January 8, 2008

Wink from Columbia, MD.

Don Fishback's Program Requires Skill and Dedication.

2 Stars (or Acceptable).

I have Don Fishback's ODDS The Key to 95% Winners, ODDS Online and Options Wizardry From A to Z. I have to admit things didn't pan out very well in the beginning but once I developed my own criteria and plan using ODDS I've been successful. Each time I deviate from my plan I seem to loose.



Here's my plan: Plug my numbers into the ODDS formula with 80% or better probability of the stock or index not exceeding and I get both upper and lower limits. I then review the chart to determine if the stock or index is in an up or down trend.



If its in a up trend I look for Bull Put Spreads with the short option at or below my lower limit. If its in a down trend I look for Bear Call Spreads with my short strike at or above my upper limit. Lastly, I place the trade only if the Expected P/L is above zero and the earnings date is not before the options expiration date.



You can make Don Fishback's program work if you are patient and place the ODDS in your favor.

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