First off he sells naked puts, not credit spreads. Get your facts straight before wasting everyone's time. Secondly, where do you get off telling me what I should or should not post? There is an ongoing conversation here and it's an open forum. Niederhoffer may be old news, but in the same way we can still learn from Livermore or Seykota, there are lessons to learn there as well. It helps if you are not too full of yourself though.
ok no not full of self, trying to learn the people that blew up, yeah everyone ( i think) knows that game. I use this thread t osearch for ideas and research, albeit not much found, most like argue and hear self talk
It's called having a conversation buddy. Sometimes it gets to did/did not, is/is not which is a waste, but apart from that there are still nuggets to pick up everywhere. Good luck with the learning.
While the % otm is one of many useful tools, in determining how likely an option will expire worthless, it is actually a very small part of the reason. And the longer the contract, the less relevance it has. However, it is part of the overall package that assists in determining the outcome. The real determinant is.... "The Overall Package". Not any particular item individually. In addition, while I prefer my stocks remain above their strikes, that is not neccessarily my main goal or objective. My objective is stock and strike selection, that is "recoverable" back to that strike, if the stock should drop below it, because I now own it. While stock ownership is not my objective, I don't fear the possibility. WHY? Because of the "package" I used to select the stock and strike. It's all about the overall package. Not any singular item like % otm, of which the overall package is composed of.
I am here to remind you to post your NFLX fill from the earnings release. You told us you would post the trade confirm.