Options Advisories?

Question

Hey guys

I am an option trader and have been in the trading for the past 3 years. Its eating up too much of time and so I want to know if there are any good reco/advisory websites out there where they give a couple of worthful options to look at for that week. I tried Steve's but wasnt satisfied with it. Ofcourse I will do my own research, but atleast to cut some time, I am in need of one of these services. Please let me know ifi you guy happen to know any.
Thanks

Answer 1

I see you have had a couple of recommendations for Optionetics. Here is what I know about them.

They charge a few thousand dollars to attend a class. Usually, if not always, they will offer you a $500 discount if you sign up a day within a few days of contacting them. In the class they will teach you a lot of good, valuable information about options trading. They will also explain to you if you want to be serious about trading you should spend thousands of more dollars to take their advanced classes.

My big problem with them is that you can get the same information, and more, at a small fraction of the price by reading a couple of good books on options. If you are not familiar with them check out "Options as a Strategic Investment" by Lawrence McMillan and "Options Volatility & Pricing" by Sheldon Natenberg.

If you are looking for someone to recommend specific stocks and/or options, I don't know what Optionetics offers, but most places I have seen offering such service charge a high price. Some try to convince you that they are good by offering money back guarantees if their selections perform below a certain threshold for a certain time period. Beware of such offers. From the company's perspective, it is a risk free investment. If their don't meet their threshold, the do not make or lose any money. If they do meet the threshold, they make a profit. Wouldn't you like to be able to make an investment that cannot lose money but can make a healthy proift?

Quite frankly, anyone who could accurately predict how particular stocks or options would behave in the future wouldn't waste time and effort selling the information when they could make so much more money doing the trading themselves.

I don't know how you trade options. If you simply buy unhedged contracts and later sell them, I don't know any real shortcuts for you. However, if you do spreads based on volatility, there are free sources of information you may be able to use to find likely candidates for spreads.

If you use, or would like to use, implied volatility (IV) percentiles to find candidates, try

http://www.optionstrategist.com/free/analysis/data/index.html

If you would like to find high and low IV stocks as candidates, try

http://www.ivolatility.com

If you would like to use most active as candidates, try

http://www.cboe.com/data/MostActives.aspx

All of those sites have other free data available, so it is worth spending some time exploring them.

Answer 2

Optionetics is good. I have been using it and helps me a lot in my trading

Answer 3

I heard optionetics was worth the money.

Answer 4

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