Humble

Broker B2 doesn't know that you hold 100 shares with another broker, so he will see the calls as naked. Assuming you have permissions to sell naked calls, he will also require fairly large margin for naked calls position. And if you are assigned, you will be short 100 shares in broker B2 account. Why complicate things? There are more than enough brokers today that trade stocks and options.

@FrankTheTankYou are absolutely right, and in fact, we now allocate half position to most calendars, to spread the risk. We also trade position larger than $1,000 for many hedged straddles if they don't fit into $1,000 allocation. But officially we still consider it 10%. SO Strategies and Allocation Guidelines offers some more insights.

If the underlying price and the trade price are still close to the trade alert pruces it is usually still a good trade. Otherwise you might consider to move the strikes if the underlying moved.

While theoretically this is true, there are many strategies where you can put the odds in your favor. You just need to know what you are doing.

While most members are from North America, we have a lot of members from Europe, especially Germany, Spain, Great Britain, Netherlands, Italy and more. So i'm sure there is a lot of interest.

Steady Condors trades verticals, not calendars, so all options are the same month and covered.

While others lost their retirement. To me trading this stock is no better than going to Vegas.

@clipsnation183This is obviously very unpleasant and expensive experience, but hopefully it will have some positive side if you can learn from it. And this is exactly why the first advice I give all traders is about position sizing. You think it is just a cliche - till you experience it first hand. I believe those lessons make us better traders, but I know at this point it's hard to see it this way. Your key points are very good, very few traders would be mature enough to come to those conclusions instead of blaming someone else on their mistake. The best advice I can give you at this point: don't try to "make it back". By doing this you will start taking more risk, which might lead to more losses. Just continue to do what works for you, and the recover will come.

It definitely could be a good strategy, but the key is position sizing. In other words, don't write more puts than the amount of stock you are willing to own. More reading: Selling Naked Put Options The Naked Put, A Low-Risk Strategy

It depends on the stock, but usually few dozens of contracts shouldn't be an issue.

I would recommend reading the Welcome to Steady Condors post if you are really interested in the strategy. So no, it is definitely not worse than 3x leverage, and no, you definitely don't need to be glued to the computer.

This trade had a different setup than the current trade. Here is the P/L chart of the current trades: The maximum risk of the current trades is around 8-9k.

I just contacted Dan Raju. Tradier CEO and Chairman. Got a response within 11 minutes. Here is his response: The deal included IRA accounts too. We do offer Limited Margin IRA accounts. In those accounts, customers can trade option spreads of any type as long as they are covered. They cannot trade naked calls. IRA accounts can only be opened with level 2 options, but customers can complete 2 forms via DocuSign after the account is opened and we can upgrade the account to a Limited Margin IRA with level 3 options trading. For your reference, here are these DocuSign links: Options Limited Margin

Well, I know that some brokers don't allow any options selling (covered or uncovered) in cash accounts. Looks like Tradier does.

You need margin account.

I'm not an investment adviser and cannot give specific advice. You might want to contact Chris or Jesse for a consultation. The strategies are not correlated. SO and SC are non directional strategies. Anchor is correlated to S&P 500 and designed to provide protection against market decline. PV trades volatility products and TLT, so again, completely uncorrelated to other services.

This step is done in order to ensure the best service to our existing members. Our phenomenal success has resulted in a significant increase in demand for the service, and as such we will close the service to new members on Sep.15. Unlike many other service, 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 clients. To ensure this happens we have decided to close our service to new subscribers.

And this holy grain is all yours.. for only $2,997!!!!!!!!!!!!!! BUT HURRY, IT IS ONLY FOR THE FIRST 200 TRADERS!!!!!!!!!!!!!!!!!!

@SirionThanks, but I actually like that the topic contains some trading ideas as well. It shows potential members the depth of our discussions and the strength of our community.

Yes, you get Tradier for $40/month and 10% discount for ONE. Summary of SteadyOptions Discounted Offers

Buffet and Dimon were pushing to eliminate guidance, not the reports themselves.

Lets cross the bridge when we get there.. I don't see this happening any time soon. Too many people make a living out of those reports (analysts, hedge funds etc.) The lobby is too strong. In my personal opinion, it will reduce transparency, and I don't see SEC going forward with this. In any case, he suggests bi yearly reporting, so even if this happens, we will still have more than enough trades in our arsenal.

The idea of selling options based on the premises that "90% of options expire worthless, so lets sell them. Lets be the house" sounds compelling to new traders - until they have few big losses and start to realize that things are more complicated. After being burned countless times, tastytrade continue recommending selling options before earnings on high flying stocks. Just ask those who did it before last FB earnings - Lessons From Facebook Earnings Disaster. Try to repair this one after it lost 10 times all previous wins worth. So many people follow Tom Sosnoff because of his charisma - they simply don't realize how risky and dangerous his methods are.

Thank you for being a member and contributing to the community. Hope to see you back.

@Yowsterit is a very good point regarding closing early. For more details, I would suggest reading Why You Should Not Ignore Negative Gamma article.