Greg Proctor

Last year I made over $260,000 selling options, verifiable on my brokerage 1099, which I've posted publicly right here on X. I'm teaching a few students at a time how to sell options using my techniques over 12 weeks. Fair warning: this is only for people with $200K+ in net liquidity who are serious about learning. If that's you, DM me.

@JustinInvesting I’m surprised this place survived Covid. I used to go here in 2018 or so.

fav tiki bar in SF by far is Smugglers Cove- came to celebrate first month being green and bought their awesome rum barrel mug I’ve been eying a few months 🍹

@giorno27 @Ze1ooooo 1-5% as an options seller

@GregProctor @Ze1ooooo What’s a healthy range?

Total profit for July

@ShawnASearle1 SF Bay? Coldddd

Heading out to the Bay Bridge with my big sis. First time I’ve been out this summer.

Nice work @JustinInvesting

This is exactly how I like to enter 0DTEs on $SPX. I wait until the momentum indicators show that $SPX is oversold then I sell a put credit spread. Sure enough, SPX was oversold, changed directions, and now I'm 66% profitable. 0DTEs take patience on entry and discipline on entry.

Wow! @CarsonTalkMoney is going places. If I can help Carson, please let me know.

@BoBbyPleWniaK This is going to work out well for me if tech rips back in the other direction

@GregProctor Gotta close out the month tomorrow

If the market rebounds starting with today’s rally, I’m going to believe this is true. At the same time, I won’t care because I’ll just be glad my portfolio is returning.

@stevenstrogatz Anyone with experience in the water, surfer, random beach kid, lifeguard, etc., does this. You’re simply throwing your weight against the whitewater as a counter force so that the white water doesn’t drag you as much.

If I'm seeing this correctly, it looks like the lifeguard deliberately angles himself horizontally (along with the child) whenever the powerful waves are about to hit them. Is that a standard survival technique in this sort of situation? What incredible courage and skill!

One of my biggest issues on here. When stocks are rising, no one ever talks about taking profits and protecting capital and hands out ridiculous prices targets. Anyone who does is labeled a “idiot shill spreading FUD who doesn’t understand the company.” When stocks are dropping, no one ever talks about buying at key levels because the bottom isn’t in and hands out price targets 20-50% lower. Anyone who does buy at key levels is an “idiot bag holder who couldn’t clearly see the decline”. It’s the upside down.

@ShawnASearle1 haha

@GregProctor Greg making jokes… 🤣

$AAPL beats, $AMZN beats. The capex fears should be receding with these beats, right?

@TeslaToro We’re paid to take on risk. When there’s this much choppiness in the market we’re going to be managing a lot. That’s okay. Over the length of the year, we win.

@GregProctor Amen, brother. Literally, has been the last week managing the bloodbath - defending, rolling, etc. Just hoping we are near the bottom because not sure how much more I can manage.

Hard to just sit, defend, and watch the bleeding. Stay mechanical friends. Let’s see if $MSFT and $META can pull this market out of the gutter. If you need some assurances right now, look to the average performance of the market during mid term election years. We’re tracking it pretty well.

@JoelJames194582 @jschultzf3 Very true

@jschultzf3 I’ve learned the math side of this game is the easy part (which is funny because it’s why so many people think options are “hard”) the truth is the psychological side and discipline to be a true robot is where the true challenge sits. Thanks for all you do sir!

Advanced mathematics or applied statistics will never help you make a trade.  It won't tell you when to buy a Nasdaq future or when to defend a TSLA strangle. The core features of these models will never be so finely tuned that they help you spot specific opportunities in the market.  In my view, people looking for that level of surgical precision out of mathematical theories and statistical modeling are trying to square a circle from the start. Instead, all the math and stats that we lean on can be better viewed as the background behind “what it is that we’re trying to do” (shoutout to the FTTP fam!) After 5 trades anything can happen. After 10 trades it’s still a crapshoot. After 50 trades some patterns may begin to emerge.  After 100 trades your results might begin to smooth out. And after 200 trades the actual results begin to connect with the theoretical probabilities. There’s a reason for that, and it’s not my personal opinion or subjective conjecture. The quantitative backdrop that sits behind the actionable strategies that we apply every single day is guiding our processes. Naturally, none of that means it will always work, and there are no guarantees when you’re playing a game of probabilities. But going into the markets armed with the theoretical tailwinds of the Law of Large Numbers, Central Limit Theorem, and Implied Volatility Overstatement never hurt anybody.

@KettlebellDan Stupid hurts

I see a lot of parents put motivational quotes on their fridge Give me a good quote for mine

@JeysenPlantin I don't. haha

@GregProctor I want to see if it will fall as low as $275 or lower.

I'm betting that the $TSLA pain continues to the end of the month then turns around. Just a gut feeling based on how the market has been lately.

@giorno27 Markets have been changing direction at the end of the month this year.

@GregProctor Then thank God we’re at the end of the month!

Created this 1-sheet #options Covered Call explainer / cheat sheet for a friend. I was going to attached it to this post but forgot you can't attached PDFs in a post. DM me if you want it and I can DM it to you.