The S&P looks very toppy

Discussion in 'Politics & Religion' started by James Stock, Jan 12, 2004.

  1. By popular demand, I am back!

    And I think the S&P looks toppy here.

    That means, it's time to sell some S&P call options close to today's close of 1127.
  2. ig0r


    Wow, that's gotta be the worst way to play a top, am I wrong?
  3. Yes, you are wrong.

    Well, I haven't been wrong yet, so go against me at your own peril.

  4. your right. low reward hi risk way to play a top.
  5. That's according to you. I say it's low risk, high reward.
  6. uh huh... small, finite credit in exchange for infinite risk. I suggest you trade them to the limit of your account.

  7. Again, "small finite credit in exchange for infinite risk" is according to you.
    I disagree.

    And I don't need any help with my trading or your suggestions, but thanks anyway. My trading record blows yours away, and you want to suggest something to me? Geez.

  8. Well then you obviously have major problems understanding the basic tenets of statistical risk -- let alone an understanding of basic arithmetic.

    You're correct, your trading record blows...

  9. ig0r


    Writing options has a defined risk/reward profile, it is simple, a finite reward (the price of the written option) and an infinite risk (if it goes against you and you don't offset, you can lose whole account + more); you can't disagree, it's a fact :) Plus, I highly doubt your trading record 'blows away' riskarb's, he's probably been trading longer than you've known what a stock was (he used to trade OPTIONS on the floor I believe)
  10. Yikes!

    O.K. I've made money 9 straight years, and have had an average gain of 40%-50% on a 7+ figure account. And it's audited. Now if you still think you have a better record, let's bet and use Don Bright as an intermediary..

    BTW, you use the magic words, "if it goes against you and you don't offset". Well, my record on ET is perfect. The only time I would have lost on a major move, I DID offset AHEAD of time. And it's documented here. Please see the last thread "how high can the S&P go". I "offset" pretty damn well there.
    #10     Jan 12, 2004