Writing puts on indexes

Naked Put options are a great tool..a money making tool. Entry is key to be sure, especially weekly's....Leaping.. Naked Puts on the other hand are money in the bank. The image of "Leaping" Naked Puts has just got to be a winner..it is in my mind & my portfolio's.

 

Keep in mind I "never risk" any more than I can afford to lose....just like going to Vegas..which I do regularly, whatever happened to those good old $1,000 dollar bills( I remember the Baccarat tables) stacked with $1,000 bills...those were the days.

 

That's BS. There is no way that you're cash secured.

 

Well that very day entry was offered as low as 5.75 that would have been a poor entry..

 

Alas, poor Yorick... I suspect that we shall not hear from him again:

Loss of $3,000 on shares.
Loss of $16,000 on puts.
($19,000)

Nice hedge, Bro. Excelsior!

 

Yorick's Bro: "Nah, bro. Guy's got stacks of Grover Clevelands, James Bond status. This was nothing for him."

 

It's all about the Hamiltons, baby!

 

Well if you liked the 235 strike with those short puts you gotta love it at 216. Double down and sell some more puts. Remember it is only a paper loss unless you quit! (or get a margin call)

 

His trading is quantized. It's not a loss until he observes it.

 

You got it wrong. In his terminology more "Hedging"