Originally Posted by
dalad
Come on, I have been trading options for 20 years! Give me a break!!! I know what I hold. No tax implications since it was done in an IRA. I have done option strangles and spreads and sold naked puts, so please don't try to educate me on how to trade calls and puts. My DC plan went up 109% last year doing covered calls and other option strategies. Now maybe you can educate me on contango and backwardation and negative roll yield as it relates to the futures markets. I trade futures too, care to educate me on that?
Hey dalad,
I like reading about your trades, and also from guys who do options since I never have, but am thinking about it.
Please don't go ballistic when someone takes the time to write a bit of knowledge re options trading... YOU may know all about it, but there are a lot of us who DON'T. In fact, I generally enjoy reading your posts and orvil's and columbia's, because I learn things. Columbia's post was enjoyable to me, and I'm sure others also, specifically because he took the time to write out how an option trade goes. It's not an insult to you that he did so, he just isn't assuming anything about you. In my case he'd be right! After reading your post, the way you worded it, I was specifically asking myself, "he doesn't actually own the shares, I wonder what the net profit would really be?" and here comes Columbia to answer me.
I'm looking forward to hearing how your trade ends up going for you, please post! Anyways, don't chill the option-education buzz, man!
