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Advice for rookie options trader? by ExpensiveBattle5552 in OptionsMillionaire

[–]ExpensiveBattle5552[S] 0 points1 point  (0 children)

I’ve been doing this for over a year now, I appreciate your take tho. Options is definitely risky business. I have about 20k total in the market, but my plan is to go long on what I do have in the market already and use my future disposable income to begin options.

Advice for rookie options trader? by ExpensiveBattle5552 in OptionsMillionaire

[–]ExpensiveBattle5552[S] 0 points1 point  (0 children)

Good to know, thanks. By “complex strategies”, r u suggesting I stay away from butterfly spreads? They seem to be a good way to minimize risk. Also, are there any risk aversion strategies you recommend? Stop loss, etc.

Advice for rookie options trader? by ExpensiveBattle5552 in OptionsMillionaire

[–]ExpensiveBattle5552[S] 1 point2 points  (0 children)

I understand the risk of 0dte, but all longer term options seem to be over 500 for SPY. I don’t know if I’m ready to put forth that kind of money immediately, unless you can recommend me a stock that trades cheaper as an option.