Good Option Advisory Services?

Scataphagos

Scataphagos

Dipping my toe into options. I understand basic strategies, risks, etc. But I'm wondering if there aren't good option services that do the screening work and make recommendations. I get a flood of solicitations... most want $2,000-$3,000 to sign up for a year of option plays.

Any recommendations I should check into?

TIA
 
Thanks for the reply, but if I have to learn how to screen for option picks and then do so... that's going to be too much trouble.

I'm looking for a service which will recommend an option play. I'll then look at the chart and see if I'm down with their recommendation as to the likely move on a speculation. I want somebody else to get into the "value" of executing at one strike or another (isn't that what the Black Sholes option pricing model is/was all about?) Is value the same as implied volatility?

In one sense, options can be simple. In another, quite complicated. If I can't do it K.I.S.S., I'm not going to do it at all.
 
If you want to learn and make money doing options, go to tastytrade dot com and click on the learn button. Then they have a new brokerage (I don't have it, I use ToS for most of my option plays). You can learn all about the strategies. Hope this helps.
Jacktrade1
 
Scataphagos said:
Dipping my toe into options
I understand basic strategies, risks, etc

But I'm wondering if there aren't good option services that do the screening work and make recommendations
More...

I'm kind of surprised an experienced, or veteran, ET'er like you...would ask for such a rather...silly automated solution or recommendation service o_O :confused:

Continue to learn, and explore, options...and you will see your own light,
 
lawrence-lugar said:
I'm kind of surprised an experienced, or veteran, ET'er like you...would ask for such a rather...silly automated solution or recommendation service o_O :confused:

Continue to learn, and explore, options...and you will see your own light,
More...

I'm a surprising fella, sometimes.
 
Dipping my toe into equities. I understand basic strategies, risks, etc. But I'm wondering if there aren't good equities services that do the screening work and make recommendations. I get a flood of solicitations... most want $2,000-$3,000 to sign up for a year of equity plays.

Any recommendations I should check into?
 
or you can use technical analysis to screen for chart setups on the stock which you can then translate into an option strategy. That works as well.. if not better.
 
For options try Schaffer.
For equities try Arora Report
Both are reasonably priced. You can get arora report on a monthly basis.
You can also try Cramer action alert.
 
If you're already coming from a solid equities base, I'd stay right where you are.

Options are insurance -- that's it; nothing fancy. (Yet.)
"Option plays" are all, and entirely, based on the underlying and market.
If you're already coming from a solid equities base, I'd stay right where you are.

If you think the underlying will rise (with a given probability), then you can buy calls above that price, or sell puts at the current price, and wait for the move.
If you think the underlying will fall, you can sell current calls and buy puts in anticipation.

But anyone who is going to provide the option trade for you, is going to be doing the "here's if it rises; here's if it falls; here's our expectation:...." dance -- they're going to be taking a read on the underlying, and going through a basic menu of option set-ups. It's the same regime you (undoubtedly) go through right now, except instead of thinking about market entry/exit, they're thinking about buying/selling insurance *around* that event.

So: if you're already coming from a solid equities base, I'd stay right where you are: YOU should provide your own targets. Let some basic options course/book supply the trade. IB's webinars are rather junk-free. (See esp. Russell Rhoads.)
 
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