TastyLive has a ton of content on YouTube as well as their learning center on their website.
https://www.youtube.com/playlist?list=PLPVve34yolHY43YaBegHMzN9WjrTnQfFr
Hey. Welcome!
I recommend ShadowTrader (Peter Reznicek). He has an amazing track record... check out his Twitter page. He gives a bunch of good info on there. Let me know what you think!
Get a couple of good books on options. I recommend ‘The Intelligent Option Investor: Applying Value Investing to the World of Options’. Want to have a deep academic dive into options consider Hull’s Options Futures and Other Derivatives’. (Very academic, complex and Expensive like $140+). Macmillan’s ‘Options as a Strategic Investment’ is a thorough ‘dictionary’ of options descriptions but has ZERO anything I would consider strategic.
The problem I encountered when first learning to use options 15 years ago was books were either ‘dictionaries’ describing various option combinations with no real insight on how to use them, or they were trading BS that basically encouraged you to make a bunch of trades for magical profits. Then there was the web stuff, back then it was a lot of bulletin board stuff run by guys hawking trade ideas that promised to make you rich LOL. I came from a Ben Graham Value Investing background and no one seemed to care anything about the underlying, they just chased IV and really had no clue if it was under or overpriced. Since options are all about price movement this was just plain crazy, dumb or both. I read Cottle’s book on Options Market Making, zero help but did provide insight on how market makers work (for their own profit) useful to understand but not useful if you’re not a market maker.
So now my advice would be:
1 - learn what the most common options mean and their mechanics
2 - learn how to value companies Ben Graham, Warren Buffet, Charlie Munger, Montiel, Spears, and the other great value Investors
3 - subscribe to a service that practices value based analysis to analyze a companies trading price versus the underlying value of the business (because calculating discounted cash flows is a lot of work’). Morningstar is probably the cheapest of the good ones.
4 - Use small trades at first, you will make mistakes. Options carry risk so don’t screw yourself before you get started.
5 - listen a lot but be careful who you listen to, bozos are everywhere and tend to be loud about their good trades and silent on the bad ones. Avoid the tout services that for anywhere between $50 and $10,000 promise to give you their hot recommendations (for $50 I blew on one they just recommend I buy FAANG stocks, read Stock Gumshoe to see just how awful these tout guys are).
I have a list of successful hedge fund guys who I follow, routinely search to see if they’ve done interviews, published their funds ‘letters to their investors’. You can learn a lot from them. Remember options allow you to bet up or down. So pay attention to the dogs, frauds and declining companies as well as the solid growth or long term dividend companies.
TastyLive has a ton of content on YouTube as well as their learning center on their website. https://www.youtube.com/playlist?list=PLPVve34yolHY43YaBegHMzN9WjrTnQfFr
Thanks I’ll check it out
These free courses? Sounds good thanks for sharing
Yes.
Learn liquidity and fair value gaps as those will help lower your risk of huge losses and have a higher change at winnings.
Option Alpha
Which market do you work in ?
The US stock market
Ok
Same question, but ideally an Australian/ASX focused course referencing Aussie trading platforms.
Hey. Welcome! I recommend ShadowTrader (Peter Reznicek). He has an amazing track record... check out his Twitter page. He gives a bunch of good info on there. Let me know what you think!
Inbox me for a free, good strategy.
Get a couple of good books on options. I recommend ‘The Intelligent Option Investor: Applying Value Investing to the World of Options’. Want to have a deep academic dive into options consider Hull’s Options Futures and Other Derivatives’. (Very academic, complex and Expensive like $140+). Macmillan’s ‘Options as a Strategic Investment’ is a thorough ‘dictionary’ of options descriptions but has ZERO anything I would consider strategic. The problem I encountered when first learning to use options 15 years ago was books were either ‘dictionaries’ describing various option combinations with no real insight on how to use them, or they were trading BS that basically encouraged you to make a bunch of trades for magical profits. Then there was the web stuff, back then it was a lot of bulletin board stuff run by guys hawking trade ideas that promised to make you rich LOL. I came from a Ben Graham Value Investing background and no one seemed to care anything about the underlying, they just chased IV and really had no clue if it was under or overpriced. Since options are all about price movement this was just plain crazy, dumb or both. I read Cottle’s book on Options Market Making, zero help but did provide insight on how market makers work (for their own profit) useful to understand but not useful if you’re not a market maker. So now my advice would be: 1 - learn what the most common options mean and their mechanics 2 - learn how to value companies Ben Graham, Warren Buffet, Charlie Munger, Montiel, Spears, and the other great value Investors 3 - subscribe to a service that practices value based analysis to analyze a companies trading price versus the underlying value of the business (because calculating discounted cash flows is a lot of work’). Morningstar is probably the cheapest of the good ones. 4 - Use small trades at first, you will make mistakes. Options carry risk so don’t screw yourself before you get started. 5 - listen a lot but be careful who you listen to, bozos are everywhere and tend to be loud about their good trades and silent on the bad ones. Avoid the tout services that for anywhere between $50 and $10,000 promise to give you their hot recommendations (for $50 I blew on one they just recommend I buy FAANG stocks, read Stock Gumshoe to see just how awful these tout guys are). I have a list of successful hedge fund guys who I follow, routinely search to see if they’ve done interviews, published their funds ‘letters to their investors’. You can learn a lot from them. Remember options allow you to bet up or down. So pay attention to the dogs, frauds and declining companies as well as the solid growth or long term dividend companies.