Being the overachiever that she is, Brittany decided to jump into the tastyworks platform over the weekend. She noticed that the more and more she clicked around the platform, the more and more anxious she grew. Dr. Jim reassured her that this anxiety will subside over the next few months. Brittany brought important questions to the table as well. Not before long though, Dr. Jim jumped right into today's materials.
Brittany learned that in an option contract there are two parties whose desired outcomes are mutually exclusive, each wanting the opposite to happen to the other party. She also learned that in the world of options trading the lingo can be very confusing to a new trader. She knows now that she needs to create a thesaurus for all these new terms like long-buy, short-sell, SPY-spider, and so on and so forth. Brittany's important takeaway of the day is to grasp the understanding that the ability to "use" options rests on the long (buyer) side. Dr. Jim & Brittany went briefly over calls and puts, where she is starting to grasp the understanding of calls, though the puts are a little trickier. Dr. Jim informed her that this is very common amongst new option traders, and they would continue with this topic tomorrow.