"GeorgeyBoy" (georgeyboy) 02/16/2015 at 13:34 • Filed to: None

0

13

Does anyone trade options on here?

For Sweden > GeorgeyBoy 02/16/2015 at 13:36

4

By trade options you mean sell cocaine, right?

horspowr1001 > GeorgeyBoy 02/16/2015 at 13:37

1

I trade stocks and funds, but haven't ever messed with options, not sure why really. Hopefully Brt will chime in, I know he's pretty involved with the market.

IDROVEAPICKUPTRUCK > GeorgeyBoy 02/16/2015 at 13:39

0

Ive traded options a few timea. Made some money a couple times and lost my shirt other times. In both cases it was extrememly stressful and not really my cup of tea.

SidewaysOnDirt still misses Bowie > GeorgeyBoy 02/16/2015 at 13:43

1

I trade, but not options. I'm not a fan of playing with money that isn't my own.

GeorgeyBoy > IDROVEAPICKUPTRUCK 02/16/2015 at 13:45

0

Seems like everyone has a horror story of some sort. I'm still learning. Not sure if it was recently for you, what platform did you use?

Yossarian > For Sweden 02/16/2015 at 13:49

1

He said options, so cocaine, ecstasy, heroin, etc.

IDROVEAPICKUPTRUCK > GeorgeyBoy 02/16/2015 at 13:50

1

Nothing special, just bought them through my Schwab brokerage account. In my mind the only reason to buy options is if there is an specific event happening in the future at a set date that will shift the stock price and you want to be on the outcome of that event. Otherwise its just gambling to me

GeorgeyBoy > IDROVEAPICKUPTRUCK 02/16/2015 at 14:06

0

I've always liked timing the market even though it's really not that important for me. Did you have any trouble watching your positions? I've been with rj from the beginning and they offer zero tools. I'm close with my advisor but still.

IDROVEAPICKUPTRUCK > GeorgeyBoy 02/16/2015 at 14:35

0

I mean option values move in lockstep with the underlying stock price. It wasn't hard to watch the values. I had to get approved by Schwab to trade the options

GeorgeyBoy > IDROVEAPICKUPTRUCK 02/16/2015 at 14:46

0

I guess I meant when you do certain strategies. I'm assuming I'm approved my broker never mentioned anything, only that there's no transaction fees.

IDROVEAPICKUPTRUCK > GeorgeyBoy 02/16/2015 at 14:48

1

I would check on that, normally there is a specific process you need to go through to get approved where they read a bunch of stuff to you to make sure you know that you can lose your shirt

horspowr1001 > GeorgeyBoy 02/17/2015 at 10:16

1

There are a couple tips I've read so far that will weigh on both sides of your decision:

1) At least with my Schwab account, your account needs to be margin approved and maintain some level of cash in order to trade options. Keep in mind that when you're buying stock, the most you can lose is 100% of the value, but as soon as you dip into margin trading, you can lose a hell of a lot more (but of course make more too).

2) You could start playing with options as hedging strategies. For example if you were to invest in something as volatile as oil right now, you could consider buying some shares of a beat-down oil company. Then purchase a put option to limit your downside risk.

GeorgeyBoy > horspowr1001 02/17/2015 at 15:48

0

Good points. That was my plan to begin with, at least until I feel comfortable.