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And in terms of contracts, as how many contracts are you using for these strategies and are you doing a similar strategy with features? So would you like go along to ees many contracts and short to Nasdaq or do you not touch the features at all?
I personally don't trade the futures. I have managers that manage futures for me. I trade stocks, cryptos, and options myself. I have other portfolios that trade options also for me, run run a strangle selling strategy. So I don't trade futures personally, and then I have guys that trade different
things right throughout different different investments and different investments. So that's how I sort of stay diversified, so that the money that I am actually managing, like an individual account or a couple of different individual accounts, I could be more aggressive and more concentrated in those positions because I have other diversification and other strategies that are doing different things.
Because something I learned over the years is that sorry to the answer to your question is how many contracts not on the future side, but on the option side. Depends on the premium right, could be one or two, could be ten or twenty, could be fifty, could be you know, thousands. Technically, you know I had two thousand contracts of these out of the money Merra calls. You know, I was like all the open interest myself. At some point at one point, I know, but anyway, so it
depends on the situation. I didn't hold them long enough for the record is the story there. But nevertheless, at one point I did have a January. I had two thousand January thirty calls from ERA at one point. Anyway,
So it just depends on the situation. But getting back to the diversification, you know, your real wealth diversification, in my opinion, by my right, not just my work, my observations, but certainly work done by very smart people, but my observations as well, is is having different strategies that are as uncorrelated with one another as possible.
Three four five.
You know that four to five range mathematically seems to be like the sweet spot once you start getting more strategies than that starts getting. You know, it's the law of diminishing returns or whatever. It's like being a basketball player, like, yeah, you know, maybe being eight feet tall it might have its advantages, but that's not really the ideal sweet spot. You know, maybe like a six' nine with handles and
cahoe from the, out you know. Whatever, right you, know like there's kind of like a sweet spot where you want to. Be you, know so that's kind of that's kind of HOW i think about. It so, anyway four to five STRATEGIES i think is so that's HOW i think about.
It, Well, CHASE i get one more. GROG i want TO i want to make. Corrections SO i said. ONE i THINK i said two eighty five is in the. Money SO i WAS i misspoke IF i said, That, mike let me KNOW i met one eighty. Five FOR i know some people in the comments might nilistic.
INTEGRITY i like.
IT i like. IT i like. It LISTEN I I i say all kinds of stuff THAT i. Live i'm, like DID i really say?
That it?
Happens if you talk every, day it. Happens, yeah it, happens, man it.
HAPPENS i wonder your options portfolio is it diversified amongst multitude of companies or are there like ten or eleven companies that you follow in?
Trade?
Right because you know we've talked about, this, right there's been scenarios where we've had strategies where we have options on the companies the stocks that we have already invested. In what's kind of your your your sweet?
Spot, yeah so we run a couple of different. Strategies so for one of them where we just sell. Strangles what we do is we don't actually use any stocks at.
All it's only.
ETFs so we take the thirty five most liquid. ETFs you know them, all you, KNOW E, E M, sp why XL k you, know like you, know you know them all or most of them, Anyway so it's just those because what that, does since we're selling, strangles we're selling naked calls and selling naked, puts so we're leaving ourselves exposed theoretically to you, know major overnight gap risk that you'll get in stocks that's relatively almost eliminated USING.
Etf so it's kind of like a risk management strategy in a strangle selling situation where we now you don't have to worry about, that, Right so we just use the most liquid thirty five, ETFs and what we'll do is we'll take the one with the highest applied, volatility the one paying the most essentially and sell that. One it's really that simple and like we like you, said you,
know and how we. Cover so that's that. Strategy and then in terms of the kind of like the more just buying and, selling you, know kind of adapting to the environment, strategy that is exactly what you said about ten twelve. Companies, now we don't focus on ten or twelve companies that we specifically to sell. Options that's pretty much the basket of what the portfolio looks. Like we are willing to trade any stock OR etf that is liquid enough to participate.
In we don't.
Care, okay final question for, you can you walk us to your be greedy for twenty twenty four?
Strategy i'm.
Curious, well so the pass behind?
It so you know every year we get together and it's like what do we? Learn you, know what mistakes that we? Make and you, KNOW i guess a Common this episode is brought to you BY p AND C. BANK a lot of people think podcasts about work are, boring and sure they definitely can, be but understanding a professionals routine shows us how they achieve their success little by, little day after.
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Forward an illegal alien From guatemala charged with raping a child In. Massachusetts AN ms thirteen gang member From Al salvador accused of murdering A texas man Of venezuelan charged with filming and selling child pornography In. Michigan these are just some of the heinous migrant criminals caught because Of President DONALD.
J trump's. Leadership I'm christy nom The.
United States secretary Of Homeland. Security Under President, trump attempted illegal border crossings are at the lowest levels ever, recorded and over one hundred thousand illegal aliens have been. Arrested if you were here, illegally your next you will be fine nearly one thousand dollars a.
Day imprisoned and, deported you will never.
Return but if you register using OUR cbp home app and leave, now you could be allowed to return.
Legally do what's. Right leave.
Now Under President, Trump america's, laws border and families will be.
Protected sponsored by The United States department Of Homeland.
Security the theme that kept coming up was you know not you know. Letting we had some huge, winners huge, winners and in some of those huge, winners we took some off the table too. Early our price targets were two conservative and we just left money on the table that could have made a significant. Impact so like the so for, example traditionally we have always so old half
of our calls as soon as the premium. Doubles so if we pay two dollars for the option and it's worth, four we sell half and we let the rest, run and you, know we'll raise our stops along the. Way now we won't sell, Half we'll just raise our stops for. Example that's one way that we are sort of. Adjusting and sometimes it's gonna shake us out, right and we know. That and sometimes it's gonna bite us in the in
the ass because we could have taken money. Off it's gonna. Happen, Yeah but we think that the longer term implications of letting some of those winners run will outweigh those little paper cuts will get on.
A year of a year, basis how much more return do you think they would give you per year doing it that?
Way, Listen it depends on the. Strategy of, Course in some, strategies there's no way to be greedier they're just gonna stay exactly the. Same but in a situation like you, know an options, ACCOUNT i mean specifically in an options, account it can make a significant impact because some of these things can really really. Appreciate they could get you, know these calls get in the money and the stock is.
RUNNING i Mean i've, Seen i've you, know witnessed huge moves in both directions for the, record but you, know, huge huge, Moves so it can have a significant. Impact LIKE i, mean thousands of percent appreciation in an account potentially is not out of the question at. All, Right i'm not saying That i'm promising ten thousand percent of
returns or, something you. KNOW i, mean that is the impact that you can potentially see in some of these, positions especially in some of those yolo calls that we talked about. Before if you're selling a, strangle or you're selling you, know putting together like a put spread or a call spread or, something you know you're not you're
going to make a finite amount of. Money it's a higher probability of success, trade but it's a finite amount of money in the case where you can go out a year or two and buy cheap calls in something ten to fifteen points out of the, money and it gets thirty forty to fifty points in the money during that two year. Period forget about. It yeah, right but there's a time and a place those. Grades in a high volatility, environment you can't be doing that. Stuff you'll go broke right.
Away final, question speaking of ten thousand percent, return what set of, circumstances what we need to get To kathy's proclamation of a five hundred thousand bitcoin price or one point five for the bull? Case you, think as A i mean a charge, Technician.
I'll defer to. HER i, mean she's she's. Smart i'm sure she's done her homework to come up with. That good for. Her you, know let's get to one hundred, first, right and then you, know then we'll worry about. It and we have different time, horizons and her AND i do different. Things so like she's entitled to believe that she could position, accordingly her investors can follow or in that or. Not, Right, like this is a free. Country all of that is great for. Me that's. Great she's
obviously doing something. Right good for. Her for, me that's just that is not WHAT i, Do LIKE i do something, else, Like i'm interested in what's happening, Now like our target was forty seven thousand on the bitcoin that was. Hit we've seen rotation into. Ethereum you, KNOW i Think etheroreum goes to thirty eight. Hundred you, Know bitcoin below forty seven is kind of messy for a, While So i'm not really that interested in. It i'm interested in some
of the other. Things that doesn't MEAN i don't Think bitcoin goes. Higher in, FACT i. DO i think we get back to sixty five and rip through that and go to one, hundred probably one hundred and. Twenty it's, probably you, know a good a good place to take a. BREATHER i think that that's how it plays. Out but guess, what it doesn't matter WHAT i. Think Right we're stuck below forty. Seven SO i can tell you it's going one hundred and, TWENTY i can tell you it's going
to ten, million it doesn't. Matter we're still stuck below forty. Seven so in the, Meantime i'm kind of chilling out With. Bitcoin i'm looking At ethereum and some of the, others you, know go down the, list some of these other alt coins and. Stuff injective protocol has been making a lot of new. HIGHS tia is another. One some of these icos are coming out pretty. Heavy so you, know we've
got our crypto scans that we've built over the. YEARS i, mean we've been trading this stuff for a decade almost, yeah about the decade since twenty. Fourteen, yeah so quite some time we started covering. It you, KNOW i. STARTED i wouldn't SAY i was trading. IT i was holding some bitcoin in twenty, fourteen but we really started covering it in our shop in twenty, sixteen so even, then you, know relatively. Early so you, know for, us we've come
a long. Way and we do a lot of like on chain analytics as, well WHICH i really really like a lot like because of the transparency of the. Blockchain there's so much more data that we get in cryptos that we don't have in traditional assets like stocks and bonds and. COMMODITIES i would kill to have some of the data that we have in cryptocurrencies in traditional. ASSETS i would kill for that.
Data an illegal alien From guatemala charged with raping a child In. Massachusetts AN ms thirteen gang member From Al salvador accused of murdering A texas man Of venezuelan charged with filming and selling child pornography In. Michigan these are just some of the heinous migrant criminals caught because Of President DONALD.
J trump's. Leadership I'm Christy, noman The United States secretary Of Homeland.
Security Under President, trump attempted illegal border crossings are at the lowest levels ever, recorded and over.
One hundred thousand illegal aliens have been.
Arrested if you are here, illegally your next you will be fined nearly one thousand dollars a, day, imprisoned and.
Deported you will never.
Return but if you register using OUR cbp home app and leave, now you could be allowed to return.
Legally do what's. Right leave.
Now Under President, Trump america's, laws border and families will be.
Protected sponsored by The United States department Of Homeland. Security