Hi. New to the forum. Been beating the S&P500 since 2006 (when I had any money to work with). Currently working ~98k. $48k in my options account. Most recent string of trades: I am a project manager at a software company by day, options trader (spread seller) by day when boss not looking. Austrian economist by night. Usually do credit spreads, diagonal calls (~57% on MA long 2011/2012 calls @ 195 strike while selling current month $245-260 calls for a few months). Fair bit of covered calls along the way, but definitely in favor of diagonal calls for increased leverage/yield. Got real jittery in April. Russell 2000, which as been my focus of late, got way too rich for my blood. I like to approach premium selling as an insurance business and I am not willing to sell insurance on this market, so I am currently waiting for better valuations. My long term goal is to get into the interactive brokers portfolio account, borrow $500k, and reduce my yield targets/increase my probabilities and do 1-2% a month returns. So, whats up?
whats up?..... bad jokes by spin, fawns from dona, azz kicks from attikuz, "dont touch this" from hoco, welcome to the forum.... tl
Thats retarded. He's talking about 1-2% return on his equity or account, which is respectable. You are still talking about one trade you made like 6 weeks ago (and a 1 lot at that). Why not mention your starbucks trade too, where you lost 100%? Also, he's not looking for people who edit their loser posts into winners. This isn't a game where the person who happens to buy the 5 cent option that makes some money wins.
Those are impressive, but my goals are reliable and consistent profits. Right now on my credit spreads I have been going for 3-8%. When I do a diagonal call, I look for a ~5-10% monthly yield on the short call with room for 10-15% capital gains on the long call. I have to travel a lot for work and I am not always near a computer. So I need ~90%+ probability to not worry. Also, I don't day trade. Usually just set my trades up from the month and leave them alone.
Do you have a link? (I think I made about 15%) PS ..... Nothing wrong with 100% loss, because maximum reward far surpasses the maximum risk Do you have a link? It's all about making money with options. Nothing wrong with that.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=219401&highlight=forexforex+sbux If a 700% gain is great then isn't a 100% loss terrible? The post you edited: http://www.elitetrader.com/vb/showthread.php?s=&postid=3155135#post3155135 The post you got caught: http://www.elitetrader.com/vb/showthread.php?s=&threadid=218889&highlight=Goog+forexforex That's my point. It's about making money, not about who bought the tiny option and made money on it ignoring all his other trades.
Good job in managing that risk. I personally liked that trade. I thought it was good risk reward. Response to the other set of threads? Response to my comment about total pnl and the pnl of one position?