Big Money Options Latest Review updated July 1, 2012






































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Big Money Options Review Latest Update  

This updated review is for Big Money Options  and not Big Money Options Pro.  For a review on the Pro version of Big Money Options newsletter service click here.

As noted in the earlier review, I have been with this service since 2005 when it was under a different name and under the leadership of Jon Najarian.  This options newsletter service under the name Big Money Options had been a consistent performer until 2011.  I had a habit of bailing on picks if they didn't pan out in a short time frame, but found this strategy to be the best to avoid big losers.

There was the infrequent pick that if held long term, read 90 days and more, yielded a big winner. The problem is that if you held on to all of the picks throughout the term most Big Money Option picks lost big money.

Big Money Options held two live calls, similar to the Big Money Options Pro service to update subscribers on the service in the spring of 2012.  They admitted on the call that it had been a tough last 12 months, but they remained optimistic.  This live call did not yield the same info as the Pro service where you could see how many subscribers had tuned in for the call.

It seems clear that there was a drop in subscribers in the last year from 2011 to January 2012 if you look at the volume action on their option picks.  When Doctor J led the newsletter, there was insanse volume after a pick.  The volume was still strong with Atkeson & Houghton in the early days after they assumed leadership of the flagship product at Changewave. During the first half of 2012, there were a couple of times that I wondered if I was the only one that received the alert because of the anemic volume immediately after the alert.

I noticed that Big Money Options has a bad habit of staying too long with their picks.  Their picks are not panning out for their subscribers.  Examples for the curious, June 29, 2012 Big Money Options had the following open positions

Date of Big Money Options Alert

Return (+/-) rounded to nearest percent

June 13, 2012

-40 %

May 31, 2012


May 22, 2012


May 9, 2012


March 20, 2012


February 23, 2012


February 22, 2012


December 18, 2011


To be fair, Big Money Options had three alerts that week to close existing positions.  The first one was a 50% gain in two weeks, the second alert represented a 33% gain after three months, and the last alert was a gain of 6% after 24 days.

As you can see from the open positions table above, the Big Money Options team allow their picks to sit on the shelf for a long time.  The freshest idea is close to three weeks old as of this writing and is down 40% -- my barometer to exit an option trade. One idea from May 9 is down 99%.  I don't have hard data on what the percentage is of option trades that are down 99% of them clawing back to break even.  I have to think it is extrremely rare. They have said their average hold time for a pick is three to six weeks.  (continued)

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