Hello my friend,
I don't agree with you on two things. the first one is that the stock fell down almost 13% and most stocks don't go down that far even after earnings so I would take those odds any day as I did in the last 10 years of trading which made me rich just by selling options.
The position is losing right now but remember that we still have almost a month to go so I'm good and not worry at all.
If the stock during the next month will go up by only 3.1% to $20.63 I won't lose a dime, I just won't earn my premium and lose only commisions.
You can't win them all and this is why I'm only selling options for a living and winning most of my trades and not all my trades instead of buying options and losing most of them and winning few of them.
Second thing I don't agree with you is the time aspect.
Most if not all of the options are time decay at the fastest rate from 30-3 days before expiry and the premium is much higher around 30 days before and this is my goal, to catch as much premium as I can per trade and if the trade goes against me, I still have 3-4 weeks to have the stock correct itself in my favor.
Yes I am pricing these options according to B&S and less probablity of profits but I do use it as another tool before I place my trades.
I'm doing many trades every month during earning season so if I'm losing 10 trades and winning 50, I'm happy :)
Feel free to follow me on twitter as well to see all my trades posts live including iron condors that I like to do from time to time.
Twitter is @selling_options.
P.S
I'm not a tech guy so I'm just starting out with the investment world online but I hope I can help others become rich with my knowledge and trading exprience that helped me become rich in the past decade.
Ziv
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