Calls and Puts for Income Message Board

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Strategies & Market Trends : Calls and Puts for Income

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To: dealmakr who wrote (5656)	1/27/2013 8:30:51 AM
From: Robohogs	Read Replies (2) of 5891

Interestingly this latest few months looks to me a bit like the November to mid-March timeframe of last year. It looks a bit extended already but who knows how long it can go. I do remember getting clobbered in late March and April last year as I was very large to take advantage of minting money in October To early March. I am much more cautious already. Of course, ex one big mistake, this late December and January were by far my largest ever. Even with the mistake, results are fairly healthy and towards the high-end of past performance. That is enough to set off my antenna at this point. It may sound weird, but even more than usual, I am sticking to my guns about getting at least 1% premium per month outstanding of the puts that I write. And I will not relax my conditions on at least 10% cushions down to the strike. That means generally that I am getting into only the riskiest situations, but at least you're getting paid for the risk in those situations. I am getting newsletters with 1% premiums for two months. Or even three months. If something goes wrong, there is no way to mitigate potential losses. Jon

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