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ALTAF JUMMA wrote:
>
> WALT, RTrs
> Thanks for all your posts - they have been highly educative
> 1) Option Pro: .........
> 3) ODDS: I got the Don Fishback booklet from Tradewins- basically it talks
> about calculating the odds of an option being in the money/out of the money.............
Ashif,
I am far from being a sophisticated options trader, but I am glad if
some of my posts on practical options trading, without having the B&S
model stapled to your forehead, helped out. :)
At this point, I usually use the basic stuff offered in TS 4.0 for
calcualations and charting, although I usually trade options
based on what I think the underlying futures will do, and on what the
futures volatility will do, with option buying strategies based on the
current volatility of option premium in relation to historical premium
volatility. Mostly, I trade volatility straddles, naked option purchases
against low premium volatility, or vertical spreads agains High
volatility premium.
the only time I sell options is in relation to a vertical spread, or
when I am looking to collect a little bit of premium on top of a
futures contract or option that is already profitable. So until I
decide to be a bit more sophisticated, I don't need the higher level
of analytical ability offered in the better options software packages.
I have heard good things about Option Pro, but have never used it.
Opportunities in Options, just came out with an interesting options
software package that sells for about $695. It looked pretty decent.
You can download data from their service, or import CSI data.
Anyone out there tried out this software yet?
Ignore everything else OIO tries to sell you. Almost everything they
offer can be found for free on the Internet.
I liked Caplan's "Options Advantage", but we part ways on his theories
concerning "delta-neutral" strangles. I feel they are too dangerous.
Although, perhaps it would be better to say that I do not feel that
I am adequately versed in their complexities, so I avoid trading
them. :)
Fishback claims some amazing results, but again I have to wonder if
we aren't talking "DN" strangles. That is the only strategy I have
ever seen that can produce the winning percentages claimed........
right up until the time that one "mega-move" wipes out your entire
portfolio.
Anything past these "meat and potato" opinions on options, and
I will have to defer to guys like "The Doctor", BobR, and Zaheer Bhyat.
Comparing my knowledge of options to these guys, is like comparing
Aspirin to LSD. :)
Walt
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