Too bad the Baseball Hall of Fame doesn't reward chutzpah because former star outfielder Lenny Dykstra would surely be enshrined. The one-time New York Met and Philadelphia Philly-turned-financial-whiz-turned-convicted-felon is that self-confident.

Indeed, chutzpah, the Yiddish word that roughly translates to bold audacity, fits the year-old perfectly.

What else can describe Dykstra's desire to get back into the financial punditry business that gained him both notoriety -- and infamy -- a few years ago? For a while, Dykstra lived in a swanky California mansion once owned by hockey great Wayne Gretzky. However, Dykstra's life spiraled out of control, and he lost everything.

Dykstra is referring to his conviction for bankruptcy fraud after he was caught illegally hiding memorabilia from his playing days without first getting permission from the bankruptcy trustee. In another case, Dykstra was caught stealing someone's identity to steal or lease several new cars.

Nails Investments | Nailing Deep In The Money Calls

He was released from prison in Since then, Dykstra said he has been trying to get his life back on track and has been replenishing his bank account from sports-card-show appearance fees. Dykstra spent time with his younger son, Luke, during his senior year in high school. He also performed hours of community service at a homeless shelter and says he has kicked his substance-abuse problems.

That court-ordered good-deed doing is now over, and Dykstra is ready to get back to what he knows best, being Lenny Dykstra. I don't sit around and give up on life I know how to win, and now it's time to win again. Dykstra's reputation as a financial whiz came through his association with The Street.

Lenny Dykstra DITM strategy | Elite Trader

In his MoneyWatch interview, Dykstra said he was fired from the New York-based company, which was co-founded by Jim Cramer, for "making too much money. Media reports, however, claimed his column was dropped when news of his financial woes appeared in the press.

He repeatedly praised Cramer for being lenny dykstra stock options only person who was "right" about him, though he hasn't been in touch for a while. A spokesman for Legitimate work from home jobs no fee Street declined trading forex yg menguntungkan comment for this story.

Lenny Dykstra - Deep In-The-Money Options Strategies - Who Took My Money?

I worked briefly for The Street. The message Dykstra is selling now hasn't changed since scottrade day trading buying power first gained notoriety: The pathway to stock market success can be found through "deep in the money DITM calls.

DITM calls are priced below the value of the underlying security. Essentially, DITM calls allow investors to purchase large amounts of stock using less capital than they'd need to buy the stock outright.

The approach, Dykstra says, limits risk. However, his detractors note it crimps rewards, too, because the option could go even higher, a notion that the former ballplayer rejects. Ironically, as Dykstra noted, "discipline" is a quality that has been lacking in his personal life, though trading in the global currency markets cornelius luca pdf insist he always takes money seriously.

While at The Street. The agency launched an investigation but informed Dykstra in that no action was being taken against him. Dykstra is so proud of that decision that he included a copy of the SEC letter in his marketing material.

He now claims a record of wins and 1 loss. The problem with the DITM strategy, which others advocate as well, is that it's risky.

Like stocks, option prices can be volatile, and options can be difficult to trade because they can be less liquid. MoneyWatch contributor Larry Swedroe likens DITM calls to trying to win the lottery.

A handful of subscribers -- Dykstra won't say how many -- have stood by him throughout his travails. Of course, the road ahead for Dykstra isn't easy. For one thing, thousands of investing newsletters, which don't have his baggage, are out there vying for the hearts and minds of the investing public.

Dykstra, lenny dykstra stock options, remains convinced his time has come. He said his background as a convicted felon is reason enough to trust him because if he were caught pulling a scam, he would be sent back to prison. Jonathan Berr is an award-winning journalist and podcaster based in New Jersey whose main focus is on business and economic issues.

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