Optionetics - has anyone attended the course?

Question

Is it worth it and do you really learn to make guaranteed profit if you follw the system?

Answer 1

I have not attended the course but I have seen several reports from others who have attended. As I understand it:

(1) the first course will teach you
--- some good, helpful information about trading options
--- that you need to buy their software and/or a subscription
--- that if you are really serious about options trading you need to take one or more of their advanced classes for several thousands of dollars more.

(2) the profit they guarantee is only guaranteed by them and carries certain requirements, including a minumum amount of trading, and a maximum amount equal to the fee you paid for their class.

The biggest problem that I have with Optionetics and their ilk is that they charge you thousands of dollars for information that you can get for less than $200.You can start at the CBOE learning center at

http://www.cboe.com/LearnCenter/default.aspx

and take free tutorials, classes and webcasts.

With that background you should be able to pick out one or two good books on options trading and read them. There is a bibliography of good books at

http://www.cboe.com/Institutional/Bibliography.aspx

but to pick the best book for you I recommend you go to a large library, a large bookstore or amazom.com and browse through several books from the bibliography and pick one or two written in a style with which you are comfortable. Two books I recommend you consider are "Options as a Strategic Investment" by Lawrence McMillon and "Options Volatility & Pricing" by Sheldon Natenberg.

Don't be afraid to ask qustions. Help is available in several places. On Yahoo there is at least one message board, at

http://messages.yahoo.com/Business_%26_Finance/Investments/forumview?bn=4686677

that includes multiple participants who have been options professionals for decades. (At the moment there is at least one individual doing his best to disrupt that particular message board, so be very careful interpretting what you read there.)

As for the guarantee, remember it does not cover any losses you may experience, only the cost of the class. If you think that sounds like a good deal, consider this. If you can get together two more people for $1,000 each I will teach the three of you how to at least double your money playing roulette. I will tell one of you to bet on the black numbers, one of you to bet on the red numbers, and one of you to bet on the green numbers, all on the same roll. One of you will win and the other two will lose. I will refund the $1,000 fee to the two losers and keep the $1,000 from the winner as a risk-free profit.

There are no secrets to trading options. Everything that Optionetics can teach you is available elsewhere. Hence I think the price they charge is a rip-off. (By the way, if they offer you $500 off to sign up by a certain day, don't fall for it. That is simpoly a pressure tactic. If they are willing to give you $500 off now you can get the same thing later.)

Since I have not attended an Optionetics class this is all my opinion based on what I have read about them. You can get others' opinions by using the "search for questions" facility on Yahoo answers to seach for "optionetics".