...and on the other hand, I use Netpicks and I'm doing fine. In response to some of these points:
1) Sure you get losses - if you're not prepared for these, don't trade options.
2) I've always traded at the same prices, buy and sell, that they've advertised, sometimes better.
3) I use Pacific for a brokerage on options - they did real well during the high volume days, and are real economical (read cheap) - $1.75 per contract, $15 minimum.
4) I paper-traded for the two-week trial and I'm not seeing any difference in reality.
You sound like you don't like the risk involved - sure when you get a 500+ point drop out of the blue you can lose money - with options, you can lose money anytime, but I've already made back my losses for this period. The 200% gainer on Friday for a 2-day investment didn't hurt. Up AND down can be fast! Note that Netpicks wrote-off the outstanding options and called October a no-bill month - we, in reality, have been playing them out and are getting a few bucks back.
It sounds like you've never really used them, just come to an intellectual rejection. Let's hear from more people, like me, that have real experience,
Graham |
