What are Options?
Options are contracts that grant the right, but not the obligation to buy or sell an underlying asset, such a stock at a set price on or before a certain date. There are two types of options; calls and puts. You buy a call when you believe the price of a stock will go higher and you buy a put when you believe the price of a stock will go lower. There is more to it besides this simple definition. Learn how I went from $4000 to $50,000 trading stock options today!
How do I learn more in-depth about options?
Do I need a degree /certification to trade options?
The answer to this frequently asked question is NO! You do not need a degree at all to trade options. If you have ever read the book, Think and Grow Rich, you will remember that it talks about having specialized knowledge and a burning desire. Well, if you have the burning desire to learn, you will gain that specialized knowledge and be able to have tremendous returns on your trades. All the information is out there; all what one has to do is study and apply it! Knowledge isn't power, but the application of that knowledge is indeed power.
How do I get started with options?
Before even thinking about trading options, one must be fully equipped with the knowledge and expertise, as options are risky instruments and one can loose their money in a flash. However, once there is a base understanding of options, one can open up a brokerage account that would allow them to participate in the stock market. There are different types of brokerage accounts, ones that charge you a commission to trade and ones that do not. All brokerages have their various requirements, but the one that I use is Robinhood. Robinhood is very easy to use and you can start trading with 24-72 hours after opening up your account. The other great thing about Robinhood, is that it is commission free. For example, to buy a security like stocks or options, you do not have to pay an additional fee.
The brokerage that I use to trade options is Robinhood. Robinhood is a very intuitive platform for the beginner who is starting out. To start trading options, you can open up a Robinhood account here.
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