I never took thier classes, just used the analysis software and hung around the bboards for a while. I was reffering to what's becoming a cult like culture on the bboards. You're in favor with the gods or you're not. BTW, I saw Phil make a new friend there a while back. I had to snicker. BAD PHIL! BAD. Now you'll never be 'in'.
Coach, thanks so much for pointing me to the Options Thread and the Journals Thread. For sure I'll check them out. By the way, for the past three months or so, I've been concentrating principally on AAPL. Mostly, I'm shorting the stock and buying calls...frequently adjusting to control the net deltas. I also keep an eye on the IV of the current month Puts and when it spikes about 4 times a year, I write covered puts against some of the shorted stock and can usually pick up a few quick Vega dollars. For some reason, I've always been enamored with shorting stocks, but for obvious reasons can't do it with a dividend paying stock. When blended with long calls it's usually a piece of cake to adjust the deltas, e.g. if for whatever reasons I want to pick up a quick 60 negative deltas I often short a quick 60 shares...and sometimes during market hours I will do something sacrilegious and even do it with a market order. I may not be smart, but I do have fun. Actually, it's something I picked up from reading a few different things that Scott wrote. Let's face it...when it comes to money making ideas, I'll listen to anyone.
Hey Phil, look, they installed a sense of humor in Bob. Haha, just kiddin' Bob. Good to 'see' you too.
jimmyneutron Registered: Dec 2006 Posts: 55 01-03-07 07:46 PM -------------------------------------------------------------------------------- Quote from Bitstream: welcome back dude. gald to see u here. -------------------------------------------------------------------------------- 'Innit so! Well, for as long as it takes them to ban the IP on my new, super-fine fiber connection.
To be honest I do not and cannot see what is so great about the option forum on ET. I used to browse it something ago but got bored becasue there is never anything useful on here and too many egos. Browsing through the arhcives it is devoid of anything that will improve my trading. There tends to be too many people giving it to each other rather than helping each other out and sharing ideas. Probably the only decent thing on here in terms of options is the SPX trader journal but this turned into a monster being far too long. Sorry for the whinge but that is how I see it. OTM
OTM There is a lot of very good stuff here. Unfortunately it's hidden amongst a lot of rubbish and fisticuffs, aka 'boys letting off steam', lol (even I was sucked into a heated exchange with one fellow with the handle wayneL and then some other fellow who apparently doesn't like gays - Lord knows what he was doing on an options forum). At 'optionetics' it's a lot neater but nowhere near the variety of discussion you'll find here. You need to remember that optionetics teaches a certain way of trading and the people on the board (mostly their own students) will ask questions in relation to the teachings (sounds like gospel, lol). Thus one gets a limited perspective. Not necessarily bad, but limited nevertheless. If you want to go a little outside their basic teachings you'll have to take one of their advanced courses and/or join (pay) their advanced discussion group forums. Here it's all free. But remember, you get what you pay for (most of the time, the same a collar and synthetic vertical are the same most of the time, lol). Btw, a lot of the high calibre 'unbiased' contributors have stopped posting at optionetics, sadly. Long live variety daddy's boy
Got to change your handle to delta scalper lol... Some of the "instructors" there do know about options and trade their own way and share the info, others just parrot the 5 minute formula or straddles, so you got to dig through to find it lol. I remember when I was on the boards, the folks at Optionetics would specifically say that the boards were to discuss options and not Optionetics and if anyone had any question they could just call in or e-mail one of the O people. That kept it very general. Hard to believe but that actually pushed keeping O discussions off of the boards lol. Now as Daddy pointed out it is more focused on their teachings so very much more narrow scope.