13 replies to this topic

[4caster]

Sounds like scary stuff. A person I really admire helps me with the time decay issue.

His name is Jim Croce.

[12SPX]

I haven't bought options since the end of 1988.  I started buying them and worked on them for the year and even though I always had the direction of the market right I always ran out of time.  Not sure what the current level is but a while back 88% of all options expired worthless.  With the old cycle 3rd Friday of the month options still most dominant and now there are daily, weekly, monthly I'm sure its even higher now.  Anyhow, been a very profitable 35 years...

[4caster]

Yes, i know that Theta stuff can be really nasty, but it can be dealt with. For example, this morning

the SPY put in a double bottom at 416.93 giving a bottom signal.  I then bought the 6/01/23 419 Calls

at .95 and sold them at 1.65. And, yes I know the SPY is up pretty big today but this shows that the 

Theta stuff can be dealt with.

[4caster]

I really screwed up today. I got out way too early. That's what my wife says to me on a regular basis.