Options Trading for Beginners w/ Tom Sosnoff (MI079)
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- Опубліковано 25 лип 2024
- On today’s show, I chat with Tom Sosnoff to discuss the ins and outs of options trading - how it works, some strategies for beginners, and the expected returns and risks. Tom is a well-known entrepreneur and options trader. He was the of Founder of Think or Swim, which he sold to TD Ameritrade, and is now the Founder of TastyTrade and TastyWorks, which he just recently, since this episode recording, sold for $1 billion.
IN THIS EPISODE YOU’LL LEARN:
0:00:00 - Intro
0:03:08 - What options trading is
0:06:05 - Implied volatility in options trading
0:10:04 - If you should be trading options
0:11:18 - When should you begin trading options
0:11:59 - Useful strategies for beginner options traders
0:27:53 - Returns and risks of options investing
0:31:33 - Why Buffett's options strategy isn't widely publicized
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Hey guys, what are your key takeaways from this episode?
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7:42 It's your Call... Well Put!
one of the world's best trader and speaker, Tom is my hero! Thank you for honesty and confirmations
13:55, absolutely agree. It’s extremely difficult at first but it opens your eyes to what a good buy set up looks like. You get slammed a couple of times shorting out of turn and you start to recognize when the shorts are overstepping their boundaries
Love Tom’s comments! His comments at the end are spot on! Take the risks!
I love the title of this episode. "Should you get a haircut? With Mr. Barber"
Lol exactly what I’m thinking!
Should you try the blue crystal with Mr. Heisenberg
And you really need to put those trades on to average out your odds! This has absolutely nothing to do with commissions
Hahaha absolutely spot on!!
Just wanted to say I hadn't heard of your channel before today but I learned more about Tom in this interview than I had before. His life before trading, how he got started in financial markets, college, other company's he runs besides TastyTrade, etc... The best bit of info for me was his 4 recommended ways to deal with a trade that goes against you. Coming from an expert that is invaluable advice.
Tom is the man. Good guy
13:00 AMAZING
I learned about Tom Sosnoff today (3/24/22) during a general conversation with a TOS technician , and it's turning out to be a wonderful discovery!
So happy you found this valuable, Louis!
Last part is so true ... 🤩
Thank you, all the advices were really helpful.
Glad it was helpful!💯
Bravo ... I am stunned ... Trugarez.
Thanks for the advice Tom. Laying up at night, listening about options, wondering if I should take the risk of going to this new job, and I'm going to do it!
very good. great value here with this guy =)
toms the best.
At 16:42 what does he mean "cover" at 21 dte? He's converting a CSP or PCS to a PMCC? 🤔 What's he saying??
Thanks
Nice podcast, tried "Think or Swim" for a week, could not figure it out. It's a dang maze.
Great show. I can listen to Tom all day
40:30 gave me chills
Excellent commentary and insight.
i am fascinated
When is the TastyTrade methodology going to be documented in a well written and comprehensive book. Why hasn't Sosnoff hired a technical writer to produce such a valuable text.
If you buy TSLA stocks and it goes up you will make money but with options it's not always the case because first you have to earn the paid premium until you can be profitable. Makes it more difficult.
or you can sell the contract for more than you paid. You might as well sell the contract to open the trade because time decay works in your favor so that you can buy it back for less than you paid and pocket the difference. In the same way time decay works against the longs, it works for the shorts.
I’ve learned a lot from Tom. An incredible wealth of information that’s allowed me to become a respectable and successful options trader.
Mousetrap bravo tom
That something like this only has 23k views and 46 comments says so much about the current generation and culture.
But hey at least its the easiest it has ever been, if you want to win.
Every time I hear you're listening to TIP I just think two in pink... lol
So you couldn't find a job during the recession except in a big financial company! That explains why the "economic system" is growing during a pandamic.
No you should absolutely not trade options. Anyone selling you a system for doing so is just taking a cut.
What you have no idea what you're talking about
@@andrewmunlin2115 Yep I do.
The back testing Tom’s firm does shows that there is alpha to be generated in systematically selling options. Don’t knock it before you look at the backtesting and try for yourself.
@@RomilCPatel And I'm sure they don't backtest only the tickers that support their salesmanship. Only the brokers make money. Listen to me and don't learn the hard way.
@@whereisthehook
They normally backtest using SPX so it’s as fair as it gets. Again you’re making assumptions without actually looking at what they’ve done.
As for the don’t learn the hard way part, I’ve work in the finance industry with experience both on the capital markets side and on an M&A desk, so I’ve have first hand experience with this. I’ve been consistently profitable with my quant systems for the last 5 years.
Worst futures trader I have ever seen. He has been short since 1500.
WARNING!!! NO YOU ABSOLUTELY SHOULDN'T!! HE'S GETTING PEOPLE EXCITED TO TRADE LOADS WITH ZERO EDGE TRADES TO GENERATE VOLUME FOR HIS BROKERAGE.
@Steve Fair comment!! He's certainly adding fuel to the fire, which he probably started anyway.
@Steve OK, let's say that's true. My main point tho Stevie is that he's talking options up and getting people excited with high probability although still zero edge trades in the hope they sign up with his brokerage Tastyworks. If you have strategies that really work like Renaissance, Citadel, DE shaw you don't start a brokerage. Its an absolute joke!
@Steve Basically he's trying to get people hyped about trading options when there's no edge, which I'm assuming he knows because he created a brokerage instead of a trading company. He does trade but he has millions to just piss about, from the sale of his first brokerage years ago. When hes just treading water trading on the show he's getting people to follow him, which I'm guessing he sees that as just the cost of acquiring new accounts to Tastyworks.
If you had sold a put before a market crash you would have been wiped out, you would much prefer an index fund, I know its boring but that's the reality, options are leveraged products not ideal in a market crash!
The rolling concept is basically just taking the loss to establish a new position then hope the market goes your way, again with a leveraged product.
100% agree with you on the Citadel and others, and that proves my point, you wouldn't encourage people to go to the casino unless you're getting a piece of the action somewhere along the line.
100% agree that there is some interesting info on their website, but it's probably only on the skinny on options math section. The rest are just shills for Tastyworks in my humble opinion.
@@user-gy7cy7os7g he fucking siad that, he likes the OPTIONS in options. not an etf, he says if thats your thng do it options are wonderful. if you like trading..if your investing i STILL think knowing a thing or two helps alot but you can just not do it, hes not hyping people up and i get when this comment was made it was the meme stock boom covid flash crash then bear market now ripping faces. you can do alot more then watch your 401k go down with options esp with a small account. stay small. this was a great episode and ive seeen every video on youtube about the markets and used tasty trade and TOS. also think big, the amount in commissions from people using his platform probably just keeps the lights on,
**what he is doing is showing how people can survive and STAY ON THE PLATFORM so he doesnt want you to lose cuz then you stop using it. so its a win win for him to educate and keep you in the game if anything and thats actually the best point i can make.**