How to consistently make money trading options - Part 1

This is a not a get rich quick scheme. This is about trading options using probabilities – and consistently making money, by following a set of tested mechanics. More specifically, this is about selling options (premium) – just like selling insurance. You will lose money trading options. However, if you follow a set of mechanics, you will make more than you lose.

First, if you haven’t already done so, open an account with a brokerage. I highly recommend tastyworks (This is a referral link. Here’s more information about tastyworks’ referral program.). The referral link isn’t why I’m recommending them though. tastyworks offers incredible customer service combined with an easy to use platform, and fees are beyond reasonable. Also, tastytrade, the marketing arm of tastyworks, puts out the best options education content in the industry.

Once you’ve opened a brokerage account, below are steps you can take to learn about selling premium.

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Steps

1. Watch the Beginner Options course at tastytrade.

2. Watch the Deep Dive – Implied Volatility course at tastytrade.

3. Watch the Beginner Track at Option Alpha.

4. Watch the Intermediate Track at Option Alpha.

5. Watch the Advanced Track at Option Alpha.

6. Listen to all of the podcasts, and read the relevant essays, by David Sun at: TheTradeBuseters.com. Below is the recommended listening/reading order from Mr. Sun.

   1. Start with episode 37

   2. Then listen to episodes 8, 13, 19, 20, and 29

   3. Then read essays 1, 5, and 7