Anyone interested in making some consulting money? I traded from 1989 - 2002, mainly in futs, stocks, and tiny bit of options. I recently opened an acct with TOS ($30k) to start trading again. I need an options service or someone from ET maybe, that will help me create strategies based on my mkt opinions. Examples: I think AAPL will stay bet. X and Y during time A and B, I think RIMM will go to X but not more than Y in the next 30 days, I think IV is a sell but need protection just in case... and so on.... I've always wanted to do options, but never had the analytical and quant abilities to go forward. Is there a service or a trader who may be interested? I'm not sure how to compensate, perhaps per trade? Thanks for even reading....and all ideas are welcomed... Open forum, PM's also fine if you're shy.
I understand, it'a not a big account. So if that's your concern, perhaps I can call on your services after I deposit more funds if need be.
You can get a lot of solid trading advice here for free. A great many experienced option traders here. Some trade for a living and others are very sharp amateurs. Just post very specific questions about the trades you want to do, your outlook, your risk, profit and loss parameters, etc. You'll get different ideas, but most will be synthetic equivs. Give it a try. Good trading.
If you have the direction and bias you have 2/3 of the battle with options. This book is all you really need for the rest. The author is a regular and respected ET member (optionscoach). http://www.elitetrader.com/bo/index.cfm?action=view&B_ID=102&CatID=4
I have never read the book suggested here, but Option Pricing and Volitility by Sheldon Natenberg is widely considered the source. It covers just about everything that someone who is not familiar with options needs to know. I constantly go back and re-read parts of it if I'm looking for an idea.
thanks for the replies... 1- I don't want a book - I read Shelly's book and wanted to throw up...not cuz its bad, cuz I'm that dumb to understand it all. 2- I don't have the time to learn about this. I guess I'm looking for someone to be my options desk. Where I say, I want to do this, and he/she finds the correct options to trade based on my bias. Can't I pay someone for this? WG - I will try your idea. MS - I will call TOS.
LOL I have an idea... why not just give me your 30k and I will give you half back in 6 months because with this attitude your capital probably won't last to long.
Well, there's your problem. There are fresh options every month. You can take some time to learn, and there will still be trading left to do once you're finished. If all you want is to know how to tailor an option strategy to your (highly specific) outlook for a stock, that's painfully simple. I'd be surprised if an experienced trader couldn't pick that up in a month.