Max analyzes the psychological framework of a successful options buyer or seller and the decisions that a person must make regarding his risk posture and strategy. An options trader must first decide which side of the trade to take, buying options or writing them. This requires analyzing the very different risks, profit potentials, capital requirements, and profit probabilities of each side.
You will learn the three major benefits and one big negative of buying options, as well as important rules for selling and buying them. Max discusses margin requirements for options sellers and outlines the importance of defensive tactics how and when to use stops and how to reduce the "unlimited risk" nightmare of selling naked options.
You will learn how to pick the right underlying future, stock, or index on which to trade options and how to determine what size position to take. Max explains how to select the best strike price and maturity date for option buyers and sellers, when and how to roll up, roll down, and roll out your options, and when to close out your position and take your gains or pains.
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