Preston, one question on the money press... at the end of the "insurance:" period... do you have to do anything? Eg. Sell the insurance? Or are you only selling the weekly put options?
You rarely get assigned, but if you do by chance, we just sell the stock, then sell the next week’s put to keep the Money Press working! You really don’t skip a beat.
I know this is a little late, but if you are buying a 4 to 5 week out PUT at the exact same strike level as you are selling a weekly PUT, you won't be assigned. The further dated buy will cancel out the closer sell. Your broker should just refund you the difference between the two. Since the futher out will always be more valuable than the closer on that you sell, you should always make money.
Still don’t understand selecting the right strike prices and exactly what is “aggressive” vs “conservative”. Yes on MSFT you mentioned you were selling an aggressive weekly but you didn’t explain why and how you use small vs larger spreads.
Really great feedback Michael! Thank you for taking the time to send this comment over. Our Money Press Method Guidebook is just to introduce investors to our approach and strategy. A lot of people aren’t familiar with options so we want people to have an opportunity to explore what we do. We also offer a free trial to our WOW Insider Membership where you can see an entire library of training videos, further explanation on the topic, join Preston on a weekly webinar, see what he’s trading (when, why) etc., etc. and I think will address some of your comments. Hopefully you check it out!
Preston, one question on the money press... at the end of the "insurance:" period... do you have to do anything? Eg. Sell the insurance? Or are you only selling the weekly put options?
Good overview of theta decay
thats what i do mostly on volitile stocks but some times my orders don get filled you have anytips for making sure an order gets filled?
What happens if the weekly gets assigned in the first week only?
You rarely get assigned, but if you do by chance, we just sell the stock, then sell the next week’s put to keep the Money Press working! You really don’t skip a beat.
I know this is a little late, but if you are buying a 4 to 5 week out PUT at the exact same strike level as you are selling a weekly PUT, you won't be assigned. The further dated buy will cancel out the closer sell. Your broker should just refund you the difference between the two. Since the futher out will always be more valuable than the closer on that you sell, you should always make money.
Now they have Daily options on SPY and QQQ! Every day of the week!
Still don’t understand selecting the right strike prices and exactly what is “aggressive” vs “conservative”. Yes on MSFT you mentioned you were selling an aggressive weekly but you didn’t explain why and how you use small vs larger spreads.
Really great feedback Michael! Thank you for taking the time to send this comment over. Our Money Press Method Guidebook is just to introduce investors to our approach and strategy. A lot of people aren’t familiar with options so we want people to have an opportunity to explore what we do. We also offer a free trial to our WOW Insider Membership where you can see an entire library of training videos, further explanation on the topic, join Preston on a weekly webinar, see what he’s trading (when, why) etc., etc. and I think will address some of your comments. Hopefully you check it out!
So he sells option trading. Unless he’s a hedgie how does HE time the market.