 Re: Any options traders here?
For me, options not so good deal. High premium at initial price, and it expires worthless? Make sure to never ever write naked calls, I've seen people lose 50,000 dollars in a blink of an eye, literally within 10 minutes. It happened when fed chairman Alan Greenspan back in the day, unexpectedly announced a rate cut in the 1990s, during option expiration. There was a fellow that wrote naked calls everytime at the end of expiration, sounds simple right? Write the contract, collect the premium wait for it to expire and pocket the money, then boom! Rate cut! Stocks go flying, u need to cover your shorts at high prices, you're f*cked, 50,000 dollars poof, in 10 minutes.
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