SPX Credit Spread Trader

Quote from yip1997:

Mark:

Thanks for clarifying.

I just read that you have a new book coming out.

Recently my option trading strategies are getting attention in my investment/trading club, and they would like to learn trading options. They like me to introduce them some option books for beginners. Is your new book target for beginners?
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It's called <b>The Rookie's Guide to Options</b> and is targeted to people who are first learning about options (although there is also some more advanced material included).

I believe options make a great tool for investment clubs. The only problem occurs if an adjustment of some type is required between meetings.

The 6 strategies taught are:
Covered call writing
Collars
Naked put writing
Credit spreads
Iron Condors
Double diagonals

I go into great detail, trying to help readers really understand how to open positions, manage risk, and close positions.

If you do decide to get a copy for each member of the club, let me know and I'll try to work out a better-than advertised discount from the publisher.

I also emphasize the necessity of risk management, That's an overlooked topic in other books.

Mark
 
Quote from yip1997:

I knew the title. Is it for traders or for investors? The title seems to target for traders, but not many strategies are introduced.

I have introduced them the covered call, cash-secured put writing, spreads as well as this thread. Just want to find out a better way to bring them to the next level.

Perhaps OC's book can help too. :D
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Any strategy can be used by short-term traders, but the premium-selling methods I recommend is suited for investors with a time from of one to two months.

Not too many strategies are introduced because it's a book for beginners. My emphasis is on CONSERVATIVE, risk-reducing methods.

In my opinion, the strategy chosen by the investor/trader is important. But, to be successful over the long-term, risk management and money management are the MOST IMPORTANT skills that must be learned. Thus, I show readers how to adopt 6 basic methods, but stress that the management of risk and the prevention of large losses is crucial.

There are other topics of importance in the book, such as understanding equivalent positions.

Thanks for asking.

Mark
 
Anybody know how the index options like SPX, NDX, and RUT are going to be settled next Friday March 21st. Markets are closed so are they going to use the closing prices of Thursday for the cash settlement?

Thanks
 
Quote from huh:

Anybody know how the index options like SPX, NDX, and RUT are going to be settled next Friday March 21st. Markets are closed so are they going to use the closing prices of Thursday for the cash settlement?

Thanks
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Wednesday is the last trading day before Thursday morning settlement.
 
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