You're welcome. I'm happy that you are finding the Getting Started with Options series helpful. Here's the link to the entire series:ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=qWwOHk3PZlLjnaoB Enjoy. ^Barb
Thank you! 😊 I appreciate the positive feedback. Here is the link to the entire Getting Started with Options series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=qWwOHk3PZlLjnaoB ^Barb
I have been struggling with the concepts of options for literally years; this is the best tutorial I have seen and simplifies the mystery for me. Something obvious to most is "losing all of your principle" - No, you lose your option money, NOT as if you are losing principle in the stock itself. Hence: "Option to buy" NOT obligation. I was overthinking it. Thank you!
I'm so glad you found this helpful. Here is the link to the entire Getting Started with Options series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=tj3x_jTDD_bTpaGV Enjoy. ^Barb
Welcome to the world of options. I appreciate the feedback. Keep coming back. Here is the link to the entire Getting Started with Options series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=04uSQDjy8K6xLfRz ^Barb
Barbara, I'm a newbie to options. So glad I found you. I find your content, explanations, and visuals..easy to understand. In other words, spot on! Thank you!
You are so welcome! Here's the link to the Getting Started with Options webcast series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=eHh7KWaGfXYS8M4j Enjoy. ^Barb
Glad you think so! Here is the link to the Getting Started with Options series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=TTovhlEbUvGCEUkT Enjoy. ^Barb
Thanks. So glad you found it helpful. Here is the link to the Getting Started with Options webcast series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=TTovhlEbUvGCEUkT ^Barb
Glad it was helpful! Here is the link to the Getting Started with Options webcast series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=3O6wYKmCiKlK95hm ^Barb
Glad you liked it! There is an entire Getting Started with Options series as you may know. Here's the link: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=mnxdxI9NIBcMV1P6 ^Barb
Hey Barbara thanks so much for this! One question at 21:50 you describe how to setup an OCO bracket to set a target and exit. You show how to set the target by stock price but you set the exit ( or stop ) by percentage. Can you tell me how to set the exit by stock price as well? I have been trying to do it on my own but something doesn't look right . Thanks in advance!
Great question. It's easier to demonstrate than describe, but you basically want to set it up as a market order to sell, GTC, & then click the sprocket on the far right side which brings up a conditional page. There you can enter the stock price at which you would like to exit. You could also call the trade desk and they would be happy to walk you through the process and can share a screen with you if needed (1-800-435-9050). Lastly, you can book an appointment with a thinkorswim specialist if you are new to thinkorswim or have several questions. Here's the link to book a complimentary session: . Click Link to register: bit.ly/3Pa5wzo ^Barb
Hi Barbara, at timestamp @12:00 you mentioned that the Options volume should be 20x … I didn’t understand that part… 20x relative to what metric? Is there a way we can check historical volume, or is there some other way to measure the 20x ?
Good question. An example requirement might be that the trader wants to see at least 20X the number of contracts he/she is considering trading already appearing in Open Interest & Volume. So if a trader is considering trading 5 contracts, they might want to see at least 100 contracts already 'on the books'. ^Barb
Iam sure Barb now's her stuff, I used to be a software engineer, My Dad Went to school @ Purdue University, I am 69 and retired UWEC, UW Madison, and FIT
Nicely done. One of the challenges in using TOS (coming from Tradestation) is that TOS is more forms-based or forms-heavy as opposed to Tradestation, where I visually place and see the stop and limit on the chart. What is your experience ?
Thinkorswim is the only trading platform I have ever used so I really have nothing to compare it to. You can, with a simple click have you target exits and stops appears on the charts. (Click on the sprocket on the chart, choose show orders). I will often manually add my targets to the charts. I find that helpful as well. ^Barb
Hello! I really appreciate all of your presentations!! I have decided I don't like mixing Stock Price with Premium. It confuses me. So what type of trade would I place if I want to Buy a Call and set the Premium Target and Premium Stop. You may have shown us this but I can't remember which lesson it was. Thanks!!
I don't think I have placed an example long option trade where both the target and the exit were based on the price of the option. Instead of placing a target with a conditional exit based on the price of the stock, the trader would just put the desired target value of the option.
Following setting up a trade using Custom and including a target, exit, and Stop. if i want to change one of those do i just go in and do it or is something special needed to accomplish this? Thank you for your great lesson.
Me too! We try to do many of these in the Trading a Smaller Account webcast. You might want to check it out. Here's the link: ua-cam.com/play/PL8a6s5nq1lPTEQmYbc6yEslQvWdqsu0N-.html&si=jvQYSy7C_pxrKQS2 ^Barb
Excellent! Here's a link to the Getting Started with Options webcast series:ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=LFIQWxCDoie4ffFM Binge learning at it's finest:) ^Barb
Thanks for the class BA. question - for the commission for each leg do you multiply that by 100 as well meaning it actually costs an additional $65 for every buy/sell on TOP of the option contract price? Or it's it really actually just a tiny $0.65 commission each way (buy/sell)? Thanks. I'll slowly get thru this..... All the best
For a long call, the transaction fee is .65 per call bought or sold. It is NOT multiplied by 100 - so depending on the price of the call, it can actually be a relatively tiny fee. ^barb
The small green candle at the end of the flag is not a close above the high of the low day the next green candle is the candle that is the close above the high of the low day. Would be your entry signal?
The entry signal is up to the individual trader. Some will wait for a CAHOLD (Close Above the High of Low Day), others might enter earlier on the bounce, particularly if the stock is in a strong uptrend. ^Barb
I do not have a tutorial on how to create a scan (or screen) for stock with high IV but it could be created. There are 2 classes dedicated to thinkorswim. I'm sure there will be upcoming classes dedicated to creating scans on this platform. ^Barb
A trader has the choice on whether or not they want to use a stop. Their trading plan might be to not manage the trade once it is placed & risk the entire premium knowing that losing 100% of the premium is a possibility. ^Barb
@@tradertalkswebcasts ok thanks, I was wondering is it explained in your video somewhere if the long call goes into the money, instead of closing the call you resell the long call. When you resell call, do you make the new difference the premium you sell it at? And then also if the person who you sell it to wants to close it and buy the share of you, do you go back to the person you bought it off and also close it to buy the shares of that person ?
This series is a great starting point into the world of options. Super Thanks!
I'm happy that you are finding them helpful! ^Barb
❤ you, Barbara. You're my favorite Schwab coach
Thank you. I appreciate the compliment. ^Barb
Barbara did an excellent job, so much information in the lesson. Barbara's pace was perfect for me, thank you very much
You're very welcome! ^Barb
You are an excellent coach, Barbara! Thank you!
You're so welcome! Appreciate the compliment. ^Barb
Barbara thank you so much. I’ve learned so much from your posts. You explained that makes it easy to learn. You are the best. Thanks
You're welcome. I'm happy that you are finding the Getting Started with Options series helpful. Here's the link to the entire series:ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=qWwOHk3PZlLjnaoB Enjoy. ^Barb
Great job. You are a good teacher sis!
Thank you! 😊 I appreciate the positive feedback. Here is the link to the entire Getting Started with Options series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=qWwOHk3PZlLjnaoB ^Barb
I have been struggling with the concepts of options for literally years; this is the best tutorial I have seen and simplifies the mystery for me. Something obvious to most is "losing all of your principle" - No, you lose your option money, NOT as if you are losing principle in the stock itself. Hence: "Option to buy" NOT obligation. I was overthinking it. Thank you!
I'm so glad you found this helpful. Here is the link to the entire Getting Started with Options series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=tj3x_jTDD_bTpaGV Enjoy. ^Barb
Thank you Barbra, your pace was great. i am new to Option trading.
Welcome to the world of options. I appreciate the feedback. Keep coming back. Here is the link to the entire Getting Started with Options series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=04uSQDjy8K6xLfRz ^Barb
I am Jan and I am just trying to learn more about option trading. Thank you so much for this wonderful series!
I am so glad you are finding it helpful. ^Barb
Thank you...this series is so helpful...so excited about learning more and more about Options from the best!!
I am happy to hear that you are finding it helpful. Keep coming back. ^Barb
Barbara,
I'm a newbie to options. So glad I found you. I find your content, explanations, and visuals..easy to understand. In other words, spot on! Thank you!
You are so welcome! Here's the link to the Getting Started with Options webcast series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=eHh7KWaGfXYS8M4j Enjoy. ^Barb
Thank you so much these classes are amazing!!
Glad you think so! Here is the link to the Getting Started with Options series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=TTovhlEbUvGCEUkT Enjoy. ^Barb
Good session Barbara thanks for sharing the insights and resources too.
My pleasure! ^Barb
Master class!!
Thanks. So glad you found it helpful. Here is the link to the Getting Started with Options webcast series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=TTovhlEbUvGCEUkT ^Barb
Thanks Barbara, looking forward to starting this series from the beginning. I get all the verticals mixed up.
Wonderful! It's a lot to take in when you first get started. Keep coming back and you'll be amazed at how much you'll learn over time! ^Barb
I am failry new to options trading, and found this class very informative, greatly appreciate training.
Glad it was helpful! Here is the link to the Getting Started with Options webcast series: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=3O6wYKmCiKlK95hm ^Barb
Excellent review!
Thank you kindly! I hope you found it helpful. ^Barb
Wonderful review.
Glad you liked it! There is an entire Getting Started with Options series as you may know. Here's the link: ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=mnxdxI9NIBcMV1P6 ^Barb
Ok, I get it!! uncovered calls, the risk is unlimited.. but I always work with limited calls..
In 'trader speak', it is referred to as a 'covered call' when you sell a call and own the shares that would be sold if the call is exercised. ^Barb
Hey Barbara thanks so much for this! One question at 21:50 you describe how to setup an OCO bracket to set a target and exit. You show how to set the target by stock price but you set the exit ( or stop ) by percentage. Can you tell me how to set the exit by stock price as well? I have been trying to do it on my own but something doesn't look right . Thanks in advance!
Great question. It's easier to demonstrate than describe, but you basically want to set it up as a market order to sell, GTC, & then click the sprocket on the far right side which brings up a conditional page. There you can enter the stock price at which you would like to exit. You could also call the trade desk and they would be happy to walk you through the process and can share a screen with you if needed (1-800-435-9050). Lastly, you can book an appointment with a thinkorswim specialist if you are new to thinkorswim or have several questions. Here's the link to book a complimentary session: . Click Link to register: bit.ly/3Pa5wzo ^Barb
Hi Barbara, at timestamp @12:00 you mentioned that the Options volume should be 20x … I didn’t understand that part… 20x relative to what metric? Is there a way we can check historical volume, or is there some other way to measure the 20x ?
Good question. An example requirement might be that the trader wants to see at least 20X the number of contracts he/she is considering trading already appearing in Open Interest & Volume. So if a trader is considering trading 5 contracts, they might want to see at least 100 contracts already 'on the books'. ^Barb
@@tradertalkswebcasts Thanks Barb.
Iam sure Barb now's her stuff, I used to be a software engineer, My Dad Went to school @ Purdue University, I am 69 and retired UWEC, UW Madison, and FIT
Hi Barbara very good presentation
can you make detail video on option condition order. I want to learn because i cant watch market all day. thanks
I believe t hat Connie covers placing conditional orders in this webcast: ua-cam.com/video/-Er6nI9aryo/v-deo.htmlsi=7p28N4QG_vmcyhNe ^Barb
good1
Thanks. Happy you found it helpful. ^Barb
Nicely done. One of the challenges in using TOS (coming from Tradestation) is that TOS is more forms-based or forms-heavy as opposed to Tradestation, where I visually place and see the stop and limit on the chart. What is your experience ?
Thinkorswim is the only trading platform I have ever used so I really have nothing to compare it to. You can, with a simple click have you target exits and stops appears on the charts. (Click on the sprocket on the chart, choose show orders). I will often manually add my targets to the charts. I find that helpful as well. ^Barb
@@tradertalkswebcasts I see them now, thank you. That versatile disappearing sprocket !
Hello! I really appreciate all of your presentations!! I have decided I don't like mixing Stock Price with Premium. It confuses me. So what type of trade would I place if I want to Buy a Call and set the Premium Target and Premium Stop. You may have shown us this but I can't remember which lesson it was. Thanks!!
I don't think I have placed an example long option trade where both the target and the exit were based on the price of the option. Instead of placing a target with a conditional exit based on the price of the stock, the trader would just put the desired target value of the option.
Following setting up a trade using Custom and including a target, exit, and Stop. if i want to change one of those do i just go in and do it or is something special needed to accomplish this? Thank you for your great lesson.
Yes, you can go to working orders and choose cancel/replace. ^Barb
I like base hits
Me too! We try to do many of these in the Trading a Smaller Account webcast. You might want to check it out. Here's the link: ua-cam.com/play/PL8a6s5nq1lPTEQmYbc6yEslQvWdqsu0N-.html&si=jvQYSy7C_pxrKQS2 ^Barb
Catching up
Excellent! Here's a link to the Getting Started with Options webcast series:ua-cam.com/play/PL8a6s5nq1lPRcGlhhMLSqx1BK1rttI00R.html&si=LFIQWxCDoie4ffFM Binge learning at it's finest:) ^Barb
Thanks for the class BA. question - for the commission for each leg do you multiply that by 100 as well meaning it actually costs an additional $65 for every buy/sell on TOP of the option contract price? Or it's it really actually just a tiny $0.65 commission each way (buy/sell)? Thanks. I'll slowly get thru this..... All the best
For a long call, the transaction fee is .65 per call bought or sold. It is NOT multiplied by 100 - so depending on the price of the call, it can actually be a relatively tiny fee. ^barb
The small green candle at the end of the flag is not a close above the high of the low day the next green candle is the candle that is the close above the high of the low day. Would be your entry signal?
The entry signal is up to the individual trader. Some will wait for a CAHOLD (Close Above the High of Low Day), others might enter earlier on the bounce, particularly if the stock is in a strong uptrend. ^Barb
Do you have a tutorial on how to use TDA to screen daily for Stocks with high IV which are making a move
I do not have a tutorial on how to create a scan (or screen) for stock with high IV but it could be created. There are 2 classes dedicated to thinkorswim. I'm sure there will be upcoming classes dedicated to creating scans on this platform. ^Barb
Why do you put a stop in to get out if price goes low, wouldn't you just let the call expire and just lose your premium ?
A trader has the choice on whether or not they want to use a stop. Their trading plan might be to not manage the trade once it is placed & risk the entire premium knowing that losing 100% of the premium is a possibility. ^Barb
@@tradertalkswebcasts ok thanks, I was wondering is it explained in your video somewhere if the long call goes into the money, instead of closing the call you resell the long call. When you resell call, do you make the new difference the premium you sell it at? And then also if the person who you sell it to wants to close it and buy the share of you, do you go back to the person you bought it off and also close it to buy the shares of that person ?
If you are watching on your phone, screenshot the slides
Given that this presentation is archived, it is simple to 'rewind' and take notes as well. ^Barb
Did you know you can get out on the option chain name instead of the underlying
I don't quite understand what you mean here.
Buy long and sell short
You are correct. In the world of trading, long = buy and short = sell. So, a long call means that you have bought a call to open the position. ^Barb
I`m good at selling puts but terrible and buying calls.
I would recommend doing a lot of practice trades in your paperMoney account to develop mastery. ^Barb
She is a day trader
If you are referring to me, you are mistaken. I am not a day trader and, at Schwab, we currently have no classes dedicated to day trading. ^Barb
Index files
Index files? Do you have a question about trading indexes?? ^Barb
Do not buy what you cannot aford , tooo lose
You are correct. When you buy a call, it is possible to lose 100% of what you paid to enter the trade. That is why position sizing is critical. ^Barb