I didn't say it was easy, but the point is, the strategy itself doesn't have to be complicated. Now picking the right stock and the range, that is where the skill comes in. Check out my thread Iron Condor on Tesla, I picked the right range for 11 months straight. If you do a search with "reddit" and my name as filters you should be able to find the original reddit links. One of the links is here, can you see it there?: https://www.elitetrader.com/et/threads/how-to-make-a-killing-with-options.313633/#post-4522913 The link I couldn't find (but posted it somewhere here) was about a guy who ran up a 2K account to 200K in a year just as an exercise. He used to be a money manager and now is trading for himself. If I find the link I will post it...
Ok, I have found it, it was a private discussion but anyway, the relevant part: "This guy is the real deal. Former investment banker has just ran an account from 2K to 200K, then predicted TSLA just below 400 when it was still <300. Then it will go to 200 then bankrupt. reddit.com/r/wallstreetbets/comments/8p0vot/dont_buy_tesla_they_said_tesla_is_dead_they_said/e0819ns/ His strategy to make it big: reddit.com/r/wallstreetbets/comments/8qkv93/from_2000_to_200000/
Yea vanzandt, they're as real as yours are...and you would know! You asked why I spent $1,600 on a two-lot wing of an asym-fly.
Well, you gotta credit the guy for having the foresight to consider the blowout scenario in advance...hope he was able to cover the cost of the rope with the pennies he salvaged from the blown positions.
Are atm better then otm for this kind of bet? Less time decay and more liquidity I guess. I think the strategy is doable; I've seen today the SPY 281 aug put going from 2,15 to 3,10 so why not..
Mr. vanzandt, I too followed from the first trade: BZUN. Stock prices, option prices, etc. are real as I traded some of the same underlying. Don't know about his entries and exits. But why not, he has nothing to gain faking it.