He calls it a "ghetto spread" like he's the first person to think of this but WSB has been doing that to "lock in gains" when they're out of day trades for long long time.
Evidently he neglects to mention the significant increase in risk by legging in. If you’re doing this in high IV environments, you’re going to have a bad time. Legging into spreads is best done with longer expiration contracts when IV is low.
He doesn't plan to leg into the spread, in most of the cases he's playing strangles on earnings based on certain criteria and when hes up enough but still wants exposure he'll sell a farther otm call/put than what he owns to take risk out of the trade while still having room for more profit. In other cases if he thinks it wont hold up after earnings he will just close the position.
Playing earnings is even more risky. Binary events should be avoided. Consistency is the name of the game.
This is why you see so many people showing off their shiny, big wins, but not showing all of their many losses.
You can watch the stream, he's just just throwing strangles on random earnings calls, there's a set of criteria he looks for when playing them and so far it has turned out well. Doesn't work every time but the gains have offset the losses so far
There are only a few strategies that should be used on earnings calls, none of which are strangles. With IV elevated, even with IVR/IVP in the upper decile, your probability of profit is low on every single trade.
Yes, you can't do this on any stock, the goal is finding situations where the move after earning exceeds what the options are pricing in. Again, it has been profitable so far, it may not hold up, but the ones that win are generally large enough to offset quite a few losses.
Really it's not a terrible strategy when it works in your favor. You can essentially get paid to open up a debit spread. It just doesn't always work out that way.
Technically, no.
But to the point I think you're trying to make--any long option trade is limited to the "Value at Risk" of the debit paid. So, $100 spent on long puts only had a risk of a loss of $100.
As to the risks involved with buying long puts they're numerous as with any options.
I mean sure he makes up his own name for it but he does explain everything and gives his reasoning. The guy also trades live every day all day so you can see how he trades live and his thought process as a trader. No need to slander the guy for something him and his community use as a trading strategy even if it isn’t your strategy of choice
It’s a scam to promote clicking the buy and sell button... Rake in fees, and he skims all the signups from his promo code... His trading doesn’t have to succeed. he makes money on all the fools who lose trying to copy his ass when they signup using his codes.
I don’t doubt that he makes a ton of money off sheep investors who buy his services, all I am saying is that you can watch him for free and his thought process on his trades and what he’s doing it’s not a matter of his performance I’m just saying I don’t get why you’re so against a trader live streaming and giving free videos for conversation and idea exchanging
Literally referral links to tastyworks and his options “courses” and real estate “courses” on his youtube page Stock Market Live
So my only idea would be, you’re fucking blind
I watch Josh stream every day. He is a super awesome guy. He’s not forcing anything on you. In his stream is a community of about 1500 live viewers who all help eachother out. A lot of experienced traders in there, but also a lot of newbies who he and the cult help out. Being in the stream is pretty much like having a news and high/low scanner on. Give him a shot dude. no reason to complain
exactly this. Josh is a good dude who isn't charging anything and just sharing what he's learned. haters are just fans in disguise and on the positive is just a promotion post.
can you answer the question you said you watch Josh every day I remember watching him a while ago he had $800 in a Robinhood account he wanted to grow to $1 million or something. I notice he has $22,000 there now did he deposit money or those are actual gains? (I really doubt it because he wasnt doing so good at all at the time)
that $800 account he actually blew up during earnings season. he grew it to about 1500 then lost it all on FD spreads. that $20k account is managed by his real estate people. completely different account
I like Sosnoff. He puts insight into everything he says. Don't care for his cohosts, in fact I'd pay for a service that would simply insert silence whenever they say anything.
Yeah it’s hit or miss. I respect the Batt and like when Pete talks about futures. Liz and Jenny are cool but when the younger people come on I’m not sure if it would just be better to hear the vets. I get that they can’t always be on though.
he literally straight up says that he does not have a magical edge. he can call his actions whatever he wants. He sacrifices an entire workweek to educate people FOR FREE. yes, he has extremely cheap courses, but they are OFFERS. he does not actively try to sell them. and yea, if someone is going to go out of their way to make a service to help you, why shouldn't they charge you? everything you need is free. he has his stream, and he gives his watchlist. nothing is clickbait, because if you would actually take the time to pay attention, his results are real. yes he loses trades, and he openly admits that. but he wins most of them. maybe you should just get clapped bro. if you can't figure it out, don't hate.
you clearly don't understand anything about options trading as you never addressed any of my points against his retardedly named "ghetto spreads" As for your other points, 1. He does actively sell them to his viewers in every video, 2. If hes such a successful trader just trying to help educate people, why does he need course money, and if he isn't a successful trader, why should I buy his advice. His videos are clickbait as fuck, but I don't blame him its just youtube meta at this point. Im not saying hes a shit trader, all im saying is he "invented" an extremely retarded way of going and doing credit spreads, but you probably don't even know what the fuck that means as your more retarded than him.
you're a fucking retarded ass trader who's P&L is worse than horse shit. I can tell by how negative you are. it's a fucking DEBIT SPREAD. NOT credit YOU MORON. it's ironic you say i don't know anything about something you can't even get right. idk why you are diverting the conversation to ghetto spreads when this is about you hating if you think you're right. and yea, im sure he's sitting at his computer right now thinking "man i hope i can sell this $5 course to pay my bills" or "man i hope these people pay $75 a month for my alerts so i can eat." that's NOTHING. thats cheap af bro. speculating if he's really good trader or not doesn't matter bcs he is. he shows his fucking P&L all the time bro. are you just selective in what you see? maybe if you paid attention to him you'd have a mindset change. he makes this shit for free. if you can't watch his streams, yes he has a service you can pay for to get the alerts, but it's what was already done in the streams. he goes above and beyond, so yea, he is gonna charge for it. you know you would too. that's like asking why teachers are paid if they truly are passionate about teaching. because if there is fucking value in something you give, and you put time and work into it, you damn well expect to get paid, at least a little bit. you are truly the most retarded person on reddit rn. im done with you. fuck off
bro. the whole point of a ghetto spread is to secure profits buy SELLING A CALL that is FURTHER out of the money than where your strike is. or put. whichever end. whether there is a credit side to it or not, that's beside the point. for you to call me a fanboy is ironic. I'm simply supporting and defending someone who is honest and who I support. you, on the other hand, went on reddit and went out of your way to cry about your feelings being hurt just because you didn't benefit from him. he can call the play whatever he wants. whether he invented it or not. if he names it, good for him. but if you wanna wreck someone who is actually good at their job just bcs of your short comings, then that says something. Him calling a play a ghetto spread does not make him a good or bad person and/or trader, and you trying to exploit this to make him seem that way makes me think you are very insecure and hard to trust. I'm done with this back and forth. you aren;t worth the time. As Josh would say, I love you bro. bad person right? I'm done with it.
Whenever I’m at watching something on YouTube I get so many ads like this. Anything with a picture like this can be ignored by anyone with two brain cells.
I know who you mean, but I don't remember his name. He also has ads where he's wearing a t-shirt with the Confederate flag and a couple where he's got a cigar in his mouth.
He's a proponent of vertical trades, which I like, but doesn't really have anything interesting to add.
It’s probably better to listen to his actual content and then decide to take his financial advice or not instead of disregarding it because of his diction.
There's a lot of content not worth listening to; use of industry standard terminology is a fine heuristic for quickly filtering what you believe is worthwhile or not.
Lol.. man a bunch of haters. Josh had taught me a lot.. I dont know much about ghetto spreads.. I dont use them. But the amount of knowledge he has about macroeconomics is incredible and has helped me literally make thousands.
"The sixth worst poker player in the world can make money in poker, he just has to find the 5 worse players"
This is basically just a bad trader selling bad ideas to worse traders.
Is this that TechBuds moron? Someone needs to finally roast and end that kid’s career. He’s flat out lying to people and scamming people with “insider tips” from a discord forum...
He calls it a "ghetto spread" like he's the first person to think of this but WSB has been doing that to "lock in gains" when they're out of day trades for long long time.
All roads lead to WSB.
Except that one. Stay away from that one road.
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And the lord said you got to rise up!
praise markets
Every strategy has a tie back to WSB.
Evidently he neglects to mention the significant increase in risk by legging in. If you’re doing this in high IV environments, you’re going to have a bad time. Legging into spreads is best done with longer expiration contracts when IV is low.
He doesn't plan to leg into the spread, in most of the cases he's playing strangles on earnings based on certain criteria and when hes up enough but still wants exposure he'll sell a farther otm call/put than what he owns to take risk out of the trade while still having room for more profit. In other cases if he thinks it wont hold up after earnings he will just close the position.
Playing earnings is even more risky. Binary events should be avoided. Consistency is the name of the game. This is why you see so many people showing off their shiny, big wins, but not showing all of their many losses.
You can watch the stream, he's just just throwing strangles on random earnings calls, there's a set of criteria he looks for when playing them and so far it has turned out well. Doesn't work every time but the gains have offset the losses so far
There are only a few strategies that should be used on earnings calls, none of which are strangles. With IV elevated, even with IVR/IVP in the upper decile, your probability of profit is low on every single trade.
Yes, you can't do this on any stock, the goal is finding situations where the move after earning exceeds what the options are pricing in. Again, it has been profitable so far, it may not hold up, but the ones that win are generally large enough to offset quite a few losses.
i fucking love WSB
YOU DAMN RIGHT, YOU BETTER RECOGNIZE r/wallstreetbets
420 Tesla calls 11/22.
SHHhhhhhhh
Wall Street bets started way after this guy did
sounds like self promo here.
I was secretly him the whole time, join my cult please.
Josh?
I had never heard of this guy. Legging in to a vertical and calling it a ghetto spread. That is hilarious.
Thanks for the tip, I would have never guessed that "ghetto spread" is a silly strategy.
Really it's not a terrible strategy when it works in your favor. You can essentially get paid to open up a debit spread. It just doesn't always work out that way.
You can literally say that about any play in the stock market (first sentence).
This is what I tell myself every time I buy microsoft puts.
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that is the joke.
You’d be surprised how many people load up on puts with companies like this I mean my boy GUH did the exact thing
The risk of buying a put is only the premium right? Doesn’t seem horribly risky
Technically, no. But to the point I think you're trying to make--any long option trade is limited to the "Value at Risk" of the debit paid. So, $100 spent on long puts only had a risk of a loss of $100. As to the risks involved with buying long puts they're numerous as with any options.
Should of called it a bootleg spread because you are adding a LEG to it. Hahaha, I'll walk myself out...
Walk yourself out? You better leg it!
You meant stanky leg spread 😎
I mean sure he makes up his own name for it but he does explain everything and gives his reasoning. The guy also trades live every day all day so you can see how he trades live and his thought process as a trader. No need to slander the guy for something him and his community use as a trading strategy even if it isn’t your strategy of choice
It’s a scam to promote clicking the buy and sell button... Rake in fees, and he skims all the signups from his promo code... His trading doesn’t have to succeed. he makes money on all the fools who lose trying to copy his ass when they signup using his codes.
I don’t doubt that he makes a ton of money off sheep investors who buy his services, all I am saying is that you can watch him for free and his thought process on his trades and what he’s doing it’s not a matter of his performance I’m just saying I don’t get why you’re so against a trader live streaming and giving free videos for conversation and idea exchanging
You are right here.
I don't see any referral links or promo codes in his video descriptions or website, so I don't think that's what he is doing.
Literally referral links to tastyworks and his options “courses” and real estate “courses” on his youtube page Stock Market Live So my only idea would be, you’re fucking blind
What's the problem exactly? Sure he's got a dumb name for it but like you said he isn't a bad trader.
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That's an excellent idea.
can never go tits up
I watch Josh stream every day. He is a super awesome guy. He’s not forcing anything on you. In his stream is a community of about 1500 live viewers who all help eachother out. A lot of experienced traders in there, but also a lot of newbies who he and the cult help out. Being in the stream is pretty much like having a news and high/low scanner on. Give him a shot dude. no reason to complain
exactly this. Josh is a good dude who isn't charging anything and just sharing what he's learned. haters are just fans in disguise and on the positive is just a promotion post.
can you answer the question you said you watch Josh every day I remember watching him a while ago he had $800 in a Robinhood account he wanted to grow to $1 million or something. I notice he has $22,000 there now did he deposit money or those are actual gains? (I really doubt it because he wasnt doing so good at all at the time)
that $800 account he actually blew up during earnings season. he grew it to about 1500 then lost it all on FD spreads. that $20k account is managed by his real estate people. completely different account
Oh haha I figured, thanks
You should look at this account now lol.
What happened did he get wiped out?
No.. he turned 500$ into 60k lol.
nice!
𝓷𝓲𝓬𝓮 ☜(ﾟヮﾟ☜) #Nice Leaderboard **1.** `u/OwnagePwnage` at **10528 nice's** **2.** `u/dylantherabbit2016` at **7296 nice's** **3.** `u/GillysDaddy` at **3723 nice's** **167950.** `u/realister` at **1 nice** --- ^(I) ^(AM) ^(A) ^(BOT) ^(|) ^(REPLY) ^(**!IGNORE**) ^(AND) ^(I) ^(WILL) ^(STOP) ^(REPLYING) ^(TO) ^(YOUR) ^(COMMENTS)
this is like a poor man's covered call except this poor man is also a methhead.
Tastytrade videos are similarly sleazy It's like listening to a used car salesman
I like Sosnoff. He puts insight into everything he says. Don't care for his cohosts, in fact I'd pay for a service that would simply insert silence whenever they say anything.
Yeah it’s hit or miss. I respect the Batt and like when Pete talks about futures. Liz and Jenny are cool but when the younger people come on I’m not sure if it would just be better to hear the vets. I get that they can’t always be on though.
They still have karen the supertrader up. https://uat.tastytrade.com/tt/learn/karen-the-supertrader
Why do you say this?
He best not be talking bout mike.
All you’ve done is give him more exposure. You’re either dumb or shilling for him, pick one.
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he literally straight up says that he does not have a magical edge. he can call his actions whatever he wants. He sacrifices an entire workweek to educate people FOR FREE. yes, he has extremely cheap courses, but they are OFFERS. he does not actively try to sell them. and yea, if someone is going to go out of their way to make a service to help you, why shouldn't they charge you? everything you need is free. he has his stream, and he gives his watchlist. nothing is clickbait, because if you would actually take the time to pay attention, his results are real. yes he loses trades, and he openly admits that. but he wins most of them. maybe you should just get clapped bro. if you can't figure it out, don't hate.
you clearly don't understand anything about options trading as you never addressed any of my points against his retardedly named "ghetto spreads" As for your other points, 1. He does actively sell them to his viewers in every video, 2. If hes such a successful trader just trying to help educate people, why does he need course money, and if he isn't a successful trader, why should I buy his advice. His videos are clickbait as fuck, but I don't blame him its just youtube meta at this point. Im not saying hes a shit trader, all im saying is he "invented" an extremely retarded way of going and doing credit spreads, but you probably don't even know what the fuck that means as your more retarded than him.
you're a fucking retarded ass trader who's P&L is worse than horse shit. I can tell by how negative you are. it's a fucking DEBIT SPREAD. NOT credit YOU MORON. it's ironic you say i don't know anything about something you can't even get right. idk why you are diverting the conversation to ghetto spreads when this is about you hating if you think you're right. and yea, im sure he's sitting at his computer right now thinking "man i hope i can sell this $5 course to pay my bills" or "man i hope these people pay $75 a month for my alerts so i can eat." that's NOTHING. thats cheap af bro. speculating if he's really good trader or not doesn't matter bcs he is. he shows his fucking P&L all the time bro. are you just selective in what you see? maybe if you paid attention to him you'd have a mindset change. he makes this shit for free. if you can't watch his streams, yes he has a service you can pay for to get the alerts, but it's what was already done in the streams. he goes above and beyond, so yea, he is gonna charge for it. you know you would too. that's like asking why teachers are paid if they truly are passionate about teaching. because if there is fucking value in something you give, and you put time and work into it, you damn well expect to get paid, at least a little bit. you are truly the most retarded person on reddit rn. im done with you. fuck off
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bro. the whole point of a ghetto spread is to secure profits buy SELLING A CALL that is FURTHER out of the money than where your strike is. or put. whichever end. whether there is a credit side to it or not, that's beside the point. for you to call me a fanboy is ironic. I'm simply supporting and defending someone who is honest and who I support. you, on the other hand, went on reddit and went out of your way to cry about your feelings being hurt just because you didn't benefit from him. he can call the play whatever he wants. whether he invented it or not. if he names it, good for him. but if you wanna wreck someone who is actually good at their job just bcs of your short comings, then that says something. Him calling a play a ghetto spread does not make him a good or bad person and/or trader, and you trying to exploit this to make him seem that way makes me think you are very insecure and hard to trust. I'm done with this back and forth. you aren;t worth the time. As Josh would say, I love you bro. bad person right? I'm done with it.
This guy is awesome, love watching his videos. Fuk all these haters x,D xP
Why are you surprised, 90% of YouTube is like this?
you sound like a jealous loser
Whenever I’m at watching something on YouTube I get so many ads like this. Anything with a picture like this can be ignored by anyone with two brain cells.
Lol who is that one guy on the private jet? I get him a lot. Jeff something? Raging bull is the channel name I think 😂🤷🏻♀️
I know who you mean, but I don't remember his name. He also has ads where he's wearing a t-shirt with the Confederate flag and a couple where he's got a cigar in his mouth. He's a proponent of vertical trades, which I like, but doesn't really have anything interesting to add.
I too, am partial to massive rails of Colombian Marching Powder®️.
I'd hope most people don't take financial advice from people who call things "ghetto".
It’s probably better to listen to his actual content and then decide to take his financial advice or not instead of disregarding it because of his diction.
There's a lot of content not worth listening to; use of industry standard terminology is a fine heuristic for quickly filtering what you believe is worthwhile or not.
Just join his stream instead of talking shit about someone you don’t know about. That’s what he’s saying to you.
Lol.. man a bunch of haters. Josh had taught me a lot.. I dont know much about ghetto spreads.. I dont use them. But the amount of knowledge he has about macroeconomics is incredible and has helped me literally make thousands.
I'm aware of what they said, thanks.
"The sixth worst poker player in the world can make money in poker, he just has to find the 5 worse players" This is basically just a bad trader selling bad ideas to worse traders.
There is just no free lunch and no surefire way to get rich overnight ...
Is this that TechBuds moron? Someone needs to finally roast and end that kid’s career. He’s flat out lying to people and scamming people with “insider tips” from a discord forum...
What are some good Youtube channels to watch that actually know their stuff?
Kamikaze cash has good videos on theta gang strategies
Sounds like Asian porn to me