OptionsProfits

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LB
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LB
August 4, 2010 10:47 am
TheStreet.com’s OptionsProfits: Indiscriminate and irresponsible selling of Premium. High probability trades picking up pennies in front of speeding trains. Example1: (Wed Aug 4th, SPY 112.8) “”We are selling more weekly puts on the SPY and adjusting our cost basis. SPDR S&P 500 ETF Sell to open SPY 1 Aug 109.0 PUT (O:SPY\10T06\109.0) at 0.14″” Max win $14 – 5% drop in SPY to end this week would lose $184 – good risk/reward? Example2: “”I am using the recent sell off in Waddell & Reed to accumulate shares and write puts. Waddell & Reed Financial Inc. Buy 500 shares of WDR… Read more »
Steve
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Steve
August 18, 2010 6:57 am

I’m not sure it has to do so much with being irresponsible as it is a lack of creative ideas. As an aside few people follow their recommendations as there is almost no volume on the strikes they recommend.

Joe
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Joe
August 27, 2010 10:03 am
Advising readers to sell weekly options as a skew trade is incredibly irresponsible and indicates a lack of understanding of risk. A glaring example of this was a rec by Ophir Gottlieb: Buy 1 GS Sep 150p for $6.4, sell 2 GS Aug (weekly) 145p at $1.5, and buy 1 GS Aug (weekly) 140p for 18 cents. This rec was sent on a thursday afternoon, and advertised as a skew trade. In reality its merely a short gamma trade as Mr. Gottlieb found out. GS dropped $2 the following day, causing the position to lose $3 per spread, at which… Read more »
Jon
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Jon
September 16, 2010 6:51 am
The recs by this service are complete garbage. Here’s an example by “Dr.” Paul Price. We are selling naked calls on TSLA because it has never made a profit and is expected to continue losing big bucks until at least 2012 or 2013. Tesla Motors Inc. Sell to open TSLA 5 Dec 22.5 CALL (O:TSLA\10L18\22.5) at 1.45 Sell to open TSLA 5 Dec 24.0 CALL (O:TSLA\10L18\24.0) at 1.05 Sell to open TSLA 5 Dec 20.0 CALL (O:TSLA\10L18\20.0) at 2.55 Instead of coming up with a creative way to get a short position and limit risk, the “Dr.” is just taking… Read more »
Marie
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Marie
July 27, 2011 5:58 am

I’ve been using OptionsProfits.com for almost a year and I’ve made fine profits from following their recommendations.

They give good advice and always let you know when a recommended trade is being closed out.

That Waddell and Reed article that was criticized here turned ou to be a huge winner.

Mike
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Mike
September 28, 2011 12:37 pm

The service is basically a put selling strategy. If that’s what you’re looking for, then you’ve found your letter. If you do follow their advice, I would be careful about the amount of leverage employed.

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