Hello Mr Wolfinger. Please call me Mark.
First of all, I got your book last week and it is great. So far I'm in chapter 6 and it's better than any other book about the subject. Most of the others
are either too vague in explaining options and other make it sound like you cannot lose money and promise too much. Thanks. I wrote this book to provide a true picture of what trading options can accomplish. And how to accomplish it.
I'll probably have a couple of questions when I'm done reading the book. I'll do the best I can to provide good replies.
In the meantime would you recommend a website service like Power Options, poweropt.com. They don't recommend what to buy or sell they just provide data which can be customized.
It is a bit pricey $60 per month. Just wondering if you heard about them and if they are good. They give a 15 day trial period.
1. I never heard of them.
But that doesn't coiunt for much. There are many people who sell
2. Agree that $60/month sounds high, but 'costly' is a relative term.
It's peanuts, if investing millions; but huge, when investing $10,000
3. I don't know what edge they claim their data provides, but if it's
predicting which options to buy or sell, I'd avoid them. (if their
software can predict which options to buy or sell - with consistent
accuracy - you can bet they would use their software to make millions
by trading. They would not be selling it to others.)
4. If they provide a list of options with high premiums - options which
appear to be excellent covered call candidates, I'd stay away also.
Options with high premiums are options on volatile stocks - and that
means high risk for covered call writers.
Bottom line - I doubt they can help you, but I (obviously) cannot be
Mark D. Wolfinger
The Rookie's Guide to Options:
The Beginner's Handbook of Trading Equity Options