Stuck in the house with a computer and youtube is a dangerous thing.
I found Robinhood and started looking at options. I didn't realize you can start with basically nothing and there is no commission. I dabbled years ago when a worked for a big bank so I know the basics.
What I have found interesting is selling credit spreads. Anyone else have any options experience? Especially spread.
I am not trying to be a dick, but like are you actively trying to ignore that there are two threads on the first page dedicated to this?Originally Posted by Goodpoop
I feel bad now.
My basic opinion is this....
If you fundamentally are bullish on a stock, you should sell puts and own the stock.
If you are fundamentally are bearish on a stock, you can spread calls and I don't hate.
Don't feel bad. I still don't see them but I'll keep looking.
I was looking more into how each person uses the Greeks such as Delta and Theta. I guess more strategy.
youre going to get better information from youtube than here.
not because people here arent much more informed than pretty much 99% of the youtube edu videos, but because they are generally too busy making money to walk you through the basics.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
YouTube plus test trading account.
Somehow I got my little brother hooked on options trading oil, my mom is pissed at me (he's just 18). Went and saw them for the first time in 6 weeks cause the whole lockdown. Kid has made nearly $100,000 on his fake trading account starting with 100k since middle of January. Literally all he does all day long is watch YouTube trading videos and make trades on his fake account. He told my mom that he didn't want to go to college in the fall and would rather trade...mom wanted me to tell him he's stupid. I told her I didn't know if I could say that.
No school + incredible work ethic, he told me he put in about 1000 hours of studying since February. I never studied a 1000 hours in my life on anything.
the only thing that concerns me here is that there is a strong narrative out there where people start paper trading and end up having a really fucked up time pivoting to real money trading.
but yeah if hes slaying dragons with trading now he can sure as hell blow off college for a few years. least of all because there is zero point fucking zero good reason to pay college tuition money for zoom courses when thats literally what you can get for $40 a class on Coursera.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Not to call you and San and Daly out or anything, because you guys MIGHT be in the 1 or 10% or whatever...however don't most people who dable in options lose money when all is said and done? The spread is awful in most options.
I have only sold out of the money calls on stocks I already owned and was bullish on and that went ok. Never (or really rarely) got called. Made the premium money. Amateur. Been "buy and hold" on a portfolio of individual stocks while buy and hold was supposedly dead and made more money that CDs or bonds, but that's it. Nothing special. Nothing bad.
Has anyone here gotten rich off of options? I'm not sure I have the heart to play.
Not to call you and San and Daly out or anything, because you guys MIGHT be in the 1 or 10% or whatever...however don't most people who dable in options lose money when all is said and done? The spread is awful in most options.
I have only sold out of the money calls on stocks I already owned and was bullish on and that went ok. Never (or really rarely) got called. Made the premium money. Amateur. Been "buy and hold" on a portfolio of individual stocks while buy and hold was supposedly dead and made more money that CDs or bonds, but that's it. Nothing special. Nothing bad.
Has anyone here gotten rich off of options? I'm not sure I have the heart to play.
options are very hard to do correctly. i dont even try. there are 2 ways to lose money and one way to make it with an option contract and when you factor in vix crushes things get even bleaker.
but they are a force multiplier and they allow you to avoid the exposure from margins so..
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
Ah, OK, I thought you did fool around with them and trade...And the bolded part above, I guess that's their superpower. Massive ability to lever up without margin requirements. Can get very rich or very poor if you want to play!!!
options are very hard to do correctly. i dont even try. there are 2 ways to lose money and one way to make it with an option contract and when you factor in vix crushes things get even bleaker. Like my own selling of out of the money calls and what ABrown talking about.
but they are a force multiplier and they allow you to avoid the exposure from margins so..
I do find it interesting that there are ways to use options to reduce your risk and likely enhance returns. Still using the same tool, options, but using them very differently.
most of the adults on this forum seem to be using them to insulate themselves against risk from their core plays.
im using them to get high and occasionally go on 5 figure heaters.
caveat emptor and and all that.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
If there ever was a BEST time to be a smart options trader it is probably now. You kept your "job", you don't have to worry about catching the 'rona while at work, and there has to be some nice trades available.
It's probably the perfect career for this period, if you don't have moderate to severe cardiac issues.
YouTube plus test trading account.
Somehow I got my little brother hooked on options trading oil, my mom is pissed at me (he's just 18). Went and saw them for the first time in 6 weeks cause the whole lockdown. Kid has made nearly $100,000 on his fake trading account starting with 100k since middle of January. Literally all he does all day long is watch YouTube trading videos and make trades on his fake account. He told my mom that he didn't want to go to college in the fall and would rather trade...mom wanted me to tell him he's stupid. I told her I didn't know if I could say that.
No school + incredible work ethic, he told me he put in about 1000 hours of studying since February. I never studied a 1000 hours in my life on anything.
A good analogy would be to go from playing 2/5 nl to 25/50. They ain't the same game.
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