Vertical Spreads for Aggressive Growth

cashe and cm2 , no problems !
I just was trying to share another retail trader's opinion/experience. As a beginner , I tried all kind of simple (and complex) option strategies , before I understood that the only realistic way for retail to make many is via high variable prediction ; the rest ( how to enter , when to adjust) is just a technicality. Since then (five very profitable years now) I never looked back.
Good luck both.
 
Quote from IV_Trader:

cashe and cm2 , no problems !
I just was trying to share another retail trader's opinion/experience. As a beginner , I tried all kind of simple (and complex) option strategies , before I understood that the only realistic way for retail to make many is via high variable prediction ; the rest ( how to enter , when to adjust) is just a technicality. Since then (five very profitable years now) I never looked back.
Good luck both.
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IV: Care to explain more "high variable prediction"?

Many thanks,

Ben
 
Had to go ahead and buy back the short leg on the BSX bear call. The shorts were 0.25 ITM with one week left. The underlying is having a hard time getting through the support @22.65. I actually think they are going to use 22.60 as a really strong support so I ruled out a possible roll to next month. Didn't want to sit around trying to squeeze an extra $10 from the trade either.:D I only made a little bit, but I came out ahead of break even.

I'll post P/L a little later. I'm hunting a couple other fills right now.
 
Today's Action

BTC 2 BSX MAR 22.5c @ 0.55

STO 4 AAPL APR 65/62.5 bull put @ 1.15

Year to Date P/L

Account Value: $10,284.00

YTD Gross P/L: 410.00

YTD Commiss: 126.00

YTD Net P/L: 284.00

YTD % P/L: 2.8%
 
Quote from Cache Landing:

Had to go ahead and buy back the short leg on the BSX bear call. The shorts were 0.25 ITM with one week left. The underlying is having a hard time getting through the support @22.65. I actually think they are going to use 22.60 as a really strong support so I ruled out a possible roll to next month. Didn't want to sit around trying to squeeze an extra $10 from the trade either.:D I only made a little bit, but I came out ahead of break even.

I'll post P/L a little later. I'm hunting a couple other fills right now.
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By the way, I'm still bearish on this company overall, just not short term. They jumped up because a high level exec. bought some shares. I don't think that will save them long term though.
 
It appears that I could've had better timing on the AAPL bull put. Too hard to time the bottom exactly though. We'll see what happens over the next couple days. Once MAR closes out I will need some bearish positions, so I'll be looking hard. I have a feeling I'll end up in SPX once it gets back up close to 1300.

I'll be going away for a few days. Wedding in southern Utah, and going to hit up Vegas while I'm down there. We'll see which I'm better at.... trading or poker. Happy trading to all.:D
 
Quote from Cache Landing:

I'll be going away for a few days. Wedding in southern Utah, and going to hit up Vegas while I'm down there. We'll see which I'm better at.... trading or poker. Happy trading to all.:D
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You just have made some money, so you want to spend it in Vegas... What a life...:D

Have fun.
 
Well, it turns out that I am better at trading than poker. I think the problem is that I play poker like a trader; very calculated and strategic. I seldom feel the urge to "gamble" so I rarely bluff. I'm sure some of the good players could figure me out pretty easily. Anyway, I'd rather be a good trader than a good gambler.

That was a nice little vacation, but now it's time to get back to business. MAR expiry is rapidly approaching. No adjustments necessary yet. Fingers are still crossed. :D
 
Quote from Cache Landing:

Well, it turns out that I am better at trading than poker. I think the problem is that I play poker like a trader; very calculated and strategic. I seldom feel the urge to "gamble" so I rarely bluff. I'm sure some of the good players could figure me out pretty easily. Anyway, I'd rather be a good trader than a good gambler.

That was a nice little vacation, but now it's time to get back to business. MAR expiry is rapidly approaching. No adjustments necessary yet. Fingers are still crossed. :D
More...

You were still doin` much better than I was. Many years ago I was daytrading Yen for living.. when I went out for the weekend to Atlantic City there was no fun, as all gambling seemed to be boring to me at that time. That was the sign showing what kind of crazy life I had as daytrader.

Frankly, I do not like when market is so quiet, as recently. I am instinctively careful with position size waiting for the storm.
 
Quote from ChrisM:

You were still doin` much better than I was. Many years ago I was daytrading Yen for living.. when I went out for the weekend to Atlantic City there was no fun, as all gambling seemed to be boring to me at that time. That was the sign showing what kind of crazy life I had as daytrader.

Frankly, I do not like when market is so quiet, as recently. I am instinctively careful with position size waiting for the storm.
More...

I know that it is a topic of much debate, but I don't consider the way that I trade to be gambling. I don't ever get as nervous trading options as when I'm all in on even a decent hand. If it ever got to the point where gambling wasn't exciting I would know that I am taking too many risks trading.

As it is though, trading is relaxing for me while keeping me alert at the same time.
 
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