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

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.



This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inline Feedbacks
View all comments
4 years ago

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

👍 3
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

Add a Topic
Add a Topic
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

We use cookies on this site to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies.

More Info