SPDR S&P 500 (SPY)

[Dr Jerry]

the rule of thumb is 3:1
using stops or limits is a recipe for disaster
don't play short term options if you are unavailable to watch carefully
limit losses to 10 % of plays up to 5 k and live to play another day
option plays are purely statistics so winning streaks are short lived and usually followed by losing periods
for the last 13 years buying Apple options one month before earnings paid for my house 5 times over with 80% winners
Thats all about to change forever