Option Investor
Updates

SHORT STRADDLE UPDATE

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I GTFO OF MY STRADDLEMorning Troops,

When the market came down this morning, I took the opportunity to close my one contract SPX February short straddle for $51.00.

I had taken in $56.00, so I locked in a $500 profit in a little over two trading days.

I may choose to put on another one at another level later. But, I like taking these little profits. With the market as volatile as it has been, there's no predicting direction or distance.

If you are holding this position, there's nothing wrong with staying in it a little longer. The market is coming down -- back towards the short 1375 strike price. You'll likely have a number of opportunities to lock in more than the $500 I took in.

I will continue to follow this position in the newsletter because many of you may have the position and are more patient than I was this morning.

BY THE WAY . . .


I know there are many trial subscribers out there who may not have the experience or background to fully understand what we're doing here at the Couch Potato Trader. What we do is not for beginners. It's important to have a solid foundation of knowledge of options and how they work to take full advantage of my column.

Some folks see our track record and are drawn in (justifiably so) to give us a try. There are other folks who are completely new to options. I'm sure you know a few.

I have recently agreed with OptionInvestor to teach a two-day introductory options course. We're calling it "Up To Speed." It will start from the basics and go through all the information you would need to comprehend options, what they are, how they work individually and together.

After the two days of education, you'll be able to appreciate, and take advantage of, all the newsletters offered on the OptionInvestor site. The first of the "Up To Speed" seminars will be presented in Chicago on Saturday & Sunday, April 12th & 13th.

Here is the link to a page that goes into more detail about the "Up To Speed" seminar: https://www.optioninvestor.com/account/sm08landing.aspx?

Some of you may be interested in a review -- or know some people who are envying your results from our Couch Potato Trader, but they're intimidated by option trading. This is a great way for them to get "Up To Speed."

As you know, this stuff isn't rocket science. However, it's important for new option traders to have this fundamental knowledge -- or they can kiss their money goodbye.

So, come join me for a couple days of enlightenment and fun. It's a great way to begin one's option education and an experience you'll remember for a long time.

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Please Note
Don't confuse this with my CPTI 2-day Advanced Seminar. In the "Up To Speed" seminar, we will be covering the basics and discussing the strategies a new option trader should know.

My 2-day Advanced Seminar starts where the "Up To Speed" seminar leaves off. Those who attend my advanced seminar are there to learn and fine tune their trading skills. It's for those who want to explore more advanced trading strategies further in depth.

Take care and I hope to meet many new friends in the "Up To Speed" seminars.



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