OP, the problem with options is that there is no absolute 'best' , any option play or structure is good under certain circumstances, bad in others. A screener works according to your search criteria, but you must know what you are looking for. In general selling naked like you do is not recommend, but if you really want to do it you must make sure that the premium you receive is rich enough to compensate you for the risk you take. For knowing this you need to research a bit implied volatility, and try to do your selling when IV is high enough and you expect it to drop. And sell few contracts close to Atm rather than a bunch of otm wings, that is the recipe for disaster.
I agree. This is a game where we trade against each other. Experts should encourage beginners and specially gamblers with open arms. Specially in the option market, a bit more volume created by humans and not machines, can only help. I miss the GameStop - AMC reddit saga volatility. Sell naked otm, buy at ask and sell at bid should be the advice here!
Shhhh... don't spoil the virtue signaling, please. Sure, it doesn't make any sense - the OP came in here specifically asking for people's judgment - but somebody has to buy (and, unfortunately, rehash) those motivational posters on the 99-cent discount rack...
Dammit, sometimes I just love the naked, unashamed greed and liquidity baiting in here. THAT's how you do it, people! GET THAT BAG!!! You, sir, have won the Internetz for the day. May all your fills today be good ones!
He appears to sell close to ATM as he takes in apx 1000(spy).I'm assuming when he stated "options to sell" that are worth 1000,he meant 1 10 dollar option as opposed to 20 50 cent options.. What I didn't love hearing was he is right 60 percent of the time and "up overall"... On a positive note he sounds like he is disciplined and takes "very small losses",which I would guesstimate 40 percent of the time?? So he's taking directional bets,selling a/ few 10 dollar options(2.5 - 3 percent of notional?),sets tight stops, "right" 60 percent of the time and up overall. Sounds like he's very modest or his average profit/ average loss is slightly over 1
*cough* We haven't seen an audited blotter yet. And I've heard - please correct me if I'm wrong - that some people occasionally make statements that are less than true (gasp!) on these here Internets...
TacoBell says he was there when 87 crash happened. Maybe, you were there when 1929 happened? Heck, maybe you were all on Titanic dancing? Lol!
You're obv the owner of that OptionAlpha shit. The dude that looks like a Jehovah that saw porn for the first time.