People oftentimes steer away from options trading for fear that it’s too complicated, difficult to manage, and time consuming. But our latest Rising Star, Les, found it “easier than [he] expected it to be!”
Tune in to find out how this former engineer-turned-lawyer became a full time trader and uncover the three key things he looks at to signal a potential options trade. Plus, find out how he trained himself to become more mechanical, which ultimately improved his returns these past three years!
Watch more interviews with tastytrade Rising Stars here:
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Link do Vídeo
50% returns being delta neutral…gotta love options!
Trades responsively, 25 then shop with the rest.
What if there are no option buyer? Will this scenario happen in future?
If you're winning a lot and losing a lot, over and over….. That is consistency. Did he mean only consistent winning?
Wanna see this guy try to trade earnings these days sheesh 😒
Wow Tom took a breath between words today😂
What kinds of trades does he do in the afternoon and close the next day? Someone out there please explain that to me. Are there shorter duration option trades I’m not aware of?
It is a dry heat in my oven too…doesn't mean I want to live.
Most of the successful options traders on here seem to be doing well over 800-1000 trades a year and focusing on two or three underlying (SPX, SPY, etc…). How are they putting 4 trades day after day (some even say 10 a day) essentially the same underlying? Apparently with the same 30-45 DTE. Wouldn’t all the DTE and strikes start to pileup creating a concentration of risk around the 21 days to expiration? I’m really confused about the idea of 4-10 trades a day of just a few index options. Please help me understand
Awesome, i wish i could ask him, this: when you've been assing on naked put, immediatly you sold covered call. Itm or otm and what is your exit strategy with those shares and covered call?
Austin is not a dry heat, lol. It's 80%+ humidity minimum every day in the summer. They're thinking of Arizona.
@7:15… 900 trades a year… 3/day… is that counting adjustments (rolls, close, etc), or is that strictly new trades?
Hi, I love this video. Please tell me the watchlist criteria for IV crush around earnings. Thank you in advance
Did he say he takes all of his trades off the very next day? Open just before the end of the day and close the trade shortly after the open?
If you're position is in a loss at the 21 DTE, do you still close it out regardless? Or do you roll it? And if you roll it, do you do it at the 21 DTE or wait until it gets closer to expiration.
Can we get an update how this man did in March 2020? Did he blow up his account or no? I feel like everyone can make money in a bull market but how did he fare in bear market/black swan event?
this guy's great
Its pretty simple. Sell the straddle/strangle/iron condor at the near closing price of the stock just before earnings release and buy back the next morning, I started this last year and it returned 90% based on a 25k account. Do naked and you will make money 80% of the time and 20% will screw you 🙂
Where can I learn this strategy in detail?
Seems people they end up I interviewing are engineers. That’s pretty cool.
So at various points during the interview this gentleman says he exits in two different ways. Earlier in the interview he says he takes off trades the following morning. Later he says he exits at 50% or 21 days to expiration. Which is it? When do you know to do one or the other? It’s tempting to assume he lets those that aren’t net credits go, but he specifically says he eats or rolls losers the following day as well.
this is really interesting. but in order to sell a strangle requires you to have 100 shares of the stock in the first place (in Robinhood) which is not something you really want to do
Good job and thanks for sharing your story. I've definitely gotten a few lessons from you. Thanks again
My God, get this man a glass of water…the sticky mouth sounds are driving me nuts
05:38 is where thy actually start. The whole video is good. Tom Sosnoff needs to let the guest talk.
Hi…. In the interview he says that he uses the same strategy as tastytrade in earnings, does anyone know where I can see examples of tasytrade trades with earnings Strangles or Iron Condor ?
I started trading options in March and eventually moved to this exact strategy trough trial and error and have found great success! Have grown my account from under 2k to 22k in 2 months 🙂
Never heard of 109 in Austin tx lol
Can someone help me understand IV crush around earnings?
On the earnings strangles how far out is he selling? The 45 day range or the current expiration? Somewhere in between?
I agree that selling options are good income asset to generate cashflow due to theta decay and blablabla. But at a point of not having any other financial asset and doing thousand trades a year?!
I''m also engineer here, but the main objective for this labor is to create money independence isn't it? Is it worth it instead of just sitting on good companies stocks. I think money management is somewhere in between.
It is great interview where you guys teach trading I really want to join.thanks
900 to 1,000 trades a year sounds excessive to me….
They seem to be really enjoying talking to someone who knows what he's doing.
With all due respect, his story doesn’t add up. If he’s making close to 4 trades a day (i.e. ~ 1000 trades a year), closing every trade at max 50% profit as he stated, and has an overall return of 50% on his portfolio, it implies that he has almost no drawdown and no losing trade. An to top that, he has a perfect score of 50% returns for 3 consecutive years! By no means is this an attempt to belittle his success, however it begs the question if this sounds too good to be true.
Tony is looking crazy as usual!!! Haha. Great video guys.
Is that 50 % after tax, fees and commissions?
When placing these earnings trades, should we still be seeking to capture 1/3 the width of the strikes in premium, since they're such short term trades, usually just 1 day??
Great Risning Star guest. My question, who dislikes a video like this (for the 20 thumbs down)?