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Options Crash Course

Dr. Jim Schultz hits all the basic concepts, topics, and strategies that surround the world of options trading. If you're looking to get into derivatives, don't miss this crash course!

Plus, check out the next Crash Course on Strategy Management!

Options Crash Course: Ep #1 - The Source of All Strategies
Sep 8, 2020
Tastytrade’s Option Crash Course kicks off with option contract fundamentals, marker maker facilitation, and the four basic option types.
Options Crash Course: Ep #2 - Deconstructing Option Prices
Sep 10, 2020
Ep #2 of Tastytrade's Options Crash Course, we learn option prices break down into intrinsic and extrinsic value per the Black-Scholes Model.
Options Crash Course: Ep #3 - Extrinsic Value Extras
Sep 10, 2020
At tastytrade, Extrinsic Value alone is arguably the most important concept across all of our strategies, and it is most impacted by time and volatility.
Options Crash Course: Ep #4 - Profit, Direction, and Probability
Sep 11, 2020
Delta is arguably the most flexible Greek, measuring option price movement, directional risk, and probability, all at the same time.
Options Crash Course: Ep #5 - The Natural Decay of Options
Sep 14, 2020
As premium sellers who focus on out-of-the-money options, we can position our portfolios to take advantage of the natural decay of option prices
Options Crash Course: Ep #6 - Trading Changes in Implied Volatility
Sep 15, 2020
The tendency for volatility to both contract and mean revert affords us some very distinct opportunities as premium sellers.
Options Crash Course: Ep #7 - Gamma: Sign, Magnitude, and Risk
Sep 17, 2020
While the sign of gamma is critically important for us to understand our positions, the actual magnitude of gamma is far less important.
Options Crash Course: Ep #8 - Contracts, Decay, and IV Overstatement
Sep 17, 2020
Today in Tastytrade’s Options Crash Course, we wanted to take the opportunity to dive deeper into option contracts, theta decay over time, and IV.
Options Crash Course: Ep #9 - Defined-Risk Strategies: Part One
Sep 18, 2020
To kick off our understanding of defined-risk option strategies, we dive into Vertical Spreads and Iron Condors.
Options Crash Course: Ep #10 - Defined-Risk Strategies: Part Two
Sep 21, 2020
After seeing how Vertical Spreads and Iron Condors establish their directional bias, we now want to better understand their risk/return profiles.
Options Crash Course: Ep #11 - Undefined-Risk Strategies: Part One
Sep 22, 2020
In this episode of Tastytrade’s Options Crash Course, we dive into the pure Greek exposure and higher POPs that undefined-risk strategies offer.
Options Crash Course: Ep #12 - Undefined-Risk Strategies: Part Two
Sep 23, 2020
There is a huge difference between undefined-risk strategies and defined-risk strategies with POPs and Rolls.
Options Crash Course: Ep #13 - Managing Winners, Losers, and Rolling
Sep 24, 2020
Our default target on most short premium positions is 50% of max profit, and taking off losing positions at 2x to 3x of credit received is a sensible start
Options Crash Course: Ep #14 - Directional Bias at the Portfolio Level
Sep 25, 2020
At the portfolio level, a case can be made for bullish deltas, bearish deltas, or neutral deltas, so we explore tastytrade’s reasons for each
Options Crash Course: Ep #15 - Positive Theta at the Portfolio Level
Sep 28, 2020
Once we remember that theta is never the only thing driving the profitability of our positions at tastytrade, we can establish some foundational targets.
Options Crash Course: Ep #16 - Putting It All Together: Trade Entry & Exit
Sep 29, 2020
In Tastytrade’s Options Crash Course today, we lay out a step-by-step process for using all of the tools we’ve learned thus far to execute a strategy.
Options Crash Course: Ep #17 - Putting it all Together: Trade Management
Oct 1, 2020
In the final episode of Tastytrade’s Options Crash Course, we give a detailed overview of adjusting defined-risk strategies and undefined-risk strategies

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