Humble

We usually aim for 50-60%, in some rare cases we might go as high as 80%. But we trade define risk strategies only, never naked.

They are correct actually.

They are too risky to my taste. One big loss will erase months of gains.

This is insane, but it doesn't surprise me. Tom Sosnoff was claiming all the time that the only way to make money in the stock market is to sell options, so he wouldn't change his way now. Options selling works most of the time - till it doesn't. And when it stops working, the losses can be devastating. Just ask Victor Niederhoffer, Karen Supertrader, James Cordier and many others. I challenged them several times with their so called "studies" that "proved" that buying premium doesn't work. But I guess they won't let the facts to confuse them.

If your wife is Canadian, why not IB?

No. Options trading is not about passive income. It's about generating profits in any market. If you want passive income, buy real estate or dividend generating stocks. And not, you cannot make triple digit gains with "not much time". Simply doesn't work this way. I know this is not what people want to hear, but that's the truth. P.S. There is no need to ask the same question in 5 different places.

Yes it does.

http://www.cboe.com/products/stock-index-options-spx-rut-msci-ftse/s-p-500-index-options/s-p-500-options-with-a-m-settlement-spx/spx-options-specs

Yes, it should be executed as one single combo order for a credit (as much as you can get).

@Manish71being theta negative is not necessarily a problem. Some of those trades simply bet on a certain pattern that involves stock movement. When you get it right, the trade can still be profitable despite negative theta. Exactly like our straddles or RICs.

We will notify all registered members.

Sure.. Happy Holidays!

Yes.

Our phenomenal success has resulted in a significant increase in demand for the service, and as such we closed the service to new members. Our performance is based on real fills. We put our money where our mouth is. We execute all trades that we share with members in our personal accounts. Those are live accounts trading real money. If you lose, we lose too. When you profit, we profit too. Our members know that we are committed to provide superior personal service. We personally respond to each email and each forum post. At certain number of members, we will not be able to do it. Also, as our client base grows, we feel that we are fast approaching a point where some of the options we trade do not offer enough liquidity for more subscribers to successfully enter the trades. We would like to continue to maintain this level of customer service and make sure there is enough liquidity for our existing members. To ensure this happens we have decided to close our service to new subscribers. We maintain a waiting list and offer spots as they become available.

We are trying to find the best setups at the best possible prices. Overpaying 5-7% on each trade will make a huge difference in the long term. In short term trading, it is even more important. Yes, if we knew that all trades will work and make 20-30%, then overpaying 5-7% makes no difference. But this is not the case. There are losers as well. And some winners are pretty small. Overpaying 5-7% means small winners turn into small losers, and moderate losers turn into bigger losers.

I don't, but you can definitely try. Looks like an interesting option.

Because I see members sharing their fills on the forum. I also try many times to fill few extra contracts after the alert just to check and 90% of the time I'm filled. Also on trades posted by @Yowster I'm in the same shoes as other members. Sometimes I'm filled before the alert based on discussion topic. Sometimes after. And yes in some cases you might have to wait a day or two. Just look at current FB trade as a good example. Some members chased it as high as 1.17, and the next day it was available below 1.10.

I'm often asked: if the price changed after the trade alert, what should I do? Should I enter at higher price or be patient and use limit orders? I decided to do a little exercise and check our latest trades. Out of 10 current open trades (some are half allocation), ALL of them could be entered at prices lower than the official alert price. Same is true for previous 10 closed trades. NO EXCEPTIONS. Sometimes it took few hours, sometimes you needed to wait for the next day. But eventually a limit order at price equal or lower than the official price would get filled. I think you get the answer. ALWAYS use limit orders. Never chase the price. If in some rare cases the stock moves and you are not filled, so be it. Better to miss a trade than overpay. Also debunks a myth that our performance cannot be replicated. Patience always pays off. And if not always, then 90% of the time.. On a related note, it is usually also possible to enter the trade before the official alert comes out, based on the information in the discussion topic.

Take a look: Butterfly Spread Strategy - The Basics 4 Low Risk Butterfly Trades For Any Market Environment Using Directional Butterfly Spread

It all depends how you manage the trades. CMLViz is an excellent tool, but it has its limitations. The main one is that it relies on EOD prices only.

Correct. The only practical consideration is liquidity - OTM options tend to be more liquid.

Yes it's the same if using the same strikes. Are Debit Spreads Better Than Credit Spreads?

You are doing absolutely the right thing. This is exactly how we recommend members to use the service.

The link to Tradier offer has a very extensive discussion.

As their name implies, they like to sell options not buy them. In his interview from couple years ago, James Cordier said: "Once I realized that 80% of them expire worthless I started selling commodity options instead of buying them."