Publisher of options newsletter TerrysTips.com since 2001.. Thirty years experience trading options virtually every day. including stint as seat holder and market maker on the C.B.O.E. MBA from Harvard Business School and DBA from Univ. of Virginia Darden School. Author of Making 36%: Duffer's Guide to Breaking Par in the Market Every Year, In Good Years and Bad (4th revision - 2012) and Coffee Can Investing: A Better Idea Than Mutual Funds in an IRA or 401(K), 2014.
TerrysTips.com is a newsletter that carries out eight different option portfolios which many subscribers mirror on their own or through auto-trade at several brokers who make all the same trades in individual customer accounts. Each portfolio offers something different (bullish, neutral, or bearish),and different underlyings (GOOG, SPY, SVXY, and other individual companies).
In 2005, the S.E.C. brought an action against Terry Allen, claiming that he was managing money for people without being a registered investment advisor because of the auto-trade service offered by several brokers who placed trades in their customer accounts based on Terry’s Tips newsletter recommendations. A second complaint was for a single statement on his website that they believed was incorrect and therefore fraudulent.
Although two large law firms assured Dr. Allen that if he went to court on the first issue, he would win because there was a Supreme Court decision stating that investment newsletters are exempt from registration requirements - it would be a violation of their First Amendment rights. However, they estimated that his legal expenses would be greater than settling with the S.E.C. (and a year or two of his time tied up in court proceedings), and both firms recommended that he accept the settlement offer while not admitting any guilt.
The second issue (fraud) involved a single statement that was true when it was written but a couple of years later, option prices fell to 10-year lows, and it was no longer true. The S.E.C. argued that the statement was not removed from the website in a timely enough fashion.
For the past eight years since the settlement with the S.E.C., Dr. Allen has have been publishing the Terry’s Tips newsletter (and recommendations are executed in customer accounts at thinkorswim by TD Ameritrade through their Auto-Trade program), and the S.E.C. has not objected to any of his activities.
Co-Founder of VolatilityAnalytics.com, a proprietary volatility strategies firm. Using creative historical volatility analysis, we are able to provide actionable strategies for hedging, trading volatility, and finding value in today's turbulent markets.
Our proprietary strategies utilize derivatives based exchange-traded products, VIX related derivatives, and options analysis. We have analytics for both retail and institutional investors.
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Long time private investor of Stocks and Options. I have been trading Stocks for 14 years and Options for 12+ years. I am extremely creative when it comes to my trades and I almost always attempt to keep things leveraged. The one thing I've learned is an investor should always be hedged and never be "Naked" in your trades.
The Options Insider.com (http://TheOptionsInsider.com) is the premier online source for free options information. From breaking industry headlines to detailed options education and advanced options analysis, you can find it all on The Options Insider.com. You can even subscribe to Options Insider Radio and ask questions in our Discussion Center, all at absolutely no charge. Our content is provided exclusively by options traders, brokers, market makers and others with a unique understanding of this marketplace. Our network of industry insiders allows The Options Insider.com to offer what other financial websites and print publications cannot - expert insight into the world of options. The Options Insider.com (http://TheOptionsInsider.com) was founded by Mark S. Longo, one of the most respected voices in the options industry today. Mr. Longo is an options trader and former member of the Chicago Board Options Exchange. He is also the creator of The Options Observer, a monthly examination of the options industry that appears in Traders Magazine. Over the years, Mr. Longo's analyses of the options market have appeared in a wide variety of domestic and international publications. As one of the few industry commentators with practical options trading experience, he has developed a substantial following among industry veterans and newcomers looking for insight into this complicated marketplace.