It's all about money. With such information freely available they fear that people no longer will attend their $16k BS courses and seminars, where they "teach" in 3 weeks nothing more than what this table tells for free...
Dude, that analogy is way out there, even for me. And you know you and I click on the same levels with that sort of thing. Wow. What ever happened to the normal stuff like setting bamboo slivers under the fingernails, and then learning stenography?
I'm not gonna defend modern art, if people wanna spend $43,000,000 on the thing below, nobody put a gun to their head to do so: But we're not comparing a kids drawing to a painter's work, we're comparing the craft of different painters. As an analogy of the skill involved in pricing and trading derivatives. Think option trading never evolved beyond the level of this. That's King Æthelred, by the way. Very recognizable fellow, you'd spot him rightaway on the street, right? And the truly recognizable King Henry VIII: To have a chance of competing in the options business (and making money as opposed to having money taken from you), your "painter" skills need to be on the level of "modeling" the latter king rather than the former. That's all there is to it.
sticking to the art analogy.. painting that Henry VIII would be the equivalent of being a pro/hedge fund/market maker. Unattainable level of skill & resources. That Barnett instead.. that's more akin to a small retail trader who found an interesting arb or niche strategy.. It's interesting to note however that those people that became famous for painting the canvas of a single color or sticking a knife in it, were actually fairly skilled in traditional painting. Mondrian is famous for stuff like this: while this is one of his early works: The takeaway being: no matter what, you need to study hard & sweat blood for years in order to succeed.
I said the above statement for extending the table with greeks, but now after thinking a while about it, I come to the conclusion that it doesn't make sense b/c the greeks are derivatives of the used main parameters StockPrice, OptionIV, OptionPremium. Meaning: IMO the table is already "perfect", I doubt one can improve it by inserting into, appending to, or replacing parts by any of the relevant option greeks. Nevertheless, constructive & practical ideas welcome to improve it.
My constructive advice: The table you made could be a reference that you use in conjunction with a ruleset, in order to determine when to entry, when to hold and when to sell. However it's far from being a viable system by itself. You need to define： what is your universe in terms of tradable stocks/derivatives what are your entry rules how do you determine your position sizing what is the maximum aggregated risk of all positions combined what are your exit conditions for: a) profit taking b) cutting losses c) max holding time after that you need to run some backtests using the ruleset above, and only then you will see if what you made gives you positive expectancy or if you need to integrate with something else (as a few ET members already pointed out).
@Baozi, thx, but be aware of the fact that the table covers only Put Selling, nothing more. I haven't tested yet, but for example for Call Selling the result could be different.
That is a safe play. If you think you know what you are doing, then do it, and stop looking here for giving your salad guidance. Just look into yourself and your OWN talents, and make money with it.