For you other options traders... As I always like to peruse "other" option trading sites just to see what other traders are offering, and just to see if there are any other "nuggets" of info I might find that I don't already know (been trading options for 12 years), has anyone been to or tried out www.deltaneutraltrading.com ? It looks like it's mostly for futures' options trading. Anyone? Thanks.
No, I haven't see the site but am always very wary when anyone states comments like; 'Never seen before' 'Secrets of the professionals' 'Can't lose' etc, etc. Also adds with a lot of consoles (popups) are in my opinion to be avoided
I have. I have been beta testing the software for about two weeks now and have used it a lot. I am not connected with this site or software in any way but I have corresponded with the author for some time and appreciate what he is trying to do. It is still too early to tell on the profitibility but it sure does find some good trades etc. There was a free trial last weekend which I posted here. There are several ideas I would like to see incorporated and have forwarded them. Since it is so fresh there are lots of updates with a major one due soon. Hope this helps and maybe they will offer a free weekend trial again.
The reason this site was never seen before was that is wasn't there before about two weeks ago. I don't believe they have made any claims at all. Only about a dozen people started with this beta and have been helping work out the glitches of installation etc. The author has been very helpfull to others as he has done a spreadsheet comparing brokerage services, fees, etc and runs a thing called skews of the day which is also helpful to some.
The problem with most "picker" services is that the trades unearthed by their systems are usually good in theory, but ignor the reality of thinly traded issues, the thieves on the floor, PDT rule (for some), and the fact that a buck a day * X subscribers is thought to be far more profitable than using the system oneself.
http://www.refdesk.com/ great site when you have nothing to do, or something, make it your home page. ps click on "kodak" under "today's pictures" (about half way down the page, center)
Sunfair, you couldn't be more right on. If you are a user of a picker service and it makes a pick of a farily thinly traded option just watch the price of the option rocket when the orders of all the other subscribers orders hits the MMs and the underlying stays flat. That is supply and demand. The site in question is not a picker service but a software tool to enter your underlying, your target for that underlying and strategy or strategies you want to use then it searches all of the combinations and rates them for risk and reward and provides a risk graph and even a repair tool. A picker service recommends a particular option, the orders from subscribers hit, the price rockets then you can use tis tool to find similar trades in different months or spreads or whatever you like to get around the supply demand problem created by the service and the MMs. To me the best picker service would only be on an issue like options on the QQQ because of the vast volume and a smaller probability the the picker service is large enough to effect the supply and demand problem. Then the picking is a matter of market timimg rather than particular stock fundamentals technicals, or whatever.
OOPS! Sorry, made a mistake. I misread the first post. The site I am referring to is deltaneutral.com not the other one. I see now what you are saying about the hype, just compare the two sites and you will see the difference. Deltaneutral.com is used almost entirely for downloading and supporting a software options tool. Sorry again.