Great article so far, I am still reading. One small quibble. It is very challenging for a retail or self-directed trader to get approval to sell naked options. Absent an institutional résumé, track record, or outsize capital in excess of $1 million it is nigh impossible.
The first painful lesson in options:
Being right on direction is not enough.
You can be right on price,
wrong on volatility,
wrong on timing,
wrong on path,
and still lose money beautifully.
Options don’t reward opinions.
They reward structure.
Grateful for your guidance on option trading! Still learning.
Great article so far, I am still reading. One small quibble. It is very challenging for a retail or self-directed trader to get approval to sell naked options. Absent an institutional résumé, track record, or outsize capital in excess of $1 million it is nigh impossible.
Thank you, very useful!