Learning options over the years going to the school of hard knocks and developing my own rules has helped...I'm still learning even with hundreds of ops trades under my belt...if you ever want to learn some hard fast rule about options let me know, I can get you up & running & save you from lots of mistakes...not saying I'm the best or perfect, I've just come up with some good rules that do work...when you nail QQQ puts/calls once, you'll be hooked...lol
Seriously though QQQ puts/calls move in dollars, so there some real money to be made when on right side of trade...wrong side of trade is like playing in a poker tournament, you pay the fee to play, that's the most you lose...it's hard to see ops expire worthless, but when you nail a bunch of $5-$10+ trades, you can trade lots of losers & still be ahead...I personally have been implementing hard stops in place based on chart breaks/breakdowns especially the day before ops expire..day of expire, ops prices drop so radically, it's more of a lotto day especially afternoon of expiration....
Sample of what I'd teach:
1) the morning the day before ops expire you can buy up to $4 out of the money
2) the afternoon the day before ops expire you can buy up to $2-3 out of the money, but the later the closer
3) the morning of expire you can buy $1 out of the money
4) the afternoon of expire, especially within last hour, always buy over current price (example if price is 321.90, you'd buy 322's)
that is probably one of my best advice's right there, but I have a bunch of other hard rules too..Let me know if you want to try...I think you only need $25k in account to start options...Good luck
