Tuesday, December 27, 2011
Recommended Book: Selling Put Options My Way
I finished reading Selling Put Options My Way by Jerry Lee. The author has had great success with a simple trading formula. Basically, he uses his margin maintenance to sell puts on solid stocks 20% below there present price. He only sells near month strikes so the stock would have to collapse for him to lose. If one were to follow his criteria it is credible that one could make 2-3% per month. Yes, you read that correctly. There are other criteria and he sets forth exit strategies. I've been doing this a long time so new insights are harder and harder to come by. I did find this book to be interesting and I've stirred it's contents into the soup that is my trading strategy. Happy New Year, Chester
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Hi Chester,
ReplyDeletethank you for your review
what are the exit strategies?
and what he do when he's assigned?
Did you read
Stock Options: The Greatest Wealth Building Tool Ever Invented [Kindle Edition]
Daniel Mollat (Author), Steve Burns (Foreword)
http://www.amazon.com/Stock-Options-Greatest-Building-ebook/dp/B006FZWXNG/ref=pd_rhf_dp_p_t_3
?
thanks
arikzahb@gmail.com
Sounds like a great book options are something. I never really got into options. But I am interested in learning Its the allure of the whole thing that amazes me..
DeleteHi, the exit was to buy back the puts if the option premium doubled or it hit his strike price, whichever happened soonest. As such he's never assigned and he cuts his losses.
ReplyDeleteNo, I haven't read that one but I'll check it out on my Kindle :)
Happy New Year! Chester