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Interesting Options Webinar -- Feedback?
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Interesting Options Webinar -- Feedback?

  #1 (permalink)
Trading Apprentice
Houston, TX/USA
 
Futures Experience: Beginner
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Favorite Futures: Options/Ukulele
 
Posts: 11 since Jul 2013
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Interesting Options Webinar -- Feedback?

This weekend I watched an interesting webinar on archive here at futures.io (formerly BMT) called something like Beginning Option Trading by Carly Garner, head of Decarly Trading. In her approach she advocates day-trading selling naked options on commodities.

Because these types of trades are unlimited risk and limited reward, many warn against this strategy in this forum. I believe the more vivid analogy used was "picking up pennies in front of a steamroller."

Trouble is, I just started playing around with this approach in my paper trading account today and found myself up $300 in little more than an hour and a half. So in this case, it was stocks, not commodities but Carly advocates this strategy regardless of the underlying. Any thoughts on this?

Edit: I just noticed this thread (plus its a sticky!): https://futures.io/options-cfd-trading/12309-selling-options-futures.html which covers most of what this thread might have covered. I am interested in the question: After watching this webinar did it change your attitude for this type of trade?


Last edited by Strato; July 30th, 2013 at 01:05 AM.
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  #3 (permalink)
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Strato View Post
This weekend I watched an interesting webinar on archive here at futures.io (formerly BMT) called something like Beginning Option Trading by Carly Garner, head of Decarly Trading. In her approach she advocates day-trading selling naked options on commodities.

Because these types of trades are unlimited risk and limited reward, many warn against this strategy in this forum. I believe the more vivid analogy used was "picking up pennies in front of a steamroller."

Trouble is, I just started playing around with this approach in my paper trading account today and found myself up $300 in little more than an hour and a half. So in this case, it was stocks, not commodities but Carly advocates this strategy regardless of the underlying. Any thoughts on this?

Existing threads for these webinars:

https://futures.io/options-cfd-trading/23231-webinar-carley-garner-trading-options-101-basics.html

https://futures.io/options-cfd-trading/26008-webinar-options-trading-201-spreads-strategies-carley-garner.html

Also Carley has an AMA thread:

https://futures.io/options-cfd-trading/26310-decarley-trading-s-carley-garner-se...ing-ask-me-anything.html

Mike

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  #4 (permalink)
Market Wizard
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Strato View Post
Trouble is, I just started playing around with this approach in my paper trading account today and found myself up $300 in little more than an hour and a half.


I'm sure you realize you could have lost $300 or more in the same time. Great upside potential in options, but your focus should be on the downside - how much can you lose, and how quickly?

If you take care of the downside, the upside should take care of itself (assuming you have a good strategy).

Tough advice to follow, though. After 20 years, I still find myself looking more at the upside than I should. It is a constant struggle for me, and I'm guessing for most others too.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #5 (permalink)
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Day trading options can be an uphill battle because commissions tend to be higher and the spread will eat at any profits. I used to day trade spy options a few years ago but looking back I would have been better off just trading the spy outright or trading the ES. That was just buying calls and puts I have not tried selling options in that short of time frame.

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Jeff Augen is the man

Check out this book. All of his books are great treatises on understanding the nature of volatility in options pricing.

Mike, he might be a good webinar speaker if you can nab him.

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  #7 (permalink)
Site Administrator
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shodson View Post
Check out this book. All of his books are great treatises on understanding the nature of volatility in options pricing.

Mike, he might be a good webinar speaker if you can nab him.

Post it here please:

https://futures.io/elite-circle/3383-upcoming-webinars-training-education.html

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #8 (permalink)
World'sWorstTrader
Knoxville Tennessee USA
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: ES, NQ, CL, /6E futures options.
 
Posts: 275 since Oct 2012
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Strato View Post
This weekend I watched an interesting webinar on archive here at futures.io (formerly BMT) called something like Beginning Option Trading by Carly Garner, head of Decarly Trading. In her approach she advocates day-trading selling naked options on commodities.

Because these types of trades are unlimited risk and limited reward, many warn against this strategy in this forum. I believe the more vivid analogy used was "picking up pennies in front of a steamroller."

Trouble is, I just started playing around with this approach in my paper trading account today and found myself up $300 in little more than an hour and a half. So in this case, it was stocks, not commodities but Carly advocates this strategy regardless of the underlying. Any thoughts on this?

Edit: I just noticed this thread (plus its a sticky!): https://futures.io/options-cfd-trading/12309-selling-options-futures.html which covers most of what this thread might have covered. I am interested in the question: After watching this webinar did it change your attitude for this type of trade?

************************************************************************************
This is just my opinion. Selling naked options may seem attractive, and work great for a period of time.
But the day will come when the Dow Jones will drop 300 points and and the profits you have made for years
will be lost.

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