I think spindr0 is referring to the United States Chess Federation - the good old days! not for people like me who are directionally challenged.
USCF - as I wrote. Clio, Erato, Euterpe and the other gals have great digs a bit up the hill. Bingo! One Kewpie doll for Premium.
Yes and no. If you're utilizing directional strategies then you have to get the underlying right. But many have no clue about the underlying and successfully implement non directional strategies (iron condors) and manage them accordingly.
I was trying to clarify for MathAndLogic that it was chess you were referring to, not the medical community at UCSF. Unless, of course, you were medical. And lived down the street from UC.
Option Spreads are one of the wonders of the financial world, up there with compound returns thanks to the leverage they provide! I give thanks every day that they are available to me. Your comment - "the idea of owning 1000 shares of a stock and watching it make a huge gap down move the next morning scares me." is quite revealing regarding one of your important issues - situational awareness. No matter what you trade you must have a clear understanding of the state of anything knowable that will have a major impact on your position, the most important ones being trend which is closely followed by overbought/oversold but not forgeting impending reports. How these relate can have an enormous impact on outcomes. For example, If you are short, the trend is down and the market is overbought then it would generally take something extreme (rare) for it to gap against you, it will in all probability move sharply in your favour quite often. On the other hand, if you are short and the market is oversold then the odds increase that there may be an adverse move in the offing which could appear as a gap against you, I will leave it to you to figure out the probable outcomes if you were long. There are to many other issues and to little time to canvas at the moment, but the ones mentioned are a good place to start! Best Regards Johno
Ahhh, I get it now I am (was) in medical but I don't live down the road from UC. So now all I have is bad chess pains (cough cough)
is this for real?...honestly...how much do you have to put up margin wise for "worth it" spread option trades per day or week?...meaning...need to put up $20,000 to make $500 per week??...not worth it...please give exact examples...thanks
Stop taking Viagra with your nitro and the chest pains will go away. Trust me I know my dad is a cardiologist