Zeev's Turnips Patch-No Politics (ZEEV)

[Hard 10]

Hi Zeev
I really don't want to appear a ankle biter but you keep saying something that just bugs me because it ain't true, its that saying that 80% of options expire worthless. Today you wrote.
How can you buy options with the clear knowledge that the deck is stacked againt you 8 time out of 10?
The number is really between 30 and 40% but the 80% number comes from novices who don't have the money or the knowledge to play the options game right so they buy an at the money or out of the money option and subsquently get their clock cleaned.
IMO a better way of putting it would to say that options are a depreciating asset and we all know what to do with them "sell'em"
Here is the start of an article on the subject that appeared in stocks and commodities magazine a couple of years ago. Its written bt Lawrence McMillan auther of "Options as a Stategic Investment" its pretty much the bible as far as option traders are concerned

http://store.traders.com/v19160howman.html

Hope you and yours have the best of holidays
Perry