Some have asked about the quote from Dr. Dan A. (who mentioned Mr. Fishback in a New England Journal of Medicine editorial he authored) about how ODDS Online helps you in your exit decision when analyzing an option strategy that we tend to implement:  straddles, strangles, credit spreads, and covered calls. 

For straddles and strangles, we use the stock price as our target.  That is, we want the stock to move a certain percentage and once it has moved that percent we take our profits.  The percent target is found in the detail section of the "High Profit Report" (blue button).  If you click on a stock symbol, it will take you to the detail report.  Look in the pinkish table in the "Anytime" column, and look in the 3rd row down, which is the "Median Departure from closing price".  You'll see a percentage figure.  That's how far we expect the stock to move, so that can be your exit target.  If the stock moves up or down by that much, you can exit the profitable option.  For more information, check out our introductory course Options Trading As A Business.

For credit spreads, we let the options expire.  The vast, vast majority of the time the options expire worthless and we keep the premium that we received as a credit when we first put the position on.  This should happen 85% - 95% of the time.  In the unlikely event that we do have a loss, we don't take any action prior to expiration because the trades are limited risk by design.  For more information, check out the E-Book Bonus titled ODDS 101-The Scientific Secret To Amazing, Highly Accurate Options Profits that comes with Options Trading As A Business.

Covered calls are a completely different animal, because you are trading a stock and an option in combination.  We look exclusively for deep in-the-money covered calls that have a probability of profit of at least 80%.  With those strategies, our exit criteria is to get out of the entire position if the stock drops more than 15% below the strike price.  This strategy is not covered in Options Trading As A Business, but it is covered in our Profit Power Seminar.

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