Ahhh,I see you are an "educated consumer" and know what's up I dont love what you are doing as selling 2 -6 day gamma doesnt really accomplish much IMHO.. Whats the sense in selling a cash covered put where you will own the asset down 1-2 percent??
I'm referring to the daily chart/trade of the S&P 500, SPX ticker symbol. I don't use nothing technical or fancy or indicators or volume or anything....I just stare at the smooth line. And get a general, vague, magical, sixth sense feeling of where I currently am, and where the future chart will expectedly, generally, progress and move to for the day. I have the S&P, Dow, Nasdaq, and Russell lines all in the one chart I'm staring at to get a good grasp of the general economy movement for the day.
There is much more to it, then I'm letting on here. I'm just being vague and simplistic here. Regarding my trade process for trading the S&P daily. Assuming, someone can replicate my trade process...they can literally become a millionaire in under a year by growing and compounding their daily S&P trade averages. So yes, I would say my trade process....is worth a million bucks, while keeping a straight face.
do you select your hedging part because of the long term upward bias?(instead of hedging both legs equally) btw experimenting with leg combinations itm/otm (both hedged) also can be interesting, although otm is more liquid and preferable imo
If I may chime in here....it's because he (MackBookProHo) basically doesn't know what he is doing. And he realizes he's just gambling and his occasional wins are merely based on luck. The simple law of averages and numbers. That's why he's scared and so nervous to add on size, grow his account and trades, and compound the overall process.