Head on over to The Street for some financial advice from ex-Mets superstar Lenny Dykstra. In the article, titled "Limiting Downside Risk," Lenny advocates his DITM options trading system:
"When we buy a call option contract, we are essentially paying for someone to guarantee to sell us the stock at a set price and on or before a set date. Then when we sell the contract, we are giving someone else the right to buy the stock. That is our strategy, and it limits our risk to the amount we paid for the option."
Pretty intense stuff from a guy who was best known for diving for balls and calling everyone "dude."
After leaving professional ball, Lenny Dykstra made a decent amount of money is various investments, most notably a chain of car washes. Nowadays Lenny Dykstra manages Nails on the Numbers, a subscription service sold by TheStreet.com. Click here for a free trial to Nails on the Numbers.
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