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May 24, 2021

10 years of tastytrade

By:Tom Preston

When Tom Sosnoff and I started tastytrade 10 years ago, it was with the goal of revolutionizing financial content.  What investors had to listen to then was CEOs answering softball questions, Wall St. analysts making guesses about stocks disguised by 100-year-old theories, and talking heads reading the Fed’s tea leaves.  Boring, useless, and best forgotten.  So, maybe you think the bar wasn’t that high.  But at tastytrade, we mated the ideas of volatility and probability with strategy and statistics and transformed the way self-directed investors and traders worked to pull money out of the markets.   The trick was to make the hard stuff engaging, and do it for 8 hours a day, every trading day of the year.  Which is why tastytrade has been often imitated, but never duplicated.

Like the way the revolution in financial technology that Tom and I started back in 2000 with thinkorswim spurred competitors to add option spreads, sophisticated metrics, and free streaming data years after we pioneered that stuff, tastytrade has changed financial media.   Before tastytrade, you never heard the words “probability” or “short put” on CNBC, or brokerage firms try to explain how delta works.  The operative word there is “try”.  What we have that they don’t is a research team staffed by PhDs that pushes the boundaries of how we understand markets and interpret data, and a Vonetta (our first hire!) to keep things percolating.  That ain’t easy.  It’s more work than most people in this industry are willing to put in, but we have fun with it.

That’s really what underlies the story of tastytrade, and what you’ll hopefully glean from watching our 10 year anniversary movie.  We have a lot of fun at tastytrade.  We poke fun at the powerful, encourage beginners, and – most importantly – laugh at ourselves.  We don’t brag about winning trades, and own up to the losers.  That’s something you definitely don’t hear anywhere else.  And we understand that we don’t know everything – yet.  But we’ll keep working, building on what we know with new theories and concepts that will hopefully help you and us make money.   

In that way, trading and business are evolutionary.  Did we have any idea in 2010 that we’d someday be starting another brokerage firm with tastytworks?  Or the small exchange?  Hell no.  They filled a vacuum that we saw develop in our business and the industry.  And yes, we had a lot of ideas that just plain stunk.  That’s what being an entrepreneur is.   Our goal is to deliver to you the best content, platforms, and products that that are generations ahead of our competitors, and to never rest on our successes.  It may sound corny, but we truly, sincerely want you to succeed.  To be able to confidently approach managing your money with strategies that make sense to you, and build a better life and more secure financial future for yourself.

So, I won’t even guess what the next 10 years might hold.  We’ll let our business, the market, and our brains guide us.  But stick with tastytrade, stay tuned to our content and engaged with the market.  With our history, we’ll be revolutionizing something else before you know it.

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.

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