Time To Revisit An “Old Friend”

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Some of you know my first trade, all those decades ago, was a disaster for me. I lost $50,000 overnight – and it was $50k I could…

ill afford to lose at the time.

Don’t get me wrong, I wouldn’t like it today either…

But, back then it was almost disastrous!

It was in 1989, and I sold naked puts on UAL. It was going to merge with Northwestern at around $200/share.

UAL had been trading around $190.

I sold puts that expired the next day at a $150 strike price.

I just had to wait out one day and I was $1000 richer when the puts expired.

Expiration day the merger was called off, the stock collapsed…

And I lost $50,000!!

I learned a lot from that single trade.

  1. NO naked trades
  2. There are no sure things
  3. Premium collection is great, as long as the trade is great
  4. NO naked trades (yes I said that twice!)

In this market trade structure is as important as finding great trades.

That’s why we use every option strategy in the books, rather than just one.

I invite you to come aboard and find out why we’re up 14% in a market that is down over 17%!

You can try it out for just $19.

Once you do, you’ll stay forever!