written by reader OPTIONS CASH COW – Manny Backus

By prose, May 28, 2016

I just subscribed to this service about a week ago and now have a look into the profits and losses. i looked back a couple of months and they typically recommend $1 to $2.5 dollar wide credit spreads – either puts or calls – usually for about $.25 cents credit. First, if it is profitable it takes way too much margin (about 8-12 times the max profit) for the credit that you get. the major problem though is that in my quick overview it seems like about 1/2 of the trades are profitable and the losers are usually a full loss. This means that on average you might need about 5 winners to offset one loser. Maybe in the past they have had better profitability. I have a 30 day trial for $7

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shamrock96
4 years ago

Thanks for the insight, was just listening to a teaser video for this and am glad to head elsewhere

👍 3
leigh8
leigh8
3 years ago

Today’s Wall Street Journal has a lead article about Manny Backus and Wealthpire, which had to settle for defrauding subscribers and false advertisingl

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Bogdan
Bogdan
3 years ago

Hi, I have purchased a trial subscription, calculated the ‘gains’ of the system. It seems if you bought 10 contracts on each recommendation in 2016 alone you would loose $20 k + subscription costs. I unsubscribed on the same day

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