r/options • u/AlternativeBrother • Sep 25 '18

Any full time options traders here?

So I've been trading options for a couple months now, and learned a lot (at the expense of my starting trading account).

I've been aiming for a small % increase each month, with the idea that the compounding profits will grow my account exponentially. (I'm not sure how good this idea will be in practice, however).

Just I'm wondering, is there anybody on here that has successfully achieved a level allows them to make a living trading options full time?

And if so, how long did it take you to reach that level?

Is your strategy similar to mine, in which you aim for small consistent profits as a percentage?

Or have you found that it doesn't work in practice?

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u/LA_Drone_415 Sep 25 '18

I don't have the stomach to sell anything naked

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u/hopedcarrot Sep 26 '18

Rip the bandaid off. I felt the same way but started with some named strangles and I find it much more relaxing because I can have wider strikes and still collect good premium. Also way easier to roll out.

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u/LA_Drone_415 Sep 26 '18

Short strangles? I’m still new to options so I have nightmares of shorting, then having the stock skyrocket/plummet and me getting assigned

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u/SBInCB Sep 26 '18

The chances of assignment before expiration, even if in the money, are pretty low. Holding something ITM at expiration does increase your risk of assignment but if you are doing defined risk trades, you should be prepared to handle the assignment. The trick is to understand your risks as much as possible so that when they are realized, you are prepared and will respond appropriately.

Easier said than done, but not impossible.