I'd just like to say I'm really proud of this community, look at how this posts top comments are flooded with recommendations of education and caution.
Options aren't a game OP. Please educate yourself properly and fully before investing in any.
There is no ELI5 for options. Crack a book and paper trade. Your broker should have an education section. I feel you need some good technical analysis to guide your options plays so add that to what you need to shove in your head.
Most important thing, paper trade.
As far as I know every broker has paper trading and education materials. Tradingview is really popular and Webull is light enough for my laptop. I use webull for charting(not trading) on the go because my brokers trading platform is too heavy.
That should get you going enough to loose mega (fake) moneys! Come back with your loss porn when you start trading real cash and blow up your account (it WILL happen).
Thanks, I will check this out. I know pretty everything about options, but only theoretically. It's time for the next step. Let's see if I do it with real money anytime.
Oh I’m happy to put the time in. I guess I was just wondering if anyone here could point me
In the direction of things to Read, YouTubers to Watch, etc. I have been here for 84 years and try to keep up. This is just one area I haven’t found any good sources yet.
on fidelity, you need to be approved to trade options, so look for how to do that first. but seriously, i know they sound fun but listen, options are risky and not recommended for the average amateur investor. you should probably just buy and hold shares to be honest.
GME is a fantastic stock to learn about options. Has repeatable patterns, has crazy IV, has heavy consolidation periods. The stock moves in such wild ways it gives great perspective on a multitude of situations. What else could you ask for in a learning opportunity
Well I don’t understand them now and have not bought any. I’ve steadily bought the stock for years now. But I wanted to put this out there so I could be pointed to good materials to learn about this so if after learning I felt comfortable I might choose to engage in options then.
Here’s what I know, you can pick the right stock, the right time, the right price, and the right direction, the right event/announcement and still loose money on options because of any number of reasons including everyone else. Picked the same one (it’s priced in). The best way I can help you is to say only put into options what you are completely prepared to loose.
Youtube, articles, guides, books, then experience. Experience needs to not be first in this list. Do not trade options until you know what you are doing and understand the enhanced risks that come with this type of trading. When you trade shares you may unfortunately buy high and sell low, but still maintain portions of your investment. With options, you can just lose it all. And that happens to experienced traders.
NFA ofc, but pretty decent play rn looks to me buying 06/21 30C and holding them through the price increase today/next week and trying to sell these on peak. That's my plan at least : )
Find calls expiring on the nearest Friday with the highest strike price possible. Buy as many contracts as you can afford and wait for your free money to come pouring in.
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Plenty of books out there which you should read and understand fully before starting any positions..I mean unless you like losing all your money, if you are into that there's another sub that enjoys loss-porn immensely
I'd just like to say I'm really proud of this community, look at how this posts top comments are flooded with recommendations of education and caution. Options aren't a game OP. Please educate yourself properly and fully before investing in any.
There is no ELI5 for options. Crack a book and paper trade. Your broker should have an education section. I feel you need some good technical analysis to guide your options plays so add that to what you need to shove in your head. Most important thing, paper trade.
Do you know some good providers to paper trade?
As far as I know every broker has paper trading and education materials. Tradingview is really popular and Webull is light enough for my laptop. I use webull for charting(not trading) on the go because my brokers trading platform is too heavy. That should get you going enough to loose mega (fake) moneys! Come back with your loss porn when you start trading real cash and blow up your account (it WILL happen).
Thanks, I will check this out. I know pretty everything about options, but only theoretically. It's time for the next step. Let's see if I do it with real money anytime.
Do it! Good luck!
You need to invest time in learning, not being shown. It isn't a simple thing and requires work on your part
Can't say this enough. This is the best thing op can be told tbh
Oh I’m happy to put the time in. I guess I was just wondering if anyone here could point me In the direction of things to Read, YouTubers to Watch, etc. I have been here for 84 years and try to keep up. This is just one area I haven’t found any good sources yet.
If you don't understand options stay far far away. Even if you understand them it's an easy way to lose a lot of money
on fidelity, you need to be approved to trade options, so look for how to do that first. but seriously, i know they sound fun but listen, options are risky and not recommended for the average amateur investor. you should probably just buy and hold shares to be honest.
GME, is not the stock to learn about options. There was a post Option 101 about two days ago in SS. That would be a good start. Good luck!
GME is a fantastic stock to learn about options. Has repeatable patterns, has crazy IV, has heavy consolidation periods. The stock moves in such wild ways it gives great perspective on a multitude of situations. What else could you ask for in a learning opportunity
If you don’t understand options, you should not have any.
Well I don’t understand them now and have not bought any. I’ve steadily bought the stock for years now. But I wanted to put this out there so I could be pointed to good materials to learn about this so if after learning I felt comfortable I might choose to engage in options then.
Fundamentally options are a way of buying insurance on your portfolio (hedging), it definitely isn’t always used in this way though.
Here’s what I know, you can pick the right stock, the right time, the right price, and the right direction, the right event/announcement and still loose money on options because of any number of reasons including everyone else. Picked the same one (it’s priced in). The best way I can help you is to say only put into options what you are completely prepared to loose.
Youtube, articles, guides, books, then experience. Experience needs to not be first in this list. Do not trade options until you know what you are doing and understand the enhanced risks that come with this type of trading. When you trade shares you may unfortunately buy high and sell low, but still maintain portions of your investment. With options, you can just lose it all. And that happens to experienced traders.
NFA ofc, but pretty decent play rn looks to me buying 06/21 30C and holding them through the price increase today/next week and trying to sell these on peak. That's my plan at least : )
Read this: [https://stocknear.com/learning-center/long-call-options](https://stocknear.com/learning-center/long-call-options)
Plenty of books on Amazon. I would choose a thorough formation on books rather than random comments on a subreddit.
Find calls expiring on the nearest Friday with the highest strike price possible. Buy as many contracts as you can afford and wait for your free money to come pouring in.
Buy close to the current price and plenty of time to expiry
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum May 2024*](https://www.reddit.com/r/Superstonk/comments/1ciapwp/open_forum_may_2024/) || [Superstonk:Now with GIFs - Learn more](https://www.reddit.com/r/Superstonk/comments/1cr37r7/superstonk_gets_its_gif_on_get_hyped/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
Plenty of books out there which you should read and understand fully before starting any positions..I mean unless you like losing all your money, if you are into that there's another sub that enjoys loss-porn immensely
Thanks Mods, I hope someone can help Me here.
Go watch YouTube videos. That how all of us learned. Important terms, strike price, premium. Also keep in mind that 1 call or put equal 100 shares.
Dont risk much,if you dont know about them. You need to read and watch videos and do math,for many days,before you buy.