As of 12/05/2024
  Indus: 44,766 -248.33 -0.6%  
  Trans: 16,976 -190.93 -1.1%  
  Utils: 1,047 +2.22 +0.2%  
  Nasdaq: 19,700 -34.86 -0.2%  
  S&P 500: 6,075 -11.38 -0.2%  
YTD
 +18.8%  
 +6.8%  
 +18.8%  
 +31.2%  
 +27.4%  
  Targets    Overview: 12/02/2024  
  Down arrow44,000 or 46,000 by 12/15/2024
  Down arrow17,025 or 18,000 by 12/15/2024
  Down arrow1,025 or 1,100 by 12/15/2024
  Up arrow20,000 or 18,500 by 12/15/2024
  Up arrow6,200 or 5,900 by 12/15/2024
As of 12/05/2024
  Indus: 44,766 -248.33 -0.6%  
  Trans: 16,976 -190.93 -1.1%  
  Utils: 1,047 +2.22 +0.2%  
  Nasdaq: 19,700 -34.86 -0.2%  
  S&P 500: 6,075 -11.38 -0.2%  
YTD
 +18.8%  
 +6.8%  
 +18.8%  
 +31.2%  
 +27.4%  
  Targets    Overview: 12/02/2024  
  Down arrow44,000 or 46,000 by 12/15/2024
  Down arrow17,025 or 18,000 by 12/15/2024
  Down arrow1,025 or 1,100 by 12/15/2024
  Up arrow20,000 or 18,500 by 12/15/2024
  Up arrow6,200 or 5,900 by 12/15/2024

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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