What are the top 10 Commandments of Options Trading Strategies

Options Trading/Strategies

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This blog is about the top 10 Commandments of Options Trading Strategies.

Options trading is a complex and often risky business. However, by following some simple rules, options traders can increase their chances of success while minimizing their losses.

Option strategies are the simultaneous, and often mixed, buying or selling of one or more options that differ in one or more of the options’ variables. Call options, simply known as calls, give the buyer a right to buy a particular stock at that option’s strike price. Conversely, put options, simply known as puts, give the buyer the right to sell a particular stock at the option’s strike price. This is often done to gain exposure to a specific type of opportunity or risk while eliminating other risks as part of a trading strategy. A very straightforward strategy might simply be the buying or selling of a single option; however, option strategies often refer to a combination of simultaneous buying and or selling of options.

Options strategies allow traders to profit from movements in the underlying assets based on market sentiment (i.e., bullish, bearish or neutral). In the case of neutral strategies, they can be further classified into those that are bullish on volatility, measured by the lowercase Greek letter sigma (σ), and those that are bearish on volatility. Traders can also profit off time decay, measured by the uppercase Greek letter theta (Θ), when the stock market has low volatility. The option positions used can be long and/or short positions in calls and puts.

Below are the 10 Commandments of Options Trading:

  1. Do your homework. Before entering into any options trade, make sure you understand the underlying security, as well as the risks and rewards associated with the trade.
  2. Have a plan. Options trading is not a get-rich-quick scheme. Carefully craft a plan that takes into account your investment goals, risk tolerance, and time horizon.
  3. Use stop-loss orders. A stop-loss order is an order to sell an asset when it reaches a certain price point—the point at which the loss on the trade would become too great to bear. By using stop-loss orders, options traders can limit their losses on any given trade.
  4. Let winners run. Once an options trade is profitable, resist the urge to take profits too early. Instead, let the trade run its course and reap the full rewards of a successful trade.
  5. Cut losers short. On the other hand, when an options trade is going against you, don’t be afraid to exit the position and take your losses. Trying to “fight” the market will only lead to further losses.
  6. Manage your risk exposure. One of the most important aspects of successful options trading is managing risk exposure. Make sure you don’t have too much of your portfolio invested in any one security or sector. Diversification is key to mitigating risk in options trading (or any kind of investing).
  7. Use limit orders. A limit order is an order to buy or sell an asset at a specific price—the price at which you are willing to enter into the trade. By using limit orders, options traders can better control their risk exposure and avoid getting caught up in volatile markets.

8 . Be patient . Patience is a virtue in all aspects of life, but it’s especially important in options trading . Don’t enter into trades just because you’re feeling antsy—wait for opportunities that meet your investment criteria . And once you’ve entered into a trade , resist the urge to “trade emotionally” and instead let your original analysis play out . Over-trading is one of the biggest mistakes options traders can make .

9 . Stay disciplined. Like patience, discipline is also key to success in options trading . Once you’ve developed a sound investment strategy , stick to it ! Don’t let emotions influence your trades — if anything , emotion should be kept out of trading altogether . The best way to do this is by developing a clear set of rules that you always follow when making trades . If you can do this , you’ll be well on your way to success as an options trader.

10. Have realistic expectations . Finally, it’s important to have realistic expectations when trading options . Remember : there are no guaranteed winners in options trading ! Every trade involves some degree of risk, so don’t expect to win every single time. If you approach each trade with reasonable expectations and focus on long-term success, however, you’ll be well on your way to becoming a successful options trader

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What are the top 10 Commandments of Options Trading Strategies


  • Thou shall always take 100% daily gains or 200% all time gains.
  • Do not fall into temptation and buy during the first 30 minutes of market open. (Selling positions is still permitted)
  • Thou shall not buy calls on green days.
  • Thou shall not buy puts on red days.
  • Avoid greed and do not buy consecutive options on 1 company.
  • Give thyself at least 3 weeks time to play the option.
  • End your suffering and sell if down 50% all time on an option play.
  • Avoid gluttony and do not day trade options. (Swing trades allowed)
  • Be fruitful, multiply earnings and sell covered calls if holding any.
  • Celebrate and binge drink after big gains (or losses)
  • Off topic, but relevant – You absolutely need to be doing a 401k or IRA as well as investing in crypto: 401ks and IRAs offer fantastic tax advantages that straight investing does not. Also if you have an employer who matches you are leaving money on the table by not taking advantage of that. It’s foolish. Crypto is great and should definitely be in your portfolio but it should not be your whole portfolio.
    1- WallStreetBets
    2- Wikipedia

Options trading can be complex and risky business, but by following some simple rules traders can increase their chances of success while minimizing losses

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    Net worth ~1m. ~500k Roth 401k, 300k home equity, 200k in company stock. I spend ~45k a year but could cut a decent bit , income is ~220k. 30 years old. I'm completely burned out. We've been through 5 senior directors in 6 months, I've had 4 direct managers in the past year and I've been working crazy hours on a project that is the number one company priority but my work isn't really valued by the new leadership team. I know it's frowned upon to quit a job without a new one lined up, but I was thinking about liquidating 100k in company stock, spending six months getting some rnr, traveling to visit family who live all over the world, and just focusing on personal growth (wrapping up some house projects, getting back into shape). I'm in software engineering if it matters. One side of me knows it could have high risk of re-entering the job market making significantly less, but I'm so burned out even if I job hop im not sure I will perform at my usual standards. Is it really that bad to take some time to travel and recharge before I jump into a new opportunity? submitted by /u/aryastarkia [link] [comments]

  • Which other financial subs have the best communities and mods, which ones have the worst?
    by /u/Frosty-the-hoeman (Financial Independence / Retire Early) on June 18, 2024 at 1:17 pm

    Something is going on over at HENRYFinance, where the mods are removing comments and banning folks for suggesting they might join another sub. I’m curious which finance related subreddits have the best communities & moderation to be a part of? Thanks! submitted by /u/Frosty-the-hoeman [link] [comments]

  • Getting Closer to Retirement Goals, why does it feel so weird?
    by /u/AcceptableQuarter554 (Financial Independence / Retire Early) on June 18, 2024 at 1:14 pm

    After we got married, my wife and I would discuss retirement goals where we wanted to figure out a way to retire well before we hit 65. Two kids in daycare peaking at 24k a year kind of acted as a rude awakening, but we chugged through it. We are at 4 years since our last kid left daycare, my wife picked up a substantial pay increase and we have been living with our cheap attitude gained from really lean years. Its obviously hard to talk about the ideas with family or friends who might not be in the same situation. We are at a 40%+ savings rate I know a lot of people talk about not spending more as you make more... somehow we did it. Started doing some vacations every few months, but those are usually 4k each all in. Right now we are in a LCOL/MCOL area, income is 195k gross, post tax maybe 170k in what we are able to spend or invest yearly. We max out her 401k (6% match), max out the HSA (1-2k company yearly) (its an investment account, we don't use it) and max out my yearly IRA. I was doing more traditional IRA, but I'm shifting to Roth currently. The rest funnels into savings where I keep about 15-20k on hand and the rest is invested in a post-tax account. Monthly expenses are comically low. Our 2200 sq ft home has a monthly payment of 900 after we pulled off a refi at 2.85%. One car payment at a time as we hold onto them for 6-8 years. On average we spend about 85-90k a year expenses all in, including a few vacations a year. We've bounced credit card deals for points and miles and have basically had free airfare for all our travel. No CC debt, like 2k left in student loans that are $76 a month, one car note and a mortgage sitting at 220k. The past few years the accounts have grown substantially. Felt like we were just getting over the 250k hump combined across all accounts a few years ago. Last year we were in the 300s, and at year end things had grown more than our combined incomes. We were at 500k this Jan, and right now we are at 750k. I know it won't grow that fast forever, but things have really helped to accelerate plans. The spread is 250k in a post-tax account, 500k across the tax advantaged accounts. We've allocated 18k per kid in 529s so far, and with 8 years left until the first hits college we should be able to cover a few years for them each. The main retirement goal is to reach a point where a 4-5% draw is around roughly what we spend. I think on current growth we might be solidly in that range in 5 years where my wife can scale back from her job to something more relaxing. I don't think we'd want to retire fully, so some employment will be in there and that will act as a buffer as we sort things out. For those who have set a retirement goal decade or more out and are finally seeing some light at the end of the tunnel... how do you prepare? Investment people I've spoken to really just fall into the category of how to grow money, or assume I don't have much to invest. Most are clueless though about the tax side of the equation. So far everything has been self-directed or self-researched. submitted by /u/AcceptableQuarter554 [link] [comments]

  • Daily FI discussion thread - Tuesday, June 18, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on June 18, 2024 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • HSBC Sees $250 Million of India Swap Deals Before JPM Inclusion
    by /u/bloomberg (Financial news and views) on June 18, 2024 at 8:23 am

    submitted by /u/bloomberg [link] [comments]

  • Non-Inflation Adjusted Pension - How to Factor into FI Number?
    by /u/LeeLifesonPeart (Financial Independence / Retire Early) on June 18, 2024 at 8:14 am

    I will receive a state pension that receives a non-compounding 2% increase every year. In other words, if the pension is $50k, then every year it increases by a flat $1k (2%), making it $51k in year 2, $52k in year 3, $53k in year 4, etc. There is a provision where if the purchasing power falls below 85% then they'll supplement the payout, but historically these have been rare, in spite of high inflation. For example, pensioners who retired in 2005 didn't see a supplemental payment until 2022. Given this, how would you factor the $50k pension into your retirement number? For instance, say you anticipate a standard 30-year retirement and want $100k in annual retirement income. Typically, the other $50k could be covered by a $1.25M portfolio with a 4% WR. But given that the pension will lose purchasing power over time, it seems like the portfolio number needs to be higher, but how much higher? How would you determine your FI number in this case? FYI, I do not pay into SS, so this is not a factor. Thanks in advance for your thoughts and advice! submitted by /u/LeeLifesonPeart [link] [comments]

  • If you plan to pay for your kids’ college, how much are you saving?
    by /u/trendy_pineapple (Financial Independence / Retire Early) on June 18, 2024 at 1:35 am

    Do you have a target number for their 529? Are you saving in a taxable account? Planning for financial aid? I’m planning to FIRE before my oldest goes to college primarily using a Roth conversion ladder, so our income and relevant assets will be pretty low. I’m not sure how much I should count on financial aid vs saving aggressively in 529s. Or perhaps saving in a taxable brokerage for more flexibility. How are others thinking about this? I know lots of people either want their kid to have skin in the game or don’t see the value of college at all, but this question is specifically for those people who are planning on paying for their kids’ college submitted by /u/trendy_pineapple [link] [comments]

  • Can’t tell anyone, just here for the GFYs
    by /u/Fragrant-Badger6608 (Financial Independence / Retire Early) on June 17, 2024 at 9:35 pm

    Long time DCA automatic investor, put my head down, went to work, raised a family, looked up 35 years later and my portfolio is over 2 million. My wife and I are 57yrs, 3 kids (1 college living at home, 1 college sharing apartment with roommate, 1 married with 2 grandkids and 3rd on the way). Here’s rest of the details: 82K cash 1.5M equity investments (Roth/401k) 640k real estate (115k remaining @3.6%) 50k annual pension 25k annual VA disability Currently making 170k annually (data scientist in defense consulting) and wife (teacher) 50k. Not looking for advice, just can’t seem to discuss with anyone. submitted by /u/Fragrant-Badger6608 [link] [comments]

  • Finally joined the 2 comma club at 35!
    by /u/bondsman333 (Financial Independence / Retire Early) on June 17, 2024 at 6:42 pm

    Finally made it! The big 1MM. I celebrated today by buying a new kindle - my old one wouldn't hold a charge. Had a 20% off coupon. I got married 2 weeks ago - so I actually became a millionaire when we signed the documents. But it had long been a goal of mine to reach 7 figure net worth on my own and I can finally say I have done so. A brief snapshot: Checking: 26K HYSA: 22K 401K: 378K Roth IRA: 196K Taxable: 353K HSA: 28K TOTAL: 1.03MM (I do not include real estate, which is about 200K equity) Backstory: I failed out of college in 2009. I blame immaturity - I was babied my whole life and moved 500 miles away. I joined a fraternity and cared way more about beer and girls than grades. My first 2 years were easy enough - but junior year came around and I was in for a rude awakening. My parents welcomed me back home with many conditions. I had a curfew, was not allowed to drink, had to ask permission to use the car, had to get a job and had to go back to school. I was so embarrassed- I was a smart kid in my high school with straight A's and now I'm bagging groceries for my friend's parents. I went to a local community college and re-took some classes in engineering. Found a groove and kept on pushing. After 3 semesters I transferred into state school and finally finished with a BS in Mechanical Engineering in 2012. I got my first job as a CAD technician getting paid 50K. Soul sucking job. Moved in with some friends at a really cheap apartment. Most of my friends made little money so we just hung out and played video games or went camping on the weekends. I started saving 15% from my very first paycheck. After a few years I wanted something else- so I figured why not try grad school. My alma matter had a Plastics Engineering program that sounded interesting. I kept working full time and taking as many classes as I could. These were dark times because I had zero social life. But I was determined not to fail again. I got my MS in Plastics Engineering in 2017. I immediately got a new job offer at 80K and amazing benefits. Free healthcare, 10% 401k matching, bonuses, ESPP - the works. Unfortunately that job only lasted 3 years until Covid hit and we were all laid off. Between unemployment and severance I came out just fine. Found a new job 3 months later and been there ever since. Currently making 125K after some raises, but benefits are much worse. How I got here Aggressive investing. I bought a lot of tech stocks and SPY. I maxed out my 401k and roth IRA from 2014 onwards. I had a net zero budget - after all my bills were paid and my e-fund funded, every dollar went into the market. I lived WAY below my means which was significantly easier a decade ago. I had roommates until 2019, as many as 5 at a time. I drove used cards until I couldnt anymore. I mostly gave up drinking so I never went out for the sake of going out. I like cooking so I made 95% of my meals at home. Packed a lunch every day. Whats next If you asked me 4 years ago, I would tell you my plan was to retire at around age 40 with 1.5MM and a paid off house in a LCOL area. That all changed when I met my now wife. Luckiest man on the planet. She brought in another ~500k into the relationship. We have a house and a dog and are now trying for kids. I am planning on taking some time off from work if/when we do as my partner's career involves significant travel. I am quite burned out and my current job is not going well. Benefit of living this 'lifestyle' is that I am not overly concerned about it. Our current combined NW is around 1.7MM. Our goal is 7MM at age 50 (15 years) - but that goal shifts every so often. Who knows what the future will bring. Thanks for listening. submitted by /u/bondsman333 [link] [comments]

  • Best place to park international allocation given 175% FPL cliff
    by /u/Moist_Young2620 (Financial Independence / Retire Early) on June 17, 2024 at 1:28 pm

    TLDR: Given the significantly higher yield of intl and the 175% FPL cliffs for FAFSA and ACA, is it better to park your international allocation in a retirement vehicle rather than your brokerage account? Longer Version: Long time lurker. First time poster. Haven't really seen this addressed elsewhere. I am ~50% to our number and have always put my ~30% intl allocation (a drag that I've come to terms with) into our brokerage account to take advantage of the tax credit. Ultimately we'll land well into chubby but probably not the moving goalposts of fatfire. The dividend yield on our brokerage account is already about $18k which is ~35% of the 175% FPL limit for our family. Given: How beneficial it is to stay below the 175% FPL (who knows what it will be when I retire) VXUS yields about 2.4x what VTI does in dividends We're already filling up 35% of that important 175% FPL cliff We will spend say $75k more than the $54.6k 175% limit Should I be moving our future international asset allocation to some retirement vehicle? I do mean future in that I don't intend to sell the brokerage holdings but make smarter decisions moving forward. The $75k in additional spend will certainly not all be income but I imagine there is some AGI in there with capital gains and such. I intend to manipulate as best I can. Few relevant data points: $18k in brokerage dividends last year 32% federal bracket filing jointly Current asset allocation: 100% equities - 72% US, 28% Intl Account breakdown: 50% brokerage, 26% pretax, 24% roth Retirement Timeline: 8 years out assuming consistent contributions and 5% real return submitted by /u/Moist_Young2620 [link] [comments]

  • Daily FI discussion thread - Monday, June 17, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on June 17, 2024 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Moronic Monday - June 17, 2024 - Your Weekly Questions Thread
    by /u/AutoModerator (Financial news and views) on June 17, 2024 at 5:01 am

    This is your safe place for questions on financial careers, homework problems and finance in general. No question in the finance domain is unwelcome. Replies are expected to be constructive and civil. Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers. submitted by /u/AutoModerator [link] [comments]

  • New job offer ($43k increase + promotion) that requires a move to a HCOL city
    by /u/CastOfSNL (Financial Independence / Retire Early) on June 17, 2024 at 3:57 am

    Hey all! Longtime lurker, first time poster in the sub. I've recently received a job offer from a company that would bump up my total comp from $98K a year living in a LCOL city, to $140k a year ($125k base and $15k annual bonus) that would be a promotion from my current role. The catch is that it would require me to move to a HCOL city (D.C.). I've been thinking about the pro's and con's from a FIRE perspective and from a life experience perspective, but would love any insight from others who have had a similar opportunity present itself! Please let me know if you see any glaring errors or things I should be accounting for. Other info: Single and in my mid 20's, with the hope to achieve FIRE within the next 20 years. Current job is fully remote, but the new job would be 4 days in office 1 WFH. I've been passed over for promotion in my current role and don't see a clear path to advancing my career in my current company. Currently able to save/invest roughly $3.4K a month/$40.8K annually (inclusive of 401k, taxable brokerage and adding to savings) after rent, utilities, groceries/eating out, etc. I believe I'd be able to save/invest $4.4K a month/$52.8K annually even with the increase in rent and other expenses (a $12K increase in savings/investments). Here's my current monthly budget for my LCOL city: Gross Income: $8,107 Pre Tax 401K Contribution: $1,865 Total Taxes: $1,594 Net Income: $4,648 Rent + Utilities: $1,829 Groceries + Eating out: $700 Savings/Emergency Fund: $500 Roth IRA Contribution: $500 Brokerage Contribution: $500 Miscellaneous Bills/Insurances/Gas/Etc: $600 Total Invested/Saved = $3400 ($40.8K annually) Here's my projected monthly budget for my HCOL city (D.C.) based on average rents and perceived increases (but please let me know if there's something else I should be accounting for)! Gross Income: $11,666 Pre Tax 401K Contribution: $1,867 Total Taxes: $3,087 Net Income: $6,712 Rent + Utilities: $2,520 ($2300 base rent + $220 utilities) Groceries + Eating out: $1000 (increase by $300 from LCOL to account for new experiences/costs) Savings/Emergency Fund: $500 Roth IRA Contribution: $500 Brokerage Contribution: $1500 (increase of $1000 from LCOL) Miscellaneous Bills/Insurances/Gas/Etc: $600 Total Invested/Saved = $4400 ($52.8K annually, a $12K increase) submitted by /u/CastOfSNL [link] [comments]

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