"I have a dream" - Martin Luther King For as long as I remember I have always wanted to be a hedge fund trader, and everything I ever did was try and get to my goal. Sadly I didn't live in the right country when I went to school, and as a result my awesome career on wall street was DOA. Here is a lesson in never giving up. I always believed that just because I wasn't given something, didn't mean I couldn't get it. No I do not mean getting it by illegal means. What I mean is that I would just look at it as a challenge and work that much harder until I got what I wanted. This allowed me to succeed in many areas of life, but I also paid a hard price for it all. Sleepless nights, stuck by the computer while all my friends were partying it up. Im not on wall street yet, and no hedge fund in sight, but what I do have is seed money and an opportunity. ( in poker that's called a chip and a chair). It means I have a chance, I will write my own history and I either will get to my goal, or fail. ( or just become rich, but not rich enough to have my own fund... ill be ok with that) This blog is a way for me to show my talents, and post my trades. This will allow me to be honest with myself, hopefully help others and grow a following.
I didn't sit by the computer playing solitaire.. I was developing that edge. After all the seed money wasn't found on the street
ok, thanks. Again I'll wish you luck and we need more option journals. I hope this is not another nickel, dime, quarter journal where the author takes risk of 10-20x prem.
Sorry to be a bother, but what does that mean? I wouldn't want to do something that is not welcomed here. Thanks in advance
No, no worries. Just an opinion. Meaning selling dime 20/25 put spreads, as an example. We get a lot of that here.
So what I target is big cap stocks in which I can sell spreads that are 30-75 days out and 10-15%+ downside protection while yielding more than 3.5%. so on 20/25 it would be hopefully more that a dime let me know...
It's not my thing to do so, but have at it. GL>. A discrete vertical is a digital option, so you may want to calculate your (short) strike touch and expiration probabilities in something like ToS or Hoadley. It can be useful when calculating your "edge."