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Selling Options on Futures?
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Selling Options on Futures?

  #7131 (permalink)
Market Wizard
desert CA
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"How to blow up your portfolio in five easy steps"

per the bust. Interesting and warning info on how overly risky on dangerous options plays was done:

"Quite intriguingly, their strategy imploded over the span of just a few trading days."

Last edited by Cloudy; August 25th, 2019 at 02:23 PM.
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  #7132 (permalink)
Legendary Market Wizard
Houston, TX
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Old story by now, but the details on the size of positions was interesting.

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  #7133 (permalink)
Hanoi, Vietnam
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Funny that in the book they barely say anything about increases in margin, and how important that is. They advise to sell options with delta of 2 (very risky) yet ignore other greeks like they are not important. While its true that I have learned a lot from the book and from their blog, the book itself is like a huge sales pitch, giving readers an idea of something too good to be true.

I have realized that so so many things conveniently were left out of their "sales pitch" not long after I started trading real money, and Im so glad I did. Its so dangerous to advise selling options naked without telling readers/retail investors a full picture of how bad and how fast things can go.

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  #7134 (permalink)
Los Angeles, CA /USA
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CannonTrading View Post
Looks like I am very late on this one but great topic and excellent info shared by many.


Sometimes, like yesterday, I will use ratio spreads, in this case buying the 1520 call and selling 2 1580 calls on Sept.. gold options ( 19 days left) for debit ( I paid $450)

A quick update on the ratio spread I mentioned couple of weeks ago. Gold options expired with the 1520 in the money by about $28 and the two 1570 I sold to generate the cash to buy the 1520 expired worthless. It does not always work obviously but it is nice when it does work.

I have a good table that outlines the strategies and when to use etc. but it does not copy/paste well - feel free to PM me and I will send the link. It is on our site > futures trading education >options 101

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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