Who is really making a living trading options??

That edge is understanding how to structure a position that will take advantage of market assumptions.......

.......................................

now thats how to make $
lets assume.

Mcmillan made money in options.
he wrote the tome and flogged it out for $100.00 a pop.

i especially like the part when the trade is on wrong, then you go buy an option to cover your ass.

jam a condor or butterfly up your nose.
alpha bits , beta carotene, pi.

then you pray you will never do it again and if it just gets back to break even.

options are just lame.

just the way it is.

s

:cool:
 
Quote from shopster:

That edge is understanding how to structure a position that will take advantage of market assumptions.......

.......................................

now thats how to make $
lets assume.

Macmillan made money in options.
he wrote the tome and flogged it out for $100.00 a pop.

options are just lame.
just the way it is.

s

:cool:
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???????????????????? wtf are you talking about
 
Then I became an option market maker and eventually realized that I had known nothing.

Now after a couple decades I am wise enough to know that I know very little, and just try to do the best I can.

...................................................

previous in this thread.
option trading.

s
 
Quote from tickmagnet:

there is no edge in options , you buy oversold for bounce , or sell overbought for drop. Hold it or fold it , like in poker.
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........................

put a nail in this coffin.

s
 
Quote from StarDust9182:

"Ok, lets talk about what really gives u an edge in trading options

In my experience:

Options trading is roughly 10 times more difficult than trading stocks.

The depth of knowledge and experienced required to do it properly is enormous to do well. This eliminates many retail traders who want the easy way out. (Buy at the green arrow, sell at the red.)

Options are a vehicle so the statement "edge in trading options" is a bit nonsensical. One can trade an edge in options. One can know more about options than 99% of traders and thus gain some edge etc. Reading 5 books on options, or taking a course, and then gunning the option market makers is just silly. You answered your own question in comment number one.

Many retail traders overtrade their account balances and choose options because they don't have money. I heard of one retail guy who bought 2200 straight call options based on a news article, closed his eyes, and won big. Assuming that was true, is he a successful options trader?

Options are almost always fairly priced. Knowing when they are not is an art and of course can lead to an edge but you need good capitalization behind your edge. Your question makes no sense to me.

Most retail traders are looking for an edge. There is no edge in a tool, generally speaking, and retail traders wouldn't be able to use it. Those with multi-billion accounts could use it.

Better to piss into the ocean in my view.

One more thing. If you think when I place my option trade, I KNOW anything, then you need to go back to school.

If any trading entity (market makers included) could trade 100% right, then you would already know their name.

They would have all the money in the game within a year.

Trading is about probabilities, not certainty.

If you can't deal with that, then you are playing in the wrong game and you will get hurt.

Hopefully that helps you out.
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..............................................................



SD

Better to piss into the ocean in my view........

that is called "watering down" your position.

s




:cool:
 
www.tastytrade.com

That is a free online trading show that is owned by Tom Sosnoff who was the founder of ThinkOrSwim brokerage firm. He sold out a few years ago to TDameritrade for $750.000.000.00

I am not in anyway affiliated with Tom or TastyTrade. But everyday you will see winning trades posted timely.
 
Quote from MACD:

www.tastytrade.com

That is a free online trading show that is owned by Tom Sosnoff who was the founder of ThinkOrSwim brokerage firm. He sold out a few years ago to TDameritrade for $750.000.000.00

I am not in anyway affiliated with Tom or TastyTrade. But everyday you will see winning trades posted timely.
More...

Sosnoff sold ToS to Investools for $340MM well before TD bought the combined company. Sosnoff made $50-$75MM from the Investools sale.
 
They also have their fair share of losing trades. What they do with most of them (losing trades) is buy/sell shares to gamma scalp or sell naked puts/calls they roll until they can close for very little loss or a bit of profit so they seldom BOOK a loss. This takes basically more money than GOD. No way can the average retail trader at TDA trade exactly like they do and make much more than the cost of commish. Having said that, I do enjoy listening to them because they do a lot of research that is interesting and helpful.

and I get it free...
 
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