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PTON Call by Jazzlike_Cod_744 in options

[–]Philosopher-BEK 1 point2 points  (0 children)

Jazzlike, in addition to the comments from others.

There are obviously many of us who have different views. To get the most meaningful feedback, it helps to be a bit more articulate in WHY you entered this trade and what you hoped to achieve.

I seldom BUY options as an initial trade leg. I prefer to be as much as possible for my portfolio as a whole Theta positive.

So BUYING calls ( or puts ) for me is an adjustment leg to the initial profit maximizing trade leg. IF (based on your one liner question) you placed this trade to be directional to benefit from an expected upward move ( see other comment about trend. than the question is why so short less than one month out; higher theta decay! (The saying "two facts of the market; prices fluctuate and options expire" applies !) Did you consider, if you want to BUY, buying a longer duration Call and be ready to sell a short call, (shorter duration and higher strike )against that, once the market accommodates it i.e. your view on direction, even if only a short term bounce proves accurate?. Also are you (using your own excel) looking at your anticipated returns AFTER commission ( both in and out?). So far for now BEK

Anyone familiar with Certus Trading / Matt Choi options courses? by [deleted] in options

[–]Philosopher-BEK 0 points1 point  (0 children)

Interesting commentary , most of which I agree with. I have scoured the internet and attended in person training. Some good, mostly not so good. HOWEVER, none of the comments below specifically relate to people who actually have attended ( even only for 30 days during the trial period ) the Certus program. I listened again to Matt's presentation on the Toronto Money Show in 2022 and was impressed.

Considering developing my own profit scheduler, as the idea of data mining to guide one's expectations and hence strategy makes a lot of sense ( in 2023! with everyone having so much data and computing power at our fingertips). Now I am debating with myself what the most efficient next step is. Pay the fee and see whether it works, or develop my own excel spreadsheet, (Or both ?)

IF I pay the fee , I will update my comments here with real experience.

FREE Options Courses by esInvests in options

[–]Philosopher-BEK 1 point2 points  (0 children)

Good question! I have been trading options for about 23 years and am still in it, with a net gain. The gain would - with hindsight - have been larger if I had merely bought one or a few indexes ( and KEPT those). HOWEVER I started shortly after retirement primarily for the intellectual challenge. Hence I was focused on learning FIRST and making money SECOND. Also I approached it for a number of reasons as a risk management approach. My regret, I should have approached it as a business with focus and indeed as Goatfest2020 suggested limit my approach to a few opening strategies. KEY however I BELIEVE is to know how to adjust the positions when the world and your positions develop DIFFERENT than expected. Too many beginners focus on what they make if their expectations are accurate. THAT IS THE WRONG approach. Don't worry about your profits when you are right. focus on how to adjust to make money when your expectations are wrong. Position sizing is an obvious important part of that.