Dan Sheridan

Dan Sheridan

Dan Sheridan is a 22-year CBOE veteran who worked with the highly successful specialist firm Mercury trading, which was headed up by Jon and Pete Najarian. While at Mercury Trading, Dan was responsible for training most of the traders including Pete Najarian, one of the current hosts of CNBC's Fast Money. Dan has been teaching individual traders on the techniques and methods he used every day to consistently profit in the options markets since 2004. Dan hosts the weekly CBOE TV show "Options Safari" at CBOE.com and does educational webinars for the CBOE and many brokers. The CBOE has sponsored live seminars with Dan for the last 5-years.

No Comments

Do you know your Greeks?

(One of the nice things about having several blog contributors is you don’t know what the next entry will be. Dan wants you to take a self-quiz, with the answers explained next week. You may find a few of these questions difficult, but Dan isn’t a tough grader! Enjoy)! Do you know your Greeks?  Today [...]

No Comments

NETFLIX: A Few (bullish) Trade Ideas

Netflix has surely paid for their price increases and especially how they communicated those price increases to the public. The public and investors responded by trashing the stock price. From around the middle of July to today, the stock has fallen from around $300 to the current level of $129. Buyers haven’t jumped in much [...]

No Comments

Story from the Pits ( Cool Hand Luke)

I miss the Pits! It was a world unto itself. In many ways, it was an extension of High School, maybe that’s what I liked about it. My time spent there (I promise it wasn’t prison) was from 1982-2004. I forget the exact years, but for a 2-3 year period in the 90’s, I was [...]

No Comments

Lessons from GOOG Earnings

GOOG was up an amazing $68.68 to $597.62 last Friday! 13% in 1 day. Call buyers, straddle buyers, call vertical buyers , and put vertical sellers were richly rewarded. Put buyers, straddle sellers, call vertical sellers, and calendar traders were destroyed. There was no time to adjust or get out of the way. Like the [...]

No Comments

The Lure of Weeklies (1 strategy and 4 tips)

What’s the fascination of Weeklies? Why is this the hottest thing in the options market? Buyers of weeklies use it as a hedge against their portfolios or individual strategies. They also like the fact that they can hit a home run if the price moves quickly in their favor. Sellers of options like the fast [...]

No Comments

Profit Expectations as a Retail Trader ( part 1)

How much money can I expect to make? What monthly yield is reasonable? These are questions I’m asked weekly by prospects and retail option traders alike. Before I address this, allow me to have a brief Kung Fu moment. In the TV series Kung Fu, before David Carradine would start a fight in a small [...]

No Comments

Most Important Option Relationship: Delta/Gamma

In the late 80’s, my morning train ritual was pretty much the same. First half of the ride, sports section and coffee. The second half of the ride involved a crucial phone call that would be a big determinant of my happiness for the day. It was the call to my clerk on the trading floor [...]