Seeking Alpha
View as an RSS Feed

SteadyOptions  

View SteadyOptions' Comments BY TICKER:
Latest comments  |  Highest rated
  • Weighing The Week Ahead: What Are The Lessons From The Market Turmoil? [View article]
    The situation on Monday was REALLY ugly. Most options were basically untradable.

    What saved us was far OTM puts that we buy every month. While most options traders experienced catastrophic losses, we were able to limit the loss to our iron condor trades to only 6%. The put we purchased for $0.90 were worth over $30 at some point.

    If you really want to protect your portfolios, buying some cheap puts is the best thing you can do.
    Aug 30, 2015. 11:26 AM | 1 Like Like |Link to Comment
  • The Time To Buy SVXY Is Now, And Maybe Again Later [View article]
    "When the overheated VIX index is poised to return to its normal level of 15 to 20, it is payoff time for the inverse-VIX ETF that is SVXY."

    There is no doubt that this strategy worked very well in the last 6 years when VIX always returned to 15-20. What if it doesn't happen this time? How do you recognize in advance if this is a beginning of something bigger like 2008, and not a temporary spike?
    Aug 25, 2015. 03:03 PM | 1 Like Like |Link to Comment
  • How Last Week's Hedge Softened The Blow For Tesla Longs [View instapost]
    Great article as usual David.

    The reason why protection worked so well is increasing IV. Like you said, Options Give You Options. Unfortunately too many people consider options too risky because they don't know how to use them. In fact, if used correctly, options can be much less risky than stocks.

    In this case, the collar would work much better than covered call. Of course this is not always the case. This is normal - no strategy is better or worse than others and no strategy works 100% of the time.
    Aug 24, 2015. 08:52 PM | 1 Like Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    Agree regarding tastytrade. And what is the most alarming to me that so many people follow them because Tom has such a huge confidence in his "system" despite being burned so many times, and keeps repeating that all other trading strategies are "crap".

    Take a look how they do their so called "studies":

    http://bit.ly/1hCueXe
    Aug 24, 2015. 09:27 AM | Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    "Selling a trangle/straddle into earnings is a "RISKY" stuff."

    Finally we agree on something LP. In my opinion, this is a safe way to blow up your account - unless you trade a very small position.

    tastytrade do it on stocks like AMZN and NFLX and are burned cycle after cycle.
    Aug 23, 2015. 11:35 PM | 1 Like Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    "I think it's wrong (conflict of interest) to peddle your stuff here to get subscribers for his business."

    As a subscription service provider myself, I hear similar arguments every day. And I would like to ask you a simple question: do you work for free? I would assume the answer is no, yet you expect Ben (or any other service provider) to work for free??

    To put things in perspective, if you trade a 100k account, and follow a service that makes you 5%/month, that's 5k. Isn't it fair to pay $99 (or even $200-300) out of that profit to the guy who helped you to make that money? In fact, I would consider it a bargain - if you placed you money to a hedge fund, you would pay 10 times more.
    Aug 21, 2015. 06:28 PM | 2 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    When someone uses sentences like "worked perfectly 100% of the time." and "should happen with 100% certainty.", I would be very skeptical to believe anything he says.

    NOTHING works 100% of the time in the stock market. In fact, if you are right 60% of the time, you will do very well over the long term.
    Aug 20, 2015. 11:59 PM | 4 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    "BTW the CALL leg in this trade is not a lotto."

    Exactly my point!!!! You can do what you did if the puts where up 100% or more and calls where almost worthless. In this case by closing the puts you would lock some gains and not much more to lose. But now you sold the puts when the calls still have decent value, and if the stock continues lower, the calls will continue losing whatever value they still have and your loss will become much higher.
    Aug 20, 2015. 06:30 PM | Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    "The story of what happened in the bedroom is usually interesting lol"

    “If you tell a lie big enough and keep repeating it, people will eventually come to believe it." Do you really believe SA readers are not intelligent enough?

    If you have told some of us here we "coulda" benefited from this interesting take."

    My members did. Even those who trade 10k account, paid for 2 years of their subscription fee with this single trade.
    Aug 20, 2015. 01:56 PM | Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    Managing the trade is fine, the question is how you do it. If you implement non-directional trading and then in the middle of the trade become directional by selling one leg - yes, it's gambling. If one of the legs gained 100% or more and you can close it while leaving the second one as a lottery ticket - that's a different story but this is not the case here.

    This trade was a bad trade to begin with because it was initialed so early. There was almost no IV increase in the first 3 weeks, and theta started slowly to kill the trade.

    Waiting for the right time and right price is very important in those trades. I patiently waited for the straddle price to come down from $6+ to 5.25 yesterday before entering and booked 23% gain in 4 hours. Some of our members waited till today and actually booked 30%+ gains. And I didn't take any directional risk like you do now after selling the puts.

    "For QIHU I did not envisage another downside China move that ultimately affected this stock."

    Actually, the downside move benefited the trade, not hurt it because the straddles are gamma positive.

    "For example holding overnight trade for earning"

    We are in a full agreement here, but this is not the issue.
    Aug 20, 2015. 01:24 PM | 1 Like Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    So now you become directional, which defeats the whole purpose of this trade. If the stock continues lower, you lose even more.

    This is gambling, not trading.
    Aug 20, 2015. 11:56 AM | 1 Like Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    "Your QIHU trade is down 17% so far. I paper traded just to see what a loser you are."

    Yes. And this is after the stock moved 7% from the middle of the strikes. It was down 27% at some point.
    Aug 20, 2015. 10:10 AM | Likes Like |Link to Comment
  • A Good Option Strategy: Exploiting Earnings - Associated Rising Volatility [View article]
    We trade a slightly different setup when both options expire after earnings. This is one of our most successful strategies.
    http://bit.ly/1z7jJLP
    Aug 19, 2015. 07:37 PM | Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    You must have a real problem in basic understanding.

    You expect me to post open trades of paid forum where members pay a subscription fee? Why don't you do it?

    People don't have to submit their credit card. It's free trial with PayPal and can be cancelled at any time during the first 10 days. They are charged only after 10 days. Can you say the same about your subscription where you charge $2k in advance, with no free trial and no refunds?

    Yes, you posted prices of ULTA but reported 30%+ gain instead of 26% gain. You also reported 8% loss on CSIQ, a week after closing it (only after Mike asked you) but refuse to say when you closed it. And you call this transparency..
    Aug 19, 2015. 04:13 PM | 2 Likes Like |Link to Comment
  • Gold To Market: Are You Not Entertained? [View article]
    You see what I mean Mike? No response when CSIQ trade was closed, no response why ULTA trade was reported as 30%+ gain. I already caught him lying about his returns at least 3 times, if I followed all his trades, I could probably do it on almost every trade.

    "Transparency" on its best.
    Aug 19, 2015. 04:06 PM | 2 Likes Like |Link to Comment
COMMENTS STATS
2,668 Comments
1,342 Likes