How to get started with options trading? Which platform is best? Which time of day is best for trading? Already went through investopedia to understand the basics. Thinking about several long put options.

like
Posting as :
works at
You are currently posting as works at

Robinhood. Early morning as soon as market starts

likefunny

^for long call options

like

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?

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.

like

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?

Related Posts

I’m not liking these back to back deadlines 💔

like

Creeper status. This was after this morning standing behind me looking in the camera. Sigh I didn’t have background blurred so teammates saw her nosey self

Post Photo
likefunny

I’m a 3rd grade SDC teacher on an emergency credential — had never stepped foot in a classroom before last Tuesday. Can anyone offer advice/resources for lesson plan development? Help!

Anyone know anything about what Work & Co is actually like?

likesmart

I saw this in another post and thought I would share. How many of us are dealing with this?

Post Photo
likesmart

I took the role I am in about a year ago and it just has not been what was promised and a huge step back. I have found a good place and am content but not overly happy with my place in the company. A smaller competitor reached out for a vp position that is a huge step up responsibility wise. There would be a pay raise but not huge so money is not the motivator here. Is this crazy to seriously consider? I hate to burn bridges. I have been told I am on the partner fast track. Thoughts? Advice?

like

Hello! I am trying to lose belly and back fat in 30 days. Any suggestions for a reasonable workout routine? I don't want a 6 pack, just bathing suit ready. Thanks in advance!

like

Good morning ladies! I’m attempting to help a current sales analyst get into an outside sales position, and I’d like to give her some suggestions on various ways that she can network to meet people to help her land that position.
What are some of the outside-the-box ideas that you might have that would help her in her networking efforts?

Not very cash money

Post Photo
like

What are associates looking for either as 1st years or junior associate positions? My firm is looking to expand and take on one or two new associates but we aren't getting any applicants. Not sure how to spice up our job posting to entice more attention.

like

I really don't like open floor plans for offices. At least my company's poorly designed one...

like

Will you bail your son out of $27k bank loan with some of your retirement fund after he invests in a friends business that although you warned him not to he still went ahead to do so. Cont

like

Dear @EY Partners,
Whether non-equity Partnership (NEP) to Equity Partner movement not permitted ? Have been hearing a few news about certain recent updates. Kindly help with your input.

like

Hi. Any idea about the salary at Chanel ?

like

God, I miss my nice/peaceful commute home. Listening to a podcast in traffic was one of the highlights of my day

like

Kindly let me know if you are looking for job in any of these opportunities.

Post Photo
like

What kind of training do you receive as Instructional Coaches? Do you get a stipend?

like

When you meet your new coworkers and one seems as much a sociopath as you are

Post Photo
likefunny

Any news on hike.?

Additional Posts in Option Traders & Investing

Week of 11 Feb THREAD. BOL everyone! Feel free to post what trades you're planning to make this week. As always, screenshots are welcome.

Post Photo
like

Yi haww 🏇🚀

funnylike

My son 529 grows so slow... Any suggestions ? Which bank or state do you all use? Should I just invest for him in a roth at work ?

like

Does anyone know of a service that scans options in the US market - compares them against black Scholes and calls out options that are trading at a significant discount i.e 50 % discount. If not - I think I might build it. Let me know if you are interested in leveraging a similar tool and/or other functionality you would be interested in.

like

This is just a repeat of last March so we’ll all be rich again by summer

funnylikehelpful

ES reaches it's 2888.75 objective from the 2812 long on Friday morning. Usually, this is where it would turn, however, Wall Street needs it's fill up here too. And, the end of the channel is in sight.

Post Photo
like

Long term puts on an ETF like USO (e.g., December 2022). Given contango and how the etf works, wouldn’t this guarantee a strong return?

like

1/26 Thread (General):

like

Closed remaining ATVI position

like

9/9 Thread (General):

likehelpful

Wanted to start selling covered calls on T so I’ve been working on buying 100 shares. Just realized how inexpensive T options are 🤦🏽‍♀️ now I’m wondering if it’s even worth it? What stocks are better for covered calls.

likefunny

Sorry for the delay, was sick yesterday. And yes, when I say sick, I really mean hung over. Been a few years since that happened. Anyway, good luck. I personally don't see any plays this week.

Post Photo
like

Short Disney and Apple? Already holding Apple shorts.

like

Here's to all my shiny happy people holding options! Good luck and may the odds be ever in your favor! -oxo

Post Photo
like

anyone holding crsr calls before their earnings next week?

like

Is anyone on Fisker? Seems like there is huge upside here and a lot of catalysts coming up

like

Where can I find the IV on internet cat NFTs? Trying to update my option model spreadsheet but missing this data...

like

Thoughts on JETS puts with the pop from the stim bill?

like

Three observations from my market analysis this week:
1) Still work to do in repairing damaged trends with only energy and financials up over the last month
2) Technology has issues with rates, valuations, and supply chains for chips, so this could be heavy on the indexes
3) Setup for the week is concerning with OPEX, lots of data releases, and almost no IVOL premium - lots of event risk and limited hedging in place

like

I would like to buy my first options today. Currently I only own stocks and ETFs. Any recommendation for me?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal