Receive Trading Alerts in Real-Time!
As an OptionsMeister Gold member, you simply log into Skype each day on your computer or cell phone for access to John and other members.
We post trades immediately after being filled in the OptionsMeister Private Skype Group and the OptionsMeister Trades Only Group.
You will see an actual screenshot of a new trade, an exit,` or a trade adjustment in real-time.
Receiving an actual screenshot of the trade from the trading platform helps you eliminate potential entry errors. For example, in this actual screenshot, you see that a new trade entry in Home Depot filled at 10:50 am. The credit received was $175.00 for each one contract lot. The expiration date is May 20, with 57 days to expiration.
The trade was “sell to open” (STO) the 310 put and “buy to open” (BTO) the 305 put, creating a put credit spread (also known as a “bull put” credit spread).
The screenshot below is a trade exit. In this screenshot, you can clearly see that both the 110 put and 150 call were “buy to close” (BTC).
A typical trade adjustment, depending on the number of legs in the position, will show one or more options being STC or BTC and a like number of options BTO or STO. In this adjustment, the trader is selling to close the April 8 365 put and buying to close the April 8 377.5 put while simultaneously selling to open (STO) the April 14 377.5 put and buying to open (BTO) the April 14 365 put. Effectively rolling out the trade for one more week. By rolling this trade for a credit or zero, the trader has extended the duration of the trade without taking on any additional risk.
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