Novicetrader, I dont post here much because there greater minds here than mine. If you want to start learning options then take the time to learn direction and more importantly timing which is everything. An options sitting is always losing, we need them to move. Here is an example of what I am saying, an apple weekly has a theata of 1.02 per day. Theta is how much value our option loses in one day. So we are losing about 0.15 per hour on our $5.00. The purpose is not to teach theta but to say if we aint movin we are a losin.
You have some great guys/chartist here. Play along by stock trading their option plays with some $$ to get that timing and practicing direction. Here is how it works. DA called CHK around 15 something, (actually first move was at $10 but anyway he will correct me) and was looking for 17. If you stock trade the same move you would have had a 13% stock move. Not bad in the world of stock trading. N4 called WMT and that would have made you 8% on the stock move by itself. Bug the heck out of them asking why them why they think what they do, but their charts will make it really obvoius. Worse case is these guys make 10 good option trades and your little 8/13% stock trades grow but wait 10 trades x 11% avg return = 110% return. Even if you never trade options doing this will make it worth the time.
Ok over stayed my welcome, just something to think about. Hmmm/
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