Smart Options Income

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crown2001
Member
crown2001
October 2, 2018 5:05 pm

I recently signed up for a trial of Smart Options Income with Jon Lewis which utilizes Bull and Bear Credit Spreads to try to generate income. Jon has 20+ years experience trading options; unfortunately, it seems he still hasn’t figured out how to make consistent profits. Since Smart Options Income was started back in March 2017, he has placed 165 trades with 108 wins and 57 losses. That is a winning percentage of 65% which is much lower than his target win ratio of 80%. His average win is 21.6% and average loss is -47.5% which gives an average loss of -2.2% plus trading fees. If you used 5% of your portfolio for each trade, your account would be down %18.5. It looks like Jon is just another failed option trader who makes his living by losing other people’s money.

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Rob
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Rob
January 22, 2019 11:12 pm
Reply to  crown2001

I joined this SOI service for one quarter after the trial and also lost money on Jon’s trades, mainly because he does not roll under any circumstances and he closes a losing position at his set loss (I believe twice the premium you took in), even if news or otherwise might indicate it will reverse in your favor, etc. He is disciplined, and maybe he just had a bad year in 2018, I think the October bearishness took many by surprise, but I did not auto-renew.

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