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San Jose Options

Discussion in 'General Discussion' started by John Chernicky, Aug 25, 2016.

  1. Is anyone familiar with an outfit called San Jose Options?
    If so, I would like to hear more about them.
    John
     
  2. Boomer34

    Boomer34 Well-Known Member

    I know Ron has some info on them...maybe he will shed some light.

    For me, I was actually googling them last year, and it is what led me here to capital discussions. Best move I have ever made!
     
  3. Rtb

    Rtb Well-Known Member

    I was googling Sheridan Mentoring 3 months ago and found the Sheridan Mentoring Administrative Fee thread here on Capital Discussions. I knew before I started googling I didnt want to join Sheridan Mentoring but was looking for another Option Trading Community. In that one google link I found a great community and it showed my instincts were correct.
     
  4. status1

    status1 Well-Known Member

    I got here the same way I was googling one of their trade types and I found a discussion about it here although after asking some specific questions I guess some of the lawyers got involved about copyrights and the thread was deleted from this website
    Seems like they are very protective about their strategies That's ok I found a lot of good information here from the discussions and the videos and I am learning a lot for free
    They are charging thousands to become a member so I never signed up so I don't have an opinion on them

    I just got an email from them recently saying they will discontinue the membership for new retail traders and going forward they will only offer membership to professionals which is thousands more than the retail membership

    Call me a skeptic but I don't believe the membership price is worth the information received
    They seem to rely a lot on proprietary software and the second order greeks which is ok I guess as long as you are a member but once you stop and you are on your own are you going to know what to do when the markets shoots up 60 points and than goes flat for a month or maybe you cannot follow the market during the day
    For me it was not worth it
    I am learning a lot more by doing my own live trades and trying to develop a trading strategy that I can do without looking at the markets all day So far this website and every one here contributing to it has helped me a lot in that respect
     
  5. Teddy

    Teddy Well-Known Member

    You would have to say that the market seems to be dominated by a few players now. Tasty Trade presented a few things on their show and SJ Option was upset with them for presenting something that SJ Options' teaching was copied.
     
  6. AKJ

    AKJ Well-Known Member

    I tried watching one of their new youtube videos that discussed Karen the supertrader's losses......presentation quality was just terrible. The presentation and discussion quality on Trading group meetings here are far higher than what I watched, which is surprising, the TG meetings here are not scripted.
     
  7. Rakesh

    Rakesh Active Member

    Teddy, what were the Tastytrade segments about?
     
  8. Dane

    Dane Member

    I purchased SJ's portfolio margin mentoring. It was expensive and I signed a horrendous NDA. I suspect my mentoring will be suspended by even mentioning it here. I can say that there are a few interesting trades ideas, but there really is no mentoring to speak of. There is a random live (webex) group presentation, but that's not mentoring worthy of the price you pay. As far as the software mentioned, it has some impressive functionality, but it is proprietary, buggy, looks pretty, but with bad usability. I pay for it, but have stopped using it. Every now and then I "play" with it. Bottom line, I think it is interesting, but not a good value. I regret my purchase.

    I am having a very positive experience with Sheridan Mentoring and, of course, this community in Capital Discussions.
     
  9. status1

    status1 Well-Known Member

    Thanks for sharing your experience
    I had a feeling it would be something that is not really worth the price
    I think you saved a lot of people a lot of money and curiosity
     
  10. onyxperidot

    onyxperidot Well-Known Member

    I found two Morris Puma.

    SJ Options:
    http://website.informer.com/Morris+Puma+San+Jose+Options,+Inc.html

    OptionVue:
    http://www.zoominfo.com/p/Morris-Puma/1560010893

    I wonder whether they are connected, related, or the same person.

    I researched SJ Options a couple of years ago, read some of his articles and watch some of his videos. Although Puma is very assertive in his manners, I was not impressed with his real knowledge. I was certainly not convinced to pay the kind of money he asks for his stuff.

    By nature and nurture, I am a tightwad. I don't easily part from my pennies. Without reservation, I can attest that Capital Discussions membership is a much better deal.
     
    Last edited: May 5, 2017
  11. Edward

    Edward Well-Known Member

    I signed up with his course several years ago. He had a guarantee then. I am not sure if there is a guarantee now. He never honored his guarantee. Enough said.:eek:
     
  12. status1

    status1 Well-Known Member

    I am just surprised that not many people have spoken about it positively or negatively
    I was wondering what kind of agreement they must have signed for that mentorship
    If it was a positive experience why not talk about it and share it with everyone that way more people can sign up for it ?
    I understand that they have those testimonials but you never see any negative testimonials so you can't tell from that how many are satisfied and how many are not
    I am guessing it's somewhere in the middle
    The program may be good while they are using the software but they don't want to say anything negative because they will loose access to the software even though they may not learn anything significant
    On the other hand they may feel that the prices paid for a few good ideas may not be worth as much but with the exception of a few who shared over here I have not heard anyone else complain about it
    Maybe they are embarrassed or don't want to admit to themselves or others that they paid too much for something without learning too much or maybe they are threatened with some lawsuits if they say anything about it
    I don't know I am just surprised no one is allowed to speak about it with any specifics
    Are they really that good ? Are they better than all the strategies mentioned on this forum by all the best traders combined ?
    I seriously doubt that
     
  13. Edward

    Edward Well-Known Member

    I was with SJ even before their "Magic" software solutions. They were teaching techniques way back then. In my opinion there was a lot of subjectivity in their adjustments. They had a guarantee that if you don't make money you get your money back. I lost money; asked for a refund but was rejected despite the guarantee. I understand they are much priority software oriented now with a steep subscription fee. --- This is my final word on this matter.
     
  14. Teddy

    Teddy Well-Known Member

    The software was discouraging to join. That was an obvious item they sell and collect on fees. I am suspicious of SJ Options. Perhaps they are can do what they say. On the other hand, the fee might be expensive and it would be some generic strategy. The worst thing that could happen is that start teaching iron condors, flies and calendars, or Dan Harvey road trip.

    I was being mentored by another firm and they were teaching a form of the Road Trip, but used 30 to 45 days to expiration.

    The problem with the industry is that any of these strategies can be hi-jacked and trigged to be a version of any mentor's version.

    If you go on Youtube, you do find interviews from SJ Options from clients. I remember some interviews had actors of clients. That was kind of odd. They actually paid actors to play the role of their clients.
     
    Last edited: Mar 6, 2017
  15. TraderJ

    TraderJ Member

    I almost bought their program last year but couldn't find enough unbiased reviews. I looked all over the internet (including this thread) and couldn't come up with much. I found one person from another forum who had a bad experience (he bought the SJ course in their pre-software days). I also found an EliteTrader.com thread from like 2009 in which someone said SJ's primary trade had been debunked. He gave a link for the "debunking" thread but EliteTrader apparently deleted it. Maybe SJ complained or it had proprietary information.

    Since it's an expensive program, I asked SJ if I could contact 3 of their current students. They couldn't provide this information. Since they're mostly pushing an adviser program now, I asked for names of advisers/money managers who use SJ's software and their track records. Again, they couldn't provide anything. Now that others have spoken up on this thread, I really think I did the right thing in not buying their services.
     
    Teddy likes this.
  16. Teddy

    Teddy Well-Known Member

    That is interesting. One of things that deterred me was being the only person that was attending that session of how Karen Supertrader blew her account. It just did not seem right to step on Karen at that point to get business.

    Most negative feedback can usually be deleted because firms are afraid to be sued. Negative things are often suppressed when it obviously exists. How often do you hear people telling you of losses? o_O
     
  17. jpresser

    jpresser Member

    I was with them when they said you had a life time membership which they did not honor. The trades were unique at the time. Their trades are similar to the road trip trade, and the space trip trades. In addition he got into front and back ratio trades. The back ratio trade is what he calls the brick, which is a back ratio iron condor. You have extra longs on the puts and the calls. back then the course was worth the money, but once they started moving away from ThinkOrSwim the content went down hill. The new software is not user friendly, plus you will have to keep paying for it. The prices now are not worth the money. Just learn the road trip, and space trip trades, and you essentially learn their best trades in my opinion.
     
  18. Teddy

    Teddy Well-Known Member

    That is interesting.

    I find that the personality of the person is important. Often many are obvious after membership or annual fees. Being able to feel the person who sells something to you is important and how you are being sold something. Is the selling logical or emotional?

    I like Dan Harvey's voice. There is something in his voice that manifest someone who is disinterested in earning from the education side rather than from his own trades. For this reason I do like the Road Trip trade. He is on the emotional side of being proud of the 45 line for the RTT. :D
     
    Jack likes this.
  19. David Stewart

    David Stewart Well-Known Member

    SJ Options = BOGUS
    Enough said
     
    Teddy likes this.
  20. Mark Joseph

    Mark Joseph Member

    I am very interested in SJO's claims of virtually no losses, etc.
    Here is their latest marketing email to me:
    "Since January, SJ Options has generated investment returns of 125% for Portfolio Margin trades and 35% for Regulation-T trades. SJ Options Method is creating the environment for success. Since January, we have added 15 winning trades with no losses. That makes our win to loss ratio a tidy 99.3% that further supports the success of the SJ Options Method. We would like to show you how you can personally achieve similar results! "

    I recently attended their one-on-one online presentation re their program and their software. This is what I gleaned from the presentation: Their software monitors IV by strike and then customizes their entries and adjustments (mostly broken wing butterfly-family trades??) based on what strikes are expensive and cheap. The basic idea is intriguing, especially if their performance claims are true.

    Can any other SJO subscribers shed light on their fantastic claims? Is my basic take on their approach correct? Is their anything of value to be learned here?
     

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