Has anyone signed up or received any reviews of this service promoted by Marc Lichtenfeld of Oxford Club which focuses on 3:45 pm option trades on the VIX? It was supposedly launched last September and pitches algorithm selected VIX call or put trades at 3:45 pm for next day profits of 30 to 100+ percent gains and a 75% win record since September.
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I signed up for this service in January. I expected there to be trade recommendations not everyday but at least a couple times a week. Well, so far there have been only 5 trade alerts through March 17. Of these trades only 1 was a winner and, of course, I missed out on it. They guarantee 20 50% winners but don’t tell you have many losers you’ll have. I’ve only been in 2 trades and I played the options- one was a 46% loss and the other was 100%. It was 100% because by the time I got the sell alert I was at an 85% loss. At that point I was willing to risk the rest in hopes of a reversal. Not living up to the hype so far!!!
I called their customer service line to get some additional information because their promo seemed very interesting. After 10 minutes on hold and being told I was the next in line, I gave up and hung up. Called another day and got someone on the phone and asked….The service claims a 75% win rate…OK…then what is the average loss in percentage terms on the remaining 25%. On that they had no answer and told me to email that request to their service line. Did that and now 2 weeks later I haven’t received a reply. This Closing Bell Profits may be a good one …don’t know…but…when you start out with an organization and they appear to have no interest in your potential business….well that’s a flashing red light
Short 09/30 -4.92%
Short 10/31 +6.96%
Short 11/07 +5.18%
Short 11/22 +3.81%
Short 12/02 +8.65%
Short 12/31 +8.85%
Long 01/31 -4.12%
Short 02/05 +1.25%
Short 02/18 +3.034%
Short 02/21 -61.33%
Long 03/05 +5.86%
I was afraid of this. Picking up pennies in front of a steam-roller. Further confirmation is it won’t trade the current volatile market because it is not designed to. Might as well just sell put or call options, same net effect in the end and not a waste of what the VIX offers.
I subscribed to Closing Bell Profits in early February for $2,500. The performance of this service has been pathetic to say the least. Here are the trade results from mid-February to date (August 21, 2020) using closing prices since the system is to place the trade in the last 15 minutes of the trading day:
2/18/2020 SELL VXX Close $13.76
2/19/2020 BUY to Cover VXX Close $13.56
RESULT – WIN 1.45%
2/21/2020 SELL VXX Close $14.90
2/26/2020 BUY to Cover VXX Close $18.93
RESULT – LOSS 27.05%
3/5/2020 BUY VXX Close $26.68
3/6/2020 SELL VXX Close $29.82
RESULT – WIN 11.77%
3/27/2020 BUY VXX Close $49.66
3/30/2020 SELL VXX Close $49.28
RESULT – LOSS 0.77%
4/1/2020 BUY VXX Close $50.51
4/2/2020 SELL VXX Close $47.90
RESULT – LOSS 5.77%
4/8/2020 BUY VXX Close $42.54
4/9/2020 SELL VXX Close $41.85
RESULT – LOSS 1.62%
4/16/2020 BUY VXX Close $40.89
4/17/2020 SELL VXX Close $38.94
RESULT – LOSS 4.77%
4/20/2020 SELL VXX Close $42.84
4/22/2020 BUY VXX Close $44.19
RESULT – LOSS 3.15%
4/30/2020 SELL VXX Close $37.89
5/1/2020 BUY VXX Close $41.19
RESULT – LOSS 8.71%
5/15/2020 SELL VXX Close $36.60
5/18/2020 BUY VXX Close $34.24
RESULT – WIN 6.45%
5/29/2020 SELL VXX Close $33.13
6/1/2020 BUY VXX Close $33.42
RESULT – LOSS 0.88%
6/16/2020 SELL VXX Close $36.87
6/17/2020 BUY VXX Close $36.98
RESULT – LOSS 0.30%
6/24/2020 SELL VXX Close $36.72
6/25/2020 BUY VXX Close $35.39
RESULT – WIN 3.62%
6/30/2020 SELL VXX Close $33.95
7/1/2020 BUY VXX Close $32.89
RESULT – WIN 3.12%
7/31/2020 SELL VXX Close $28.52
8/3/2020 BUY VXX Close $28.46
RESULT – WIN 0.21%
8/12/2020 SELL VXX Close $25.53
8/13/2020 BUY VXX Close $25.51
RESULT – LOSS 0.08%
8/18/2020 SELL VXX Close $24.33
8/19/2020 BUY VXX Close $24.77
RESULT – LOSS 1.81%
WINS: 7
LOSSES: 10
AVERAGE WIN: $1.17 / share
AVERAGE LOSS: $1.52 / share
Keep in mind that trading the recommended options will normally magnify the loss (or turn what would have been a small win into a medium size loss).