Let’s face it. It is not possible to run a training course from ground zero on options, cover all possible strategies, and then choose to master a few of them. It would take over a year or more, it would cost students an arm and a leg, and it may even confuse them more than anything else !
On the contrary, OM only has one objective in mind: Provide traders with a hands-on yet complete approach to a selection of proven strategies that return a stable income month after month.
OM Target 1: Who is this for ?
The OM target has been therefore narrowed down to:
- Traders / Investors who wish to trade for a consistent income supplement;
- Traders who can afford to run a Reg T account with a minimum of $20k, yet not necessarily a PM account (over $100k) even though PM accounts optimise margin usage hence increase potential returns. That said, we never not use the extra margin potential to trade more risky positions like short strangles, straddles etc: no naked options.
- Near-Beginners or traders who have been learning a bit about options, have traded a bit demo or live, and need guidelines and directions. Greeks basics will be covered anyhow, but some prior knowledge would be handy. Basics are covered in courses and resources are also available on our partner site Capital Discussions.
- Trading will essentially be non-directional and shall hardly be dependant on technical analysis of the underlying. It can indeed help but like options theory, it can easily sidetrack you from actual options trading. Bullish / Bearish credit spreads will be covered as they are basic building blocks one has to know before going further.
- Trading indices in particular US indices like RUT or SPX. Trading options on stocks involves dealing with dividends and sometimes liquidity concerns. Trading FX options or derivatives like VIX are more complicated and the famous B&S pricing model is more difficult to apply.
- People who are keen on being part of a Community of like-minded traders.
OM Target 2: What is it Options Masters offers?
OM first focused on one methodology, one monthly strategy, that is called the Weirdor (named after first being called the « Weird Condor »). It is in fact no so weird, remarkably simple to understand, and it can be practised and traded in a matter of a few months. The Weirdor is quasi-mechanical indeed, thus building confidence in trading it over and over then exploring a few more strategies. The Weirdor has been around for nearly 10 years in the options trading community and most consistent traders achieve returns over 30% per annum with it. Check this page for a typical training programme.
Other very successful monthly strategies like the Bearish Butterfly, the M3 or the Rhino can also be taught at Options Masters to slightly more advanced traders. Is that all ? Certainly not! The goal is to allow OM Members to become all-round traders with a variety of approaches to the markets. Also, Options Masters is a conduit, a open-ended vehicle and we trust that most of the content will eventually be offered by the OM Community Members themselves!
OM Target 3: Where and When ? To Whom ?
There is ample competition in the US, yet a lot less in Europe, hence OM wishes to address that market, that time zone, from Ireland to Dubai or Mauritius. The focus remains the CBOE at the moment however we shall try and also venture into European Options markets soon.
All courses are delivered online in French and English via Skype or Webex to an audience primarily based 6 to 8 hours ahead of Chicago (i.e. Europe, Middle-East and Africa). Most members are not full time traders, have another activity or simply enjoy their freetime in the mornings. OM business hours will thus range from 7AM to 9PM UK, including Saturdays.
Options Masters is also proud to be associated with Capital Discussions, a wealth of resources with additional classes and alert services. Options Masters services the French speaking community with CD.
OM Target 4: Can you tell me more about the OM Community ?
There is a free public (yet moderated) forum here on the OM site. The Community is meant to develop on the members area that has been placed on Options-Forum.com or Options-Agora.com. Forum is a Latin word, and we obviously had to add its Greek counterpart 😉
A lot of features will be implemented on Options-Forum.com including personal blogs, alert and coaching services from the OM Team as well as from Approved OM Community Members, and probably a lot more we haven’t yet even thought of ! Again this is a bottom-up business model and not the other way around. Innovation will also come from you !
OM Target 5: What falls outside OM’s realm ?
Everything else basically, including and not limited to:
- Directional trading,
- Gamma positive i.e. Theta negative,
- non-US markets (for now),
- Stocks as an underlying vehicle (unless developed within the Community)
A bit lost ? Need a refresher on Options or Greeks ?
Want to know more ?
This post is also available in: Anglais