Great Explanation. This was something I wanted everyone to get some experience with while Paper Trading. This way you will get real comfortable with how it all works. Options can be very simple if you just use Puts and Calls, and get pretty pretty complex when you start using Calendar Spreads and other Options to Hedge your Bet or if you think the price will drop and rebound.
There can be very Huge Money in these if done correctly and we actually have a Chart that can can make us a lot of Money Playing Volatile Stocks Using Calls and Puts just like a couple of us did with SNAP the last couple of days.
One thing about Options, When you are up and the Stock starts to slow down and the Chart starts changing, Sell it and get you Money. The Fastest way to lose Money on Options is trying to hold them to long when they start to drop as they lose value very quickly, Usually faster than they Gain Value unless they are in a Fast STP.
This Weekend I am going to Outline some Simple steps to get back to the Basics along with the principles STP chart.
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