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Anyone Trade Options?

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desura

Diamond Member
I just clicked on the first google result for "virtual stock options trading"

Cboe.com.

Is there a better/more interesting service?

Any tips on options trading? Stories?
 
> Any tips on options trading?

"A strange game. The only winning move is not to play. How about a nice game of chess?"

I'll stick with stock index mutual funds and ETFs, but I don't gamble in Vegas either.
 
I trade options off and on. Lately (2009+) I've been liking the strategy of selling naked puts. Basically I price out what I'd want to pay for a stock and then sell a naked put. e.g. I would like to buy AMZN at 220 so I shorted a 220 put. If AMZN stays above 220, I keep the premium and if it goes below 220 then I buy it for a discount compared to what it is now.
I'm not too sure about any virtual option trading sites. I had written one myself a long time ago that used yahoo quotes and it worked fine. If you have an interactive brokers account, you can make a paper trading (virtual) account and trade anything your real account has access to.
 
“Option sellers eat like chickens and go to the bathroom like elephants” - Nassim Taleb
 
gevorg said:
“Option sellers eat like chickens and go to the bathroom like elephants” - Nassim Taleb
Click to expand...

True but so far I've only had about 2/50 bad trades. That's why I only play with stocks I want to own anyways.

Since I opened my IB account I took it from 20k to 40k, so I am doing something right. I don't know how much of that is from options versus stock appreciation though.

Right now I only have AMZN stock (in that account) and a couple naked puts. Right now the puts are up about 800.

The worst trade I've ever made in my life also involved options.. I had bought AAPL at 40 and sold some covered calls (maybe @50?). The stock went down to 35 and I panicked and sold enough calls to break even. Had I just bought the stock outright and kept it and not messed with options, I would have made 500k.
 
nickbits said:
I trade options off and on. Lately (2009+) I've been liking the strategy of selling naked puts. Basically I price out what I'd want to pay for a stock and then sell a naked put. e.g. I would like to buy AMZN at 220 so I shorted a 220 put. If AMZN stays above 220, I keep the premium and if it goes below 220 then I buy it for a discount compared to what it is now.
I'm not too sure about any virtual option trading sites. I had written one myself a long time ago that used yahoo quotes and it worked fine. If you have an interactive brokers account, you can make a paper trading (virtual) account and trade anything your real account has access to.
Click to expand...

While we're on the topic...what stocks are you interested nowadays?
 
desura said:
While we're on the topic...what stocks are you interested nowadays?
Click to expand...

AMZN is the only thing I am playing around with right now. I'm not into trading as much as I used to be. I've tried to play with APPL but it is too volatile and I always end up losing money.

I do dollar cost average boring index funds as well but those are in a different account.
 
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