Learn how to make money trading Options – Options Trading for Beginners – Best Vertical Spread Strategies – Selling Vertical Spreads as a home business
Is income from Options Trading Vertical Spreads fact or fantasy? My sense and research suggest the answer should be – “Fact.” But there is a LOT OF PAIN one must go through to get there. This blog is my trek to find that answer. And this blog will be my weekly journal in trading Vertical Spreads Options to get beyond the fantasy. I invite you to walk it with me…
Options Trading Explained
Learn to Trade Options Vertical Spreads
Below are my weekly/monthly (as of 02/01/2022) Journal Posts as I teach myself how to make money selling (trading) Vertical Spread options weekly…
Budget, Goals, and New Rules for 2023 Vertical Spreads
Budget for Vertical Options Spreads – With a little prestidigitation, this month’s journal entry intends to redefine my goals, mission statement, and budget for 2023. I also have new Entry/Exit rules – Zimzalabim!
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Hunt for Red November
Economically, we are a Socialistically Regulated Capitalistic Economy – and we have been since the 1800s. And every two years, the legal voters of this country can trim how far the social-economic pendulum swings. This November, I expect the pendulum to swing red.
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Selling Vertical Spreads – The Kenny Rogers Strategy
Know when to hold ’em, know when to fold ’em – and never count your money before the trade is done. I need to read the room and focus on a market condition that will have the best chance of winning. I should only hold (open) Vertical Bull Put Credit Spreads when the cards on the table are in my favor. Here are some cues that I should look for:
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Vertical Spread Assignments – The Good The Bad and the Ugly
At what point do I need to sell an ITM Spread early for a loss or just let the Option be assigned? This month’s Trade Journal will revisit the Good, the Bad, and the Ugly of Options Assignments and what role they should play in my Vertical Spread strategy.
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Antsy Trade Trudging
The US economy is being swept into a recession. But instead of continuing to pile out of the markets, it appears that fear-fatigue has set in as Marketeers seem antsy to get back in the fray. So, this week is Antsy Trade Trudging.
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Ragnarok – The Progressive Economy
The Progressive movement is primarily about ushering in a socialist economy. This has been a movement for many years, and the COVID crisis gave the movement the bold opening it needed. Has the Progressive movement unleashed an economic Ragnarok?
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Help Wanted: Unifier-in-Chief
The Politics of Division has put our country in a bleak, dark, and scary funk. Where is Reagan’s “shining city on a hill?” What happened to Obama’s “There are no Red States, no Blue States, just the United States?” We desperately need a national Unifier-in-Chief for 2024.
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Beware the “Bull Trap”
In my longing to see a sustained market rebound, I have to be careful not to confuse the beginning of a new bull market with a bull trap.
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Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
Excessive greed, impatience, and naïveté are the bane of all Marketeers. When we take on excessive and misguided risk, we eventually get slaughtered. It is the mission of every Marketeer to understand when to use the appropriate Option strategies.
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Vertical Spreads Entry Rules – Matrix Table
In this week’s Journal Entry, I plan to create a consolidated matrix for my Vertical Spread’s Entry Rules. I want one easy table for Bull Put Credit Spreads, Bear Call Credit Spreads, and Iron Condors. Then I plan to take – the “blue pill.”
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Hello!
I am brand new to options and your blog. Congrats on your 2021 ROI -your considerable premiums are a testament to your diligence and hard work! I found you as I search for a viable journaling solution for my trades.
I found your great article: https://optionstradesbydamocles.com/2021/05/21/custom-options-watchlist-using-thinkorswim-in-excel-pt-1/
Are you still using this system? I was wondering if I could get your ideas on journaling and my journey? Thanks,
Thank you for your kind words!
I use my custom Watchlist every day. I use it to stage up possible trades for the week, monitor my staged Spreads to see which ones are moving in the right direction and monitor the performance of my open Spreads.
My three posts:
https://optionstradesbydamocles.com/2021/01/19/using-excel-with-thinkorswim/
https://optionstradesbydamocles.com/2021/05/21/custom-options-watchlist-using-thinkorswim-in-excel-pt-1/
https://optionstradesbydamocles.com/2021/05/28/custom-options-watchlist-using-thinkorswim-in-excel-pt-2/
These three posts are my cut-and-paste documentation to recreate my Watchlist from scratch should I ever lose them. Using this as a guide, you can create your own Watchlist tailored to your needs.
Hi Damocles,
I appreciate your content. As a newbie to trading and options I’m trying to soak it all up.
Do you happen to have information on setting up conditional orders for vertical spreads? I’m trying to play it safe and not “blow up” my account. I enjoy learning about options and it seems as if verticals are the safer bet. I work 9-5 and can never watch the market in action so as I analyze charts in the off hours and see a set up unfolding I want to place orders to get in if X happens. I’ve tried this 2ce now and it has not worked as anticipated. Any advice is appreciated! Thanks.
Greetings, thank you for your message and for reading my blog.
I have a 3-part post called “TRADING SPREADS WITH STOP LOSS.” Part 3 goes through ThinkorSwim screenshots for setting up Conditional Order for Vertical Spreads.
https://optionstradesbydamocles.com/2020/07/17/trading-spreads-with-stop-loss-pt-3/
My advice is to be careful using conditional orders. I lost more winning trades due to the “gap down” market phenomenon. As a newb myself, my blog has a lot of information on crafting “loss resistant” spreads.
Thanks
Superb blog! Do you have any recommendations for aspiring writers? I’m planning to start my own website soon but I’m a little lost on everything. Would you recommend starting with a free platform like WordPress or go for a paid option? There are so many choices out there that I’m totally confused .. Any suggestions? Thanks!