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Hi. Any idea about the salary at Chanel ?
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Robinhood. Early morning as soon as market starts
^for long call options
Enthusiast
You have to be prepared to lose a lot of money if you are going to do long dated puts. I think its the right call eventually, but are you willing to have the market move against you 10-20%?
However, to answer your question, Options alpha or TDA. I would strongly suggest paper trading first in this market - especially if you are considering puts, since many of us have gotten burned shorting.
The key I've learned is to play ST swings - holding will only lose you money. I was up 10% in a day and decided to hold my puts then was down 20% the next day. LT we are down for sure, but are you willing to pay for 6 months time premium if it takes 4 months to drop and stay down?
Enthusiast
Let me clarify - I agree with those statements. By ST I was meaning 3-4 week expirations, not 1 week. Doing anything shorter than 3 weeks is riskier due to theta loss. And certainly never do way OTM options.
My point on the LT options is lets say you bought AAPL 330p for August back when AAPL was at 325 in May. Generally that is a safe bet if its overvalued. Now AAPL is at 370 and your 330p looks a little like a YOLO play. You probably lost 75% of your value and unless you had deep pockets to keep averaging you would probably sell out for a huge loss.
So do you buy an AAPL 400p now for October only to have it run up to 420 in the next 2 months? I don't think thats going to happen but it could.
That's what I mean holding puts is dangerous in this market. You have to set strict stop losses or else you could easily get burned.
Mentor
Use a real platform. No toys like Betterment or Robinhood.
The first 30 minutes of the day is called "Amateur hour", and "Kiddee Time". If you're trying to swing intra-day and know the ticker as well as the market maker then you can trade then, otherwise leave it to the amateurs and people forced to balance their deltas.
Professionals use Think or Swim from TDAmeritrade, Schwab, eTrade or Interactive Broker. IB is the hardest of these to master, but is great.
OP, You need clear objectives. Is this cash generation, risk abatement for your portfolio, wealth building? How much are you willing to risk? How much per trade? How much per ticker?