Kim Snider

[Debbiekyota]

Frankly. I am surprised the SEC hadn't shut down the grandma scammer marketer. Some of the claims are just outrageous.

Pretty funny that Brandon f is marketing for her supposedly.

 

[atticus]

Quote from Debbiekyota:

Frankly. I am surprised the SEC hadn't shut down the grandma scammer marketer. Some of the claims are just outrageous.

Pretty funny that Brandon f is marketing for her supposedly.

She's on this thread under a Brandon pseudonym. Someone should forward this shit to the SEC. Perhaps they can fit in an investigation between porn surfing marathons.

 

[kinggyppo]

Quote from Mike Okistini:

I don't think she is smiling, the plastic surgery will not let her close her mouth.

I did not know she was the one who invented covered calls.

She must have a time machine! The CBOE opened 1973-74, I won't mention a certain french mathematician from a century ago.

 

[spindr0]

Quote from stock piker:

Kim Snider has lost a ton of money for clients over the last few years. My sister lives nearby and got sucked into her managed account bs. She lost 30% or so on covered calls. AVOID.

I just don't understand why people pay good money for bad advice. Save the subscription costs and lose the 30% yourself!

 

[mikea59]

Quote from stock piker:

Kim Snider has lost a ton of money for clients over the last few years. My sister lives nearby and got sucked into her managed account bs. She lost 30% or so on covered calls. AVOID.

It's more than just covered calls. It's a specific technique for managing positions to generate monthly income using mostly CCs with some put selling. The program is geared towards newbs and retired folks who want steady income. And, it did as advertised for the majority of those who followed the rules from 2002-2009. Then, as is the case for many cookbook systems, the bottom fell out during the 2009 crash. In her system, you NEVER close a position for a loss. You end up with a lot of positions that are so far under water - unable to generate income - your overall account value goes in the toilet, and the net monthly income goes with it.

She has morphed her business to be more of an overall financial planer, mostly for retirement. I can't speak for her financial planning skills, but I would not recommend her CC method.

 

[ForexForex]

Quote from mikea59:

It's more than just covered calls. It's a specific technique for managing positions to generate monthly income using mostly CCs with some put selling. The program is geared towards newbs and retired folks who want steady income.

So her specific technique must have been: Sell Covered Calls until stock is called away, then sell Naked Puts until the stock is put to you, then back to CCs. Nothing special about that.

 

[traderlux]

...from the september 2008 issue of

STOCKS, FUTURES AND OPTIONS
Climb to Profits with an Options Ladder
September 2008
By Kim Snider & Jesse Anderson


...i have provided some quotes to get the flavor....you have to register to read it, but it is free and they have a lot of other info...

"Covered calls are widely considered one of the most conservative options strategies out there. You can employ this strategy when you own underlying shares of stock and write calls against them. If the shares are called away [the elimination of a contract due to the obligation of delivery], you are back to cash and profit from the option premium. If the options expire worthless, you still own the stock."


"You will start the process like you would most covered-call strategies, but with one small twist. In the first month, you buy a stock, sell a covered call one strike above the price and sell a cash-secured put at the strike immediately below the price.
Why the put? Because by selling the put, you collect additional income for the month. If the price increases above the call strike on expiration, your shares are called away and you keep the premium.
If the price falls below the put strike, you automatically buy additional shares.
The whole idea is to buy additional shares the next month anyway (if the initial purchase isn’t called away), so this merely automates the process and generates extra income. In subsequent months, if your position isn’t called away, you will continue to buy shares and attempt to sell calls one strike above your average cost, but you usually won’t sell a put (exceptions will be discussed later)."

Quote from ForexForex:

So her specific technique must have been: Sell Covered Calls until stock is called away, then sell Naked Puts until the stock is put to you, then back to CCs. Nothing special about that.

 

[spindr0]

Quote from traderlux:

"You will start the process like you would most covered-call strategies, but with one small twist. In the first month, you buy a stock, sell a covered call one strike above the price and sell a cash-secured put at the strike immediately below the price. Why the put? Because by selling the put, you collect additional income for the month. If the price increases above the call strike on expiration, your shares are called away and you keep the premium. If the price falls below the put strike, you automatically buy additional shares.

It's been pointed out here a gazillion times that the synthetic is better so let's make it a gazillion and one: Selling a naked put is equivalent to doing a covered call.

So this rocket scientist of an advisor has clients incur 4 commissions (plus B/A loss) when it can be done in as few as one opening position that expires. Jeez, what a deal!

 

[atticus]

This Snider person is recommending doubling up? Trading the CC and writing a put as well?