Hi Donnell,
Pat is a stock guy. While he will trade options from time to time, he really loves stocks. While I will trade options, directionally, I am not doing that in this market environment. Presently, I am selling short verticals on pullback days (which we don't see a lot right now). I don't know your level of expertise with options so I'll just say that my options trading is extremely conservative in this grinding, yet choppy, market environment. When the opportunity arises (SPY pullback to the 21ema, as an example) I will be a seller of PUT verticals (going out about 25 days). When the market decides to shake off some of this current indecisiveness (which may require a minor correction) then I'll look for opportunities to go long via Calls or Call verticals. I find it very difficult to Swing Trade using directional options.
I hope that helps a little!
Owen
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Thanks alot I’ve been trading options for about a year now, personally I love it . I’ve been in the program about a week and seen the best profits ever so far. AMD, then GS and now NUE…. I won’t stop trading options I’ll have to adjust my style to fit what being offered. No need to say I’m excited as hell to be here!!!
Excellent! I’m passing along your very kind words to Pat. Thanks!