Unprofessional
I would like to mention the management of the trades of Avant Option for the March options cycle to make people aware of how unprofessional this service is.
They opened around the 22nd of February a bunch of bear call spreads on several indexes (S&P, Dow Jones, Russel, etc.). They were accordingly trading against the bullish momentum of the markets. One or two days later the markets fell, bringing the open positions in a temporary winning area. Avant Options was quick in sending an email celebrating themselves about how excellent their timing was... The problem is that the markets rallied since then. Apart from a meagre bull put spread opened on the SPY, they kept all bearish positions until a couple of days ago where the first tremendous losses were finally cut.
Avant Options felt great about their management and wrote how well they felt in cutting the losses timely enough. As such they manage to “sleep soundly at night”. And that’s also the reason why their strategy is so wonderful... Well, the problem is that just after having closed the losing positions on the Dow Jones (through the DIA ETF), they immediately opened a new bear call spread (only one strike higher than the previous losing spread) in order, as they claimed, to recoup the loss of the previous trade. No need to say how amateurish this is. Even a beginner in trading would not make such a mistake. And what should happen happened indeed. This position went wrong as well and additional tremendous losses were realised again.
Don’t be lured by the figures shown on the website: there is no sound strategy behind the trades of Avant Options. They are fighting the trend, the losses can be tremendous when they are on the wrong side of the market and the winning trades seem to be more the result of luck than the result of a technical or fundamental analysis.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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