I can't speak for others but I'm satisfied! Maybe you should come to come to a Summit and see for yourself 
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OptionsANIMAL - are they any good
- Thread starter rocky_raccoon
- Start date
I listened to a couple of their pitches. In one, they cited an example where they sold naked OTM $100 puts on a higher beta stock. When it moved against them, as it approached the strike, they created a 1x2 backspread by buying two $95 puts of a nearer term expiration for a cost of just less than the initial credit.
In such a position, there's a profit if the underlying moves big time in either direction but gets clobbered if it doesn't (the upside here was a very small profit if over $100 at expiry).
It was presented as a win-win situation with no mention of maximum loss potential at $95 and a lower loss b/t approximately $92 and $100. They also made no mention of the risk of owning puts with a shorter term expiration against short puts expiring in a later month. It wasn't dishonest, just absent of full disclosure. I wasn't impressed.
In such a position, there's a profit if the underlying moves big time in either direction but gets clobbered if it doesn't (the upside here was a very small profit if over $100 at expiry).
It was presented as a win-win situation with no mention of maximum loss potential at $95 and a lower loss b/t approximately $92 and $100. They also made no mention of the risk of owning puts with a shorter term expiration against short puts expiring in a later month. It wasn't dishonest, just absent of full disclosure. I wasn't impressed.
Questions to all happy customers of this company
I have a simple question, in the Modified collar the website promotes
Is there not a substantial risk in the following situation
"But after the long put expires, won’t the remaining covered call position (long stock, short OTM call) lack downside protection?
In other words after the PUT expires, your have similar risk to a covered call
Can you give an example where stock drops heavenly AFTER expiry of the put
NO BS about how good they are etc .. just PRACTICAL EXAMPLE please of so called "Adjusting a collar"
I have a simple question, in the Modified collar the website promotes
Is there not a substantial risk in the following situation
"But after the long put expires, won’t the remaining covered call position (long stock, short OTM call) lack downside protection?
In other words after the PUT expires, your have similar risk to a covered call
Can you give an example where stock drops heavenly AFTER expiry of the put
NO BS about how good they are etc .. just PRACTICAL EXAMPLE please of so called "Adjusting a collar"
Who is Greg? any way some questions neither these "Guru" educators or their "satisfied customer wont answer is
- If it is so good why are you selling it
- If the "Guru" is a great trader, where is the audited proof ? why do they not publish it UPFRONT
- how come he or she is not managing a fund which publishes an audited record, is scrutinized and regulated
- Why they are not regulated in any shape or form? What they are doing is same as what a CTA does so how come the "Educatiors " are not scrutinised
Very few people ask such pointed questions becasue we all are afraid to ask them and afraid how we will look in a seminar or a webinar in front of hundred's of people
- If it is so good why are you selling it
- If the "Guru" is a great trader, where is the audited proof ? why do they not publish it UPFRONT
- how come he or she is not managing a fund which publishes an audited record, is scrutinized and regulated
- Why they are not regulated in any shape or form? What they are doing is same as what a CTA does so how come the "Educatiors " are not scrutinised
Very few people ask such pointed questions becasue we all are afraid to ask them and afraid how we will look in a seminar or a webinar in front of hundred's of people
They claim to provide education but the price is outrageously high ($6500 or so).
I bet that if you bought a few of the top option books and spent a year reading them and then took their ~ $6,500 tuition and traded it, you'd learn more from that than from a course designed to separate you from your money.
If one doesn't have the drive and discipline to put in the year with the books, then would one have motivation to plod through months (?) of their course work? Just sayin... And who knows, maybe you get lucky with the $6,500?
I don't believe that you can learn trading via recommendations from a service and mentored management of such. You have to stake out a live position and experience the emotions of real money (coming or going) and learn to think real time (risk management) and how to book gains/cut losses as well as consider adjustments at that moment, not in some look back tutelage or book.
Who is Greg? any way some questions neither these "Guru" educators or their "satisfied customer wont answer is
- If it is so good why are you selling it
- If the "Guru" is a great trader, where is the audited proof ? why do they not publish it UPFRONT
- how come he or she is not managing a fund which publishes an audited record, is scrutinized and regulated
- Why they are not regulated in any shape or form? What they are doing is same as what a CTA does so how come the "Educatiors " are not scrutinised
Very few people ask such pointed questions becasue we all are afraid to ask them and afraid how we will look in a seminar or a webinar in front of hundred's of people
the education is excellent, for a beginner or for someone with some knowledge. you get a lot of knowledge from the ground up.
as to your other questions, greg jensen is OA head and he does have a fund with investors. you'd have to ask what his returns are if you're interested, that I can't answer.
the instructors do real trades, with real $$ and they post them real time (both the trade and adjustments). a very, very large percentage are winners, i can verify that. the issue is this: trades done are not a lot of contracts. therefore, the adjustments are sometimes are buying 100 shares to save a 1 contract put spread. theoretically correct, and the trade usually becomes profitable in a month or 2 or 6. however, if you sold 10 or 20 short puts, would you buy 1000 or 2000 shares, potentially holding them for a long time, tieing up so much capital to "save" the trade? doubtful, you close a bad trade or let it expire and hunt for new set-ups. that's reality.
I bet that if you bought a few of the top option books and spent a year reading them and then took their ~ $6,500 tuition and traded it, you'd learn more from that than from a course designed to separate you from your money.
If one doesn't have the drive and discipline to put in the year with the books, then would one have motivation to plod through months (?) of their course work? Just sayin... And who knows, maybe you get lucky with the $6,500?
I don't believe that you can learn trading via recommendations from a service and mentored management of such. You have to stake out a live position and experience the emotions of real money (coming or going) and learn to think real time (risk management) and how to book gains/cut losses as well as consider adjustments at that moment, not in some look back tutelage or book.
i don't agree. the education has a lesson plan, but it also has live chat sessions where the traders go over positions, trade set-ups, adjustments and such. going over option chains and discussing them r/t can not be replaced by a book. it's much more interesting and stimulating and it's interactive.
it's also lifetime membership, so you can be trading, reinforce what you're doing, assess bad trades after the fact, ask questions. as a trader you need discipline for sure. however, you're always going to have questions on trades that aren't working out. an objective opinion can be invaluable at times, worth much more than six grand. no matter how smart or educated a trader someone is, there will come rocky markets and unexpected events that test one's mettle. it's easy to have conviction when you're winning. it's easy to have doubts when you're not. my opinion. read "when genius failed". those guys invented options.