Hi, I'm Mike, the OptionWiz.
For TheOptionWiz, the basic premise is to take advantage of the fact that nearly 80% of all options expire worthless. So, given that most options expire worthless, we put the odds in our favor by putting an emphasis on collecting premiums from selling options rather than just simply buying a straight call or put.
I have been trading equities since 1998 and actively trading options since 2003. I have significant experience in a multitude of options trading strategies including covered calls, calendar spreads, vertical spreads, diagonal spreads, straddles, strangles, butterflies and iron condor spreads. In 2008, I co-founded Pro17.com. Pro17 offers a stock and index forecasting service which uses a proprietary combination of human emotion and technical indicators to predict direction in 17 day cycles. I am also a Registered Investment Advisor in the state of California.
