/biz/ - Business & Finance

I bought $80 of options 2 weeks ago and it went to $620 but instead of selling it I held it and then it went back to $80 and I sold.

someone give me a quick rundown on this options shit. if it's not doable with crypto i don't give a shit tho'

>>52714908
Degen leverage with stonks instead of shitcoins. It's pretty based, because TA will always be more valid with tradfi than low volume alt casinos

>>52714865
Trading options requires an IQ above 60.

>>52714865
it's definitely a thing if you know how.. generally you check the open interest for where the house sees the free money.. then sell a put on something you like.. if it expires worthless you keep the money, just like the house does.. if it gets executed you buy the stock or commodity you like at the price you like.. doesn't mean all your open interests will trade, but it is the preferred way to buy stocks and commodities.. why pay the ask or even a buy limit when someone will pay you to buy from them at a price below what you could execute at currently?

>>52714908
I believe there are "Crypto Options" but I never used them. But Options is just a way to leverage stocks. Often if you buy an Option on the underlying stock, if the stock goes +10%, your option goes like +200%. 1-2 days ago when SPY went from 397 to 407 in a day, the Options for it that expired that same day, went up +1400%

>How come people on /biz/ don't seem to trade Options much?
natural selection. everyone who trades options loses their money and leaves /biz/

>>52714908
Also Options are very similar to Futures anyway. Almost the same thing if you ignore details, and Crypto Futures exist.

Because crypto retards are actually retarded and beg for liquidation engines to fuck them up the asshole like the good little small brains they are. Also because the nature of crypto makes it very hard to allow people to sell naked options, which is where the real money is at.

>>52714865
don't have quite the same easy returns anymore
>futures anon is right

>>52714865
There's a paid group trader who has a 80% win rate and had like 100 day win streaks back to back. I might join his live sessions and try to grow this webull account

>>52715150
Can you tell me who or link me? I want to try that

>>52715174
Post your discord bro

I'm >>52715150
Ip changed

>>52715150
>>52715174
>>52715310
dont fucking listen to him. mirror trading is a common financial scam, DONT LISTEN TO ANY ONE ON THIS BOARD

>>52714865
Bumping because this is a good idea.
I do trade stock options, even though I hate it.

>>52715370
Of course, a lot of them are scams but copy trading isn't a scam like you make it out to be.. largely depends on who you listen to and your own experience. Ive made 6 figs copytrading certain public CT traders in crypto. I have money to blow and the privilege to give new ppl the benefit of the doubt. it doesn't hurt me if I lose. Don't try it if you are poor though. I'm not here to shill anything hence why I asked for his disc and I can send it to him in private if he wants to do his own DD on it and try it out.

I trade options and regularly shitpost on /smg/ I don't post serious stuff on that general because people never believe that I make money trading options. So I just go there to bully all of the bagholding idiots and schizos and boglecucks. I've been doing it successfully for 4 years now and have a $300k account.

If you want to learn: read Options as a Stragic Investment by Lawrence G. McMillan (but ignore any generic advice like X usually works and Y doesn't work). Follow up read Hedge Fund Market Wizards by Jack D. Schwager (especially the chapter concerning Jamie Mai) and also The Zurich Axioms by Max Gunther.
When someone says "X doesn't work chances are it actually does very well in certain situations" trading options means being a contrarian, it means doing things that people either can't think of or things that people refuse to do.

As for what I do right now, see pic related.

>>52714908
RESPECT THE DIRECTION OF THE MARKET. RARELY DOES SHIT NOT MOVE WITH THE MARKET.

Currently holding

1/20/23 GDXJ call $40
1/20/23 SILJ call $12
1/06/23 GDXJ calls $40
and
$4500 FISOF

>>52715626
this is an 8/10 on the schizo with an apocalypse bunker scale

>>52715459
Many thanks sir, I want to learn.

Is pic related because people don’t want to take the effort to learn the rules and fundamentals or because they don’t believe it’s possible?

>>52715459
Do you find it fruitful anon? Is it a stressful career?

>>52715644
BUY BUY BUY currently up 85% on FISOF and 120% on my calls.

>>52715459
thank you anon. i actually just borrowed Options as a Stragic Investment from my local library to try and learn a bit. its a 1000+ page textbook. did you just read it all?

>>52715675
>FISOF
Holy shit. And I thought I made a good play when I actually listened to that little fucker on /smg/ who's been shilling APSI all week.

>>52715652
People only follow the rules when they work and then they break them by either capitulating or doubling down. The guy I posted (Richard Dennis) closed his fund after the 1987 crash because he broke his own rules by doubling down on a losing trade. Rules w.r.t. this topic is risk management. They are there to protect your capital, not maximize returns. Everyone has their own personal risk tolerance and edge so they must create their own rules through experience. Zurich Axioms covers this topic very well.

>>52715661
No, I've been doing this so long that it doesn't even phase me. My system is set up so that I spend maybe 1 hour a trading day and maybe a saturday night doing some research and risk assessment. My account regularly swings +/- $20k day to day, it's within my risk tolerance and I follow my system that limits how much I can lose on a single trade so I sleep well at night

>>52715676
That specific book is more of a textbook. The first half of the book is important if you know nothing about options. I read all of the first half when I was learning. The second half delves into technical details, I still revisit the second half every once in a while when I have a specific question that I want to answer or idea I want to implement such as yesterday I was looking into that tax implications of straddles and qualified covered calls.

If you are ambitious and motivated you can read it front to back, but I only read the first half and then picked specific chapters when I wanted to pursue a specific topic. The chapters on volatility are especially important. Low interest rates + low volatility = huge opportunities. It's how Jamie Mai's hedge fund did so insanely well.

>>52715707
not sure what that aqua shit is but FISOF just hit a major major drill hole. results will be out by christmas, so itll probably pump till then. They got 2 hits of off scale radioactivity 10m apart so they got a big, high rade deposit.

>>52715764
I'm leery of uranium stocks, but I can't ignore that pump. Thanks for sharing.