My Awesome Trading

Welcome to a world of negativity here OP.

I would take zero notice of many of the comments here. Well done to you and best of luck for the future.

Whenever someone is successful, others will do their level best to discredit and/or find reasons of why a system or strategy will not work in the future.

I still can't work out whether it is a deep ingrained desire to see others fail, or whether it is pure jealousy, because they have likely failed themselves.

Keep going and perhaps join other trading sites where positivity is welcomed...
 
Cmon bro.....

He/she is selling puts nude,possibly levered at increasingly cheap vol

No mention of risk/money management other than selling calls when assigned...

Anytime someone goes from trader of weekly's to investor with limited to no upside when wrong is going to get negative vibes



Con1991 said:
Welcome to a world of negativity here OP.

I would take zero notice of many of the comments here. Well done to you and best of luck for the future.

Whenever someone is successful, others will do their level best to discredit and/or find reasons of why a system or strategy will not work in the future.

I still can't work out whether it is a deep ingrained desire to see others fail, or whether it is pure jealousy, because they have likely failed themselves.

Keep going and perhaps join other trading sites where positivity is welcomed...
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guru said:
While returning 2.5x more than the market/SPX (20% YTD) with this strategy shows that you can't be fully cash secured, and risking more than you're claiming,
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Are sure about that? What if my edge is in picking the right stocks and/or the right strikes? NET is up 60% YTD. AA is up 96%. MS is up 52%.

@taowave, what's the Sharpe for SPY YTD and standard deviation?
 
Retief said:
Are sure about that? What if my edge is in picking the right stocks and/or the right strikes? NET is up 60% YTD. AA is up 96%. MS is up 52%.
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Maybe, but then you may be concentrating on a few stock picks that may just as well lose you more that the market/SPX at other times. At minimum 8 months of trading through one of the best markets in history can’t compare to strategies backtested over 15-30 years. While hedge funds also reported 2021 being the best year since 2009, so again, everyone is making money in this market. I mean how do you lose when the market goes straight up? The real tests are yet to come.
 
1 year Sharpe on the SPY is 2.35..Doubt YTD is much different..Yours is sub 2

That's my point

If you aren't using leverage, you are having an awesome year..

What market cap are you trading??

Retief said:
Are sure about that? What if my edge is in picking the right stocks and/or the right strikes? NET is up 60% YTD. AA is up 96%. MS is up 52%.

@taowave, what's the Sharpe for SPY YTD and standard deviation?
More...
 
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Retief said:
Are sure about that? What if my edge is in picking the right stocks and/or the right strikes? NET is up 60% YTD. AA is up 96%. MS is up 52%.
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BTW, if your edge is in picking stocks then you could just as well hold those stocks during the same period(s) without needing to use the wheel strategy. It's been proven many times that the wheel provides equivalent/similar returns to simply holding the underlying stock, so getting distracted with options may be your "anti-edge". Sometimes you may get better results and other times lose more through the wheel, but in the end you're not gaining much beyond holding the shares. Do (or find) some wheel backtests to see this for yourself.

Also, selling a put is mathematically equivalent to owning the same stock and selling covered call on it (at the same strike as you'd sell the put), so you don't even need the wheel to achieve exact same results by always just selling puts, then when getting assigned you could get rid of the shares and sell another put again. Basically multiple people can achieve exact same results whether using the wheel or only selling naked puts or only owning the shares and selling covered calls (and similar results without doing anything while holding shares). Maybe you know this, maybe not, just pointing it out.
 
If you are confident in your strategy, just keep doing that and you will compound faster than Warren Buffett. Eventually you will overtake him in wealth if you are young enough. Good job!
The wheel strategy is not a meme residue of WSB
 
taowave said:
1 year Sharpe on the SPY is 2.35..Doubt YTD is much different..Yours is sub 2

That's my point

If you aren't using leverage, you are having an awesome year..

What market cap are you trading??
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Five billion up to around 50 billion. Smaller is better; more room for growth.
 
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