I've been selling naked calls.
I wrote two canadian calls at 93 in June, they're already worthless. I wrote three rough rice calls at 1040 in July a couple of weeks ago and they are at the same price. I also wrote seven july $17 calls in Silver about a month ago and pretty much got my ass kicked. Silver went crazy, I exited all of them but two and took a loss.
My question is this I don't want to write naked calls or puts anymore but I want to do some strangle strategies.
For the rough rice contract I'm currently in I'm thinking about keeping my three calls in june at 1040 and writing puts outside of the money to offset any losseS that may happen.
What do you guys think? Have you tried strangles and had good success with them?
I wrote two canadian calls at 93 in June, they're already worthless. I wrote three rough rice calls at 1040 in July a couple of weeks ago and they are at the same price. I also wrote seven july $17 calls in Silver about a month ago and pretty much got my ass kicked. Silver went crazy, I exited all of them but two and took a loss.
My question is this I don't want to write naked calls or puts anymore but I want to do some strangle strategies.
For the rough rice contract I'm currently in I'm thinking about keeping my three calls in june at 1040 and writing puts outside of the money to offset any losseS that may happen.
What do you guys think? Have you tried strangles and had good success with them?