Rising Stars

Meet Dr. Larry S. tastylive's Newest Rising Star!

| Oct 31, 2016
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    Rising Stars

    Meet Dr. Larry S. tastylive's Newest Rising Star!

    Oct 31, 2016

    Our newest Rising Star is Dr. Larry S. Larry was born on Long Island and lives in New York City. He attended SUNY Albany (Tom’s Alma Mater) and is a Board Certified Foot Surgeon. He was introduced to options in the form of Covered Calls by a friend back in 2004. He progressed from Covered Calls to Poor Man’s Covered Calls and eventually to Iron Condors. Larry prefers “skip strike” Iron Condors in which his short Call Spread is wider than his short Put spread. To stay engaged, Larry will move away from RUT and SPX and trade individual stocks in earnings plays.

    Larry started corresponding with Tom back in the thinkorswim days. Like Tom he likes to be short Delta to compensate for his short Vega position which would cause him pain if there was an increase in Implied Volatility (IV). Tom and Tony acknowledged they structure their portfolios in a similar way. Larry uses Put Calendar Spreads to hedge against some of his Vega risk.

    Larry runs a successful medical practice, an MRI service and a marketing group. He has been successful with each and has been successful in his trading for a number of years. His best year was last year, 2015 in which he was up 79%. Larry explained how he stays mechanical and manages winners in his own unique way.

    He ran into some difficulty earlier this year and was down about 20% when the rally off the February lows was very sharp. The skip strike Iron Condors he shorts usually enable him to roll his trades when he is taking heat, but the rally was too steep. He has since recovered and turned positive on the year. He uses defined risk trades because he has limited time to trade, especially on Fridays when he is performing surgery.

    Watch this segment of Rising Star with Tom Sosnoff, Tony Battista and Dr. Larry S. to learn from Larry’s trading journey and the questions asked by Tom and Tony. Keep on watching tastylive and perhaps you can be our next Rising Star.

    This video and its content are provided solely by tastylive, Inc. (“tastylive”) and are for informational and educational purposes only. tastylive was previously known as tastytrade, Inc. (“tastytrade”). This video and its content were created prior to the legal name change of tastylive. As a result, this video may reference tastytrade, its prior legal name.

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