Is naked option writing really that bad?

[ironchef]

I never said i trade my example, just merely pointing out their is premiums far out of the money many months out. You went off on a tangent with failed trade on spy. I do trade the setup with a vertical spread with 10's contracts. But that is another thread.

My apology.

 

[viruscore1]

My apology.

Not necessary. Paper trade this strategy using vertical spread on momentum stocks, no need to hold to expiry, close out with 40-60% of max premium, then roll. Works well. I learnt this from an associate that uses iron condor. She managed an institutional trading desk, quit to trade her own account. Makes me nervous but I've seen her trade 100 contracts per side.