Put Strategy Report

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Tampat
Guest
Tampat
February 7, 2009 2:18 pm

Put Strategy Report, Stansberry Research

This service is primarily selling options.
I was aware of this service but never subscribed because I didnt want to sell naked options.

They sucked me in on this one with an email teaser talking about a company that was going to declare bankruptcy soon and they were purchasing put options. I signed up and the company they rec’ed, (Macerich), still has not gone bankrupt. I still own the puts but they are at a loss so far.
They claimed in their promo literature they couldnt get enough subscribers interested in selling options so they were going to start purchasing options, a main reason I signed up. That one rec was the only option buy, the rec’s went right back to being option sells.

So I think they put out misleading promo. I cancelled and received a timely refund.

If you want to sell naked options this may be a decent service, it just wasnt for me hence the low ratings.

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MarkHu
Guest
March 19, 2009 1:48 pm

I like this newsletter. Almost all the recommendations have worked out well, and it has opened my eyes to a new investment strategy. Using the concepts, I’ve written several options successfully as well. Sure its a pricey newsletter, but the advice and recommendations are not run-of-the-mill either.
I’m marking it down one star for consistency since a couple issues have deviated from the primary strategy.

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Rob L.
Rob L.
March 21, 2009 8:37 am

The proof is in the pudding on this one…the results have been excellent so far. I’m wary of how well this strategy (selling naked puts on stocks you would like to own anyway) will do in different market conditions, but since each write-up emphasizes that you’re only selling these puts ON STOCKS YOU WOULDN’T MIND OWNING ANYWAY, it appears likely that it will work well in all kinds of markets.

Bob S
Guest
Bob S
March 25, 2009 7:41 pm

I, too, took the bait on the teaser and then backed out after 30 days for a refund. The only recommendation I tried was to BUY a put (nearly everything else was to sell puts), and I stopped out for a 50% loss. Porter’s instinct was right about Macerich – his timing was off, and once I became pretty convinced the market was going to keep the stock price high – too many people were shorting it, I bailed. Boy was I wrong. Had I held on to the puts, (I bought the March $15 puts wheras he recommended the $10) I’d have made a bundle. I suspect most of his subscribers stopped out of that trade too – he had told subscribers to get out if the $10 put dropped below $1 which it did for a while. But it did well by expiration DESPITE Porter’s stop loss strategy. Brave (or asleep?)souls would have done just fine.

My biggest complaint was that it was IMPOSSIBLE to get an answer to any questions. The newsletter had said that one could short the stock if one didn’t want to buy a put. That was not true – there were no shares available to short at the time through any broker I contacted. That’s what I really wanted to do. When I tried to get Stansberry to either explain the discrepancy or send out a correction, their customer service was very uncooperative – they always hide behind the lame “we can’t give investment advice” except if you want to buy or cancel a subscription, or can’t access their website.

Anyway – I also thought the subscription much too expensive as well – no reason to continue with it.

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Larry G..
Guest
Larry G..
March 26, 2009 2:10 am

I dutifully paid the $625 on Dec 11,2008, bot the Put for Macerich as he advised–never hear a word from him for about 2 months. I wrote an email to his customer service asking why I had not received any communication–got no reply. After another 5 days, I wrote to him thru his “feedback research.com” website thru the S & A. Digest. Here is what I wrote: After a wait of about 5 days without a reply from your Customer Service Dept, I am attempting to reach you directly thru your Digest address. My letter explained it all: “Your obvious inattention to the plight of of your subscribers who put their faith (and money) into your hands without even the courtesy of a reply or refund as promised. Let your response to my accusations try to dispel any suspicions of neglect towards your duties. It appears your flowing rhetoric is in stark contrast to your perceived omniscience. Prove me wrong by sending me a refund. I dare you! Also, I dare you to print this in your Digest. I am still a subscriber to your 12% letter and S & A Oil Report.”
The only response I received was in his “Mailbag”–he said,”you don’t have to “dare” us to print your letter, The angrier it is, the more likely we’ll find it entertaining”.
The conclusion to this tale of woe is they said my credit card was invalid–which was untrue and therefore I was not a valid subcriber. Why then did they not try to contact me?
I lost $1500. of my $3000 investment as I sold it the morning that the put expired. I read in his Digest recently that he had gotten only 6 subscribers to his Put Strategy Report. It is a miracle that he got even 6 & they probably had a tough time getting a refund if they tried. Porter is quite eloquent with his rhetoric (a windbag), but his timing & stock picking is lacking—his customer service? Forget about that!

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LG
Member
LG
May 26, 2009 10:13 am

I subscribed to his “Put Strategy” report and received two reports and then nothing since. The teaser that I responded to was a $1,000 rebate check to be mailed on May 11. Not bothering to email to find out why (assuming that he did not get enough subscribers and just cancelled it). My credit card was not charged for the service reinforcing my thoughts that he was not getting the amount of subscribers he wanted. Truthfully I am so sick and tired of all the hypsters and teasers that I just want to unsubscribe from everything and put my money in muni bonds.

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JJ
Guest
JJ
July 25, 2009 10:43 am

I subscribed to the Put Strategy Report about 5 weeks ago and I love it. The newsletter is very straightforward and easy to understand. The 2 recommendations (both put sells) I have followed so far are both up over 50% and I may simply buy them back rather than wait until the end of the year for them to expire worthless. These 2 trades have more than paid for my subscription.

I should point out the fact that I am not a novice at trading options and that I have not automatically followed all of Porter’s advice. I have used my own judgement along with Porter’s ideas. I give it 2 thumbs up!

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Ted M.
Guest
Ted M.
September 27, 2009 6:16 am

I’ve been subscribing for about 8-9 months. I’ve lost money on 2 trades, made money on all the rest, with a net gain overall in excess of the subscription fee for the newsletter. It’s also educated me on how to make options trades on other stocks, which I never would have done without the newsletter.

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JPL
Guest
JPL
September 27, 2009 12:18 pm

Hi, Ted M.,
Glad to know you’re doing well with the PUT Strategy report.
Would you share your success in more details? I like to know how much better I could be doing, and subscribe to the report if advantageous, as my account is very small.
I’ve been selling some puts on my own, my very first time, since Feb, this year. I started my account with $10,000 Cdn which is the minimum amount my broker will accept. Now it’s about $12,800 net. Canada allows only 50% margin.
In total, I opened 7 trades, 3 expired worthless, 3 are still doing fine and the last one which is UNG Jan 2011, $28 is underwater by about $600. I’m pleased with the performance even though it’s definitely nothing “to brag about”. Somewhere I read that 12 winners out of 12 are to be expected for this kind of strategy.
How did yours make out? If you don’t feel comfortable providing dollar amounts, would you use percentages ? For example, say 90% are winning trades, on average each trade got X% return. Of course, when talking about return, what % margin are you using ?
Thanks in advance for you consideration.
JPL
9-27-2009

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Bob
Guest
Bob
September 28, 2009 4:02 pm

JPL wrote: “Somewhere I read that 12 winners out of 12 are to be expected for this kind of strategy.”

That would only be true for far out of the money puts, where the premiums are tiny. The downside with those trades is that a single failure can create losses that wipe out 20 wins.

Porter recommends selling puts that are out of the money but not far out of the money, so there is a greater probability of being put to the stock, but the premiums are bigger.

Porter had some easy wins earlier in the year, when there were lots of absurdly cheap stocks, but picking good short put plays is trickier now.

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JPL
Guest
JPL
September 28, 2009 9:43 pm

Hi, Bob,
Thanks for your clarification about the high win ratio. Now I won’t feel too badly about losing one or two put trades. Slightly out of the money is what I’m now doing.
Take care,
JPL
9-28-2009

Bill