Options tutorial
Gary Savage
0:00 all right I'm going to do a video on
0:03 all right I'm going to do a video on
0:03 all right I'm going to do a video on options how to buy options how to trade
0:05 options how to buy options how to trade
0:05 options how to buy options how to trade options um I think leaps as I said I
0:08 options um I think leaps as I said I
0:08 options um I think leaps as I said I think leaps are going to be our best um
0:12 think leaps are going to be our best um
0:12 think leaps are going to be our best um tool for trying to trade the metals the
0:15 tool for trying to trade the metals the
0:15 tool for trying to trade the metals the rest of this Metals Market with leverage
0:17 rest of this Metals Market with leverage
0:17 rest of this Metals Market with leverage uh if you're trying to trade this with
0:19 uh if you're trying to trade this with
0:19 uh if you're trying to trade this with nugget or something like that I just I
0:22 nugget or something like that I just I
0:22 nugget or something like that I just I don't think you're going to have much
0:23 don't think you're going to have much
0:23 don't think you're going to have much success and I and I have not had much
0:26 success and I and I have not had much
0:26 success and I and I have not had much success trying to trade my small
0:30 success trying to trade my small
0:30 success trying to trade my small challenge account with
0:33 challenge account with
0:33 challenge account with leverage
0:34 leverage
0:34 leverage um so anyway here's what an option chain
0:37 um so anyway here's what an option chain
0:37 um so anyway here's what an option chain looks like so this is this is the
0:39 looks like so this is this is the
0:39 looks like so this is this is the November options but let's let's go
0:42 November options but let's let's go
0:42 November options but let's let's go to um let's go to the leaps and leaps
0:46 to um let's go to the leaps and leaps
0:46 to um let's go to the leaps and leaps are just long-term expiration options so
0:50 are just long-term expiration options so
0:50 are just long-term expiration options so you can see I'm scrolling down here to
0:52 you can see I'm scrolling down here to
0:52 you can see I'm scrolling down here to the uh January of 2026 expiration this
0:56 the uh January of 2026 expiration this
0:56 the uh January of 2026 expiration this is what you should be buying um and this
0:58 is what you should be buying um and this
0:58 is what you should be buying um and this is in SLV these are the SLV
1:03 is in SLV these are the SLV
1:03 is in SLV these are the SLV options now you will have to get your if
1:06 options now you will have to get your if
1:06 options now you will have to get your if it's not already you will have to get
1:07 it's not already you will have to get
1:07 it's not already you will have to get your account approved uh to trade
1:10 your account approved uh to trade
1:10 your account approved uh to trade options so you want to just uh there'll
1:12 options so you want to just uh there'll
1:12 options so you want to just uh there'll be some questions that you want to ask
1:14 be some questions that you want to ask
1:14 be some questions that you want to ask you'll just want to say that you've got
1:16 you'll just want to say that you've got
1:16 you'll just want to say that you've got experience and um basically you're just
1:21 experience and um basically you're just
1:21 experience and um basically you're just you just want to buy um calls for
1:25 you just want to buy um calls for
1:25 you just want to buy um calls for speculation um we're not really going to
1:27 speculation um we're not really going to
1:27 speculation um we're not really going to buy puts or anything like that but um
1:29 buy puts or anything like that but um
1:29 buy puts or anything like that but um you're not going to be doing complex
1:31 you're not going to be doing complex
1:31 you're not going to be doing complex strategies like straddles and um
1:33 strategies like straddles and um
1:33 strategies like straddles and um strangles and that kind of stuff we're
1:35 strangles and that kind of stuff we're
1:35 strangles and that kind of stuff we're we're just going to be D buying
1:37 we're just going to be D buying
1:37 we're just going to be D buying directional option uh trades uh to play
1:41 directional option uh trades uh to play
1:41 directional option uh trades uh to play the rest of the bull market in metals so
1:45 the rest of the bull market in metals so
1:45 the rest of the bull market in metals so this is the January uh 2026 expiration
1:49 this is the January uh 2026 expiration
1:49 this is the January uh 2026 expiration right here it'll be down towards the
1:50 right here it'll be down towards the
1:50 right here it'll be down towards the bottom of your option change you can see
1:52 bottom of your option change you can see
1:52 bottom of your option change you can see you've got November of 25 October of 25
1:55 you've got November of 25 October of 25
1:55 you've got November of 25 October of 25 and you can you know you'll have these
1:57 and you can you know you'll have these
1:57 and you can you know you'll have these same kind of option chains for DDX
2:00 same kind of option chains for DDX
2:00 same kind of option chains for DDX although I
2:01 although I
2:01 although I prefer SLV the um spreads are really
2:05 prefer SLV the um spreads are really
2:05 prefer SLV the um spreads are really tight in for the most part in SLV so I
2:09 tight in for the most part in SLV so I
2:09 tight in for the most part in SLV so I like those the best so if you were going
2:11 like those the best so if you were going
2:11 like those the best so if you were going to buy say today my uh recommendation is
2:15 to buy say today my uh recommendation is
2:15 to buy say today my uh recommendation is either one strike in the money and you
2:17 either one strike in the money and you
2:17 either one strike in the money and you can see yellow is in the money so one
2:20 can see yellow is in the money so one
2:20 can see yellow is in the money so one strike in the money would be the
2:22 strike in the money would be the
2:22 strike in the money would be the 28s at most two strikes out you'll get a
2:26 28s at most two strikes out you'll get a
2:26 28s at most two strikes out you'll get a little bit more leverage if you're uh if
2:29 little bit more leverage if you're uh if
2:29 little bit more leverage if you're uh if you're out out of the money but your
2:31 you're out out of the money but your
2:31 you're out out of the money but your risk of losing everything becomes
2:33 risk of losing everything becomes
2:33 risk of losing everything becomes greater because you have to move past
2:35 greater because you have to move past
2:35 greater because you have to move past that strike in order uh to salvage
2:38 that strike in order uh to salvage
2:38 that strike in order uh to salvage anything you the underlying could move
2:41 anything you the underlying could move
2:41 anything you the underlying could move but just not move enough I I see people
2:44 but just not move enough I I see people
2:44 but just not move enough I I see people buying like 10 strikes out of the money
2:46 buying like 10 strikes out of the money
2:46 buying like 10 strikes out of the money which is just ridiculous um you could
2:49 which is just ridiculous um you could
2:49 which is just ridiculous um you could your underlying could move 90% and it's
2:52 your underlying could move 90% and it's
2:52 your underlying could move 90% and it's still not enough to bring that option
2:53 still not enough to bring that option
2:54 still not enough to bring that option into the money so you end up losing
2:55 into the money so you end up losing
2:55 into the money so you end up losing everything even though the uh the market
2:58 everything even though the uh the market
2:58 everything even though the uh the market moved 90 % in the direction that you
3:01 moved 90 % in the direction that you
3:01 moved 90 % in the direction that you wanted problem was you just bought way
3:03 wanted problem was you just bought way
3:03 wanted problem was you just bought way too far out of the money thinking it was
3:05 too far out of the money thinking it was
3:05 too far out of the money thinking it was cheap and so you wanted to buy cheap
3:08 cheap and so you wanted to buy cheap
3:08 cheap and so you wanted to buy cheap whereas cheap meant extreme risk and
3:11 whereas cheap meant extreme risk and
3:11 whereas cheap meant extreme risk and then you don't get a big enough move to
3:14 then you don't get a big enough move to
3:14 then you don't get a big enough move to cover that huge uh spread and you end up
3:18 cover that huge uh spread and you end up
3:18 cover that huge uh spread and you end up just losing everything even though the
3:20 just losing everything even though the
3:20 just losing everything even though the uh silver moved like 90% so um one or
3:24 uh silver moved like 90% so um one or
3:24 uh silver moved like 90% so um one or two strikes out of the money Max you
3:27 two strikes out of the money Max you
3:27 two strikes out of the money Max you don't go any further out of the money
3:29 don't go any further out of the money
3:29 don't go any further out of the money than that I would prefer you be in the
3:31 than that I would prefer you be in the
3:31 than that I would prefer you be in the money or even a couple or two or three
3:33 money or even a couple or two or three
3:33 money or even a couple or two or three strikes in the money would be better in
3:36 strikes in the money would be better in
3:36 strikes in the money would be better in my opinion also you need to use limit
3:38 my opinion also you need to use limit
3:38 my opinion also you need to use limit orders with options and you don't want
3:41 orders with options and you don't want
3:41 orders with options and you don't want to trade you definitely do not want to
3:43 to trade you definitely do not want to
3:43 to trade you definitely do not want to trade and this is very important pay
3:45 trade and this is very important pay
3:45 trade and this is very important pay attention to this play this part back
3:47 attention to this play this part back
3:47 attention to this play this part back several times you do not ever want to
3:51 several times you do not ever want to
3:51 several times you do not ever want to make a market um you don't want to buy
3:54 make a market um you don't want to buy
3:54 make a market um you don't want to buy at the market or sell at the market
3:57 at the market or sell at the market
3:57 at the market or sell at the market first thing when the Market opens you
3:59 first thing when the Market opens you
3:59 first thing when the Market opens you will get
4:01 will get
4:01 will get raped um the spreads will be gigantic
4:05 raped um the spreads will be gigantic
4:05 raped um the spreads will be gigantic for about the first 30 seconds and that
4:07 for about the first 30 seconds and that
4:07 for about the first 30 seconds and that and that's by Design the market makers
4:09 and that's by Design the market makers
4:09 and that's by Design the market makers are trying to find uh a Gumby that is
4:12 are trying to find uh a Gumby that is
4:12 are trying to find uh a Gumby that is going to place a market order right at
4:15 going to place a market order right at
4:15 going to place a market order right at the open and so like for for this um as
4:20 the open and so like for for this um as
4:20 the open and so like for for this um as as an example let's say and this is
4:22 as an example let's say and this is
4:22 as an example let's say and this is really um mostly it it applies either
4:26 really um mostly it it applies either
4:26 really um mostly it it applies either buying or selling but mostly un selling
4:28 buying or selling but mostly un selling
4:28 buying or selling but mostly un selling so you let's say you want to get out of
4:30 so you let's say you want to get out of
4:30 so you let's say you want to get out of your position and um you see that the uh
4:35 your position and um you see that the uh
4:35 your position and um you see that the uh ask here is 4070 so you just place a a
4:41 ask here is 4070 so you just place a a
4:41 ask here is 4070 so you just place a a market order to sell your position
4:45 market order to sell your position
4:45 market order to sell your position thinking that it's going to fill at 4070
4:49 thinking that it's going to fill at 4070
4:49 thinking that it's going to fill at 4070 what you haven't noticed is that this
4:51 what you haven't noticed is that this
4:51 what you haven't noticed is that this bid is at 2 let's say 250 or or even
4:54 bid is at 2 let's say 250 or or even
4:54 bid is at 2 let's say 250 or or even a150 there there's just this gigantic
4:57 a150 there there's just this gigantic
4:57 a150 there there's just this gigantic spread between the bid and the ask
5:00 spread between the bid and the ask
5:00 spread between the bid and the ask if you allow the market maker um with a
5:04 if you allow the market maker um with a
5:04 if you allow the market maker um with a market order he will fill your your cell
5:08 market order he will fill your your cell
5:08 market order he will fill your your cell at $150 and you will just get raped and
5:12 at $150 and you will just get raped and
5:12 at $150 and you will just get raped and and you'll have no recourse to get that
5:14 and you'll have no recourse to get that
5:14 and you'll have no recourse to get that back you will have just made a huge
5:16 back you will have just made a huge
5:16 back you will have just made a huge gigantic error and trust me I've done
5:18 gigantic error and trust me I've done
5:18 gigantic error and trust me I've done this once and it only took once for me
5:20 this once and it only took once for me
5:20 this once and it only took once for me to learn my
5:22 to learn my
5:22 to learn my lesson so if you're going to sell early
5:24 lesson so if you're going to sell early
5:24 lesson so if you're going to sell early in the morning what you do is you place
5:26 in the morning what you do is you place
5:26 in the morning what you do is you place a uh limit order always always use limit
5:30 a uh limit order always always use limit
5:30 a uh limit order always always use limit orders with options period but you would
5:33 orders with options period but you would
5:33 orders with options period but you would place a limit order in this case say
5:35 place a limit order in this case say
5:35 place a limit order in this case say it's the ask is at 460 I would start by
5:38 it's the ask is at 460 I would start by
5:38 it's the ask is at 460 I would start by placing a limit order at
5:40 placing a limit order at
5:40 placing a limit order at $4.50 even though this might be uh and
5:44 $4.50 even though this might be uh and
5:44 $4.50 even though this might be uh and this would even work like right now uh
5:47 this would even work like right now uh
5:47 this would even work like right now uh the the offer or the bid is at 405 well
5:52 the the offer or the bid is at 405 well
5:52 the the offer or the bid is at 405 well you're not actually that's not actually
5:54 you're not actually that's not actually
5:54 you're not actually that's not actually a true bid the the real bid is probably
5:57 a true bid the the real bid is probably
5:57 a true bid the the real bid is probably somewhere around 440 445
6:00 somewhere around 440 445
6:00 somewhere around 440 445 but I would start and place a bid to
6:02 but I would start and place a bid to
6:02 but I would start and place a bid to sell this is to be to sell at $4.50 and
6:06 sell this is to be to sell at $4.50 and
6:06 sell this is to be to sell at $4.50 and give it a couple minutes if it's going
6:07 give it a couple minutes if it's going
6:07 give it a couple minutes if it's going to fill it'll fill if not then change it
6:11 to fill it'll fill if not then change it
6:11 to fill it'll fill if not then change it to uh
6:13 to uh
6:13 to uh $445 same thing give it a minute or two
6:15 $445 same thing give it a minute or two
6:16 $445 same thing give it a minute or two and see if it's going to fill and then
6:17 and see if it's going to fill and then
6:17 and see if it's going to fill and then work your way down until it finally gets
6:19 work your way down until it finally gets
6:19 work your way down until it finally gets filled it's going to fill above this
6:21 filled it's going to fill above this
6:21 filled it's going to fill above this it's not going to fill at
6:23 it's not going to fill at
6:23 it's not going to fill at
6:24 um so um you know that is very very very
6:28 um so um you know that is very very very
6:28 um so um you know that is very very very important you have to use limit orders
6:31 important you have to use limit orders
6:31 important you have to use limit orders on options and especially first thing in
6:33 on options and especially first thing in
6:33 on options and especially first thing in the morning you absolutely have to use a
6:36 the morning you absolutely have to use a
6:36 the morning you absolutely have to use a limit order or the market makers will
6:39 limit order or the market makers will
6:39 limit order or the market makers will just they will they'll destroy you they
6:43 just they will they'll destroy you they
6:43 just they will they'll destroy you they will they will rip you off um to you
6:48 will they will rip you off um to you
6:48 will they will rip you off um to you will be beating your head against the
6:49 will be beating your head against the
6:49 will be beating your head against the wall and your wife will divorce you so
6:52 wall and your wife will divorce you so
6:52 wall and your wife will divorce you so do not ever place a market order with
6:57 do not ever place a market order with
6:58 do not ever place a market order with options now I can't stress this enough
7:01 options now I can't stress this enough
7:01 options now I can't stress this enough uh the my my recommendation I think most
7:04 uh the my my recommendation I think most
7:04 uh the my my recommendation I think most of you know it maybe You' tried to
7:07 of you know it maybe You' tried to
7:07 of you know it maybe You' tried to ignore it but um the only way I'm going
7:10 ignore it but um the only way I'm going
7:10 ignore it but um the only way I'm going to give my blessing for you to put 20%
7:14 to give my blessing for you to put 20%
7:14 to give my blessing for you to put 20% of your investable Capital into leaps
7:16 of your investable Capital into leaps
7:16 of your investable Capital into leaps not into anything else I am never going
7:19 not into anything else I am never going
7:19 not into anything else I am never going to give you permission to put 20% of
7:22 to give you permission to put 20% of
7:22 to give you permission to put 20% of your investable Capital into these
7:24 your investable Capital into these
7:24 your investable Capital into these November
7:25 November
7:25 November 2024 uh options not enough time you
7:29 2024 uh options not enough time you
7:29 2024 uh options not enough time you won't won't be able to survive a
7:30 won't won't be able to survive a
7:31 won't won't be able to survive a volatile move like yesterday in this if
7:33 volatile move like yesterday in this if
7:33 volatile move like yesterday in this if you're down here to you know next year
7:35 you're down here to you know next year
7:35 you're down here to you know next year January of next year Well of
7:37 January of next year Well of
7:37 January of next year Well of 20126 then things that happen like
7:41 20126 then things that happen like
7:41 20126 then things that happen like tomorrow and there's going to be a lot
7:42 tomorrow and there's going to be a lot
7:42 tomorrow and there's going to be a lot of those and they're going to get worse
7:44 of those and they're going to get worse
7:44 of those and they're going to get worse you can ignore that because you know
7:45 you can ignore that because you know
7:46 you can ignore that because you know you've got more than a year for this
7:47 you've got more than a year for this
7:47 you've got more than a year for this thing to work there's no reason to panic
7:50 thing to work there's no reason to panic
7:50 thing to work there's no reason to panic but if you're in November or October
7:52 but if you're in November or October
7:52 but if you're in November or October there's reason to panic you you we might
7:54 there's reason to panic you you we might
7:54 there's reason to panic you you we might be setting up to go sideways for a while
7:57 be setting up to go sideways for a while
7:57 be setting up to go sideways for a while maybe the cartel um is able
8:01 maybe the cartel um is able
8:01 maybe the cartel um is able to I don't know that they're going to be
8:03 to I don't know that they're going to be
8:03 to I don't know that they're going to be able to stop the rally but they might be
8:05 able to stop the rally but they might be
8:05 able to stop the rally but they might be able to delay it you know we watch them
8:07 able to delay it you know we watch them
8:07 able to delay it you know we watch them as they uh delayed the move above 2550
8:11 as they uh delayed the move above 2550
8:11 as they uh delayed the move above 2550 for almost 3 weeks that could happen
8:13 for almost 3 weeks that could happen
8:13 for almost 3 weeks that could happen again you don't have to worry about that
8:15 again you don't have to worry about that
8:15 again you don't have to worry about that kind of stuff if you're in the January
8:17 kind of stuff if you're in the January
8:17 kind of stuff if you're in the January 2026 expiration if you're in October or
8:21 2026 expiration if you're in October or
8:21 2026 expiration if you're in October or November you got to worry about that
8:23 November you got to worry about that
8:23 November you got to worry about that stuff and you may have to panic sell and
8:25 stuff and you may have to panic sell and
8:25 stuff and you may have to panic sell and lose money uh and you don't really want
8:28 lose money uh and you don't really want
8:28 lose money uh and you don't really want to you don't want to be forced to p
8:29 to you don't want to be forced to p
8:29 to you don't want to be forced to p Excel by
8:31 Excel by
8:31 Excel by these
8:32 these
8:32 these um short shorter term expiration options
8:37 um short shorter term expiration options
8:37 um short shorter term expiration options you want the luxury of being able to
8:39 you want the luxury of being able to
8:39 you want the luxury of being able to just watch all the shenanigans and it
8:42 just watch all the shenanigans and it
8:42 just watch all the shenanigans and it doesn't bother you a bit the same it
8:45 doesn't bother you a bit the same it
8:45 doesn't bother you a bit the same it basically these leaps are as close as we
8:47 basically these leaps are as close as we
8:47 basically these leaps are as close as we can get to physical and still trade
8:50 can get to physical and still trade
8:50 can get to physical and still trade leverage so that you know that's that's
8:52 leverage so that you know that's that's
8:52 leverage so that you know that's that's what I'm trying to accomplish here we
8:54 what I'm trying to accomplish here we
8:54 what I'm trying to accomplish here we want to trade leverage because we get a
8:55 want to trade leverage because we get a
8:55 want to trade leverage because we get a breakout from a 13-year cup and handle
8:58 breakout from a 13-year cup and handle
8:58 breakout from a 13-year cup and handle so we we want to trade some leverage um
9:02 so we we want to trade some leverage um
9:02 so we we want to trade some leverage um but we need it to be as close to
9:05 but we need it to be as close to
9:05 but we need it to be as close to physical you know the mental stability
9:08 physical you know the mental stability
9:08 physical you know the mental stability as close to physical as we can and
9:10 as close to physical as we can and
9:10 as close to physical as we can and that's what the leaps give us they give
9:12 that's what the leaps give us they give
9:12 that's what the leaps give us they give us the mental stability to just ignore
9:15 us the mental stability to just ignore
9:15 us the mental stability to just ignore these these crazy moves the the attempts
9:18 these these crazy moves the the attempts
9:18 these these crazy moves the the attempts to suppress price or block price for
9:22 to suppress price or block price for
9:22 to suppress price or block price for weeks on end below a resistance Zone you
9:26 weeks on end below a resistance Zone you
9:26 weeks on end below a resistance Zone you can ignore all that in the leaps which
9:28 can ignore all that in the leaps which
9:28 can ignore all that in the leaps which you can't do in shares and you can't do
9:30 you can't do in shares and you can't do
9:30 you can't do in shares and you can't do with short-term options so
9:34 with short-term options so
9:34 with short-term options so um you know I'm I'm going to say again
9:39 um you know I'm I'm going to say again
9:39 um you know I'm I'm going to say again you know anybody taking these short-term
9:42 you know anybody taking these short-term
9:42 you know anybody taking these short-term options um you know you you you can
9:47 options um you know you you you can
9:47 options um you know you you you can light your hair on fire and run through
9:49 light your hair on fire and run through
9:49 light your hair on fire and run through the dynamite Factory and you might even
9:51 the dynamite Factory and you might even
9:51 the dynamite Factory and you might even survive but you're still an idiot so
9:55 survive but you're still an idiot so
9:55 survive but you're still an idiot so don't be an idiot don't be buying these
9:57 don't be an idiot don't be buying these
9:57 don't be an idiot don't be buying these short-term
9:59 short-term
9:59 short-term um options unless you are
10:02 um options unless you are
10:02 um options unless you are completely willing to to lose everything
10:06 completely willing to to lose everything
10:06 completely willing to to lose everything if the the cartel manages to uh let's
10:10 if the the cartel manages to uh let's
10:10 if the the cartel manages to uh let's say suppress price for four weeks they
10:13 say suppress price for four weeks they
10:13 say suppress price for four weeks they they block the price for four weeks and
10:14 they block the price for four weeks and
10:14 they block the price for four weeks and then just all of your your time value is
10:18 then just all of your your time value is
10:19 then just all of your your time value is drained out and then at some point you
10:20 drained out and then at some point you
10:21 drained out and then at some point you you got to panic because you you don't
10:22 you got to panic because you you don't
10:22 you got to panic because you you don't know whether the moov is going to occur
10:24 know whether the moov is going to occur
10:24 know whether the moov is going to occur in time or not you don't have to worry
10:25 in time or not you don't have to worry
10:26 in time or not you don't have to worry about any of that stuff in in the uh 20
10:29 about any of that stuff in in the uh 20
10:29 about any of that stuff in in the uh 20 26 leaps so if any of you are in this
10:33 26 leaps so if any of you are in this
10:33 26 leaps so if any of you are in this this stuff here get out of it today and
10:36 this stuff here get out of it today and
10:36 this stuff here get out of it today and get into the leaps so you don't have to
10:38 get into the leaps so you don't have to
10:38 get into the leaps so you don't have to worry about this and I'm not going to be
10:40 worry about this and I'm not going to be
10:40 worry about this and I'm not going to be getting questions of what should I do
10:41 getting questions of what should I do
10:41 getting questions of what should I do with my November uh call options what
10:44 with my November uh call options what
10:45 with my November uh call options what you should do you should roll them into
10:46 you should do you should roll them into
10:46 you should do you should roll them into leaps and then you won't have to ask
10:48 leaps and then you won't have to ask
10:48 leaps and then you won't have to ask these questions anymore so this is a
10:51 these questions anymore so this is a
10:51 these questions anymore so this is a quick tutorial on on how to use these
10:55 quick tutorial on on how to use these
10:55 quick tutorial on on how to use these options again if you haven't got your
10:57 options again if you haven't got your
10:57 options again if you haven't got your account approved you will need to do
10:59 account approved you will need to do
10:59 account approved you will need to do that Robin Hood does it pretty quickly
11:02 that Robin Hood does it pretty quickly
11:02 that Robin Hood does it pretty quickly uh you need to be very careful with the
11:04 uh you need to be very careful with the
11:04 uh you need to be very careful with the Robin Hood platform though as it's it's
11:06 Robin Hood platform though as it's it's
11:06 Robin Hood platform though as it's it's easy to make mistakes you can like if
11:08 easy to make mistakes you can like if
11:08 easy to make mistakes you can like if you want to add to your position um and
11:12 you want to add to your position um and
11:12 you want to add to your position um and you click on it and you think you're
11:14 you click on it and you think you're
11:14 you click on it and you think you're adding you're actually selling so you
11:16 adding you're actually selling so you
11:16 adding you're actually selling so you could you could like buy maybe you want
11:18 could you could like buy maybe you want
11:18 could you could like buy maybe you want to buy 10 options and then in 30 minutes
11:20 to buy 10 options and then in 30 minutes
11:20 to buy 10 options and then in 30 minutes later you want to add another 10 so you
11:22 later you want to add another 10 so you
11:22 later you want to add another 10 so you you click on your position thinking that
11:24 you click on your position thinking that
11:24 you click on your position thinking that it's going to just automatically set you
11:27 it's going to just automatically set you
11:27 it's going to just automatically set you up to buy 10 more options well what it's
11:29 up to buy 10 more options well what it's
11:29 up to buy 10 more options well what it's actually done is set you up to sell
11:31 actually done is set you up to sell
11:31 actually done is set you up to sell those 10 options and uh so you're not
11:33 those 10 options and uh so you're not
11:33 those 10 options and uh so you're not you're not getting any fees for trading
11:35 you're not getting any fees for trading
11:35 you're not getting any fees for trading options that's what's very nice about
11:37 options that's what's very nice about
11:37 options that's what's very nice about Robin Hood but become very familiar with
11:40 Robin Hood but become very familiar with
11:40 Robin Hood but become very familiar with the platform because it's easy to make
11:42 the platform because it's easy to make
11:42 the platform because it's easy to make mistakes on Robin Hood and there is no
11:45 mistakes on Robin Hood and there is no
11:45 mistakes on Robin Hood and there is no um no call-in support for Robin Hood so
11:48 um no call-in support for Robin Hood so
11:48 um no call-in support for Robin Hood so that's the drawback it's a very
11:51 that's the drawback it's a very
11:51 that's the drawback it's a very barebones platform but uh you can trade
11:54 barebones platform but uh you can trade
11:54 barebones platform but uh you can trade everything for free including options
11:56 everything for free including options
11:56 everything for free including options which you can't do on most other uh
11:58 which you can't do on most other uh
11:58 which you can't do on most other uh platforms where they will rape you on
12:00 platforms where they will rape you on
12:00 platforms where they will rape you on fees uh but it'll take probably a day or
12:03 fees uh but it'll take probably a day or
12:03 fees uh but it'll take probably a day or two to to get
12:05 two to to get
12:05 two to to get um uh approved for options if you if
12:07 um uh approved for options if you if
12:07 um uh approved for options if you if you're going to go with Robin Hood and
12:09 you're going to go with Robin Hood and
12:09 you're going to go with Robin Hood and that would be my suggestion for
12:11 that would be my suggestion for
12:11 that would be my suggestion for everybody if you're going to trade
12:12 everybody if you're going to trade
12:12 everybody if you're going to trade options put put the capital in a Robin
12:14 options put put the capital in a Robin
12:14 options put put the capital in a Robin Hood account and then become very
12:16 Hood account and then become very
12:16 Hood account and then become very familiar with that only use limit orders
12:21 familiar with that only use limit orders
12:21 familiar with that only use limit orders preferably don't trade right at the open
12:23 preferably don't trade right at the open
12:23 preferably don't trade right at the open on options the spreads will be big
12:26 on options the spreads will be big
12:26 on options the spreads will be big anyway um and then leaps you got to
12:30 anyway um and then leaps you got to
12:30 anyway um and then leaps you got to stick with leaps and you have to have
12:32 stick with leaps and you have to have
12:32 stick with leaps and you have to have your physical position before you even
12:34 your physical position before you even
12:34 your physical position before you even think about doing options