And if I couldn't then there was always Phil to lend a helping hand. Sometimes having to roll, sometimes doubling down but always knowing what I was getting into, and feeling very calm and focussed that whatever happened I could handle it. VLO is currently a tad over $35!Īnd as time went by, and I got more experienced – with the help of Phil and the contributions from board members, I started selling short term puts and calls around this position. VLO – sold Jan 13, 17.5 puts for $3.45 – and this trade was placed in August 2011. One example of the power of patience and leaving well alone: January 13 expiration is going to be a big month for me as a significant number of sold put positions will expire worthless. But without such a list, I think it behooves us to call out the trades that have made a difference. The virtuous trade / Phil throws out so many ideas, that understandably he rejects all calls for a running total of how all ""quoted"" ideas are performing – it would be unworkable. The edition of February 26 'Which Way Wednesday – Popping or Topping?', – priceless for the serious investor. PSW – Price/Value The value of PSW on a regular basis exceeds by far the price of the annual subscription. I went LEVEL 4 because of YOU! That's right, buddy!! And I started putting my options trades in my comments.also because of YOU! That's hard to do. I never say it often enough, but Phil – thanks for all the work you do for us. The wonderful resource that Phil has created for us and nourished by its members is so powerful in what it can teach us going forward, but also what we can learn from the past. TZA Aug 35/40 BCS – closed out for a 100% gain in under a month – thanks again for introducing me to these trades. Got in late at 0.53 on the 38p today, set a sell for 0.75 and took the dog for a walk – 70% gain and more than enough $$ to buy dog food. Thanks to all that contribute, and of course to the boss. Up about 8% in 2 months! I think I've learned some stuff here.
Added a little bit more to my son's account. Have a great weekend !!īought some QQQ's today on the dip. Phil, 26% on the week for the 20% I day-trade, and since drinking the kool-aid last fall, the whole portfolio has doubled. What a great way to start the 3rd Quarter. The gains I realized in that trade floored me when I took a long at my portfolio value on Friday. The blow out spike that allowed me to double and roll my callers to 190(!) and the ridiculous 170 weeklies a day away from Op-Ex. The speed at which NFLX options decayed was precipitous. and I get a chuckle out of Cap and Phil's rantings on healtcare, guns, oh, yeah, and government…. FWIW - This site is my brokerage firm, I was with Wells Fargo Portfolio and it was costing a fortune to trade, the costs here are more than offset with the data, trade ideas and profits you should make. The people here are more than willing to help whe Phil cannot get to it. I have been here a year, and made most of my money back from the 14K fall. Seriously my life and my children's is better because of this site. from overseas with confidence even with a paycut at my day job, and literally put me in a different league financially. Literally it has changed my day to day life, has allowed my family and I to move back to the U.S. This site really will teach you amazing things if you just pay attention. (Intellegent Investor, Security Analysis, ect.). Before that I spent at least two years working on Buffet style fundamental investing. It took me nearly two years devoting 3 hours per day to get on the ball, and actually understand portion sizing, and which trades fit my personal trading style. This site has made me tens of thousands, every year since I have become a member. I don't post much, but I guess this morning has brought me out.
That's a lot of money!! $250 moves happen all the time if you just wait for them. Doing that daily/weekly x 48 weeks (assuming I take some time off) works out to 60k per year. Lately, I've aimed for $250 profit per day. I have definitely learned to take smaller wins early and be happy with that. When I think about the money I've made and lost on options, a good approximation is that I win 30% of the time when I do a straight buy I win about 70% of the time when I do a spread I win nearly 90% of the time when I sell naked. If you're afraid to be short, then do a spread to limit your liability. Remember guys, we're allowed to sell options. Unless you know what is going to happen (how can you, unless you have insider information), then do what the smart money does - be the house. I've been trading options since the late 80's and Phil is right. He's given me a different perspective on the market and I know I'm a better trader/investor because of it. Phil has some great insight into the market.