Parabolic Options

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R Thomas
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R Thomas
March 4, 2010 3:21 pm

Big Money Options Pro

I’ve been a subscriber since Sep 2009, and I like this service. This is the real deal. But it is NOT inexpensive. Figure on about 2 grand annually or $595 quarterly. A less costly version (simply called Big Money Option) with fewer trades costs about 1/2 what is shown. The non-Pro version would probably work better for newbies to options.

If you belong to BMO Pro, you also have total access to the less expensive version, so really the price, to me, for the Pro version is well worth it.

Nick Atkeson and Andrew Houghton run the show and their credentials seem noteworthy. They are NOT your typical newsletter hawkers, although they are sponsored by InvestorPlace which provides its usual glizty promo ads.

I have tried MANY of the major options services (16 to be exact), and never have I found one THIS useful(and profitable). Their teaser emails sound a little “fantastic”, but if you stick to their trade suggestions you WILL truly make outsized profits because of the way they set up many of their trades. BTW, because of the way they set up trades, rarely is your out-of-pocket cost anything close to buying individual calls and puts. They use lots of combo trades, which DOES keep the overall cost down.

Their hit ratio is as good as can be expected, and they provide at least 5 to 10 commented trades per week PLUS about 10 more possibilities each day, what they call Hot Shots. These extra trades (Hot Shots)show no entry/exit points and are for the more experienced trader.

BMO Pro’s general thesis is to follow unusual options activity, and they have been very successful in this regard.

MOST IMPORTANTLY, I have learned trade setups that I’ve seen nowhere else in my 5 years of trading options. Also, once a week there is a review with commentary about the market and each trade still open. Additionally, each morning there is also a commentary. Taking education even further, they have a free teleconference quarterly.

Any time you have questions, customer service answers promptly. Atkeson and Houghton will even give you their personal emails addys.

Not only do these guys find great trades, but they EXPLAIN WHY each is picked, adding to the education. They do totally explain each trade setup and exit (except the Hot Shots), and the reason for the exit is also insightful.

Due to the cost, this is NOT for everyone. However, this is the one service that I’ve found that TRULY PAYS FOR ITSELF MANY TIMES OVER. It has been a great learning experienced, even though I though I was fairly experienced.

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SnowCrash7
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SnowCrash7
March 20, 2010 8:09 am

The folks who shill for services like this are real disappointment to someone hoping for a fair and accurate review. I signed up for a trial subscription a year ago to these guys who were hawking incredible return numbers. I took one look at their open trades and record and immediately terminated the trial.

Their latest claims are that they averaged a 175% return per trade, including losses, and that 70 of their trades were money doublers. OK, maybe I was wrong, too hasty. Took another look. Incredible, 80% of their open positions (and several were leaps locking up your money for long periods of time) were underwater.

Its a shame that folks like this are allowed to get away with these incredibly misleading claims.

R Thomas
Guest
R Thomas
March 20, 2010 12:25 pm

Just a word to SnowCrash7. I’m NOT A SHILL, as you suggest. I’ve been a successful business owner and professional for years, and I also happen to really like to trade options.

I WANT TO MAKE THIS PERFECTLY CLEAR TO ANYONE WHO READS THESE REVIEWS: I do not know the BMO Pro people. I am not acquainted with them in any way. I am not associated with them (except as a subscriber), and I make money from their suggestions as well as from research I also do.

BMO Pro is just 1 of several ways I find trades. Since their approach works with my style of trading, and because they have proven successful for me, I have not unsubscribed. If that changes, I’ll also write about it here.

BTW, I’ve seen no LEAPS trades whatsoever at BMO Pro since I subscribed in Sep 2009.

To make money with any options service you have to UNDERSTAND MORE about options than what the service suggests. To be successful a trader must have (IMHO) a high level of charting skills, and they should also have a solid understanding of trader psychology, indicators, timing, market cycles, investor sentiment, funds flows, world events, government events, fundamentals . . . and so much more.

First you look at the service’s suggestions THEN you do your own research. Taking this approach using BMO Pro’s suggestions has worked better for me than with any other service.

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Wayne
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Wayne
March 22, 2010 5:05 pm

First of all, I’m not a subscriber but am considering it.
Like many, I suspect, I wonder if one trust ANY review on ANY product/service. Many reviewers are hired/paid – which may well compromise their objectivity.
So – who’s the “shill” here… SNOW? Thomas? Neither?

One thing I note in Thomas’ two reviews is the following: In his first review, he says “…but if you stick to their trade suggestions you WILL truly make outsized profits because of the way they set up many of their trades.”

This “stick to” statement suggests anyone – experienced or not, researcher or not – will do quite well just blindly following recommendations. However, in his second review, he says “…To be successful a trader must have (IMHO) a high level of charting skills, and they should also have a solid understanding of trader psychology, indicators, timing, market cycles, investor sentiment, funds flows, world events, government events, fundamentals . . . and so much more.
First you look at the service’s suggestions THEN you do your own research”.

How contradictory is that?!…..from the lemming as a successful investor following the service recomendations – to a virtual expert in all things financial!
Which is it?

I’m leary – but then I tend to be cautious in most all things…especially those that sound too good to be true.

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Kim
Member
Kim
March 27, 2010 3:19 pm

R Thomas,

I keep getting ads from those guys, with advertised profits of “…1,100% gains in 15 days, …1,200% gains in 7 days, …2,300% gains in 10 days.”

Can you give an example of one of those trades? How do they calculate the profits?

Kim
Member
Kim
May 11, 2010 9:22 am

I subscribed to the less costly version (Big Money Option) and checked how they calculate the results.

When you analyze the largest profit claim – 2,300%, you find out that it’s actually VZ April 29 Call-April 28 Put risk reversal. You buy a long call and “finance” it by selling a short put. In this case, the position was purchased for $0.03 per spread and sold for $0.72 per spread for a profit of $0.69 per spread.

Now, based on 2,300% profit calculation, you would think that if you invested $10,000 in this position you would grow your money to $240,000, right? Wrong!!! This calculation completely ignores the margin requirement for the short put of about 20% of the underlying stock value – in our case, about $600. With $10,000, you could buy about 16 spreads, and your profit would be $1,104 (16 spreads * $69 per spread). That’s 11% return on $10,000 investment.

Other trades are no different. The average return of those risk reversals is around 10% (if they are winners). Nothing close to hundreds or thousands percent returns that they are claiming.

In general, when someone GUARANTEES to double your money every month or something like this, you don’t even have to subscribe. You can tell right away that it is a complete SCAM.

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Kurt
Guest
Kurt
October 8, 2010 11:30 pm

I love how other reviewers who admit that they did not try the service or subscribed to see past picks and unsubscribed without seeing how picks developed or are thinking about the service feel they can rate the service.

I will take that lead and say that I subscribe to the regular version of Big Money Options (not pro) and am happy with the performance. I read a review from optionsstore.com and it seemed like a fair take on the service and others like optionmonster. I will also take the lead and rate this service even though I have the non pro version.

They have a webinar every week which is helpful.

I don’t find snowcrash7 credible since this review is supposed to be for Pro and he writes that he tried it a year ago (his review written March 2010) and this service wasn’t around until September of 2009.

Why would Wayne feel compelled to give a poor review of the service when he admits that he is thinking about subscribing which means he hasn’t used the service.

Kim, why copy and paste the same thing for the Pro and the regular version when you admit you only did the regular. I can only get it on the long side with no spreads. I can tell you that there was a money doubler in September 2010 that took a couple of weeks and a 60% gain in one day.

What counts is that I am happy with the service and it works for me.

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Kim
Member
Kim
October 10, 2010 10:56 am

Kurt, let me ask you a simple question. When they record a 2,300% profit in risk reversal, were you able to put $10,000 in this position and grow your money to $240,000? When they record 500% gain, were you able to grow $10,000 to $60,000?
Were you able to double your money every month like they GUARANTEE in their ads and website?

If the answer is no, then their track record means nothing. It is misleading and dishonest.

sandy
Guest
sandy
March 25, 2011 8:38 pm

I am not the subscriber but I too get the news letters , which are very lucarative. But one thing I noticed is that these Wall Street people never show you the list of the previous recommendations they did and how much they lost or gain !!!!
As a novice if you have to pay them and do the research own ur own then why shld you pay and make them millionare for that kind of unne