OK Anseld, I'll amend my statement. Only 95% depreciate on Thursday or Monday morning. In the meantime, I guess riskarb has some data for you to look at. LOL.
Writing options for a living
- Thread starter torontoman
- Start date
OK Anseld, I'll amend my statement. Only 95% depreciate on Thursday or Monday morning. In the meantime, I guess riskarb has some data for you to look at. LOL.
From what I have read about Ansbacher, he is a pretty decent directional trader. His system does not just blindly sell premium at will. I believe he sells premium where he believes there are suppport and resistance levels. It's not really an argument for option selling, more of an arguement for good directional trading.
hey John, i couldn't resist. i'd rather get roughed up here than by the market. i made the mistake of telling people they will never find a system to beat the market and for that matter will probably never make money trading period. next i have to break the bad news about santa and the easter bunny.
Anseld, we can disagree on things all day long. But do me a favor, between myself, riskarb and now dummy-variable, we have about 30 years trading experience between us. Don't come in here and talk about easy money. There is no such thing. Anyone that trades options for a living knows that making a living trading options is the hardest thing in the world. Whenever I hear people say things like easy money, it's only because they haven't traded a contract in their life. Professional traders never never never use the phrase easy money. Never!
let me rephrase. it's not easy money. it's higher probability money.
but unzipping our pants and showing the size of our wieners is not really what i care to do unless you really really want to see.
if you are familiar with options writing, you would know that selling options towards the end of the week is easier than doing it on monday so you don't have to deal with that many movements. when you do it on monday, you basically have a whole week to adjust. but when you do it towards the end of the week, you have less days to deal with, and since the markets aren't open on the weekends, it's really only 2 days or so of activity where you have to adjust your position. you seem to be really intimidated by frontspreads, so you're telling everybody else how incredibly hard it is to trade it, for some reason.
but unzipping our pants and showing the size of our wieners is not really what i care to do unless you really really want to see.
if you are familiar with options writing, you would know that selling options towards the end of the week is easier than doing it on monday so you don't have to deal with that many movements. when you do it on monday, you basically have a whole week to adjust. but when you do it towards the end of the week, you have less days to deal with, and since the markets aren't open on the weekends, it's really only 2 days or so of activity where you have to adjust your position. you seem to be really intimidated by frontspreads, so you're telling everybody else how incredibly hard it is to trade it, for some reason.
i would guess not. a predetermined exit is the equivalent of holding a shorter term option to expiration. it's just a little more complicated because that expiration date is unstable. but think of it this way, if you buy a three month call and then say you will exit if the underlying is unchanged in two weeks. it's as if you bought a two week option and held it to expiration. any option bought or sold and held to expiration without some corresponding adjustment in between will have zero expectancy in the long run.
theoretically yes. but the options ARE priced efficiently. or at best, we can never know when they are priced inefficiently.
Oh man, where to begin here. Anseld, it doesn't matter when you sell premium, it's priced accordingly! There is no shortcut to selling premium by selling it later in the week. Later in the week it gets discounted for being later in the week. LOL. What do you really think these option MM's are giving away free money? It doesn't matter what day of the week you sell premium on.
And I have to say this again, you obviously have not read my previous 3k posts on here. I am known on this board and in person as being a notorious front spreader. LOL. I have no problems with selling juice. And it's really starting to annoy me that you do not read my full posts. I never said selling premium was HARD!!!!! I said trading options period is HARD! It doesn't matter if you sell the juice or buy the juice, it's still very hard!
Why does this concept keep going over your head? I have not made one argument on this thread against premium selling. I simply have said there is no edge in selling juice over buying it. That's it!!!!!!
You are the one going around telling people how easy it is and all you have to do is sell juice and you have some kind of magical system. Christ man, if I didn't know any better, I would think I was at an Optionetics seminar. Are you going to ask me for my credit card next? LOL.
The more I read your posts, the more I am beginning to get the feeling that you are trolling for clients or something. Are you trying to get guys to PM you? What are you trying to sell? Because the only guys that talk about how easy option trading is are guys that are trying to sell something. Maybe I am wrong about you, but I don't think so.
Mike, not all in one day man. It's too much for them. Wait at least a week for this system thing to set in then break the news to them about Santa Claus and the Easter Bunny. I have found that it's easier to spread this sort of stuff out over many weeks rather then laying it all on them at once.
