Profits taken on the first investment in the short-term insane returns naked put-writing portfolio
I see that late yesterday my order to buy back 150 JCP May 10-strike contracts was filled at the exchange minimum of $1 per conract. Net cost of $155. They had been sold for $15 each on April 3. Profits for the five weeks held amounted to $2,005 on a cash deposit at Ameritrace of $17,550.
The nominal return for five weeks came fo 11.4% or about 2.3% per WEEK. Now THAT is what I would call an insane return.
05/07/2013 15:18:45 Bought 150 JCP May 18 2013 10.0 Put @ 0.01 -152.55
Before BIDU fell 10%, it gained 10%. My get-in price was $84.85 - BEFORE the round-trip. And now that the stock has receovered all of the lost ground and more, I am up by 19% in six weeks from inception on my "crazy options positions." Nobody can match the kind of returns that I have year-after year in non-crashing markets. I'm convinced that in such markets, I'm the very best that there is in the nation. That's the magnitude of my Eureka moment that I had 21 months ago.
Alan J. Daniels
Options consultant and options genius without peer
Sorry if I'm not as modest as you might like but I do have the actual results to back me up.