Coach, I took a break from posting lately but I still follow the thread. I wanted to take this opportunity to congratulate you with the new member of the family soon to arrive. Also wanted to thank you for the education and risk management knowledge that you convey everyday. Some people in this thread tend to blame people when they make mistake or dictate to people what to do with their money. I am very open to criticism but sometimes people go overboard. You are a teacher and have special way of communicating wealth management and education. So I would give you my blessing to go out ther and preach the good news. Wanted to thank you and may God bless you and your family. I will not post often but will for sure follow the thread as some aspect of it is still educative
The problem always is that the approach you outline snifss of market timing. You are going to try and time correctly each tranche of spreads you add and most times you will add a small position and the market could never come back and you are going to average in at a lower prmeium then if you simply opened the entire position. My opinion is that more often than not you will be off on the timing and may actually reduce potential income trying to time it right. You can test it out but we need to be in a nice rangebound market where you will not run out of time to get all your positions on. I am looking at JULY once I close off the JUNE call spreads which I need a good down day to do so. I will try today and if cleared I am going to wait for the move to 1260 or so I am expecting (hoping) for and a little IV spike to grab some way the heck OTM put spreads for JULY.
They couldn't have been down more that a minute. My streaming quote window is running fine and still logged in.
No it was my POS computer screen that had a glitch. I closed the window and logged in again. Never mind
OK... thought it was just my PC. Might just call it a night and go off to sleep my side of the world. bit late.