See how the former Marine "Jedi" Luke trades options for a living. Luke is a very disciplined trader and the best day trader I've ever seen. He brings his military like discipline into his trading and is like a robot while he trades.
Jedi Luke learned to trade options from a friend of former President Ronald Reagan's personal stock trader.
For review, an option is a financial derivative that represents a contract sold by one party (option writer) to another party (option holder). The contract offers the buyer the right, but not the obligation, to buy (call) or sell (put) a security or other financial asset at an agreed-upon price (the strike price) during a certain period of time or on a specific date (exercise date).
Call options give the option to buy at certain price, so the buyer would want the stock to go up.
Put options give the option to sell at a certain price, so the buyer would want the stock to go down.
On Thursday, July 26, 2012, Jedi Luke alerted over 400 traders in JB's live day trade chat that SBUX Aug 18 PUTS at $45 were a buy because his screener picked up unusual PUT volume and Open Interest right before Starbucks announced they missed analyst expectations.
On Friday, anyone who bought SBUX puts with Luke made over 130% in 1 day!
In this lesson you are going to learn just how easy it is to learn how to trade options while making money at the same time. I will show you how to follow Jedi Luke's option trade alerts, and how to enter them in to your brokerage account (mine is Scottrade so you'll Scottrade in this video but your platform should be similar).
Jedi Luke and JB did a 1 hour webinar on Thursday, for members of JB's Stock Alert service, on how to trade options and a portion of the webinar is included in this video. Enjoy!
Let JB Show You How To Quit Your Day Job And Trade At Home For A Living! Click Here For More Details
Let JB Show You How To Quit Your Day Job And Trade At Home For A Living! Click Here For More Details
Source: http://www.guerillastocktrading.com/lessons/option-trading-strategies-trading-options-for-a-living/
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