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I am an Options Spread Trader with a bias towards Bull Put Credit Spreads.
I am a big believer in acquiring equities...only if I make a mistake by selling the OTM Put option to close to the current price action. My goal is to collect premiums, monitor time-decay and close positions quickly if they go my way or not.
I am a Premium collection agent, in essence. Selling options, in my opinion is the only way to trade them. If I get an Equity PUT to me, then I am seeking premium by selling a Call OTM as quickly as possible to unwind my mistakes. I do put in PUT stops, but sometimes if I see an equity sell off into Support, then I will hold and take the heat and accept an exercise against me.
I am a
chart reader and use candlestick formations with a look at Support, Resistance, Wedges and the like. I do not Sell Put spreads if the Chart is against the trade. One can always wait a day or two for the right Price Action.
I am Reading and learning from Al Brooks.
Bonds, Options, Stocks - long, Stocks - short
Have a high 7 Figure portfolio of Bonds, Cash, and Futures Trading Margin Account. I take a practical approach to investing based on timing driven by Technical indicators and fundamentals....
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with Bull Put Credit Spreads.
Mar 16, 2010
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