4.82 out of 5
4.82
50 reviews on Udemy

Options Trading: The Ultimate Experience (Live Trading!)

Master options trading, learning from my live trades and adjustments based on overall portfolio risk management
Instructor:
Pedro Branco
316 students enrolled
English [Auto-generated]
Dramatically improve options trading skills capturing knowledge from my long experience
Understand how to take decisions on real-world trade environment (based on live market conditions)
Learn how options work and how to creatively manage options portfolio risk with greeks
Learn how to avoid being burst when volatility peaks!
Achieve an expert level knowledge on volatility trading
Forget what you have learned on technical analysis; not needed to master options trading using greeks
Start to earn money; have an extra income

****  VXX trades for June cycle entered and running on Apr, 18th *****

You should enroll in this course if you:

1. … bought an Udemy stock options course , but you feel it is theoretical or does not teach you a proper and proven strategy

2. … have basic options knowledge and need a proper strategy to apply it in the market

3. … lack consistency trading stocks, forex or even stock options (derivatives)

4. … are not profitable scalping stocks (or using stock swing trading approach)

5. … use technical analysis or indicators that do not produce positive results

6. … shorted volatility and it produced huge drawdowns in a Volatility spike

7. … are willing to start trading with a proper trading plan (clear entry and exit instructions)

**** This course target students that want to have a real live trading experience from an experienced options trader! Full transparency (no paper trading!) ****

——————————————————————————————————————-

This is not a course as you may encounter in Udemy! This is a full options trading experience from an experienced options trader to Traders!

I will describe and discuss volatility trading and how I am managing my options positions!  And best of all, I will post a live trade and follow it up until its close (about 2 months) – saving a video explaining the fundamentals of any adjustment !

After the success of the other options courses, some students requested me how I am combining my VXX trading arsenal, how is my full  trading approach or, better saying, how I am trading the VXX limiting my overall risk!  So, here you have it!

To take full potential of these options trading lessons, it is better to understand the concepts of volatility trading, how VXX works and how I trade my developed strategies. For that, I encourage you to have at least one of my other courses.

In these practical lessons, you will learn how I am putting it all together! I think this learning experience is the best way to understand how to trade options the right way, as pro traders do!

Instead of a more conceptual course, these practical lessons will transfer my knowledge on options trading to you in a very pragamatic way! I will start with a live trade and will manage along the trade develops. But before I will start with a brief discussion on option greeks and risk profiles of generic trades, giving you a brief background on them (as they are fundamental to understand how to manage full trading arsenal).

Also, it is essential to understand how the greeks affect position and are relevant to overall positions risk. Trading stock options without looking to them and how they impact your risk, is like gambling and hence, I have also included a brief lesson on them (Delta, Gamma, Theta and Vega).  

Stock options are derivatives. Stock options are options which have a stock as their base asset. In this case, we trade a derivative, which is volatility! We are trading derivatives of a derivative! Not normal stock options. We use an ETN (VXX), smiliar to a stock that tracks volatiltity.

This is practical showcase on options trading where I will publish live trades (when they are open) and show how to manage overall risk as time passes until close!  You should expect that the “Croc trade”, a based options trade strategy on VXX that I developed, will be the basis of my options trading. Aditionally, I will manage options overall risk with other VXX strategies, mainly the Short-Term strategy.

The options strategies involved (and trading style) can be used in IRA accounts. No unlimited risk is taken on any position.

————————————————————————————————————————————————————————

First VXX trade for May 19 options cycle and Dec Cycle trade with VXX available for studying. Both already closed!

————————————————————————————————————————————————————————

Course Content:

  • My Background / Experience

  • Why these lessons

  • Consistency vs expected profitability

  • The greeks (Delta, Theta, Vega and Gamma)

  • Analysis of risk profile of some VXX trades

  • VXX Options Trade Management using Greeks

  • Volatility levels that can influence trade m anagement

  • Using SPY, VIX and/or UVXY as an hedge

  • Live trade follow-up (and risk management taken)

All future course updates will be for free as well as email support for any questions that may arise.

 
——————————————————————————————————————-

This course is for you if:

a) you are trading stocks, forex, stock options (derivatives) or even volatility products and not achieving desired results;

b) you already enrolled in any other Udemy basic stock options course and want a real trading experience

c) you are fed up with technical analysis, stock price patterns, indicators that do not deliver results

d) you subscribed to one of my courses and are willing to learn in a practical way!

ENROLL NOW and start earn to money today!

This options management style can be implemented with a minimum suggested account value of USD2.000 that will be almost fully invested.

——————————————————————————————————————-

Just message me if you are interested in one-2-one stock options trading coaching. Mentorship will be designed specifically for you, according to your options trading knowledge and taken via Skype. Enroll and let’s trade together! 

Trading stocks, forex or even stock options (derivatives) involves risk. Be aware that not all of trades will be winners; the goal is to be profitable in the long term!

Introduction

1
Backgroung and Course Overview
2
Why this ultimate trading experience?

Concepts and Trade discussions

1
Brief on Option Greeks: Delta
2
Brief on Option Greeks: Gamma
3
Brief on Options Greeks: Theta and Vega
4
Dissecting VXX trades: Vertical Spread (Short Call)
5
Dissecting VXX trades: Vertical Spread (Bull Put)
6
Dissecting VXX trades: Iron Condor Spread
7
VXX Trade Management Guidelines: Current Nov 18 position analysis (I) - 3 Oct 18
8
VXX Trade Management Guidelines: Current Nov 18 position analysis (II)- 3 Oct 18
9
Using SPY, UVXY and VIX to hedge positions

Dec 18 Cycle Live Trades Follow-Up (VXX)

1
Dec18 Cycle (Trade entered: 17Oct)
2
Dec18 Cycle (Trade update: 18Oct - VXX up 6%; Trade unchanged)
3
Dec18 Cycle (Trade adjustment: 26Oct)

Adjustment made to short Put Spread to have extra credit, reduce overall risk: flatten delta and increase Theta! Should benefit also if VXX options volatility comes down! Filled  at 0.20 as inserted!

4
Dec18 Cycle (Trade adjustment: 30Oct)

Trade entered at 2.15 for a credit

5
Dec18 Cycle (Trade adjustment: 2 Nov)

Added a Short Call Spread (out-the-money) to deacrese delta and improve a bit theta. Flattened t0 line and prevent fast drop in VXX price. Still no added short term call spreads because markets are still in backwardation.   

2nd ADJUSTMENT: Added a second Short Call Vertical Spread at same strikes to decrease delta to a bit more (21 to 10), as there is signs of volatility crunching. Theta increased a bit and we enter weekend roughly at 6!  Overall position credit increased.

6
Dec18 Cycle (Trade adjustment: 6 Nov)

Nov, 7th: Roll-up the 25 Put to 25 Put to reduce overall trade risk and reduce delta to more manageable values. Theta is ok at these levels. But the highlight of today was the huge drop in VXX price (~6%) but overall trade remained unchanged due to decrease in implied volatility of VXX options. Recall that Croc trade is Vega negative, which benefit from implied volatility decrease!

7
Dec18 Cycle (Trade adjustment: 8 Nov)
8
Dec18 Cycle (Trade adjustment: 13 Nov)
9
Dec18 Cycle (Trade adjustment: 3 Dec)
10
Trade closing (Dec, 4th) and analysis

May 19 Cycle Live Trades Follow-Up (VXXB)

1
11 Mar - Opened first trade
2
12 Mar - Additional opened trade
3
31 Mar - Vertical Expired for profit

Short Vertical Spread closed for profit (110USD)

4
1 Apr - Trade adjustment + new Short Vertical added

Croc adjustment  to reduce delta and added short term vertical.

5
10 Apr - Closed / Opened Short Vertical

Closed Vertical for a profit (45USD) / Opened new one. Total trade profit (closed positions): 155USD (+12% in about a month)

6
15 Apr - Closed all Trades

Closed Short Vertical / Closed Croc Trade - Full Cycle result = 90USD / lot = 7% in one month!!!

June 19 Cycle Live Trades Follow-Up (VXXB)

1
18 Apr - Trades Entered

Croc Trade and first short Call Vertical entered

2
2 May - Trade Adjustment

Croc trade doing good; Closed Vertical and Opened a new one.

3
8 May - Trade Adjustment

Short Call Vertical closed for a loss; Croc Trade alive and kicking...!

4
17 May - New Vertical Entered
5
24 May - New Vertical Entered / VIX Hedge entered

Thank you and safe trading

1
Dec18 Cycle (Trade adjustment: 28 Nov)
2
BONUS SECTION 1: Discounts and other material

BONUS SECTION 2: ThinkorSwim Indicators

1
Contango level indicator
2
IV Rank indicator

# Updated with new /VX futures 2018 coding

# Display Contango relationship between the Front and Back Month

# VX Futures.

# This removes the VIX absolute level, to allow visiability of the

# contango only.

# This is merely the Back Month VX futures minus the Front Month

# VX futures.

# Inflections of positive to negative and visa versa are flaged and

# enumerated.

#input bubles = 0;

input configuration = {default percent, commulative };

input Threshold_shortVol = 6.77;

input Threshold_longVol = 0; # 2.90; The URL above uses 2.90 for this threshold,

# Default is Contango threshold (zero)

declare lower;

# Below flags the date for expiring FrontMonth VX Futures per CBOE specs.

# Note: Regardding the Holidays, only one occurrance since 2010, which is

# hard coded in line below.

# For some unknown reason, TOS does not respond to daily VX futures per

# specification before August 2010, so data seems valid after Aug 2010.

# In debugging this, observed that TOS has some issues. Sometimes TOS misses

# complete trading days of info, the "/VX" reference in TOS does not

# match the CBOE spec for settlement, so beware. The TOS "opportunities"

# seem to be dynamic (not static bugs). At the time of this note, TOS

# inferred no trading of "/VX" between 7/16/2013 and 7/22/2016. (Missing 3 days of trading)

script VXexp {

def date = GetYYYYMMDD();

def isholiday = date == 20140319; # Manual injection of holiday on 4/18/14 which alteres VX settlement date in March.

def n3rdfa = Next3rdFriday(1);

def n3rdfb = Next3rdFriday(2);

def n3rdf = if (n3rdfa < 4) then n3rdfb else n3rdfa; # Pick Next month's expiration, not this month.

plot VXexp = if (isholiday) then 1 else ((n3rdf == 30) and !isholiday[1]);#and (dow == 3);

} # End of script for VXexp

# LsD extracts least significant digit of the number (date)

script LsD {

input date = 20100101;

plot LsD = (date - RoundDown(date / 10, 0) * 10);

} # End of script for LsD

def InContango;

def NotContango;

def ContangoBias;

def fm;

def bm;

def date = GetYYYYMMDD();

def dom = GetDayOfMonth(date);

def newmo = dom < dom[1];

def incmo = if newmo then 0 else if VXexp() then 1 else incmo[1];

def Y_ = GetYear();

def Y = LsD(Y_);

def MM = GetMonth();

fm = if (MM + incmo) > 12 then 1 else (MM + incmo) ;

def fmchange = fm != fm[1];

def fmY = if fmchange then (if (MM + incmo) > 12 then LsD(Y + 1) else Y) else fmY[1];

bm = if (fm + 1) > 12 then 1 else (fm + 1) ;

def bmY = if fmchange then (if (bm < 3) then LsD(Y + 1) else Y) else bmY[1];

def fmp = close( "/VX" + (if fm == 1 then "F" else

if fm == 2 then "G1" else

if fm == 3 then "H1" else

if fm == 4 then "J1" else

if fm == 5 then "K1" else

if fm == 6 then "M1" else

if fm == 7 then "N1" else

if fm == 8 then "Q1" else

if fm == 9 then "U1" else

if fm == 10 then "V1" else

if fm == 11 then "X1" else

if fm == 12 then "Z1" else " ") + fmY);

def bmp = close( "/VX" + (if bm == 1 then "F" else

if bm == 2 then "G1" else

if bm == 3 then "H1" else

if bm == 4 then "J1" else

if bm == 5 then "K1" else

if bm == 6 then "M1" else

if bm == 7 then "N1" else

if bm == 8 then "Q1" else

if bm == 9 then "U1" else

if bm == 10 then "V1" else

if bm == 11 then "X1" else

if bm == 12 then "Z1" else " ") + bmY);

# TOS may miss some vx futures quotes, so if this occurs

# re-use the prior day close for the missing entry.

# The filter below accomplishes this.

def fmpfiltered = if IsNaN(fmp) then fmpfiltered[1] else fmp;

def bmpfiltered = if IsNaN(bmp) then bmpfiltered[1] else bmp;

def reladj = if (bmpfiltered > 0) then bmpfiltered else 1;

def AbsDiffContango = if (BarNumber() < 5) then 0 else (if (configuration == configuration.commulative) then (bmpfiltered - fmpfiltered) / reladj else (bmpfiltered - fmpfiltered));

ContangoBias = if (BarNumber() < 5) then 0 else ContangoBias[1] + (if (configuration == configuration.commulative) then (bmpfiltered - fmpfiltered) / reladj else (bmpfiltered - fmpfiltered));

def bmfmReference=bmpfiltered; # bmpfiltered;

plot FmBmContango = if IsNaN(fmp) then Double.NaN

else if (configuration == configuration.percent) then Double.NaN else ContangoBias;

def ContanoPerCentage = 100 * AbsDiffContango / bmfmReference;

#def ContanoPerCentage = 100 * AbsDiffContango / bmpfiltered;

FmBmContango.DefineColor("green", Color.GREEN);

FmBmContango.DefineColor("red", Color.RED);

FmBmContango.DefineColor("white", Color.WHITE);

plot Cper = if ((configuration == configuration.percent) and (IsNaN(fmp)==0)) then ContanoPerCentage else Double.NaN;

Cper.DefineColor("green", Color.GREEN);

Cper.DefineColor("red", Color.RED);

Cper.DefineColor("white", Color.WHITE);

Cper.AssignValueColor(if (ContanoPerCentage > Threshold_shortVol) then Cper.Color("green") else if (ContanoPerCentage > Threshold_longVol) then Cper.Color("white") else Cper.Color("red"));

Cper.SetPaintingStrategy(PaintingStrategy.POINTS);

def Direction = ContangoBias > ContangoBias[1];

def DirectionChanges = if (BarNumber() == 1) then 0 else if (Direction != Direction[1]) then DirectionChanges[1] + 1 else DirectionChanges[1];

FmBmContango.AssignValueColor(if (ContangoBias > ContangoBias[1]) then FmBmContango.Color("green") else if (ContangoBias == ContangoBias[1]) then FmBmContango.Color("white") else FmBmContango.Color("red"));

FmBmContango.SetPaintingStrategy(PaintingStrategy.POINTS);

InContango = if ((BarNumber() == 1) or (DirectionChanges < 1)) then 0 else InContango[1] + (bmpfiltered > fmpfiltered);

NotContango = if ((BarNumber() == 1) or (DirectionChanges < 1)) then 0 else NotContango[1] + (bmpfiltered <= fmpfiltered);

plot UpperThreshold = if (configuration ==configuration.percent) then Threshold_shortVol else Double.nan;

plot LowerThreshold = if (configuration ==configuration.percent) then Threshold_longVol else Double.nan;

AddLabel(1, Concat("Contango inflections : ", DirectionChanges) + ", Time(bars) in Contango: " + InContango + " of " + BarNumber()+" (" + aspercent(InContango/ (InContango + NotContango))+") " + if (configuration==configuration.commulative) then "), Bars in Backwardation or same: "+ NotContango else "" , Color.GRAY);

AddLabel((configuration == configuration.percent), "" +aspercent(AbsDiffContango / bmfmReference), Cper.TakeValueColor());

AddChartBubble((configuration == configuration.commulative) and Direction and !Direction[1], ContangoBias, DirectionChanges, Color.GRAY, 1);

AddChartBubble((configuration == configuration.commulative) and !Direction and Direction[1], ContangoBias, DirectionChanges, Color.YELLOW, 0);

AddVerticalLine(VXexp(), "VX" + (if bm == 1 then "F" else

if bm == 2 then "G1" else

if bm == 3 then "H1" else

if bm == 4 then "J1" else

if bm == 5 then "K1" else

if bm == 6 then "M1" else

if bm == 7 then "N1" else

if bm == 8 then "Q1" else

if bm == 9 then "U1" else

if bm == 10 then "V1" else

if bm == 11 then "X1" else

if bm == 12 then "Z1" else " ") + bmY

+ (if (configuration==configuration.percent) then " vs VX" else " - VX") + (if fm == 1 then "F" else

if fm == 2 then "G1" else

if fm == 3 then "H1" else

if fm == 4 then "J1" else

if fm == 5 then "K1" else

if fm == 6 then "M1" else

if fm == 7 then "N1" else

if fm == 8 then "Q1" else

if fm == 9 then "U1" else

if fm == 10 then "V1" else

if fm == 11 then "X1" else

if fm == 12 then "Z1" else " ") + fmY, Color.DARK_GREEN);#color.light_orange);


     

QUIZ

1
Position management Quiz

Several questions for you to proper manage options trading risk

You can view and review the lecture materials indefinitely, like an on-demand channel.
Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don't have an internet connection, some instructors also let their students download course lectures. That's up to the instructor though, so make sure you get on their good side!
4.8
4.8 out of 5
50 Ratings

Detailed Rating

Stars 5
36
Stars 4
10
Stars 3
2
Stars 2
1
Stars 1
0
9037eff07c95e46ca8eace414208d621
30-Day Money-Back Guarantee

Includes

3 hours on-demand video
2 articles
Full lifetime access
Access on mobile and TV
Certificate of Completion