Roll Call: Options traders

[murray t turtle]

Quote from vega:

There are pros and cons to both options trading and just trading the stock/SSF outright. But I believe that the point lindq was trying to make is that generally when trading options, most people (and don't take this the wrong way) but especially those new to options trading tend to take on positions that are much to big for the acct they are trading. Put it this way, even if you're dealing with 25 delta options, and you sold a 20-lot of calls, you have to ask yourself if you are comfortable being short 2000 shares of the stock at that strike price, if that size is not something you (or your acct) can tolerate, than perhaps you are abusing the leverage offered by options. There are the obvious benefits of being short options, time decay being the biggest, and yes you can get just as hurt (or worse) in a position in stock/ssf, I think the point to be made here is trade within you limits.

Vega

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I like the way Don Bright & Top trader Jim Rogers dont care much for buying options.

All the patterns , many time frames ,Ive seen & occasionaly invested in are very complex . Add slippage to the complexity.

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ANY one want to speculate how Mark Weinstein [interview, Jack Schwager proved] turned 100k into 900k, in a recorded option trading contest???????????????????

I've meditated on that for years;

[a] Mark Weinstein is honest;
honest enough to admit that contest was organized by ''two traders on the CBOE floor''

Not by gunslinging;
ultra conservative,
quote ''without any pyramiding [using profits to increase leverage]

[c]Mark does combine brillance with hard work; realized a big cat, like a lynx could be a role model for a position or swing trade.

[A-Z] He admitted it was organized by 2 CBOE traders.
Perhaps they started it at the start of a directional, trending bull market like this year.

Perhaps thay also started it in the generally strong first or last quarter;
admitted the contest was for ''3 months''
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Perhaps Mark listened to that old pattern tape titled ''Acres of Diamonds''

 

[iceman1]

Quote from DblArrow:



I heard his advice and opinions - does that make them the only viable option and must follow?

I did wish to hear his opinion that is why I asked - and there was nothing in there that I have not heard or come to the same conclusion myself. Doesn't mean I didn't hear it. As I said, I appreciate his advice and opinion, gives an outside perspective similar my own - however as I stated I am boneheaded and will try it anyway until such a time as I have my butt handed to me.

There is, more often than not, bickering due to a difference of opinion on this site. If I choose not to heed his or anyone elses advice it that wrong - no - its called a market. Why do those that give advise and opinions get so put out when newbies or people trying something for the first time do not follow and heed that advice; never ceases to amaze me.

Then also you did as a large majority of the posters here do also - berate someone for not taking some elses advise. Jump in a thread and add NOTHING constructive.

Make 'em pretty, Chris

don't worry bro.. the market will be your best teacher... and spank you if necessary! And remember this Mr. Market Wizard...... don't get too over-confident or complacent... beginner's LUCK is the kiss of death! :eek:

Ice

 

[Lovelitera]

I like to trade oex options on expiration day. The premium is almost zero. I usually put on a straddle and most of the time one of the legs works out.

I also like to scale up and down low cost options. Risk is limited and one can benefit from the wild intraday fluctuations that happen on some days.