Trading Options in the 21st Century

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?

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

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.

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Originally Posted by 4matic

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

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

Nah

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Originally Posted by mud

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

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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....

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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Quote:

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Originally Posted by mud

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

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#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.

Quote:

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Originally Posted by Cono Este

I don’t reccomend any retail investor trade options.

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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.

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

The rest US dollars

Quote:

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Originally Posted by digitaldeath

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

The rest US dollars

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That's your problem.

Quote:

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Originally Posted by mud

That's your problem.

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what is the problem?

tapatalk wouldnt let me post pic of folio

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.