Who Should Take Option Pit Platinum Course
Do you learn better in a one on one teaching environment? Are you an experienced trader who seldom uses options but wants to learn more? Have you read advanced options trading books and it is still not really making sense? Do you want to learn how to trade stock options from the ground up? If you want individual instruction as you move to live trading this is the course for you.
The Option Pit Platinum Level Course
The Option Pit Platinum Level Course is taught live by our professional option traders and adds one on one mentoring to the Gold Course. In the first twelve weeks of this course, option traders will learn all of the tools necessary to transition into active option trading. During that time a schedule and tutorial will be developed with the individual to make best use of the one on one time with coach and student. Actively mentored live trading and a full evaluation gives our students the confidence and knowledge to move forward on their own.
When the Gold Course portion is concluded, traders will be actively paper trading, and fully prepared to begin trading options live. Then the One on One time with Option bit coaches kicks in to re-enforce the teaching. Now the applied learning begins in full as the coach helps students trade actively.
In addition to the Platinum Course study there is a weekly student led training group meeting to help problem solve and find opportunities in today’s market.. Upon completion of the Platinum Level course traders will receive a one hour one on one evaluation session for free. A 4 month Membership in Option Pit Live keeps the information base growing.
The Platinum Course Topics are:
- An Evaluation to test understanding, develop goals and point out areas of weakness and strength
- Schedule and topics for One on One sessions using live trading subject to the evaluation
- Recap and Review Iron Condors, Butterflies and Calendar Spreads- Paper trading, evaluation and set up lead by the student
- The Gold Course
1) 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.
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.
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.
4) 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.
5) 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.
6) 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.
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.
Learn volatility and direction trading through the Butterfly strategy. This is where you learn what makes a good option butterfly and a bad one.
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.
Understanding how the VIX works is a core competency at Option Pit. The VIX product, VIX futures, structure and beginning strategies are covered in the depth.
11) 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.
12) 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.