Hello Fools! I was having a bit of a search through the boards to see if I could find any discussions on options investing and this board seemed to be the best place to ask this question: Do any of you use / have heard good things about any options investing services outside of the Motley Fool? Reason I ask is that I have had great success investing foolishly following picks from Stock Adviser and Rule Breakers and want to add an options service to my arsenal but currently the Motley Fool Options service isn't open for new subscriptions so I'm looking around for something else. I've looked at sites like Zacks.com and checked out offerings on youtube like Option Alpha but it is hard to find reviews on any of these things from a credible source. Most reviews are space and seem to have been left by disgruntled people who didn't appreciate that not every investment will be a winning one and gave up very quickly.Any insight would be greatly appreciated or if anyone at the Fool is reading... LET ME IN!! I WANT TO SUBSCRIBE TO THE OPTIONS SERVICE!!!
I'd recommend waiting for Fool Options to open up. I've been a member, a very satisfied member, for years.mathetes
First, I agree with Mathetes. I have learned a lot thereLike you, I have had great success with Rule Breakers and Stock Advisor, particularly David's picks. I expect there are only so many things I can keep track of, so I do not have a separate list of "option stocks", I select virtually all of my targets out of the same list of stocks that I actually buy fromAdditionally, I have learned a lot from googling around and YouTube too. Specifically, google terminology and examples and walk through them to make sure you understand them. A few years ago when I had a lot of spare time, I went through a number of online pitches which ALWAYS seemed to leave out one piece of data unless you paid for their service. It was fun to try to reverse engineer their recommendations. I don't necessarily recommend it, but I learned a lot by trying. Also, most of those services are crap. They are championing their biggest wins onlyBuild a spreadsheet and follow some examples in real life. Buy or sell one contract of something not too expensive and see what actually happens. The act of writing formulas in excel will also force you to think about how things really workPost specific questions to a board like this one. I believe I saw RayVT respond to someone in the tread before yours. I swear I have seen him around for 20 years. The advice he gave to the previous guy about non-sexy deep ITM calls was good advice. Some people pay a lot of money to learn that lesson. He gave it to you free :-)
Hey, thanks for the responses! Interesting that you pick from your same pool of Fool recommended sticks for potential options trades ICoyote. I guess that makes sense as you have a sense of how the stick trades and how volatile it is. I'll have to have a look back and find the post from RayVT. I'm happy with non-sexy if it pays out! That's one the biggest problem with half the stuff on YouTube: everyone is trying to make their ideas sound sexy and innovative! A lot of the things I've watched seen to advocate being "net sellers" as that caps your risk, which makes sense. Just need to understand the mechanics of it better.Just out of interest does the Fool options service give you literal trades to make at specific times? Timing is a bit more critical with options compared to buy and hold investing!
https://boards.fool.com/since-we39re-talking-about-options-h... I'm happy with non-sexy if it pays out! That's one the biggest problem with half the stuff on YouTube: everyone is trying to make their ideas sound sexy and innovative! Nah, that's the 2nd biggest problem. The biggest problem is that everybody is looking at -- and treating -- options as a lottery ticket. "Make 500% annualized." "Use options as a monthly income stream." "How to Make $1,000 Day Trading Options!""I made 1000% return on an out of the money call!""Covered Calls for Income: How To Effectively Generate Consistent Monthly Income"Keep in mind Sturgeon's Law. Except that when applied to Youtube options videos it's more like 99.9%Oh, but I found 1 (one!) Youtube video on what I talked about. Have to watch it and see what he says.
>>> Just out of interest does the Fool options service give you literal trades to make at specific times? I would characterize it as an "educational" service. They run 6 or 8 (I forget) strategies at a time, such as covered calls, written puts, bull call spreads, etc. They will give you a specific stock, strike, expiration date, and price range to try to get over a couple of days. Then you follow along and get their insights on what is happening and what to do as various options exceed expectations or fail. Many years ago I mimicked them, but now I tend to just follow for the conversation and several other boards that have a reasonable amount of participation. They are pretty conservative in some ways, more than me in some cases, so I tend to pick my own options now.
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