having crazies like bruce_follick and others on the Option and Furures board, monitoring my hundreds of deals over the years, and FREAKING OUT, when one occasionally goes bad on me, has been one of the reasons I've been such a successful disciplined investor.
Trust me, its just a matter of time before the rest of them follow me here,.... just like bruce follick did.
That's good for me. Unfortunately, it won't be good for the board.

Put Master

 

[dagnyt]

Quote from gammagabber:

ummmm none of the above...stock selection, risk/reward, FA, TA, strike... blah, blah, blah... have anything to do with option strategies and the related Greeks. If you want to keep a journal of your trades...... fine ....go for it...have at. Good Luck.

It doesn't work that way.

He must share here and collect insults along the way. Just watch.

Mark

 

[Put_Master]

<<< It doesn't work that way.
He must share here and collect insults along the way. Just watch.
Mark >>>


TRANSLATION:
Mark is saying that I will be posting my deals in "real time" for investors to observe, monitor, discuss, perhaps even consider doing,... and he, bruce follick and others will spend their time insulting and ridiculing me and those deals for some unknown reason.

When I openly and honestly initiate and post a deal in "real time", I have no idea how its going to turn out 2 - 4 months down the road.
I certainly hope and expect to have more gains than losses as the year progresses.
But either way, we will all find out together, since the deals are all here for everyone to monitor. Including how I manage the risk of a deal that goes bad.

The reason I'll be posting them here, on the new "Option Trade" board, is because the other yahoo board was ruined when it became over run with idiots, fools, morons, deviants and losers.
I suspect they were all the same individual using multiple IDs.
Either way, since this is a monitored board, I'm hopeful they (he) will not be permitted to do the same here.

I've been informed of a response to my posted trade, so I'll now end this reply and respond to his discussion on the other board.
I'm here to share. But I'm also here to learn. If folks have constructive criticism of my stock picks, my criteria, my goals, my strategy, ect.... I'd love to hear it.
That's how I'll become a better, a safer, and a more profitable investor.

Put Master

 

[gammagabber]

Its just really annoying when you call an option trade a "deal" ...a deal is a steal on a new pair of shoes, a BBQ, snowblower, there are NO... NO.... NO.... "deals" in OPTION TRADING...sheesh

 

[dagnyt]

Quote from gammagabber:

Its just really annoying when you call an option trade a "deal" ...a deal is a steal on a new pair of shoes, a BBQ, snowblower, there are NO... NO.... NO.... "deals" in OPTION TRADING...sheesh

He does the best he can do with his limited knowledge of option terminology.

But, in reality, he's been using that term for a bunch of years at Yahoo and it never bothered people enough to get him to abandon his word and substitute a real world options term - such as 'position' or 'trade.'

Mark

 

[Put_Master]

<<< Its just really annoying when you call an option trade a "deal" >>>

I initially used that term several years ago, to discribe what I thought was an excellent option investment, that I shared for others to discuss and consider for themselves.
My sharing of "real time" trades, annoyed Mark as much back then as it does now.
And he responded with his usual angry rants and insults,... as he still does.
I really didn't know why my sharing bothered him and some of his pals so much, but since it did, I responded to their rants and insults by posting more of them, and kept refering to them as excellent "deals".

After a while it just became part of my lingo.
However, that was then and this is now.
I have no problem refering to my "deals" as trades, investments, ect....

Mark knows more about options than I do.
Perhaps that's why it bothers him so much, that I'm willing to share my trades with others to observe, discuss, monitor, and consider.... and he's not.
Perhaps he feels if a trade ever loses any money, that will hurt his image as a professional.
So he responds to my sharing with anger and insults.
Hence, as you and others have already observed, he keeps stating that I'm posting misinformation.... without ever stating what that misinformation is... and then correcting it.

Bottom line.... he's upset that I dare to hold a different opinion than his, on when to close down a naked put trade with $0.15 and 10 days remaining.
I say it depends on how deep OTM it is, what industry it's in, how much cash is concentrated in it, how volatile it's history of fluctuations are, are earnings pending, what direction has the stock and sector been trending, how much margin are you on, ect....
Mark says to shut them all down no matter what!

He's certainly entitled to his opinion, and I respect his recommendation for investors to be conservative.
But I think his response to my difference of opinion, regarding THOUSANDS of dollars over the course of a year, was uncalled for.
He called that difference of opinion "misinformation".

He didn't put me on "pretend ignore" because of "the deal".
He put me on ignore because I'm willing to share my trades for others to observe and discuss, and he's not.
That has angered him for years. It's time to get over it already.
If you don't want to see them, don't go to that board.
Geeeze!

Put Master

 

[Put_Master]

Mark's comments:

<<< I don't find it funny at all. He's here spreading bad information - but at least it's far less bad than it used to be, but it benefits no one. And it harms others. It harms others. Isn't that what you and I are here trying to prevent?....
It doesn't work that way. He must share here and collect insults along the way. >>>


Bad information? It harms people? It benefits no one?
I must share and collect insults?

All that because I used the term "deal"???
I don't think so.
Or was it because of our difference of opinion on when to close a trade,... and because I've always been willing to share my trades in "real time", and that openness and honesty has always upset him?
As a result, his pals "the trolls" like bruce_follick, have been following me and harrassing me for years..... ruining one board after another.
Hopefully that distruction won't occur here, since this is a monitored board.

And hopefully we can get back to discussing issues like option strategies, trades, risk management, ect....

Put Master

 

[Bruce_Follick]

We used to have a contest on Yahoo to see who could write the shortest reply to Putzo Master with the fewest sentences and see how many long winded meaningless rants we could get out of him. He'd stew over it and come back again and again and write yet a another one. I see that nothing has changed.

Very funny and good entertainment too.

HAHAHAHAHAHAHAHA!