Newbie needs help please

Hey everybody thanks for all the tips, I am glad to read that it looks like everybody on the thread has gotten some direction and/or had the chance to share. Good lookin out!!
 
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I really appreciate the advice RR and I ordered the McMillan book last night. I can tell that I need to dedicate some quality time studying this stuff in order to get a decent grasp. It's difficult to find the time as I seem to spend 15 hours a day researching stocks, reviewing charts, etc. This will definitely be a topic I will dig into during any vacation time I can grab this summer. In the meantime, is there any "simple" option plays you would recommend to hedge my equity positions, or to gain additional profit from them? I usually hedge my total portfolio by holding a short index ETF. I'm thinking options may be a way to accomplish the same thing without requiring as much capital. Again, thank you for any and all insight.
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Absolutely nothing wrong with hedging a long portfolio with a short ETF. Another way to hedge a long port is selling VIX puts. The beauty of selling VIX puts (again against a portfolio with mostly long positions) is if your put loses money that means the vix has dropped significantly and the rest of your port is doing great! If your put expires OTM you keep the premium collected.
Again options do offer many way to make (and lose) money so understand them and start small.
 
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