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Responsible Options Strategies

|Includes: DIA, IWM, PowerShares QQQ Trust ETF (QQQ), SPY

I had the pleasure to speak with a gentleman from a prominent newsletter service this past week. It was interesting to see just how he traded and how his newsletter service and others that he was affiliated with used options.

As I suspected – irresponsibly. And I told him so.

His response – I was an idealist.

An idealist? Why? Because I do not allow marketing efforts control my options strategies? Because I do not gamble with options by attempting to guess which way an earnings call will go? Because I do not buy out-of-the-money options in hopes that an option will move towards my chosen strike price? I could go on and on.

I was amazed how little he knew about how to effectively trade options. He actually asked me about how I used statistics and gain an advantage in my trading. This man has been in the industry as an editor for several major newsletter publications for nearly 15 years. 15 YEARS!

And yet, he doesn’t know how to create a trade with a probability of success of your choice – be it 70%, 80% or 90% chance of success.

He stated that using credit spreads does not work for the retail public. It doesn’t sell. It’s too complicated.

I could not believe what I was hearing. This pompous man, who had no clue about the true advantages of credit spreads (like in our Theta Driver Options Strategy) basically felt as though the public was too stupid to place a credit spread.

He told me that his marketing department told him not to use credit spreads in their options services as the quick, gambling mentality was a bigger seller.

That might be so – at least for now.

But that is my goal with this service. My goal over the past six years. I do not market, I do not tout outlandish gains. I only try to bring to you the best strategies that I know. The strategies that floor traders use. The strategies that create real statistical advantages. And then I try to incorporate risk-management techniques as well. He actually scoffed at that as well.

If you want an options strategy with a gambling mentality then my service is not for you. I am not a gambler and therefore I do not offer daily trades with no statistical advantages.

Patience is the key ingredient to the success of my strategies and forcing a trade is, in most cases, detrimental to any strategy. My strategies requires patience coupled with a disciplined approach. Waiting for the appropriate scenario to recommend trades with a high probability of success is what makes my options strategies successful.

I am a realist. I realize there is no holy grail in trading. However, one thing I do know for certain is that I have found several unique, and concrete strategies that make the world of sense to me and I trade them to make serious money over the long-term. Furthermore, I realize that the less I trade, the better my strategies will perform over the long run: And the long run is what matters. This is what makes my strategies unique and so far, successful.

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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.