By: Steve Smith
You probably know by now that I have been around the market all of my life.
My father was a broker-dealer, and I started working as a runner for him during the summer when I was 12 years old.
I wasn’t deeply involved in the precise trades he made.
But as I got older and took more of an interest in the business, I got a general idea about his strategy and what kinds of positions he took.
For example, in 1980-’81, when Volker jacked the Federal Funds rate up to 20%, my father was taking very aggressive positions in interest rate instruments.
Again, I don’t know the specifics. I just remember him talking about it.
Also, options were just starting to trade in a big way and my pops was a premium selling machine!
Very few people wanted to sell options and lots of people wanted to buy…
And my dad accommodated the buyers on a large scale.
For about 15 years the strategy worked brilliantly. He made loads of money between ‘75 and ‘90.
However, what I didn’t understand then – and what I do understand now is that he was taking on massive risk.
I found that out the hard way on my first trade.
You’ve likely heard me talk about it before – I sold 10 out contracts on UAL and collected $1000.
The next day, when the contracts were set to expire, a merger was called off – UAL stock plunged and I lost $50,000 overnight.
I will give my old man this, he was proven to be right even though he was a maniac. Still, his plays were too risky for my blood.
That’s why we take a very methodical, hedged approach to trading in Options360. Yes, it might seem boring sometimes, but we have beat the pants off the S&P 500 every year since we launched…
And that translates into reliable wealth building at a “light speed” pace.
To Your Success,
P.S. You can try Options360 for just $19. You get hundreds of hours of archived training, a new LIVE training session every other week, all of my recommendations, and direct access to my via email.
All for $19. I can do that because I know once you get a taste of the service, you’ll stay forever!