As of 12/04/2020
  Indus: 30,218 +248.74 +0.8%  
  Trans: 12,742 +155.26 +1.2%  
  Utils: 856 -10.76 -1.2%  
  Nasdaq: 12,464 +87.05 +0.7%  
  S&P 500: 3,699 +32.40 +0.9%  
YTD
 +5.9%  
 +16.9%  
-2.6%  
 +38.9%  
 +14.5%  
  Targets    Overview: 11/30/2020  
  Up arrow30,700 or 28,250 by 12/15/2020
  Up arrow13,500 or 11,700 by 12/15/2020
  Down arrow830 or 925 by 12/15/2020
  Up arrow12,500 or 11,400 by 12/15/2020
  Up arrow3,750 or 3,400 by 12/15/2020
CPI (updated daily): Arrows on 11/2/20
As of 12/04/2020
  Indus: 30,218 +248.74 +0.8%  
  Trans: 12,742 +155.26 +1.2%  
  Utils: 856 -10.76 -1.2%  
  Nasdaq: 12,464 +87.05 +0.7%  
  S&P 500: 3,699 +32.40 +0.9%  
YTD
 +5.9%  
 +16.9%  
-2.6%  
 +38.9%  
 +14.5%  
  Targets    Overview: 11/30/2020  
  Up arrow30,700 or 28,250 by 12/15/2020
  Up arrow13,500 or 11,700 by 12/15/2020
  Down arrow830 or 925 by 12/15/2020
  Up arrow12,500 or 11,400 by 12/15/2020
  Up arrow3,750 or 3,400 by 12/15/2020
CPI (updated daily): Arrows on 11/2/20

Bulkowski's Option Trading Tips

 

I was reading an Active Trader magazine interview (December 2008) of Bill Greenwalt, manager of the Aspen Private Capital fund, by David Bukey and I wanted to share some of his option tips.

Greenwalt studied economics at UCLA and then started selling real estate in 1972. He founded a company that bought and managed apartment buildings. Then in 1992, he co-founded Mortgage Technology Inc, which is a mortgage brokerage, that he ran until 2006.

In the mid 90s, he began trading covered calls and eventually helped run Rainmaker Partners, which was an options program that opened in mid 2001. The Rainmaker fund ran into trouble after 9/11 when the fund sold option strangles, out of the money puts and calls on the S&P 500. In a calm market, you can clean up, but lose money if the market trends strongly in one direction (because the short options are uncovered). His head trader made a wrong call in July 2002, sending the fund down 20%. He shut down the fund and reevaluated, then started trading again in December 2002.

 

Option Trading Tips: from Greenwalt

-- Thomas Bulkowski

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See Also

 

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My novels:  Bumper's Story Head's Law

Chart Patterns: After the Buy Getting Started in Chart Patterns, Second Edition Trading Basics Fundamental Analysis and Position Trading Swing and Day Trading Visual Guide to Chart Patterns Encyclopedia of Candlestick Charts Encyclopedia of Chart Patterns 2nd Edition Trading Classic Chart Patterns

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