Yeah I was very suprised that I got filled on calls with Stocks like WYNN (Las Vegas Entertainment/Restaurants). I closed 3 times at 50% profit within 2 days on that one. I was able to sell calls in the 1st and 2nd week, 3rd week opportunities dried up. Def learned a lot, especially when it comes to timing. The deleveraging spiral and fiscal stimulus annoucements have to be timed really well if one want's to go directional
High implied volatility in futures ?! lololol It’s realized vol down there, Or simply “volatility” not implied.
Shall we start with all the flawed studies? Or the studies that show straddles are more profitable than strangles but we keep trading strangles? Or how about the study that totally buggered up buying straddles before earnings, so that it supported their position of always selling premium? Or the studies that show taking a 2x loss is the best strategy but we don't take losses? Do we need to get into their scalping series? Just hold them until you're right pretty much sums it up. Are those part of teaching the necessary fundamentals? In the early years he had Tim Sykes on the show, more than once I think and still hasn't distanced himself from the Supertrader. So the fundamentals are flawed along with their judgement, what's not to love?
Mr. Tasty Trade pocketed $84M when he sold ThinkorSwim to TD Ameritrade...so he doesn't have to answer to anyone. He probably didn't make a dime trading at the CBOE, even when they were giving it away on the floor in the 90's, but he recognized an opportunity (a retail options trading platform) no one else saw. In the end, he's made more money than every one of his peers who used to trade circles around him, and who made fun of him for wearing a beret on the floor. So he's had the last laugh. Now that he's made FU money and has a huge cushion/security blanket, he's trying to master something (trading) he was probably never good at. But he shouldn't be teaching/preaching his flawed approach to a gullible retail crowd that wants to be told what to do. Tasty Trade should really just be an entertainment venue for traders, and not a platform that pushes retail to trade a particular way (only sell options). Obviously, the methodology they teach came home to roost in this environment, and people have gotten killed using their strategies. Even though he's built super successful trading software platforms, you shouldn't be blindly following someone with a questionable trading track record. You have to do your due diligence.
Thanks. As I said, I got it. As an amateur retail, I started watching their video, traded covered calls and cash secured puts on stocks I owned. After six months and hundreds of trades (mechanically executed) I realized it was fool's gold and stopped, changed to other methods. People that continue doing the same over and over and expecting different results should not be trading. I enjoyed your posts and the back and forth discussions. Best regards.
You just said the magic word: Timing, which is also judgement. You need good judgement to be profitable. Anyone who mechanically write options will not be too profitable, even with > 90% high win rate. We new options traders equated high probability trades with profit and thought it was a recipe to generate income. How wrong.
My man, you are the one making claims. If you've never seen Sosnoff's P/L you cant claim his net liq is negative lol this is exactly what you're doing. I've never said Sosnoff makes money as a retail, stop it DTB2 lol
Iron, as you know.. Sosnoff and the tasty team have supplied an astronomical amount of published content on options that no other media outlet has come close to even accomplishing. Market Measures segment ALONE has delivered so much amazing work, let alone Options Jive, Strategies for IRA, Best Practices, Skinny Segments, tastybites, etc etc etc. People can hate all they want, but you cannot knock the platform. Sosnoff knows how to create and deliver great content. Now imagine if tastytrade had a paid subscription, meaning you HAD to pay to access tastytrade content... MAYBE THEN i'd bitch and complain like the dudes in this thread. But this man has provided FREE content. You can even use tastyworks platform for free..
... and there is the irony ... Sosnoff frequently states that "there is nothing more expensive than something that is free"
Not sure if you guys are too bored in this volatile market to bash Tom. Look at what he has done to improve the retail trading scene. Created loads of free trading content for beginners to start out with, Builds TOS which is a wet dream for retail traders doing analysis , introduced cheaper Options pricing that the industry leaders soon followed, etc. Sometimes being too prominent attracts haters.