An Important Question For My Readers

Dear Readers, The Liss Report is now 5 years old and (hopefully) still counting. I have tried to the best of my ability to provide primarily knowledge of exchange traded options but also received wisdom on the market in general. Yes, there are times I have interjected...

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The Vertical Spread

I don’t like buying or selling options outright. If you buy naked options you had better be right and be right pretty darn quickly because time is absolutely your worst enemy. The 100 call and/or put are still worthless when the stock expires at 100. And selling...

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The Only Reason to Trade is to Make Money

Trading is not a game, not a hobby, not "something to do". The only reason to trade is to make money. And that doesn't mean trading every moment of every day. Unless you are a professional trader there is absolutely no reason to trade every day. The purpose of...

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Stock Market Aphorisms

There are a lot of stock market sayings, some of them quite cliche. But cliches often are just that because they are true. Here are a few of my favorites: Lose your opinion, not your money. There are more fools among buyers than among sellers. Predetermine the exit...

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Greetings From the Netherlands

After the UK, Spain and Italy we now find ourselves back in the Netherlands, where I spent 28 happy years. We are here for a full 10 weeks before returning to Chicago after 7 months in Europe. 40 years ago the European Options Exchange (EOE) was founded and I had a...

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Self Knowledge is a Vital Trading Tool

On this Italian Monday morning I thought I might  share a few thoughts about understanding one’s self as a trader or investor. That old axiom, Know Thyself, is vital for anyone who hopes to succeed as a trader. Firstly, one must conquer those twin enemies of every...

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Market Commentary

Sometimes social/political stuff thrown in for good measure