Yes then they would be called Daylies, not Daily Expirations. When one is talking about Daily Expirations right now, Weeklies with Daily Expirations is what comes to people's minds.
%% Exactly; i remember he had some stocks in Roth or like a retirement fund. Even though i don think he ever retired ,except may be retired from options
%% LOL May call in Hank Williams JR; nothing like good country youngster with a gunsmith co + Gattling Gun...................................................................................................... Bill RGR had one of those also........................................................
This is an open forum run in a democratic country not the military where there is a hierarchy for a reason (and even that, there are military laws that specifically forbid abuse, hazing and bullying) Everybody has the right to speak their mind here even mindless trolls (unfortunately) without being systematically harassed or stalked especially being picked on for typos and not even for their contents which you idol had(have) no understanding of or didn't(doesn't) even bother to understand. LOL What your idol did(does) was(is) crap and he(it) should've been banned permanently a long time ago. The fact that he(it) was(is) not is quite "intriguing". That's all I can say.
After looking into that, and making exactly four trades, where I sold SPX ODTE put credit spreads, I came to the conclusion that credit spreads are a siren's song for noobs. lol From what I could determine, the risk:reward is always upside-down, so even if you sold a 10 or 5 delta spread, with a 90 or 95% chance for success, the 5-10% of the time you lost would put you in the hole once you factored in trading costs. Another thing I didn't understand: It seems the premise for selling a (short) credit spread is because you *believe* price will close higher than your short strike at the end of the session. Yet, traders I was watching were stopping themselves out long before their short strike was even close to being threatened. And a lot of those trades would have been successful had they held all the way to the end. Probably missing something here, but if you aren't willing to hold through the entire session, then why enter the trade in the first place? I mean, if you stop yourself out, you apparently never believed your original premise in the first place. Just didn't make sense to me. I'm not saying you can't make money selling credit spreads, but it reminded me of how the vig (along with odds) in casinos makes it impossible to win long term. Granted, market odds aren't set in stone like in casinos, but still...
If you short a put spread yes. If you short a call spread, you want the opposite. You want the underlying to close below the short strike. Due to the option having higher value than the diff. between the strike and the underlying price when there is still some time left to its expiration, a phenomenon called "extrinsic value", even though the short strike has not been touched but the price on the spread has already increased so much that it's threatening their profit or has already turned their position into a loss. So in order to minimize their loss or walk away with still some profit left, they choose to close out the spread or just the short position. The underlying does sometimes reverse back later but that's not something that the trader can foresee and the trader just doesn't want to deal with a bigger loss from assignment if he/she holds it all the way to the end. Traders stop-loss or tp early on their trades all the time doesn't mean that they shouldn't have entered the trade in the first place. Stop-loss or tp early just means that at this moment, the trader doesn't believe the position would be profitable or more profitable anymore. Traders are required to adjust their positions throughout the entire time when trading according to new information. That's what we traders do. Some traders do hold the position till the end and just choose to deal with the consequence of being assigned and sometimes they are rewarded for their resolve in "standing their ground" sorta speak when the market reverses but you never know. Everything is down to probabilities.
Yo need to read a book on options.. Not an insult, you need to understand the basics, and the input in this thread is hazardous to your financial well being..