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Matthew Whiz Buckley

 
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  • Time To Defriend Facebook (FB) [View instapost]
    This trade is currently up 133% or $600.

    W
    Nov 7 08:53 PM | Likes Like |Link to Comment
  • Advanced AAPL BPS Trade Alert  [View instapost]
    -4.40 is the max risk per contract. We're taking in .60 and it's a $5 wide spread.

    We have various risk management criteria at Top Gun Options and the contract size reflects that.

    Adjusting contract size obviously will impact the risk vs reward ratio. This was also a weekly trade. 4 days.

    Thanks!

    W
    Sep 4 05:30 PM | Likes Like |Link to Comment
  • Advanced AAPL BPS Trade Alert  [View instapost]
    Seeking Alpha has long or short as their publishing options...they're not fully up to speed on options terminology.

    We're selling a Bull Put Spread which technically makes us short since we sold the spread.

    Hope this helps.

    W
    Sep 4 05:26 PM | Likes Like |Link to Comment
  • 4 Charts Bears Do Not Want To See [View article]
    I haven't met a human yet that can predict what the right side of the chart will be.

    Not one.

    Whiz
    Aug 16 03:21 PM | 1 Like Like |Link to Comment
  • Opportunity To Get Long Volatility On Market Rally [View article]
    Christopher -

    I could not agree more.

    Vol is historically cheap at these levels.

    Time to become the house and start selling some hurricane insurance while the sun is shinning. If anyone thinks vol is going to stay down here with an election between a socialist and a capitlaist, a war in Syria/Iran/Israel, and a coming fiscal cliff, I've got a bridge to sell you that Ted Kennedy liked to use.

    When vol is cheap you buy it. When vol is expensive you sell it.

    I'm getting long vol like you read about in 'Getting Long on Vol' monthly.

    Whiz
    Jul 3 12:45 PM | 1 Like Like |Link to Comment
  • Getting Hungry On Chipotle [View article]
    Jimmcv99 -

    The Top Gun Options Primary Model Portfolio (PMP) is up over 70% since I became the PM on 1 March.

    In May, the worst month in 2 years in the market, the PMP was up 32%.

    You can take a test flight here and see for yourself:

    http://bit.ly/LOIz1t

    Whiz
    Jul 3 12:41 PM | Likes Like |Link to Comment
  • Getting Hungry On Chipotle [View article]
    Jabbertherapy -

    Care to expand a little on your sophomoric driveby?

    W
    Jul 3 12:39 PM | Likes Like |Link to Comment
  • Getting Hungry On Chipotle [View article]
    Lephturn -

    It's a proprietary tool we use at Top Gun Options.

    You can give it a test flight here: http://bit.ly/LOIz1t

    Whiz
    Jul 1 10:30 AM | Likes Like |Link to Comment
  • Advanced VXX Iron Condor Trade Alert [View article]
    Thanks for all your comments and questions, I will look to knock these out as soon as possible.

    Suzerain -

    I strongly disagree. There's a 'simple reason' you have posted this comment -

    You obviously do not monitor your positions or have stops/limit orders on your trades. At Top Gun Options we close one spread in our iron condors if it looks like we're going to lose 50% of the credit we collected on that leg. And based on our trading SOP (standard operating procedures) we usually make this decision long before we get close to 50% loss. We can either roll the spread up/down and/or out, in addition to closing the profitable spread and/or rolling that up/down for additional credit.

    Iron condor's are not 'set it and forget it' trades. If you're letting a 'spike' wipe out your profit for the entire year you're simply not managing it right in my opinion.

    We employ the iron condor only in certain market conditions and only on certain symbols based on our experience. Our Primary Model Portfolio is up over 40% in the past 3 months - 3 months that have seen some large market swings and events.

    Best of luck.

    Cheers,

    Whiz
    May 29 07:22 AM | Likes Like |Link to Comment
  • Advanced Salesforce Iron Condor Trade Alert [View article]
    There are a couple ways we manage iron condors at Top Gun Options.

    1. We know our max risk before going into the trade so we know if we do nothing, how much we can potentially lose.

    2. At Top Gun Options, one of our trading rules of engagement is that we will close the losing spread in an iron condor if we lose 50% of the premium collected.

    3. Finally, we can roll up or down the profitable leg, while doing the same with the unprofitable leg. With an iron condor we want to split the uprights, but if we shank it towards one of the uprights, we can simply move the uprights...something I think kicker's at FSU wish they could do ;)

    Cheers,

    Whiz
    May 24 10:17 AM | Likes Like |Link to Comment
  • Primary Trade Alert On Green Mountain Coffee Roasters [View article]
    Thanks Dan! Not asking you to risk any money, that's between you and your registered investment adviser, financial adviser, or broker dealer.

    My column is meant to teach people about potential rewards and risks with options.

    Cheers,

    Whiz
    May 22 04:37 PM | Likes Like |Link to Comment
  • Advanced Salesforce Iron Condor Trade Alert [View article]
    Thanks Fastball.

    W
    May 21 11:21 AM | Likes Like |Link to Comment
  • Advanced Salesforce Iron Condor Trade Alert [View article]
    Expectancy is a proprietary calculation we do at Top Gun Options as part of our risk management and trading SOPs.

    W
    May 19 08:52 AM | Likes Like |Link to Comment
  • Selling Options On MGM Resorts [View article]
    Joshua -

    Agreed - when you post an article the wizard only allows you to put long or short, it's built for stocks, not options. They're working on this.

    You're right, at Top Gun Options we're long MGM and using cash secured puts and if assigned, covered calls, to generate consistent income.

    Cheers,

    Whiz
    May 4 09:55 AM | Likes Like |Link to Comment
  • Advanced Trade Alert Bull Put Spread On VXX [View article]
    Lc-match

    This spread could be bought back right now for .14, a profit of .17.

    That's a fairly nice return in a week.

    W
    May 4 09:52 AM | Likes Like |Link to Comment
COMMENTS STATS
36 Comments
4 Likes