Broke? $100 New Option Strategy
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- เผยแพร่เมื่อ 3 มิ.ย. 2024
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Poor Man's Spread
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𝐋𝐞𝐠𝐚𝐥 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in an attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!
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I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
@@RyanGabriel9 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@RyanGabriel9 I will give this a look, thanks a bunch for sharing.
You don’t need an advisor. They’ll rob you blind. Educate yourself on the matter. It’s not that hard. Then you will see that an advisor is truly not a wise decision.
I restarted my financial journey in my 40s, yes it takes consistent focused effort. and it's will yield results both financially and emotionally as the process grows.
Just started trading options last Monday. I put in $425 worth and turned it into $1400. I am still wrapping my mind around it
Great
Nice!
What platform are you using?
@@elkompakikko I am using robinhood. I bought a 30 contract put option for Ford that Wednesday and also a 5 contract put for ares capital. Literally 20 minutes after market open on Friday I was in the money on both. I have since lost about $260 this week. Still learning
Are you lvl3 on Robin Hood? If so, how did you get there?
Literally, on 6/09/23 Friday, I put $100 into an account to practice options. I bought an OTM for $44. It had a 6/23 expiration date. It immediately went up $11, but I left it for the weekend. By Tuesday,, I had $175, and by EOD the next Friday, 06/16, I had $362. I only bought calls and had a position 1-2 times a day. Now, I will practice a new strategy, but the first week taught me a lot.
If you are tired of losing your money or having a quick depleted account balance, don't think that all hope is lost because there are still some good people out there. Guys she is legit, I mean Mrs Betty Jo Steininger. Anyone currently experiencing losses should reach out to her for assistance. Feel free to search her online.
what are you practing opinions on? what app or website?
i would also like to know what you are practicing on
i would like to know what platform...my software charges me $10 for each trade. this almost doubles my cost of a single contract option grrrr
@@shawnahtila8934use Robinhood. No fees
Can we please get more of these broke people videos?
😂😂😂🎉💯
😂😂😂 yes yes yes! please show us so we can grow like the masters and build wealth for our families 👑👏🤙💪⚡
Loved it, thank you Henry. Very useful.
Thank you!❤
Thank you for sharing
you have been the best for strategy and explanation thanks
Could you do a video for broke people but with option 2 trading. Im personally stuck at option 2 trading for another year, been watching alot of your videos and i love how slow you are explaining everything ez for me to keep track!
This video deserves many accolades and life goes on. I was chatting with a lady a month ago and she was complaining to me how terrible her trading has been because instead of trading as an investor she was investing as a gambler. Trading online, whether its stocks, binary options, crypto-currency or forex requires accurate precision and analysing of the market and how a commodity works before trading. I also remembered telling her that trading and succeeding in any type of the above mentioned online investment scheme is all about strategy, signals, Witt and guts, a reliable and trust worthy broker like BettyJoSteininger. She handles my trade and releases profits when due. Her technique is mind-blowing.
She's one click away.
She lost for me and my friend maybe she gave my money to you?
SJANEW 💯 ✅is her user name VlA T E [ E G R AM✅
i'm new to this channel i have already learned a lot. These are concrete actionable advices!
Thank you Henry.
(For some of us, please don’t skip any ads, I am guilty especially with the ads that of no interests to me because I have ADHD. Struggle is real, don’t know how I earned a degree.)
Thank you so much
Executed 2 PCS on SPY today per your video! Up 66% already. I’ll close early tomorrow if SPY is higher or flat. Clear explanation
Thank you uncle Henry sharing... Fantastic... 🙏🙏🙏🍺🍻
This is great thanks
by the way what are you thinki about Options Rollings. thanks
Thank you
Love the video, please continue to make small port videos and strategy’s!
Do you have a video on the type of robinhood account you need for this strategy? I could only do 1 option trade, it said you can only select 1 option
Thank you man
I like long term dedit spreads as well, you can hedge a lot of the risk of buying single leg long options. I've had success so far buying in the money, with at least 6 months, and diversifying into a few different stocks. I like to take longer term positions so theta doesn't eat me alive if the market takes its sweet time making a move, and when you open a spread, your short leg counteracts a lot of the time decay from your long leg anyway. It reduces the cost basis as well so can can diversify into more assets instead of having your whole account in one call option
I follow everything up until buying the put. Robinhood won't let me click the plus sign next to the bid price. Why is that? Any help will be appreciated.
Man, this was very informative, great job Henry. I appreciate ya big time
How do you close a position?
Thanks Henry for this kind of strategy. sound good but I will see.
Great stuff 👏
This was a great video
would like to see more trades with this strategy, also would like to see many more ways to close options if I made a mistake starting out selling put or buy call or buying put. I started off doing the opposite before starting with your program and I'm still stuck trying to get out of it bc Robinhood has placed a warning on me as a pattern day trader bc my portfolio is below the recommended $20,000 day trade
Pattern?
Betty Jo Steininger trades for beginners, non experts, those who do not have time to trade as well as those who have lost so much to trading. She can help you manage your account perfectly with her masterclass strategy. With average wins of 9 out of 10 also with over 96% accurate trading signals. You don’t need a degree, any experience or a lot of money to get started. Feel free to search her online.
Use a cash account because trades settle overnight and you can trade again the next day with the whole account
I wanted to see how to close a position !
How did you able to click sell and click buy, my account only let me click sell put, then when i click buy, it switch over
What can i do if i cant upgrade to lvl 3 on robing hood yet?
how do you close these positions
Henry,
Should I roll or leave it?
I have 1 contract call option on NVDA at $260 expires 6/21/24, my cost based at $180, current price $480. Huge loss. Does it make sense to roll, Just don't know what to do?
Thanks, Henry, just what I needed. I liked the video. We need more of these types of videos. Anything from 20 to 125 cost .I think it would be ideal.some of us are not from the USA, so robinhood is out of the question .a video on which other broker/ software is best would be good. Seen people use moomoo and webull. Keep up the good work it is appreciated
Interactive brokers or tastyworks
If you are tired of losing your money or having a quick depleted account balance, don't think that all hope is lost because there are still some good people out there. Guys she is legit, I mean Mrs Betty Jo Steininger. Anyone currently experiencing losses should reach out to her for assistance. Feel free to search her online.
Thank you bro
SJANEW 💯✅ is her user name VlA T E [ E G R AM✅
I understand selling the put - but I dont understand the logic behind buying the put to offset the loss.. What does that mean? how does that lower the overall risk for $700 to $78. I need a full logical explanation please.
How do u select multiple options? I can only select 1 option at a time
I was just starting to understand options trading when I start stumbling on spread trading. This video turned my brain to mush.
What's the easiest platform?
I do not have level 3 options yet. Is is possible to sell the put option in a separate transaction?
That’s what he doesn’t say. To have option 3 most of platform will require you experience on the market.
Your graft shows all
The plays sell & buys. Are you doing this with regular option call
& sell or again using another option name play ??? For we need to know this . As you buy on Robinhood let’s say the graft doesn’t look like that n let t you play all these option in single chart ? Correct ?? & please again look at the video saying sell
Palantir 8& & it’s cost 0.83 that 1.83 $
NOT 800 $ for 1 option so yes lost already if your
Correct ??
Want to know how to do this properly how to we connect to understand this & go over 1 by 1 ???
What about the taxes we pay at the end of the year?
If you did this strategy consistently every month with a 70% chance of winning and a 30% return, wouldn't that eventually average out to 0? If you lose 3 times out of 10, you've given all your profits back for the 7 times you won. 78x3=234 22x7=154. How does the math on this work out? I think the only way to win is to close out your position as you approach the break even every time. Am I correct in thinking this is how you play this game? Edit: I should have continued to watch your "scenarios" section where you talk about closing/rolling the position as it approaches breakeven. Really enjoying your videos.
you have to be good at technical analysis.
hi, how to join to your discord?
Do you have any tips on how to manage an index option iron condor? Im holding one that expires this Friday and the call side is going to be itm. I took on more risk than I should of. I have a couple of ideas on what to do but any advice would be great.
Betty Jo Steininger trades for beginners, non experts, those who do not have time to trade as well as those who have lost so much to trading. She can help you manage your account perfectly with her masterclass strategy. With average wins of 9 out of 10 also with over 96% accurate trading signals. You don’t need a degree, any experience or a lot of money to get started. Feel free to search her online.
What platform are using to make those options trades
hey on ibkr it always requires margin like thousands of dollar even tho my max loss is like 200bucks, why is that do i need a margin account then?
wht website is this on?
This strategy requires a level 3 options account. The average "poor man" does not have that
how many levels are there?
I feel you bro ,I have only bought one call so gar and it wasn’t successful. I’m still learning how to buy good and cheap calls to make money. And eventually I will sell puts and do all that other stuff in the future.
They call it that because it’s a cheap trade.not simply because “poor men” can do it. Robinhood will let you do level 3 with just a little education.
I’ve learned a lot from Henry’s videos as well other resources and am ready but Robinhood still won’t allow me to options trade….
7:06 $50 makes you $1000. (Fine print: there's a chance you may owe $8600)
Like the video, and I suppose this isn't risly for Vegas
I must not be doing something right, I’m testing this theory with Webull paper trading and I put 221 into the account. I can’t sell a put if the cost to buy the stock is say 800.. am I doing it right?
Can this strategy be copied with a level 2 trading account?
ok i thought this video would help me and there is so much i just dont understand. I know nothing about puts and options. Do you have an idiots guide to puts and options by chance ?
Did you close your position in PLTR and roll it, or did you close it all together?
Don't get scammed by this guy Jake that's not really Henry, I'm sure you know I'm just looking out for a fellow trader
THE BEST 👍
Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for.
Success depends on the actions or steps you take to achieve it.
That’s true. If you don't find a means of multiplying money, you will wake up one day to realise that the you thought you had, has finished. Investment is key.
Bitcoin is the future of the digital world, investing in bitcoin has made me financially stable. It is a pity that many people who are going through great difficulties have ignored bitcoin, while bitcoin can improve their financial situation.
Investing is a way to set aside money while you are busy with life and have that money work for you so that you can fully reap the rewards of your labor in the future.
@@ComfortUdo-po4zp I will recommend Mr. Nicholas Marcus to you, His trading acumen is working for me right now and I am making good profit from bitcoin trading.
I have been earning a lot through bitcoin trading which has been the main source of my income.
Where's the link to the discord? Thanks in advance
calendly.com/invest-with-henry/option-income-academy
Why would you SELL AN OPTION first??? Isn't this higher risk? If you BUY the option first and then sell it before EXP, you don't need collateral. Why does nobody tell people this??
You’re more likely to lose money as an option buyer
Can I ask, does Henry first have to hold 100 shares in PLTR before making this play?
No because its a put credit spread. You have to cover your Position with money.
I tried this strategy on a day trade (I know you advised against this). I bought options that would guarantee a return no matter what. I made $100 in one day. Thank you! Thank you! Thank you! I am using only this strategy from now on.
Hey! Anymore progress since then using this strategy?
If you are tired of losing your money or having a quick depleted account balance, don't think that all hope is lost because there are still some good people out there. Guys she is legit, I mean Mrs Betty Jo Steininger. Anyone currently experiencing losses should reach out to her for assistance. Feel free to search her online.
Excellent!
calendly.com/invest-with-henry/option-income-academy
Just curious can this be done with multiple contracts?
Yeah I'm also interested to know
question,, we (the poor traders) have only 3 attempts per week on most platforms, does this count 1 or 3 attempts?
If profitable do you let these close at expiration or once its at max profit do you close it manually?
How do you access the profit/loss chart after you establish the spread in robinhood? I literally write down the numbers. I wish I could have a visual chart to keep track of the position later on.
If you are tired of losing your money or having a quick depleted account balance, don't think that all hope is lost because there are still some good people out there. Guys she is legit, I mean Mrs Betty Jo Steininger. Anyone currently experiencing losses should reach out to her for assistance. Feel free to search her online.
How do you close a put or option?
SJANEW 💯 is her user name VlA T E [ E G R AM
Hey Henry you have inspired me to start with option trading. I love to watch your videos. I came to the conclusion the best strategy for me is the good ol' wheel. But lately i've found a strategy that may suited better for me. Its called covered strangle. Whats your opinion on that? Covered strangle > wheel?
I like the wheel to! However when a big correction comes or a black swan event, the wheel is gona be broken(doesnt work) and you’ll need more capital. (Learned this the hard way)(bag holder here)
@@yeeoaktown thanks for sharing the negative side of the strategy. I hope it is an underlying that you are comfortable to hold. The idea with the covered strangle is to cost average down your shares if it happens more than ones and in the mean time you can sell covered calls.
@@BronkoBanane fortunately it is!
@@BronkoBanane definitely going to look up the covered strangle. Thanks
Opinion on synthetic long strat?
How do you get to the discord channel?
First link
the only problem with this for me is that I can only choose one option because i dont have option trading level 3 unlocked yet. so even if i do the cheapest options i can find that are somewhat safe it still is hard for me to commit 150$ because i just moved out of my parents place and started living on my own. so its very risky for me
Light mode burns my retinas please use dark mode henry. Thanks for the video :)
Great info but no one with a small account will have level 3 options on Robinhood which is required to do spreads. Can you show how to do this with a level 2 options?
I was able to get level 3 with a small account. You just need to talk with them on the phone
@@uglyducklingfinance2023 hmmm...ok, I will give that a shot. What do they talk to you about?
@@adamswope9721 they just ask if you understand how spreads work like credit and debit spreads. They will also ask how long you've been trading options.
I have level 3.. started with 100 bucks lol
Hey, I was going to comment the same thing as the other guy. Try to activate it, it will probably get denied, and then set up a phone call meeting with them.
I'll be 100% honest, if they don't give it you after the meeting then its probably for your best interest. Take time to relearn and try again within the next month. "Investing with Henry" and "in the money" TH-cam channels taught me everything I needed to know to get to level 3.
Good luck friend!
Worst case scenario I get assigned and have to buy the shares at the strike price right?
correct
Henry, I did a cash secured put on spy today for 5 contracts at 411 and got assigned, how do I dig myself out of this?
Sell covered calls .
Brilliant! Thank you Henry!
@@lunoinvestment9680 get lost. My opinion
The problem for me is that I can't get Level 3 options so multi-leg strategies are off the table for me.
Same they dont let me upgrade wtf??
The same with me too! Im only on level 2. It doesnt make sense to make these only available to level 3.
@@DigitalDezinesCEO I’m pretty sure the reason that Robinhood changed it is because of that kid that committed suicide because he didn’t realize what had happened and he thought he was like $700k in the hole when in reality it was just his spread settling after assignment.
So they make it harder to do that, but they could have just made their interface work better in that situation instead of putting up a wall to everyone who is trying to grow a small account.
You can still do each transaction separately. I would have kept the long position and rolled or closed the short. The old saying the trend is your friend.
@@stevemiller5467 Thanks. I will try this.
I’m only a level 2 trader on Robinhood so spreads aren’t available to me. What is another option for me until I’m able to get to level 3?
I'm also at RH Level 2, and they're deliberately vague about the requirements to move up. The only advice I can give is to make a few trades on a cheaper stock (I've heard around 10) and then try to upgrade. Barring that, try updating your investor profile. Indicating that you have more income, assets, or risk tolerance may help, as long as you don't lie.
Betty Jo Steininger trades for beginners, non experts, those who do not have time to trade as well as those who have lost so much to trading. She can help you manage your account perfectly with her masterclass strategy. With average wins of 9 out of 10 also with over 96% accurate trading signals. You don’t need a degree, any experience or a lot of money to get started. Feel free to search her online.
I like the strategies especially when people do $500 challenge.
If you are tired of losing your money or having a quick depleted account balance, don't think that all hope is lost because there are still some good people out there. Guys she is legit, I mean Mrs Betty Jo Steininger. Anyone currently experiencing losses should reach out to her for assistance. Feel free to search her online.
there is no discord in your information so why say it is?
I’m just a little confused on this strategy. How is it Just not a credit spread? What makes this any different. Is it just a cheap stock?
You're right, it's just a credit spread. I think he called it poor man's spread because it's cheap to enter
I like videos where you teach people who are blind and no knowledge when it comes to options. Like my self I don't know what options is but slowly learning watching your vids and other TH-camrs. 🍻
How much you lose?
@@garciabag Try it out first on paper trading.
When this gives, a good return, then you can do smal positions, with real money.
Didn’t you say u r stopping selling puts on this market?
How to join with your discord.
calendly.com/invest-with-henry/option-income-academy
Henry I was watching Ben ( yield collector ) and he was talking about a discord you are in on one of his recent videos and I can not find a link to it . Could you post a link to it
calendly.com/invest-with-henry/options-income-coaching-academy-yield-collector
How is put credit spread “new”?
SJANEW 💯 is her user name VlA T E [ E G R AM✅
Robinhood isnt letting me do more than one option at a time.
One thing I don't like about the videos I've seen so far is that you don't really talk about how many shares you need to do the option. For instance one video talked about making money with under 1000 dollars, but then you show doing it with Tesla stock, but you need at least 100 shares of it for 1 option and that's over $20,000 dollars you actually needed to do 1 option and the viewer does not see that because you had plenty of the stock already, so it looks like you can make lots of money with very little.
that’s not how it works, while the contracts are 100 shares, the shares aren’t worth what the actual stock share is worth. you can buy tsla options for under 100 dollars depending on strike price and implied volatility.
I don’t see a difference from a put credit spread 🤷🏻♂️
This is a great video, I learn alot watching your videos and it has been helpful to me. Building a steady income is quite difficult for newbies. Thanks to Louise O'Brien for improving my portfolio. keep up with the good videos
wow.. amazing to see others who trade with Mrs Louise O'Brien, i'm currently on my 5th trade with her and my portfolio has grown tremendously..
I invest with Mrs Louise O'Brien too, she charges a 20%commission on profit made after every trading session which is fair compare to the effort she put in to make huge profits.
With the consistent weekly profits I'm getting investing with Mrs Louise, there's no doubt she is the most reliable in the market. such a genius
She's often interacts on Telegrams, using the user-name below.
@INVESTWITHTAMYLOUISE that is her username
And with webull you have to have a margin account to get level 3.
I wish i bought palantir at $6.00
Going to try to run this mini Wheel strat with $100 and see what happens.
Dude I have listen to you and haven’t seen any gains , on the contrary I have lost money every single day
How is this a new strategy? It looks like a good ole put credit spread
New to him
Wasn't this just a credit spread? What is different with the 'Poorman' credit spread?
It not a poor man’s credit spread its click bait! Nothing new like it says. Just your average credit spread.
Great ideas ... I love to scroll though comments and see how many times a creator replies
SJANEW 💯 is her user name VlA T E [ E G R AM✅
New strategy???
Just very old and known put credit spread.
I just dont get it, if i go leaps ditm how is this bad strategy ? Am long always.
SJANEW 💯 is her user name VlA T E [ E G R AM
I can't open a portfolio