Dave Friday 5-5-5 Plan

RandyR

New Member
Dave, the pdf says sell a 5 point wide Bull Put Vertical for $0.25 and the pptx says sell a 5 point wide Bull Put Vertical for $0.50. I'm pretty sure I've seen you do both. Do you still do both? If so, what criteria do you use to decide which to sell?
 

oww

New Member
Almost the same (just more frequent) as John Locke's bull trade. In that he says sell a 30 wide bull put spread for around $2.5 - $3.0 (will be around 10 delta) every month with ~2 months expiration (65 dte). exit: If the spread price doubles, so buy it back, or if next trade comes up (next 65 dte trade), close current one for whatever profits/losses, open next one. Do not do it iv RVX is over 40, or VIX over 30-35.
73% win rate, of course too volatile env. is not good for this.
 
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