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Hi ron
I'm not familiar with threads & who controls summary pages but your summary page is blank, perhaps it would help others to have some of your most highly regarded points there,
who does control the thread summary page?
Cheers angelo
"If you believe you CAN, OR believe you CAN'T, you're RIGHT!"
"Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message."
In other words, any user (Elite) can edit the content.
First off I would like to thank Ron for not only sharing his wisdom but as well as sharing his P/L as most people would not do that. It really does give hope for us "little" guys who are just starting out on this endeavour.
Questions for the forum, would anybody look at selling deep OTM calls on /ES ? Reasons are the SP looks "toppy" and Europe is starting to rear its ugly head again.
While you are correct that ES may be topping out, especially with May coming along soon (sell in May and go away) ES calls just aren't profitable enough to do.
You have to go down to 1625 May to get above $100 of premium and that is too close for my blood. Plus the margin on the 1625 is $2435.
I sold the 1250 Puts last week which expire on May 17th for 1.55 and today they settled at 0.75. I was looking into strangling the position but the calls don't pay out enough to make the risk worth it. For puts with about two months out, I can sell 250-300 points away and still get a decent premium and with calls to get the same premium I am afforded only 100-150 points of movement which is too risky for me.
The reason I thought of the notion about selling on the day of or a few days before expiration was when I was thinking about the index options expiring. We had bad weather here this weekend so I put the crazy cap on and pushed my 'what if' button.
Nice stats Ron...My positions are about 1/10th of yours.
For the year (Jan 1 - today) I am up about 17.2%.
Vader Trader will have the results updated when the S&P 500 closes for the month.
Honestly if i can at least beat the S+P I would be happy as I am getting my feet wet with this I am being really conservative right now. So far I've done 4 trades and after this week will be 3 win/1 loss (had to close out my first trade ever which was on /CL when it hit my 200% rule).
