Contest winners: Expiring Monthly, 100% devoted to options.

I express a deep sense of appreciation for the thoughtfulness of the suggestions received. 

As a reminder, I offered subscriptions to Expiring Monthly: The Option Traders Journal as prizes to readers who offered the 'best' ideas for single articles or recurring features, that can be used in Expiring Monthly.

'Best' being based on my opinion because there's no correct method to measure 'best.'

This magazine is 100% options.  No side issues.  If you are an options trader, this magazine will be of interest to you.  And with the contest providing additional ideas for features, it's going to be an even better product.

***

I had a difficult time separating winners and had to settle for some ties.

First Place: Winner of a one-year subscription

Andy


Second Place, and winner of a 6-month subscription:

Matt


Third Place (tie): Each wins a 3-month subscription

Jeff P

Rob

Kim

I'll notify the winners via email and enter their names on the list of subscribers. 

***

Andy and Matt had similar ideas. 

Andy suggested taking an awkward trading situation and have each of the five contributing editors describe an adjustment that he would make under the stated conditions.  The objective is to ply the skills of a risk manager to improve the outlook for the trade – or possibly recognize a lost cause and exit.  Comparing different approaches makes for an interesting article.

I don't know if this idea can be turned into reality, but I can try to get everyone interested.  I like this idea and award it the 'grand' prize.

***

Matt's idea is to suggest a trade and describe why it would be expected to do better than an alternative trade, when the alternative is seeking to profit under the same conditions as the original.  

This is the normal thought process that everyone should apply before entering into a trade.  However, a discussion may make it easier for newer traders to reach an appropriate decision – and that makes the idea worthy of a prize.

Matt's  plan seeks alternatives at the onset of the trade, while Andy's considers alternatives at the decision point.  Andy's idea is more elegant.

***

Jeff suggested an interesting chart to be included in our data and charts section:  VIX, along with a rolling moving average.

Rob likes the idea of interviewing individuals who trade for a living.

Kim suggested taking a look at how the level of implied volatility, as measured by VIX, may influence which strategy a trader adopts.

***

Thanks to everyone who entered for those suggestions.  The contest is over, but I would love to hear additional ideas.

614


Feb 16, 5PM ET, Webinar by Mark D Wolfinger

Covered Calls From a Different Perspective

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Presented by Trade King

2 Responses to Contest winners: Expiring Monthly, 100% devoted to options.

  1. Andy 02/15/2010 at 10:41 AM #

    Totally thrilled to be a prize winner! I was planning on signing up for a subscription anyway (a bargain when compared to other sites out there) so will just tack this on to the 1 year. Your contest is a great idea to get readers pumped, I know I’m looking forward to your e-magazine now that articles we’re interested in will be in there.
    As you can probably tell, a couple of my ideas were aimed at taking advantage of the option trader ‘think tank’ that’s come together for “expiring monthly”. In particular, it would be interesting to see how several all-star options traders approach the same situations/dilemmas and the thought processes behind them.

  2. Mark Wolfinger 02/15/2010 at 10:52 AM #

    Andy,
    I clearly like your idea. But I have no clue (yet) whether others will feel the same.
    We would have to take the trade gone bad – and simultaneously (over a weekend perhaps) devise a plan of action and then publish those plans – at the same time. Not live – but in the magazine.
    To me, it would be a learning experience. The real-world results would be of interest, but the true benefit of this exercise is to provide readers with a variety of thought processes to evaluate.
    That should make it more efficient for readers to devise their own plans. I hope we can add this as a semi-regular feature.