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Re: [listmg] Trading Options

From: Steven B.
Sent on: Sunday, March 24, 2013 11:54 AM
Sorry to disappoint
Sent from my Verizon Wireless BlackBerry

From: James De Franco <[address removed]>
Sender: [address removed]
Date: Sun, 24 Mar[masked]:52:36 -0400
To: <[address removed]>
ReplyTo: [address removed]
Subject: Re: [listmg] Trading Options

I'm surprised you didn't answer me in a large and bold font.
 
In a message dated 3/24/2013 8:44:16 A.M. Eastern Daylight Time, [address removed] writes:
No thanks

Sent from my iPad

On Mar 24, 2013, at 8:33 AM, James De Franco <[address removed]> wrote:

Steve. How about volunteering to take the minutes at Thursday night's meeting?.
 
In a message dated 3/23/[masked]:12:04 A.M. Eastern Daylight Time, [address removed] writes:

From the Greenwich CT VV Users Group:

……………………………………………………………………………..

“…we reviewed the guidelines (see the attached  file) for the Systematic Covered Writer trading system a few of us are now using. It has been almost a year since Stan introduced us to the Systematic Covered Writer and he was kind enough to share his results (via email) of positions he has closed over this time frame. The results were quite consistent and very impressive. Don reports that he started using the system about one month after Stan and has had very similar results for his closed positions to date. We are looking forward to seeing Stan at our April 13th meeting for a further update on this system. If any are interested in learning more, please go to www.syscw.com.”

 

 

 

SYSCW BASIC GUIDELINES

www.syscw.com

 

 

Initial Positions

·       15/15 Rule

·       ITM calls 4 to 6 months out

·       Start with 100 shares (small positions/heavily diversified)

·       Up to 10% in Short-Term positions – 5/25 Rule

 

Options

·       Prefer $1 increments in strikes below $50, $2.50 above

·       Will do $2.50 below $50, $5 above if have LEAPS

·       Generally requires 40% plus Implied Volatility

 

Stock Selection

·       Prices between $12 and $65

·       RV>1.00; GPE>1.00 on most

·       Reasonable spreads/volume

 

Rolling

·       Primary Rule – Always take net cash out when rolling

·       Roll out – get target bid when possible to assure 15% annual return

·       Consider rolling down and in if stock drops by over 20%, but roll to a strike price above current stock price

 

Interim Positions

·       Strike price below Initial Position strike

·       DO NOT WANT EXERCISED

·       Roll when Time Value drops below $0.30

·       Roll up and out when possible, with eye on return

·       If no good returns are available for rolling, do Combo Buy Back and Roll Out – doubling down

 

 





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Meetup, POB 4668 #37895 NY NY USA 10163 | [address removed]




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Please Note: If you hit "REPLY", your message will be sent to everyone on this mailing list ([address removed])
This message was sent by James De Franco ([address removed]) from Long Island Stock Traders Meetup Group.
To learn more about James De Franco, visit his/her member profile
Set my mailing list to email me As they are sent | In one daily email | Don't send me mailing list messages

Meetup, POB 4668 #37895 NY NY USA 10163 | [address removed]




--
Please Note: If you hit "REPLY", your message will be sent to everyone on this mailing list ([address removed])
This message was sent by Steven Bogart ([address removed]) from Long Island Stock Traders Meetup Group.
To learn more about Steven Bogart, visit his/her member profile
Set my mailing list to email me As they are sent | In one daily email | Don't send me mailing list messages

Meetup, POB 4668 #37895 NY NY USA 10163 | [address removed]




--
Please Note: If you hit "REPLY", your message will be sent to everyone on this mailing list ([address removed])
This message was sent by James De Franco ([address removed]) from Long Island Stock Traders Meetup Group.
To learn more about James De Franco, visit his/her member profile
Set my mailing list to email me As they are sent | In one daily email | Don't send me mailing list messages

Meetup, POB 4668 #37895 NY NY USA 10163 | [address removed]

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