I would strongly discourage anyone new to options from selling options when starting out, unless he is selling something like covered calls or cash-secured puts. The main reason for this is that it's tricky to take a 100% loss on a straddle, but pretty easy to take a 100% loss (or greater!) on a short iron condor. Furthermore, it might require five winning short iron condor trades to make up for one max loss. However, it might take one winning long straddle to make up for five losing straddles. As my math teacher wife would say, "it's all math".
That's where I'm at now, although my style and methods are subject to change at any point in the future. The purpose of this blog is to keep a somewhat running record of my daily notes, and to be able to highlight what I consider to be potentially great trades.
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