Author Topic: Options' options --- HELP!!!  (Read 3682 times)

Offline earwax

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Options' options --- HELP!!!
« on: January 26, 2007, 10:38:12 AM »
I just signed up for Etrade account... all went smooth until I reached this Options page that let you choose which 'Level' of option you want...

What the heck are all these levels?  ???

Level 1 Covered calls, including:
  • Covered calls sold against stocks held long in your brokerage account
  • Buy-writes (simultaneously buying a stock and writing a covered call)
  • Covered call roll-ups/roll-downs

 
Level 2 All Level 1 strategies, plus:
  • Synthetic long puts
  • Married puts
  • Long calls
  • Long puts
  • Long straddles
  • Long strangles
  • Covered puts (short stock and short put position)

 
Level 3* All Levels 1 and 2 strategies, plus:
  • Equity debit spreads
  • Equity credit spreads
  • Equity calendar/diagonal spreads
  • Index debit spreads
  • Index credit spreads
  • Index calendar/diagonal spreads
  • Naked equity puts

 
Level 4** All Level 1, 2, and 3 strategies, plus:
  • Naked equity calls
  • Naked index calls
  • Naked index puts 


Never know options were so complicated!  :( There are even Naked Calls??!  ???
Right beside every great brain there is... Earwax! :)

AndrewChia

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Re: Options' options --- HELP!!!
« Reply #1 on: January 27, 2007, 04:00:05 AM »
Just say Level 4, because you might not be able to do certain deals like spreads if you put lower levels.

I presume you have not attended any options course yet  ;) Yes, options is quite complicated, hehe...
Can choose (1) Foong Mun Keong RM4,000, (2) Miriam McWilliams, (3) Kishore, or (4) Clemen Chiang ~RM8,000, go to Singapore to attend; these 4 heroes are the more popular ones around.

Alternatively, can read up a bit.  2 of the books I like best - Options For the Beginner & Beyond by W Edward Olmstead and Trading For A Living by Alexander Elder.  All the best.

P/S I have been studying Options for less than a year, level still beginner, on paper trade only.

Offline penang_lim

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Re: Options' options --- HELP!!!
« Reply #2 on: January 28, 2007, 02:54:00 AM »
How about local speakers? Is there any reputable ones that you know, residing in Malaysia? Thanks
When the time comes, all investment knowledges should be passed to the younger generations for further enhancement.

Thx & Rgds;
Lim

Offline earwax

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Re: Options' options --- HELP!!!
« Reply #3 on: January 28, 2007, 11:27:02 PM »
Hi Andrew - So far with your paper trading, do you find it as easy as they say it is?
Right beside every great brain there is... Earwax! :)

AndrewChia

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Re: Options' options --- HELP!!!
« Reply #4 on: January 29, 2007, 12:16:30 AM »
Of course it's easy, you're not losing real money, hehe...
No, it's not easy if you have not attended any course or read any books; you just won't know what or how to buy.  And you need to learn how to read charts.

AndrewChia

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Re: Options' options --- HELP!!!
« Reply #5 on: January 29, 2007, 12:19:17 AM »
How about local speakers? Is there any reputable ones that you know, residing in Malaysia? Thanks

Foong Mun Keong is local, Miriam is foreign, Kishore & Clemen Singapore.

Offline 1liner

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Re: Options' options --- HELP!!!
« Reply #6 on: January 29, 2007, 11:18:46 AM »
Which is the best speaker?

AndrewChia

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Re: Options' options --- HELP!!!
« Reply #7 on: January 30, 2007, 12:07:08 AM »
Individual preference. FMK systematic, not sure about Miriam but her local reps can put you to sleep, Kishore interesting, Clemen very charismatic/convincing.