Play small give yourself plenty of room to double/move up the chain in terms of price. – I've spent many months getting hammered shorting overvalued Momos, until, finally, I internalized Phil's message. Phil: I have 263 positions - 70% in options ( balance stocks) in three portfolios with a value of 3 mil. Great call on your part and looking back it seems pretty obvious. I thought it might be fun to see what a winning trade looks like. SPY/Phil, I took a big swing on January 26th following your advice to another member and bought 1615 contracts of Mar 185/190 BCS on SPY that will expire ITM today paying $290,700 on the $500k bet. More important, I could not have done something like that 2 or 3 years ago and reading and thinking about your teachings has been a tremendous asset. Having done all that meandering, I must say it was fun! Now, depending on what happens, I have the luxury of deciding and being in the driver's seat with respect to whether to sell and buy your spreads or not. So, overall, I am happy with the insurance I was able to 'generate' for 1% of the price of stock.
Here is what I did before their earnings…sold 25% of my stock at 147.50Īgainst the rest, I sold the June $140 calls for $8.25, protecting down to $140 if needed.Īnd just for fun, I bought the weekly $145 puts for $1.50( small price to pay if they bombed on earnings) So, not so much a tax issue, but more to protect against a 5% or greater drop. Thanks for your advice, always appreciated.
Since the transfer I've substantially increased my performance in the IRA! This allows me to collect premium, which is, of course, the goal. With spreads I am able to buy calls or puts several months out then sell front month calls or puts over and over. I upgraded my ability to trade the IRA acct. I've recently done exactly what Phil described. TZA Aug 35/40 BCS – closed out for a 100% gain in under a month – thanks again for introducing me to these trades. Got in late at 0.53 on the 38p today, set a sell for 0.75 and took the dog for a walk – 70% gain and more than enough $$ to buy dog food.
Big l put it on bootleg how to#
So, thank ALL of you for being patient and teaching others how to "Be the House and not the Gambler"! Anyway, I have a lot to learn and look forward to the new portfolios. While, I have tried other websites along the way, they don't teach or focus on selling premiums and certainly don't have your mindset. I am about 1000 hours into learning about investing. I think it was a good investment to subscribe… I took RB almost every direction up and down. It is like " laughing all the way to the bank!"
Phil is a master at keeping you laughing, as well as making you money. That's a lot of money!! $250 moves happen all the time if you just wait for them. Doing that daily/weekly x 48 weeks (assuming I take some time off) works out to 60k per year. Lately, I've aimed for $250 profit per day. I have definitely learned to take smaller wins early and be happy with that. I bought DIA calls right when the surge started and then sold them the minute they hit my account. Thank you Phil, I am forever grateful and hope I have helped someone else along the way.įed days are fun! Just for grins I decided to see how much money I could make in two clicks. It's like the old adage about teaching someone how to fish instead of just giving them a fish. I cannot believe the success I have had in the last 6 months because of what I have learned here! It has been truly life changing. 3x till this morning and will 4x my small investment by next OE THANKS !!!! FYI I am a retired entrepreneur formerly in the real estate and insurance businesses.īy the way thank you Phil for the DNDN idea. I have a big take down occasionally but so far I am way ahead of the S&P, and since buying into PSW some years ago by seeing Phil on Seeking Alpha I feel more confident in my abilities. I will occasionally hedge using an ETF ultra. Paid for my subscription!!įrom following Phil I have opened up BCS and occasion will strangle some stocks.
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