Who Should Take Option Pit Gold Course
Have you learned all the basics? Are you an active stock trader who uses covered calls and protective puts to increase portfolio performance and generate income? Have you read advanced options trading books and feel you need more before a move into active option trading. This options mentoring and coaching program is taught live by a seasoned instructor. If you are ready for the most intensive, live options mentoring program on the street, this is the course for you.
The Option Pit Gold Level Course
The Gold Course was designed by two previous floor traders, and created with each of their personal training and experience in mind. It has been set up in a format much like a college course. It is by far the most in depth course out there at a fraction of the cost of other programs. It is also taught by two educators who, most importantly, consider themselves traders first. With this background they are able to teach students the work necessary to read the market and not shortcuts or tricks. Along with the high standard of educators, the restricted class size of 10 allows each students time to ask questions, and each mentor is able to follow his/her progress individually, whether through course time or in each student's weekly homework. This course takes the traders in one of the largest steps of their education from beginner trader to active trader with a complete background.
To further assist trader trainees, on Friday’s there is a follow up ‘open study hall’ to ask one of our educators follow up questions and for help with homework. Three months of Option Pit Live are also included with Option Pit Gold. Upon completion of the Gold Level course traders will receive a one hour one on one mentoring session for free.
What You Will Receive:
- Live Education- Once a week you will have a 1.5 hour class that is taught live in the evenings on the topics listed below. It is recorded for those that cannot attend.
- Trading Lab- Once a week mid-day on Thursdays you will have a lab in which you learn how to put the theories into practice. It will explore your education in relation to the current market and historical market situations. Again, this will be recorded and put on the site.
- Study Hall- Once a week on Mondays you will have a 45 minute Study Hall. In this time,you can stop in and answer questions or remain to listen to other student's questions. This too will be recorded and placed on the site for your review.
- Homework Review- You will have weekly homework along with the course. If it is submitted to your educator, you will receive corrections and comments in order to help you move through each topic.
Topics Covered are:
- The Pricing Model-The beginning level for the Gold Course reveals the Option Pricing model and the 5 factors and assumptions that make options move. This is the essential “Pre Greeks” level
- Volatility-Understanding market volatility is a core principal at Option Pit. The major volatility factors and indicators that drive trading decisions are laid out in detail.
- Greeks-The Greeks are a tool to help understand the movement of option prices and are essential to the basics of position management. We start by covering Delta, Gamma and Rho. The 2nd part of the Greeks course focuses on the Gamma/Theta relationship and Vega. These Greeks are applied to market conditions to help predict option movement and advanced trade structure.
- Volatility Revisited-This is the first applied volatility workshop where students see how the market uses volatility, term structure and skew. Students will learn how to read different market conditions.
- Directional Trading-Directional Trading is the fully applied knowledge of the Greeks and Volatility for best case trade selection to keep decisions on the right side of the market.
- Trading Volatility-Option Trading moves away from the distinction between calls and puts and looks at Option Volatility as a strategic asset. Students look at trading volatility and harness mean reversion.
- Condor-Learn volatility trading through the Condor strategy. The good, bad and ugly setups so students will understand the difference between a green light and a red light opportunity.
- Butterfly-Learn volatility and direction trading through the Butterfly strategy. This is where you learn what makes a good option butterfly and a bad one.
- Calendars-The next phase of trading volatility is combining the Greeks with the time component of the term structure in Calendar (Time Spread) trading. This brings all the expiration cycles into the band of opportunity.
- VIX-Understanding how the VIX works is a core competency at Option Pit. The VIX product, VIX futures and VIX ETN's, structure and strategies are covered in the depth.
- Expiration trading and Owning Premium-This is the advanced volatility teaching session that takes option trading to the next level of understanding. Learn to manage a position by focusing just on the Greeks.
- Portfolio Management-Learn to manage an option portfolio (your “Book”) by combining the Greek risk and capital allocation in the most efficient manner to maintain and keep a “balanced” book.
Combined with the Silver Course, the Option Pit Gold Course will provide traders the knowledge they need to begin to trade smartly and effectively. These two courses combined mimic the training market makers are required to learn before they begin trading. The price point is set to limit barriers to entry.