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Options Trading: Earn a Living Trading Options – Video 8

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I had to wait about 15 minutes or so and then I simply locked in my profits as I showed you on the Qs last week.  What I did was I combined both my Q position and my IWM position into the profit graph here on this analyze tab.  It shows you that I have both the IWM and the Q positions on the three-legged box and basically this is where we are right now.

The live price is $75.47 which is right in here.  Remember that the green line is our expiration and the white line is our current price.  What I’ve done is I’ve locked in a profit.  I have an open profit of $554 on this position.  But what exactly has this combined position of the Qs and the IWM ETF done for me?   Well what it’s done, really,is given me not only a guaranteed profit of $478 at expiration,even if it doesn’t move,but it also has given me unlimited upside potential and unlimited downside potential.  As you can see.I can’t lose money on this position.  It’s impossible.  It just can’t happen.  I’ve locked in my profits so if the market just stays the same well I’ve got $554 open profit.  I’m guaranteed a profit of $478 at expiration.

Now remember that we’re only using a few contracts.  This is just fordemonstration.  I’m showing how you can make money even with smallamounts of contracts.  If I was doing ten times as many contracts, obviously I’d have a guaranteed profit of $5,000.  I mean it doesn’t get any easier than this.

The upside to this and the real potential these types of three-legged box in locking the box positions is that not only are you guaranteed a profit if the market doesn’t do anything,but if it starts to go up dramatically or if it starts to drop dramatically, it doesn’t matter.  The market can go up or down and you can make an unlimited amount of money.  Here’s the profit area.  Your zero line is down here.  You have nothing but profit whether it goes down or it goes up.

So that’s the power of thekind of trading that we do.  You try to hedge your positions asmuch as possible.  You try to manage the risk.  We manage these risks by the numbers.  So in other words, when we first put on our IWMposition, we looked specifically at the delta.  I wanted to be long a certain amount of delta because based on the analysis that we doon a regular basis, and you see those in the technical analysis modules, we knew the market was going to go up today.  Just like we knew it was goingto go down earlier in the week on Monday and Tuesday.  Today is June 5.  We knew over the weekend that the market was going to decline.

Wetook a position that gave us an opportunity to lock in these profits.  So we locked in the profits on the downside and we knew the market was going up.  Now we’ve locked in our profits on the upside and it doesn’t matterwhere it goes because we’re guaranteed a profit.

I have never seen anybody else explain this concept in 20 years of trading and going to all of the seminars and the marketing stuff that these people put out.  This is a pretty dynamic way to trade because you can’t lose money at this point.  You have no other costs.  You initiated the positions.  You have no other costs at all because all of these are June expiration contracts and in the next week-and-a-half they are going to expire and you are guaranteed at least the $500 profit.  And remember, as I said we’re only doing small contracts.

So that’s how you trade with confidence.

This is the kind of information that you aren’t going to find anywhere else.  As we go through these types of trades in the future, especially after we get through Module 11, you are going to see the dynamics of how to lock in profits on just about any kind of position that you have.  And not only lock in profits butgive you unlimited upside or downside potential.

So that’s it for today, guys.  Hey, trade with confidence

 

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Index Options: Earn a Living Trading Options – Video 6

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Good morning tradeologists.

Today is Monday, May 12, and we’re going to take a quick look at our trades for today.  Now we’re going into expiration week and, as I mentioned, we had a little insurance policy on the QQQs just in case we got a big drop in the markets over the weekend.  It cost us $65 but that’s cheap insurance because we’re already up over $140 for today.  We have an open profit of $935 dollars.  Let’s take a quick look at our analyze tab.  That $65insurance was well worth it because we made up more than that just in the profit today as we open and it really didn’t cost us anything at all and the insurance was very, very good for us.

So here we are today.  Like I said, we’re up $135.  We are moving back towards the center very nicely on our position.  We are going to keep a close eye on this position.  Of course we are in expiration week and I normally like to get out earlier.  However,we are going to try and squeeze every little bit of profit out of our positions as possible.

We have the positions on the DIA, the EEMs, the IWM, and the SPY.  We want to take a quick look at the VIX.  Let’s take a look at where we are.  We went up here a little bit.  If you can take a look down here in thecorner, we’ve been dropping significantly.  Well, I didn’t know for sure but I thought possibly we could  jump up here and retest this level around $21.50 or $22.00 and that didn’t happen this morningso that’s why we closed out our insurance.  We bought the QQQs as insurance and we closed those out early this morning when we saw that, in fact, the market was not going to drop like a rock and retest those VIX levels so we’re falling back down again.  I think we’re going to retest these 18 levels so we should be up for the day.

We’ll see exactly and keep monitoring our position but at this time we don’t really have to do anything as long as we stay to the upside.  We’ve got plenty of room to move to the upside here and we’re going to continue to make a profit on this position today.  We should be close to $1,000 in open profit.  Now remember we’re only trading one or two contracts so this is a pretty good profit and all we have to do is just be patient and wait.  This white line here which is our current profit and loss position is joining the expiration green line here which is only 5 days away.

Let’s take a look at our monitor tab or our trade tab and we can see there’s only four trading days left in this position.  Ideally we’d like to be at the center and all of our positions would expire absolutely worthless and that will give us the maximum profit.  So we just have to sit back, relax and just monitor.

Normally during a trade when you’reputting on trades 30 to 40 days ahead of time, you don’t really have to be that concerned with the day-to-day market fluctuations but as we get closer to expiration that’s where you really want to pay attention to your position.  So that’s what we’re going to do if you want to extract as much profit as possible.  However, I do not recommend holding positions into expiration week.  Price is the biggest risk during expiration week.

Let’s take a quick look at our monitor tab for a second and take a look at our numbers.  Our delta is a very nice little positive 94, our gamma is  190, and all gamma really means is that it’s the amount that the delta is going to change based on the overall position.  Theta has increased to a nice $129 a day.

So going into expiration week we should expect to collect another $128 every single day that we’re in expiration.  Our vega is at 121and that’s a positive number, meaningthat if the vega goes up we will increase our profits by $121.  However, given that delta is also a positive number they kind of neutralize each other there.  So what we want to do in our current profitable open is 925and we want to just take a look atour analyze tab for a second.  As long as we can continue to move up, where the Dow Jones is right now up about 30 points, we will be doing very, very nicely. We’re going to keep an eye on the market very closely.

We want to be able to stay in the center position and I think we’re going to be in really good shape to extract some moreprofit.  Now let’s take a quick look.  We are here and we’ve got $934 of profit in the position and if we go to expiration we’ll have about$1,800 if we stay stable as far as price goes.  So we’ve got another $900 in profit that we could extract from this position and we’re going to try to hang in there as long as we possibly can.  I mean I don’t want to get too greedy but we’re at 50 percent profit here.  We’re also up about 30 percent on our margin because our margin is $3,600.  We’ve got $900 profit on $3,600 of margin.  That’s a 30 percent return on margin so we’re doing really, really well.

Price doesn’t seem to be too much of a risk right now so we’re going to hang in there.  If things start to get a little bit more volatile, we’ll probably close out this position.  You know 30 percent return on margin is pretty awesome.  We’ve only been in theposition for about four weeks now so that’s a great monthly return.

All right tradeologists, hey trade withconfidence.

 

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Intrinsic Value of an Option: Earn a Living Trading Options – Video 3 Part 2

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As we get closer to the third Friday of May,the chances of that stock moving above the strike price of $27.50 becomes less and less certain, and because of that the option has less value to it.

If you take a look at an optionlike this overtime, let’s say that the stock doesn’t really move.  Maybe in a week from now,this option will be selling for 20 cents bidand 35 cents ask; a week after that it’s 15 cents and 20 cents or 25 cents.  The week after that maybe it’s 5 cents and 10 cents.  So eventually the option that you purchased at 40 cents with great hope that the stock was going to move upis now only worth about 10 cents.  You’ve lost 30 cents on the trade.

Well that’s exactly what the person who sold it to you is hoping would happen.  That in fact, the stock did not go up in price.  That you purchased this option that they know is going to expire and will eventually erode in value over time.  That’s how they make their profit because they sold it to you at 40 cents; they can buy it back at 10 cents; and make 30 cents on that trade.

What about the guy who purchased the put option?  Theoption that gives him the right to sell the stock at $27.50 and hoping that it would go down so he could buy it back at $22.50.  If he could buy it at $22.50 and sell it at $27.50, he’s made a $5 profit.  And that’s what his hope is.

Now if the stock doesn’t do anything at all, the same exact thing is going to happen to his put option.  Eventually over time, because the actual probability that the stock is going to decline in price decreases as these options get closer to expiration.  Then this option will be worth less and less each week.  Let’s say next week at this time if the stock does not move then this option will only be worth maybe 45 cents to 65 cents.  Another week passes by and it’s only worth 35 cents to 45 cents.  Now another week passes by and it’s only 25 cents.  As long as the stock does not move, all of these options will continue to decline in price if they have extrinsic value.

Now the prices of theseoptions are called “in the money” options.  In the money options have some component of what they call extrinsic value and some component of intrinsic value.  The way that you can determine intrinsic and extrinsic value is simply by taking the strike price of the option, in this case we’re taking a look at the May 20 calls, and their price is $7.40.  On these 20 calls, if you add the strike price to the price of the call, you get $27.40.  At the mid-price you’re probably talking closer to $27.25, which is exactly the price of our current stock.  So you can say that this call option has no intrinsic value. In fact, if we look under the extrinsic value, you can see that it is actually zero.

The closer you get to “in the money” or the actual strike price of the stock, you can see that there is, in fact, some extrinsic value left.  There is some time value left in that option and that time value is basically saying that “hey you know what, we do have three or four weeks before expiration” so the price of the option may actually increase to the point where it might be actually further in the money.

What is our objective, though?

This is just a very brief.  You should already have a basic understanding of options.  I probably haven’t told you anything new.  Or maybe I have, I don’t know; but that depends on your experience.  The important thing to remember, though,is that when we trade for monthly income the stock cannot be in two places at one time.  At expiration we’re going to make money on one side or the other.  That’s an important distinction tomake because we make money whether the stock goes up or goes down.

Now the types of vehicles that we use in order to trade options on the exchanges are normally going to be,and I’ll go through all those with you in the next series herein portfolio building.  What we’re going to be using are(proprietary information edited out) adjustments.  Adjustments are everything because as I said, prices fluctuate.  That is oneinviolate rule of the market:  prices will fluctuate.  We don’t care if they go up or down but they do fluctuate.

There are a couple of rules to the option markets and that’s the two I’ve already told you.  The third one is don’t lose money.  So, the rules are:  prices fluctuate,options expire at a date in the future, and don’t lose money.

In order not to lose money, many times we have to do adjustments to our original positions.  This is where a lot of option players make a mistake.  They do not adjust their positions.  They put a position on and they believe that they can just keep it on there until expiration.  Well, they forgot about the other rule of the market and that is prices will fluctuate.  Options expire but they also fluctuate so if you get into a position, and a lot of option players do this, they just put positions on and they forget about them.  They don’t even look at them until they have a loss and then it’s too late to do anytype of adjustment to that position because they are already too far gone.

Our goal is to monitor your positions.  You put these positions on and then we will show you exactly what you need to do in order to adjust the positions.  That’s where the majority of the real profits come in this business.  What happens to a business when it’s not making money all of a sudden?

Well, just like this, if we’re not making money, then we have to take a look at the source of the problem and adjust our strategy in order to take advantage of new market conditions.  That’s exactly what any business has to do.  Any businessthatis not in a profitable position has to take a look at their business model and that’s exactly what we do in our business of trading.  That’s why it really is a business because we manage by numbers and that’s what all good big businesses do.  They manage by numbers.

This is an aggregate position ofour demonstration account for the purpose of these videos.  You will see this throughout all the videos that we’re creatingon this strategy.  We start out in a cash position,but I also want to show you what the profit potential of having more contracts is.  Eventually as you get experience in this type of trading as a business, you’re going to be able to have a great deal of confidence in your ability to adjust trades over time.

I suggest that you begin with paper trading.  Now the thinkorswim platform has a papertrading account that you can set up for free.  It looks identical to this.  The only thing that is differentis if you look up in this top left hand corner, this is a live trading account.  It has a red symbol here with the thinkorswim symbol and logo.

If you have a paper trading accountopen, this is a green symbol but the platform is absolutely identical.  Everything is exactly the same.  You can enter trades, you can adjust trades, you can look at charts, and you can monitor your account.  You can do everything that you can in the paper trading account with thinkorswim, as you can in this account.

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Index Option: Earn a Living Trading Options – Video 2

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Let’s go back to our trade position here and see what we’re doing. It’s still working and we haven’t gotten filled yet and it’s been about five minutes now so what I’m going to do is I’m going to raise this up to 16 cents and see if we can’t get out at 16 cents. We’ve got$305 of profit open on this and so we’ll capture that $305 as soon as we get out of this position. We made $40 just today on this position. Let’s try 17. So, youdon’t mind giving up a little bit of profit.

We started out at 15 cents. This is a good lesson. Like this morning I had no problem getting out at the price that I wanted which was really I think a penny off the mid-price. Here we had to go up two cents. We got out at17 cents. Westarted out at 15 cents as you can see down here. It went to 16 and then ended up gettingfilled at 17. When you have90 percent of your profit you can afford to give up a few pennies. It doesn’treally matter that much.

At this point what I wanted to do was I wanted to pair those positions down. You can see now on the April positions. I’ve got my SPY positions off. I’m not in the April position anymore and that’s the way I want it. I want out of that seven-day position because the closer you get to expiration there’s all kinds of weird things that can happen, especially gamma risk. If the market happened to get to one of our strike prices,then we get some weird stuff going on. I’m going to take my profit at 90 percent.

So we’re out of the SPY. If we take a look at our portfolio nowthe only thing we have left on there is the EEM’s and the EEM’s are looking pretty good. I’m not too worried about them. Because we do build portfolios we had a lot of different positions on here. Let me just refresh your memory.

We had a SPY positionand that’s gone. We had an IWM this morning and we took that off and we still have the EEM. And the DIA we took off this morning as well. So all those other positions are gone and the only one we have left isthis one. This one still shows some profit potential here. We can still move down on this quite a bitand still be in a profitable position. Our current profit on this is $138; with one contract.

Remember I’m talking small contracts. Imagine if we had 10 contracts. Now we’re up $1,300. If we had 20 contracts we’d be up $2,300 just on this one position. I mean how much money do you want to make? That is the only question. Once you learn how to build your portfolio and manage these positions, it’s only a matter of size.

Now this position, because the marketis falling, we’re now down 237 points. When we started out, we were down about 200 points. Now we’re down almost 240. This could go down a little bit more and we’d beeven in a better position. We made about $30 today. We have 136 open but let’s see where the expiration is. The expiration is $351 so we’ve got a couple hundred dollars of profit still in this position that we could take out of it if we hung in there just a little bit more.

Since I do not like to predict price, I only want to manage a portfolio based on numbers. Then you know what, I’ve got upside, I’ve got downside and it doesn’t matter if the market goes up or down from this point, I’m going to be in a profitable position. So I’ve got room to let this ride a little bit and I may do that just to grab a little bit more profit out of this position. So we’re going to leave this fornow but this is how you close out profitable positions. If we ever get into a losing position, I’ll do a video on that, too, so you may find one on your CD.

This is how you trade with confidence because it doesn’t matter if the market goes up or down. What you always want to take a look at is where your current profitable position is and that’s this white line here. Your expiration position is this greenline here. When you hover your mouse over your current position and live price, you can tell what the difference is between your current position and the profit potential that you have availableleft in this position, which is about $200. We’re going to hang in there I think a little bit more because we have room to breathe and this is the last position in our portfolio that we haven’t closed out yet.

 

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Option Trading: Earn a Living Trading Options – Preview Video

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Welcome to the art and science of trading as a business!

The objective of the program is to generate money every month. We really want to have a monthly income stream and, in order to generate a monthly income stream, we are going to be using options as our primary trading vehicle. What we want to do here is show you how it’s possible to make a monthly income and build wealth at the same time on very small positions.

As you take a look down here, you can see we only have one contract. But, just to show you what the profit potential is, on one or two contracts, we’ve only got $1,000 of margin up right now and we’re making $407. That’s a 40% return on investment, on margin, return on margin, in just the last two weeks.

When you’re trading with confidence, it doesn’t matter what the market does. As you can see from my position here, I’m right in the sweet spot and the market is down. If you take a look over here, the Dow is down 190 points and my position is beautiful. Right in the center here is where all the profit is made. The market could go down another 200 points and I would still be ok. It could go up 200 points and I would be okay.

You know, that’s why these kinds of positions are so powerful. Because you’ve got a wide range that the market can move in, it doesn’t matter if it moves up or down, and you’re going to be in a profitable position. I’ve got one contract here and I’m making $400 in two weeks. If I had ten contracts, I’d be making $4,000 in two weeks. If I had 20 contracts, I’d be making $8,000 in two weeks.

How much money do you want to make? That’s the only question. And the only way that you can make this kind of money in the market is by learning how to structure your positions, how to manage them on a portfolio basis, and how to adjust them when necessary. You never have to get hurt and if you want to make money, this is the only way I have found to make reliable monthly income from the markets and build wealth over the long term.

I mean this is the kind of stuff that you can hand down to your grandchildren and it will still work for them as well as it works for you. This is the kind of stuff you can hand down, it is something that is so secret that only market-makers who are extremely successful have ever learned about these markets.

This is the kind of stuff that would go into a vault; make personal copies for yourself and put them in a safety deposit box at your bank. Believe me, your children and your grandchildren and their grandchildren are going to profit from these strategies. The same strategies that you can profit from now, they are going to be able to profit from 20, 40, 100 years from now because these will never change. I would say less than 1% of all traders even know how to do this.

The market-makers have been doing this for years and now it’s possible for retail customers like us to be able to take advantage of this. But retail customers in general are not going to even understand these types of positions. They think price is the only way to profit from the markets. You know, prices going up, prices going down. I buy puts it it’s going down, I buy calls if it’s going up. I buy stock if it’s going up, I buy short-stock if it’s going down. But price is not the only way to profit from the markets. In fact, it is probably the least effective way to profit from the market.

The kind of positions that we are talking about here are the kind of positions that you can put on that don’t take all of your time. You can put them on, you can let them go, and you can adjust them as necessary and make a great monthly income from them and build wealth out of them. And there are very few people I would say, very very few people who understand this and can teach it. So that’s my goal.

My goal is to provide you with the very very best training; the very best tools; the very best understanding of building these type of portfolio positions, managing them and adjusting them as necessary so that you can draw that monthly income, build wealth, and trade with confidence.

 

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Options Greeks: Earn a Living Trading Options – Video 1 Part 4

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So adjustments are absolutely critical. It’s very very important for you understand how to do adjustments in your positions and we don’t do just one-dimensional type of positions. We do multi-dimensionalpositions so that we profit and it doesn’t matter whether the stocks go up or down. But adjustments are really the big picture because nobody teaches it.They teach you how to put on these one types of positions either spreads, calls, puts, or whatever and that’s it. If they don’t work out you take a loss and if they work out you make alittle bit of profit. But I don’t think that’s a great way to trade.

I did that for years and you know I had 50/50success. Some months I made money and some months I didn’t make money. You have to have some market direction. If they don’t work out you get killed and if they do work out, you make a little bit of profit and that’s not a business, that’s a gamble. This is a business; managing our portfolio by the numbers. We know how much profit we’re going to make every month.

Then I go into closing our positions; our profit andloss. Let’s take a look at our profit and loss closing positions. This is absolutely critical because what we want to do is close out thepositions at the right timeand this is where you want to take a look at this picture again. You want to analyze your picture because when you get close to expiration that white line moves allthe way up here and it’s very close to your expiration full profit. You know that if your position is looking really good and it’s in the center, you might want to hold it another day or two just to see how prices go.

In general once you get to the point where you’ve got a substantial profit in these positions, you know you can close them out. It’s not going to hurt. You know you can still make a profit and you don’t have to be in a hurry about closing out your positions, which is nice. You have so much room to move in price on a daily basis that it’s not going to hurt you if you don’t close out your position one day. Say you got busy with something and you want to close it out but you forgot or you didn’t get the price you wanted or something like that. You can afford to be patient with these positions. It’s not like day trading where every little tick counts. In this type of trading, you’re putting on positions and you don’t have to settle for market prices. In fact, I don’tsuggest you settle for market prices.

The nice thing about the thinkorswimplatform is it allows you to get in at the mid-prices many times. It depends on the market, of course,but you can get into the mid-prices and if you can’t get in the mid-prices, then you can move up here little bit by little bit. The money that you save from trying to get mid-prices really helps pay for all the commissions that you’ll be generating. Now the commissions are very reasonable on thinkorswim so I don’t even want you to consider that because these positionspay for themselves and make a great profit. So commissions are really not a major component of your expenses,but they are an expense and that’s the only expense that you have in this type of business. That’s your overhead. Your commissions and that’s it. I think they charge $1.50 for anoption trade. I mean a couple of options are going to cost you $3; one option will cost $1.50 so it’s not a big amount of money but it is overhead that you have to pay.

So closing out the positions is the next videos set that I do and it’s very important that you understand how to close out your positions. You’re not in any hurry. You’re not day trading. You can actually take your time, close out your positions, and make sure you do them in the right way to collect your profits andmove onto the nexttrade.

Then finally we go to the big picture. I take a look at some technical analysis stuff. I have a proprietary technical analysis tool that I use to determine how the market will open every single day and it’s been right 95% of the time. It’s very close to being right almost all of the time. It’s very interesting because a lot of times the futures will trade before the option stockmarket open. I remember recently that the futures on the S&P 500 were down like $9 which is a pretty big down movement before the open and everybody expected the market to open way down for that day. My proprietary indicator indicated that it was going to be a flat open, in fact it might be alittle bit up and it did. It opened basically down about 5 points and then the Dow Jones Industrial startedgoing up 20-30 points so it’s a very interesting indicator to use. It’s a proprietary indicator that I came up withand I’m going to give that to you absolutely free as well.

I also talk a lot about the VIX and if you don’t know anything about the VIX don’t worry about it right now, but it’s a very important tool for stock trading and especially for our types of positions. It’s probably one of the most important tools that you can use to determine future direction of stock market prices, at least in the short term.

So that’s it. It’s everything that I go over in this course. Even one trade analysis is going to cover the costs of this easily. If this is the type of information that you want to learn, thenI suggest that you sign up. To tell you the truth, the type of information that you’re getting, I didn’t get at that $5,000 seminar.

Now it’s all online. All you have to do is login. New videos are going to be released every single day until the entire course is available online but I want you guys to start out real slow. I’m going to give you the introduction videos. I’m going to go through all the Greeks. I’m going to go through trade selection strategy, portfolio building, using thisTOS platform,portfolio management, using these Greek numbers, managing by the numbers,adjustments, closing positions, and the big picture technical analysis. I go through everything that you need to start putting on these trades. Like I’ve said, I’ve been to $3,000 seminars and $5,000 seminars and they don’t teach what I ‘m teaching you.

This is the real deal. This is how market makers and floor traders who know what they’re doing are doing and based on their trades for making their money through the spreads,they’re actually managing portfolios in this manner. I can’t say much more than that. This is the real deal. You’re going to get real information.

In fact, I have been a market junkie now for about 20 years, maybe even more than that. I find this absolutely fascinating and I’m slowly replacing my online income from marketing to just trading. Like I’ve said, it takes me 15 minutes a day and I ‘m done and I go do whatever I want to do. Go shopping,go to a restaurant, meet some friends, take my wife shopping, and do basically whatever I want to do. Summer is coming so I’ll probably play a lotmore golf.

These positions do not need to be managed on a minute-by-minute basis. You take a look at the open. Here’s something that’s very interesting and I’ll give you a little tip. Generally what happens is there’s a couple of different kind of days in the market. One are trend days and those days usually start out pretty good and they may continue to grow higher and higher and higher andthe market goes up or down and they trend all day.

There’s other types of days in which the prices will fluctuate within a range and the majority of the markets these days tend to fluctuatewithin a range and don’t trend that well. That’s why a lot of stock traders andoption traders who depend on trends to make their money are having a really tough time right now. So these types of trades are even more important to learn how to do in the market because this is a consistent way to make money every single month.

That’s it for me today. I really hope you join me.

I wish you the best. Trade with confidence.

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