June Expiration how did it go for the sellers

Quote from wartrace:

Thanks for the response Putz Master. As a newbie I have a LOT to learn and am going to stay small for a while. One contract maximum and only four or five positions. I'm sure you remember your first trades, they are great learning experiences.
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I've been a trader for many years. But fairly new to the option world, in terms of being a well rounded trader.
For now, I plan on becoming a "master" of profitable put spreads.
Then I'll consider "mastering" strategies more sophisticated.
I'm not trying to impress anyone via more complicated and less predictable strategies.
My goal is to generate income in as simple and predictable and consistant manner as I can.
For now.... that's via put spreads.
That upsets some folks here.
Ask me if I care.
Good luck. Take it slow. Remember, we learn more from our mistakes than when we get it right or get it lucky.

Put Master
 
you were terrorizing yahoo options forum for years. what about your naked puts you were selling, have you mastered that yet? what a loser. I suggest not ever listen to this "putz master"
 
Quote from RedEyeFly:

While I cannot rationally endorse PutzMaster's methods, the real key to trading is getting 'your' method, as there are many which can lead to long run successes.
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Correct.
My method is not for everyone.
Neither are dagnyt's methods for everyone.
We each have our own strengths, comfort zones, and preferences. Not only in terms of strategy selection, but in terms of investment goals, investment criteria, investing discipline, risk management, R/R, ect....
I'm not looking for endorsements. I'm looking to be constructively "challenged" when I share and discuss a trade.
Thanks for your input.
I'm hoping you'll continue to offer constructive feedback, (pos and neg), when I share my trades in "real time", on the thread for Sharing and Discussing Trades.

Putz Master
 
Quote from wartrace:

I did my first (real money) option trade in June. I sold a June 975 call & bought a June 985 for a 1000 dollar credit (SPX). I realize the risk (10,000) is not worth the reward but I placed it in the first week of June so there was little time premium left when I sold it.
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I pay more attention to how probable a trades success is likely to be, than what its R/R is.
Short term trades tend to have wider R/R than more L-T trades.
Trades more OTM tend to have wider R/R than stocks ATM.
Stocks that are more volatile, unpredictable, and risky, have higher premiums than more stable and conservative stocks.
Given the choice, I'll pick the less risky stock and trade, with it's higher probability of success, and subsequent higher R/R almost every time.

That's NOT to say one way is better than the other.
Its just a personal choice, on a trade by trade basis.
Each of our trades is a "blend" of fluctuating variables, we must select from. The end result is our R/R ratio.
R/R is not a goal. It's merely the "result", of our "blend" of choices, and a somewhat meaningless criteria.

Putz Master
 
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