Bob, Options trading

I use spreads when I anticipate a slow movement in the market.
You use spreads for everything because it has become a habit and always seems like a good thing in
your mind regardless of the circumstances.
If I don't copy your technique, you tell me that I lack balls.

When INTC and MSFT were rapidly rising in the 1990s, you wrote covered calls and I purchased
LEAPs.  I wrote the first book in microprocessors and figured that there would be a rapidly rising part of
the S curve in the industry.  You were oblivious to the fact that the S curve was in its ascendancy and
lost out on the opportunity.

When the year 2000 arrived, I anticipated that the demand for new computers in order to avoid Y2K was
ending on Jan 1, 2000 and I sold all of my high tech stocks and LEAPs.
You didn't notice that the "Y2K disruption" had been discounted by massive upgrades to computer
systems and expected a bunch of companies to have disasters due to not being prepared for Y2K.  
When I pointed this out, you cited problems in one company in Hong Kong or Taiwan as a defense of
your position.  There is a program on TV called 20 under 20 and they emphasize that entrepreneurs
must be willing to learn from their mistakes.

Now we are on the verge of a huge dislocation in the energy market due to the Papp Engine.  A
dislocation that one could claim was due about 50 years ago if Papp's invention wasn't put down by
Richard Feynman. A Shumpterian destruction of the Internal Combustion Engine, the whole oil and gas
infrastructure worldwide, the closing of half of the gas stations in our lifetimes, the reason for most wars,
etc.  Given the past, I have no doubt that you will once again fail to make much money from the
knowledge that I spend hours trying to pound into your thick skull.  

I give up

I have no desire to trade options in RUSS.  They are simply too thinly traded for a professional to be
interested in participation.  I shall leave it for the market novices who don't know any better.
Let me suggest that you visit the Board of Options Exchange and discuss your various ideas with
professional traders.  You will probably not continue to use all of your techniques for long after talking to
traders who make their living at trading options.

I visited many years ago and talked to the son-in-law of Bob Hoffman who, with his partner, traded stock
options for a living.  I received a clear indication as to which of my ideas seemed laughable to him and I
subsequently took note of his opinions.  Bob Hoffman took the attitude that I was an amateur and that
his son-in-law was a professional that would be taking my money from me over time.

I also read a number of books on options and discussed them with Dave Padgitt and his friends who
traded downtown.  My impressions of what the system was and how it worked were greatly affected by
those conversations.

These markets are non-trivial and you are playing in a sandbox frequented by very sophisticated

I can be polite and watch you act incorrectly according to "the rules that have been proven profitable" or
I can tell you my frank opinion on the matter and suggest that you do more reading and have more
discussions with professional traders.