Ok, Ladies and Gentlemen I think the thread I started is called "any interesting options ideas now?" correct me if I'm wrong. I don't see any interesting options ideas here now. Thank you for your contribution everyone! THREAD CLOSED
Well proctologists are always looking up and usually dive right in to their work and usually have their finger on the pulse of the market.
i don't think he said he's actually using this in his options class. he thinks it's a metaphor for being thorough, an unfortunate one . .. well if one uses this sort of imagery to describe what one's doing, this makes you wonder . . . whatever
Just so you know, Mark is a dwarf compared to real options traders such as McMillan, Natenberg or Philip Budwick. Believe it or not, they make real money trading options. They feel confident teaching both pros and rookies alike. Mark is only secure among newbies, trying to impress them with new words: "adjustments", "delta", "gamma", "comfort zone" .. . I don't think real options traders like Natenberg or Budwick spend most of their time playing in the Internet kindergarten under different handles.
I posted on another thread and think it might be interesting to add it here too. short near money calls/puts in the afternoon of expiration day. Sometimes within last 30 minutes. Gotta to watch and be ready to buy back - take loss immediately. The idea is your short opts expired worthless. One gotcha, if the company whose opt you are shorting has earning or big news next monday pre-market, your opt may get exercised even if out-of-money if you leave them on the table over the weekend. Happened to me. I shorted BofA call opts, it finished 0.01 of out money. Think I got it made ? Nooo, turns out next monday pre-mkt BofA had big earning and it was pre-mkt. I got ding big time! Out side of that exception I have been profitable 8 out of 10 expirations.
I get big kick out someone like you. It's so easy to make ridiculous comments and knock others when you hide behind that wall of anonymity. Very brave. I never claimed to be a giant. I do not trade a multi-million dollar account. But I have what you lack. Integrity and honesty. I have a real desire to help others get into the options world - and survive. I don't sell over-priced and over-hyped newsletters. I provide honest opinion and information that has proven to provide valuable information for my followers. I speak and write in a language that others can readily understand. Why other books for beginners are poorly written is something I don't understand. If you were to read some of these books you would see that at least two of them were written by authors who bluffed their way through the material. The books sell, but they are trash. I have the ability that few other authors have. I explain carefully. I do not talk down to beginners. I tell them honestly that option trading is no guaranteed path to wealth. I stress the importance of managing risk - something most others ignore. That's my writing talent and my readers love it. You and your not-so-hidden agenda just don't get it. That is ok with me. I have no need to work with professionals. They can further their education elsewhere. But more than that, why is my unwillingness to work with professionals a negative in your view? I have no interest in working with people who would not benefit from my skills. Different handles? I've had one name, and one name only for many years - and never used any other. I'm proud of my work and am glad to make others aware of it. You obviously cannot say the same. Mark http://blog.mdwoption.com
"I don't see any interesting options ideas here now. " You might not be getting any intersting options ideas but this is definitely the most entertaining thread I've read in awhile. But for ideas here you go: short 10 ATM puts on the SPY on Monday and I'm sure you'll have an interesting summer.