Crazy ayzo 7 Report post Posted November 2, 2018 I had a pretty amazing outcome to a terrifying week. One way to learn the value of non-directional trades is to try the opposite. All's well that ends well, but I almost had wear adult diapers on Wednesday. I made about $24K, but selling naked puts nearly gave me a heart attack. Share this post Link to post Share on other sites
Kim 7,513 Report post Posted November 3, 2018 Put selling is a good strategy, but position sizing is the key. Just don't sell too many contracts. Here is some further reading: Selling Naked Put Options Selling Puts: The Good, The Bad And The Ugly How To Blow Up Your Account The Spectacular Fall Of LJM Preservation And Growth Karen SuperTrader: Myth Or Reality? 1 Crazy ayzo reacted to this Share this post Link to post Share on other sites
gowthamn 10 Report post Posted November 4, 2018 On 11/2/2018 at 4:36 PM, Crazy ayzo said: I had a pretty amazing outcome to a terrifying week. One way to learn the value of non-directional trades is to try the opposite. All's well that ends well, but I almost had wear adult diapers on Wednesday. I made about $24K, but selling naked puts nearly gave me a heart attack. How did you decide the direction to take? Share this post Link to post Share on other sites
Crazy ayzo 7 Report post Posted November 4, 2018 @gowtham, On the QQQs, I kept hearing in the market news the market is going to be volatile at least through the election. I expected it to oscillate, so I took the straddles. On opening the trade, I planned to sell both legs at a profit. I should have stuck to my original strategy a little longer. On netflix, I bought 500 shares at about the same time. I sold a straddle. My logic was that I wouldn't mind buying more NFLX at that price, or getting called out at the higher. My June 19 '20 FB put was bought on the same day I bought 100 shares as downside protection on a long position, not an options gamble. Sold it when I thought the market was down enough. I bought the FB Nov 2 puts thinking I'd either be happy to own more FB at that price, or get paid the Put price. AMZN Nov 2 put was the same logic as FB. AMZN Nov 16 strangle seemed like a no brainer that the following days would bring more volatility after such a big drop. I also bought puts on VXX mid last week that are doing nicely but still open. Share this post Link to post Share on other sites
