Tonto and Janice Teach Investing Message Board

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Microcap & Penny Stocks : Tonto and Janice Teach Investing

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To: Janice Shell who wrote (154)	3/29/1999 11:23:00 AM
From: Sam	Read Replies (2) of 302

"Let's face it: the BEST way to make money in options is to do naked writes. As long as you don't make an Awful Mistake..." I've known perhaps a dozen people who work at the CBOE and who made a fortune doing naked writes, over a period of years. Then they made their Awful Mistake, and lost it all plus some in just a few days, weeks, sometimes a month or two. The Awful Mistake is nearly impossible to avoid over a period of years, especially in this kind of market. Mainly because often they aren't even "mistakes", except in the sense that the market went against you. The market "shouldn't" have gone against you, Mr. Market was outlandish, but then, so it is. As someone, I think Henry, has said, Mr. Market can remain "irrational" far longer than you can stay solvent.

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