Recent content by aeromir

be careful with OTM long options as you're fighting time decay. A good rule of thumb is the delta is approximately the probability the option will expire in the money. You can subtract that percentage from 100% to get the probability it will expire worthless. I had a friend who thought Google...

I worked for Dan Sheridan for 6-1/2 years and built his website and was one of Dan's students in 2006. Things have changed a LOT since then. Premiums are much lower than they used to be. My own opinion is everyone is selling strategies that sell premium. Simple supply and demand. Too many people...

Charles Cottle's book is great. OptionParty is right. Paper trade first. When you do start trading live, trade very small until you are profitable. As Dan Sheridan used to say, if you can't trade a $5,000 account, what makes you think you can trade a $50,000 account?

I've used IB for over ten years. I NEVER use their web site to trade with. I use Trader Workstation (TWS). It's very powerful but takes a little getting use to. The trade navigator is interesting but not a substitute for OptionVue for the analysis piece. IB's execution is excellent and...

Most butterfly trades have a very flat T+0 line (today) and take time for theta to kick in. I'm wonder how you day trade them....

As Tim said, be careful. There are a lot of scammers out there. Most of my option trading friends are working a lot harder to make less than they did a few years ago due to the very low volatility. Make sure you see broker statements that are current. If a site stops publishing results, it...

The problem with option back testing is the sheer number of strikes and expiration months for a data provider. I purchased a few thousand dollars of option data several years ago and built a simple tool for my needs, but it was not easy to use or keep updated. A friend of mine started Quanty...

The CBOE has some basic courses: http://www.cboe.com/learncenter/courses.aspx There are many free webcasts at cboe.com. The basic courses are affordable and cover the introduction to options pretty well.

hi from Europe I've read threads on t2w in the past but never had an account. I finally thought it was time. I've been trading for years. I used to work at Sheridan Mentoring (I built their web site) but I left last fall to be more independent. I'm primarily a non-directional option trader but...