Commentaires sur le livre de Daniel Mollat : Stock Options (En Anglais)

- Traiter les ETFs non leveraged et les indices principaux : SPY, QQQ, DIA, EEM, …
- Les vendeurs d'option gagnent plus facilement que les acheteur d'option grâce à la valeur temps
- Commencer par les naked put pour une stratégie simple
- Continuer avec les back spread ratio :
    1. Vente n puts OTM
    2. Laisse la position gagner (période à risque)
    3. Acheter n/2 put avec un strike supérieur (couverture de la position)
- Lors d'une perte latente qui atteint le seuil de tolérance au risque, ROLLER la position (down pour un put et up pour un call)
- How much movement in the market should I wait for before making a trade?
Market conditions may
give you some indication of when to initiate a trade based on the market’s activity. I personally wait for a
 move of about 1.5% before I do a trade. But in an active market, I may wait for a movement of as much as 3%
to 5% before making a trade.

- In the selling process how far out-of-the-money should I go and how far away from expiration?
In my case, and this is purely my own choice, I
look at selling options at strike prices that are 6-7% away from the current underlying price in a
market that is not so volatile. But in an active market where stock prices are fluctuating fairway frequently, I
would sell options at strike prices as far as 12 - 18 % away from the current underlying stock price.

- What do you do if the underlying goes against your short position before you can leg in with the long
Position?
Unless your position is at risk of going ITM you should do nothing. Use the roll out feature if you
need to.

Do you get out of winning short positions?
When? Yes and no. I always try to carry the shorts to expiration
(assuming they are not in-the-money) and then close out the longs at that time if they are in-the-money. I also
close winning short positions when they have lost more than 80% of their value and there is still a few weeks
remaining prior to expiration