「選擇權賣方交易總覽」一書作者二天前破產

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Can't believe. This guy's been doing options for 20 years since 1999. He's a regular contributor on Marketwatch telling people why options on crude has never failed investors. And he's a regular contributor to CNN, Wall Street Journal, CNBC, etc. And he has published his book year after year "Complete Guide to Option Selling" on sale on amazon.ca. How can he not know the potentially unlimited risk of naked short options??!!!

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He basically went all-in, fully leveraged on a naked short call on CL futures and got into a "short squeeze" due to a rogue wave and it was apparently so intense so fast that it wiped their entire fund and got margin-called by their broker so now not only he lost every single penny of all of 290 of his clients, his clients now even owe money to the broker of hedge fund.

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It is not about big brains. It is about arrogance. Stay humble no matter how good you are. Arrogance can kill you financially.

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半杯水 發表於 2018-11-18 20:00
Extremely well said.

我相信他一定認為，會出現那種幾乎不可能出現的走勢機率只有 0.000001%，所以重押 ...

謝謝半杯水提示。

所有成功的賣方，都不會出書。書書必是必死的前兆。

但很多不出書的賣方基金，也倒了。

所以，賣方只要做的跟說的不一樣，十年內炸毀的機率很高。

sec2100

半杯水 發表於 2018-11-19 11:02
https://www.youtube.com/watch?v=WTFBmGA2kjE

原始檔案應該是被拉掉了，不過有個長期留意他的人，做了個 ...

原連結拿掉了。

以下是關於天然氣期貨的緊急狀況報導:

https://www.ft.com/content/589157d8-e8ea-11e8-885c-e64da4c0f981

sec2100

http://www.optiontradinglaw.com/

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半杯水 發表於 2018-11-19 11:02
https://www.youtube.com/watch?v=WTFBmGA2kjE

原始檔案應該是被拉掉了，不過有個長期留意他的人，做了個 ...

半杯水，謝謝關注。

賣方很不適合幫別人代操，十個有九個掛掉。

sec2100

That shouldn't be puzzling to most traders. Everyone has experience of doing that.

Letting losses run is a deeply ingrained natural human tendency and most of us will be susceptible to it even after 30 years of trading.

Our only hope is making risk management a core part of every trade. So we don't fall victim to to this trap.

But if you have a very high win rate and large losses are very rare, you are going to eventually feel you don't need worry about risk management so much.

Personally i trade a system with a win rate of around 35 to 40%. The importance of risk management is obvious when you have such a low win rate and long losing streaks, it is harder to become complacent about it.
資料來源: elitetrader.com

sec2100

They probably, have been selling naked calls for years and figured that they have it in the bag! However, the risk profile for selling naked calls is the risk is unlimited to the upside! When, there is a big run up, now you have to cover quick because the losses keep piling on! If the calls are thinly traded, you are at the mercy of the call sellers who can jack the call option prices sky high knowing you have to pay to exit! And if you are stuck in deer in headlights mode and paralyzed in fear, you now double, triple your losses because you cannot pull the trigger to get out with the huge losses!

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Sorry for your losses. I had suspicions Optionsellers.com did not tell investors the whole story. Selling naked calls is very risky as a trading strategy and losses to the upside is unlimited! Any options book will tell you that. They certainly, did not do enough to mitigate any possible losses to themselves and their clients, that is for sure!

https://www.elitetrader.com/et/t ... watch.327091/page-6