YnotGT3

My question is how do you sleep at night? I like short term calls and I agree on volatility this year

Modena 1

He is not selling calls. He is selling puts. Selling otm puts not a bad strategy as vol can easily collapse but it doesn't mean revert with the same speed that it can explode to the upside. He is getting long vol, getting short vol of vol.

At least that is what I would guess.

Otherwise the classic strategy of just selling calls (selling vol and vol of vol) is profitable until it's not as you point out.

COBRA MAN OF UT

Wayne carini. LOL don't belive everything you watch on tvp

usctrojanGT3

The way I look at it is the money that I'm trading is at-risk capital. I do employ stops when I sell nakes puts and calls. I also used straddles and strangles.

usctrojanGT3

Yeah, I'll also sell some calls as a hedge or if I get pushed going long into VXX then I sell covered calls as the shares have decay (I don't want to hold them them beyond a short term basis). Options were created to generally benefit the option writers, not the buyers of those options. As my friend says I'm out in traffic trying to collect change with the risk of getting run over. But it's about accumulating enough cushion from the wins to be able to absorb some losses along the way.

mooty

thus i own zero equity or fixed income trades, let alone commodities and other derivatives

man, ballsy. but it's easier just play cards at vegas

Tacet-Conundrum

I was referring to selling the car in Scottsdale in reference to citing Barrett Jackson( it's difficult to express sarcasm in the forums ) I know Barrett Jackson isn't the Auction for this car just as much as any Mecum Auction as well.

I agree with Eduardo in all regards.

I don't believe anything I see on TV except "ancient astronaut theorist"!

Wayne has had good luck with auctioning Porsches and Amelia Island. And I will agree you might find two, or more, bidders in Carmel, or Scottsdale that would end up with a greater price than Amelia Island's auctions.

pissedpuppy

honestly - I love the diversity of this thread. BTW, am I the only one that can't stand Carini???

cavlino

I was going to ask what was the original point of this thread.

But the variety of posts have been very interesting so I will just keep reading instead

Speeds5

I kind of like him. Not that I know him personally but from the show he comes off as a down to earth and honest guy.

YnotGT3

You're 100% correct I was thinking naked calls as reading about naked puts. Someone made a ton over the past 5 years !!

usctrojanGT3

It's definitely been nice side income and I've been able to easily outperform the S&P returns in the past 5 years. That being said, I have taken big daily losses when I was stopped out a few times taking 5 figure losses in a day (Greek crisis, Japanese quake, etc). The strategy is to squirrel away as much as possible premium over the months so that it more than covers the losses. The more I trade the more I learn and the more I realize how much more there is to learn.

Tacet-Conundrum

That's what I find so funny about markets and financial instruments, which are created for the people creating them(!), can be influenced by A Natural Disaster. I can understand the Greek financial "Crisis". Oh No - its a Crisis and it's financial... then investor's freak out, a week later the markets have fully rebounded. Investor's sure can act like chicken's with their head's chopped off!

I have a question, what happened in August 2013 - that's the month Hagerty Insurance shows the collector car market really start going through the roof, well April - August, going through the roof, literally(?)! But the Ferrari market was rising slowly for the previous five years or so; 2013 the scene just exploded.

Speeds5

1963 356 Carrera 2 Coupe just sold for $580k.

usctrojanGT3

So when is the auction for the Frog?