These are the golden days for all CC sellers

[hdawg87]

It all depends on your strategy. You can sell cash covered/naked puts all you want if you play it the right way. To each his own...

That being said, there are much BETTER ways to play this market, but if you really know/like writing CC/NP's then by all means go ahead and make your money that way.

 

[xflat2186]

You can twist it anyway you like the fact remains that if you had been using a covered call strategy or naked puts your getting hurt badly in this market

 

[Boy Plunger]

Quote from optioncoach:

CC writers are doing better than long stock holders with the same portfolios, but that is like saying an amputee is doing better than a double amputee...

You want one foot or none ?

I trade spreads, funny post.

 

[Boy Plunger]

Quote from xflat2186:

You can twist it anyway you like the fact remains that if you had been using a covered call strategy or naked puts your getting hurt badly in this market

What the hell are you talking about.

The options traders i know use whatever gets the job done at the time.

Let's make obvious generalized observations about hookers, not options.

 

[xflat2186]

There is no generalization if you are doing a covered call strategy here or a naked put strategy you've gotten smoked in the last month

 

[Boy Plunger]

Quote from xflat2186:

There is no generalization if you are doing a covered call strategy here or a naked put strategy you've gotten smoked in the last month

Utter bullshit. And this is not personal.

The put sellers that i know are cleaning up on the products they trade with 2-5 point VIX swings per day. As for covered calls, what i have come across is that traders bring in extra income by selling calls with inflated IV's on longer term holdings and are happy to have the opportunity. So, you can see how i strongly disagree and may have mistaken your post for a generalized comment. Just like there are short sellers that look for and profit on strong rallies. One of the biggest mistakes new and uneducated traders make is wasting time generalizing while they could be learning and refining a skill. Again, nothing personal.

 

[hdawg87]

Agreed, if you're selling LEAPS with this high IV you are cleaning up (provided you're selling the right LEAPS, and not acting like a shithead). Let each trader trade their own way and if it works, it works and it is impossible to refute that.

 

[spindr0]

CC writers are doing better than long stock holders with the same portfolios, but that is like saying an amputee is doing better than a double amputee...

Except maybe when it comes to buying shoes

Funny line, Phil!

 

[spindr0]

Quote from xflat2186:

You can twist it anyway you like the fact remains that if you had been using a covered call strategy or naked puts your getting hurt badly in this market

Covered call sellers never lose on their options. It's the stocks they have the problem with

 

[rallymode]

Quote from hdawg87:

Agreed, if you're selling LEAPS with this high IV you are cleaning up (provided you're selling the right LEAPS, and not acting like a shithead).

The right LEAP? LOL, Lenny Dykstra, is that you?

Sure there may be a couple of put sellers cleaning up in this market but most who sold vol or bought deltas into this decline are getting reamed regardless of how many on ET claim otherwise.