Trading Options in the 21st Century

[mud]

So back in the day you needed to prove income/liquid assets > $100k, have experience trading options plus have a spare $25k to enter the game. Now with Robinhood and Tastyworks you don't need to prove anyhing but a bank account.

Most of my nuts are split between Fidelity-Vanguard accounts doing their thing. I thought about opening an IB account a few years ago when I first got interested in options but ended up using the money elsewhere.

RH approved me for option trading last month with nothing more but a few thousand in the account swing trading tech stocks. RH sucks for research but that doesn't matter since it's just a trading platform. I have Fidelity, Tradingview and Finviz to geek out on but feel like I'm missing out on other avenues of research.

Anybody else into this shit?

[4matic]

What is your goal? Directional trade? Income capture? Risk mgt? Very complicated.

[mud]

Yeah I have a good understanding of the fundamentals but with Cheeto Benito in DC tweeting out volitality all logical thought jumps out the window. I'm not sure if a trade war is real or its just spin to get the Stormy rawdog story off the front pages.

[mud]

What is your goal? Directional trade? Income capture? Risk mgt? Very complicated.

Goals?
1. Not lose money
2. Learn how to do this shit.
3. Profit?

[Bromontana]

Nah

[4matic]

Goals?
1. Not lose money
2. Learn how to do this shit.
3. Profit?

Suggest reading Peter Brandt twitter feed for important lessons on money management.

https://mobile.twitter.com/PeterLBrandt

Options are way way too much math for me. Sellers make money....

[Cono Este]

When I started making markets on the floor in 95, you could lease a seat and fund a decent set of positions with 100k. Now it’s 2mm. Minimum.

I don’t reccomend any retail investor trade options. Unless your just writing calls against stock.


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[Timberridge]

Goals?
1. Not lose money
2. Learn how to do this shit.
3. Profit?

#2 seems very doable, #3 and #1 can be elusive.
And one other thing, don't buy a shitload of near term options in your grandmothers Fido account right before a corporate merger. It raises eyebrows.

That's all the advice I have.

[mud]

I don’t reccomend any retail investor trade options.

Yeah I agree in a way, the chance to get screwed over is high but the opportunity to start small like this seems like a good use of time.

[digitaldeath]

Here’s my slush money on Robinhood. More twtr shares in other broker

The rest US dollars

[mud]

Here’s my slush money on Robinhood. More twtr shares in other broker

The rest US dollars

That's your problem.

[digitaldeath]

That's your problem.

what is the problem?

tapatalk wouldnt let me post pic of folio

[Kootenai]

I've been playing around with options for the last 3 years. For me, it has been a zero sum game at best. Seems with every profit, I am taking a loss elsewhere. The game is rigged and the retailer is not privy to the moves. I have found think or swim has the best platform and I use that for credit / debit spreads. And I use tasty trade for day and swing trades in a non-margin cash account so I don't get dinged with the PDT rule.
If you wanna learn, I would definitely play with a paper money account before putting the big dollars down. That is the advice I was given, that I promptly ignored. .....and then continued to watch my hard-earned money go down the tubes.
You may do best just buying and selling stocks and not dealing with the complexities of theta burn, but I get the allure of what seems like easy money.