Dan Passarelli, CEO - Market Taker Mentoring

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Never too old to keep learning. That's Dan's mantra. And he's been doing this trading, at least involved in the options space, for about 29 years now. That is a great mantra to live by. The more you learn, the more you earn.

What's new with Dan: "One of the ways that I've been learning some things lately is I've been watching what professional traders trade: live-realtime, specifically with credit spreads. I sort of have this scanner that shows what's trading. My initial reason for it was to see what smart money is trading and be able to jump onto it. Which sounds great, right?"

"But in addition to that, I'm getting this sort of inside look, this inside sneak look at how the big dogs really trade. And I saw something really interesting show up yesterday in Meta, formally known as Facebook. (The artist formerly known as Facebook.) Yesterday in Meta, in the August 26 expiration, somebody sold a whole bunch, hundreds of the August 26th, $151-$155 put credit spreads. And if you look, like this fits our system exactly."

"So not only did I look at it, but I went through all the Market Taker criteria and we've got wonderful support here. The options are priced right, everything lines up exactly perfectly. I couldn't have picked a better credit spread myself. And here one of the pros traded it in really big size. That's interesting."

"But you know what's really interesting is that today, somebody came in (a big professional) and traded 1000 of the August 26th, $165-$167 and a half call credit spread. Look at this: they sold the put spreads yesterday and today it's up. There's a pretty big range. There's like $7 range on the day or almost a six dollar range on the day. Then towards the end of the day, they end up seemingly maybe completing the other leg of an iron condor."

"Now, to be fair, there were a lot more of the call credit spreads that traded, but they may have broken up the put credit spreads into a couple of different trades. So I found that very, very interesting that I know I do, and I know a lot of our successful student traders leg into iron condors in this exact same way. And here I am watching it play out live-realtime, by a real professional trader, trading hundreds, trading a thousand spreads at a crack here. So that is one of the things that I've learned recently about what the smart money does as I watch them."

"Now, you're probably wondering, Dan, where do you have the scanner to find credit spreads and such? Well, I'm going to do a webinar tomorrow night. For those of you who are watching this live: tomorrow, Thursday, August 25 in the evening, 7PM Eastern time, 6PM Central and I'm going to be talking about the scanner that I built. It took me six months to build. You're going to love it. No one else has anything like this in the entire world. It was built specifically by me, my team and my folks that I know over at the Chicago Board Options Exchange. I'm going to tell you all about that. I'm going to tell you how we can then go and proofread the trades. And then there's a special treat for you at the end of that presentation."

"To watch it, all you have to do is go to the web page that pops up right after. This is Dan Passarelli. Trade Smart. Here it is."

To register for this webinar please sign up here!