> I was wondering if anybody could share their
> experience with writing (selling) options,
> and the strategies they've employed. :)

Can’t say I’ve jumped in yet, Thomas. I’m still in the studying phase.

> I've never followed such a strategy. I've
> mainly taken long positions in stocks
> before, and have bought call options before
> (only a very small amount, unsucessfully),
> but am currently looking into incorporating
> writing options into my strategy.

> Many thanks!

> - Thomas Rice.

You’re in luck though. I am in a period of intensive study regarding options strategies. So if you or anyone else is interested in learning more about the strategies (which are relatively simple after studying a little) and ideas about money management and trading psychology (which get a little trickier), then I've got a few different resources for you.

Some things to look into - option spreads, option spreads, and option spreads.

Here's some good books:

"A Common Sense Approach to trading options."
By: Fred Strickland $20, well worth it!, pay particular attention to his 2 rules. http://graymetalbox.com/main/promo.htm

The New Market Wizards

Getting Started in Options by Michael Thomsett

I also read the Conservative Investor's Guide to Options recently. It was well, too conservative, but he did objectively include more aggressive strategies in a section called "Not for conservative investors".

Picture me sitting in a library surrounded by piles equaling a total of 50+ books. Every options book in the place. Now, I narrowed them down, took my recommendations list out, skimmed the 40 I discarded and took the rest with me.

And waiting to be read by me is:

The option secret: Volatility
Trading for a living by Alexander Elder
Trade your way to financial freedom by Van Tharp
Trading in the zone by Mark Douglas
The mind of the trader by Alpesh Patel

This is an article I was reading last night. It has some very, very good points. Although I feel I’d still fall on the Neiderhoffer end of things in the end.

http://www.gladwell.com/2002/2002_04_29_a_blowingup.htm

Sorry I don’t have any actual experiences to share, Thomas.

I do however have a link I can give you to a set of the absolutely most amazing, superb, brilliant, freethinking, honest articles on options that I have found. They were written by a man named Greg Donio. Maybe you’ve been fortunate enough to have been exposed to them before.

http://www.ctcn.com/options.htm

This is the best I can do right now. However, if this was a few months in the future, I’m sure I’d have a little more first hand experience to give you.

Success,

Erik Lukas