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Recent
Testimonials
"Your Los Angeles seminar was phenomenal! Thank you very much, you are a true
inspiration."
--Giovanni, Vassallo
Los Angeles, California
"I just wanted to thank you for the seminar you gave in San Bruno. I was impressed with your interest and
response to the Vega risk and how you reduced it. This obviously reflects a deep understanding of the issue."
--Stan Shellum
San Jose, California
"I really enjoyed your Montreal seminar and have greatly benefited from your trading tactics."
--Sylvain Leboeuf
Hawkesbury, Ontario
"I enjoyed your Salt Lake City seminar and found the refresher much needed. Your presentation was excellent
and I loved the case studies--best case, worst case, averages--which I found very compelling. Best regards."
--Mike Smith
Salt Lake City, Utah
"I just wanted to thank you again for putting on your Washington DC seminar. It was extremely educational."
--Ryan Mariner
Washington, DC
"What a great seminar! I am generally impatient in this type of venue, but found your presentation very compelling.
Many thanks."
--George Berbeco
Boston, Massachusetts
"Your material was presented methodically and progressed logically. This permitted all the students to grasp
the content without missing a step. I want to take this opportunity to thank you for coming to Toronto and facilitating
your options course. A job well done"
--Murray Kaufman
Toronto, Canada
"Your work is very thoughtful, systematic and presented in a very structured methodical manner. The seminar
answered several questions that I had been working through and solidified my thinking in a number of areas. It
was very valuable and a money maker! Thanks!"
--Marc Call
Salt Lake City, Utah
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"I just wanted to thank you for the seminar you gave in San Bruno. I was impressed
with your interest and response to the Vega risk and how you reduced it. This obviously reflects a deep understanding
of the issue."
--Stan Shellum
San Jose, California
"I really enjoyed your Montreal seminar and have greatly benefited from your trading tactics."
--Sylvain Leboeuf
Hawkesbury, Ontario
"I enjoyed your Salt Lake City seminar and found the refresher much needed. Your presentation was excellent
and I loved the case studies--best case, worst case, averages--which I found very compelling. Best regards."
--Mike Smith
Salt Lake City, Utah
"I just wanted to thank you again for putting on your Washington DC seminar. It was extremely educational."
--Ryan Mariner
Washington, DC
"What a great seminar! I am generally impatient in this type of venue, but found your presentation very compelling.
Many thanks."
--George Berbeco
Boston, Massachusetts
"Your material was presented methodically and progressed logically. This permitted all the students to grasp
the content without missing a step. I want to take this opportunity to thank you for coming to Toronto and facilitating
your options course. A job well done"
--Murray Kaufman
Toronto, Canada
"Your work is very thoughtful, systematic and presented in a very structured methodical manner. The seminar
answered several questions that I had been working through and solidified my thinking in a number of areas. It
was very valuable and a money maker! Thanks!"
--Marc Call
Salt Lake City, Utah
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***********************************************************************
The Complete Options Strategist Mentoring
Program
One-on-One Pricing US
$1,000*
DOWNLOAD PAYMENT/REGISTRATION FORM
*Includes full coverage
of The Complete Options Strategist Modules.
Sessions are held live
online in two-hour time frames and until all material is full
learned.
Private Mentoring Program Modules/Course Content
(Click on a module link below for content details)
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The Complete Options Strategist Course Content
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Module 1: Essential Options Characteristics and Concepts
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Module 2: Options Greeks And How To Use Them Effectively
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Module 3: Trading With Simple Options Spreads
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Module 4: Intermediate Level Options
Spreading: Calendars
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Module 5: Advanced Options Spreading Strategies:
Diagonals
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Module 6 :
Combination Strategies: Strangles & Straddles
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The Complete Options Strategist Course Content
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Module
1: Essential Options Characteristics and Concepts -
The module begins by reviewing all the necessary
parts of the options story. Most traders already have a fairly good
understanding of basic options concepts, but a fresh review and
professional perspective on important areas -- such as time value
(extrinsic value), intrinsic value, expiration, exercise and
assignments, and pricing specs -- helps to focus attention on what's
important in relation to strategies to follow in subsequent modules.
In this module, data is presented showing why options selling
(writing) makes more sense than buying options as a strategic
approach. Highlights from two reports on options expiration patterns
and open and closing trades are shared with students, and discussed.
"Is there an advantage to selling options?" is a key question that
is explored in light of the efficient markets hypothesis argument.
Put/call ratios are looked at to help answer the question, in
addition to data from the two reports. Finally, differences between
futures and equity options are explained, and how these two worlds
of option trading don't have the same margin rules. Different margin
systems are explained, with an emphasis on advantages offered by
SPAN margin rules used with futures options. Index options, ETF
options markets are also part of the discussion. At the end of this
module, students have all the prerequisites to move into strategy
implementation. Back
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The Complete Options Strategist Course Content
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Module 2: Options Greeks And How To
Use Them Effectively - With a solid understanding of the
basics, we can now move into looking at how to understand risk and
reward in options trading. In order to better understand strategies,
which will begin to be covered in Modules 3 thru
6, here we look at Delta, Theta, Vega, Gamma and Rho. This allows you to
get a sense of what makes any options strategy win or
lose. Each one of these so-called option Greeks gives
us a way to meter the risk and potential reward at any
one point. Whether from directional moves of the
underlying or changes in volatility or time remaining on an option
or options, we can use the Greeks to examine where we stand
at any point in time. Greeks are important, moreover, when setting
up strategies to get the risk/reward parameters right, especially
in line with available capital and determining levels of asset
allocation
.
Back
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The Complete Options Strategist Course Content
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Module 3: Trading With Simple Options
Spreads - With risk/reward
at the ground floor understood with the analysis of the
Greeks, we can now move to application of these concepts in trading
options using simple spreads. When you buy options or sell
them outright you expose yourself to a greater level of risk than
when you combine them in what are known as vertical options spreads
(i.e., buying a call and selling a higher strike call in the
same month). In this module, vertical options spreads are
presented and analyzed providing a full grasp of the
profit/loss parameters. Additionally, the market conditions allowing
for the optimal application of vertical call and put
vertical spreads are explored. Furthermore, paper trading positions are
set up and tracked across time for dynamic analysis of these
simple spread structures.
Back
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The Complete &
Master Strategist Options Course
Content
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Module 4:
Intermediate Level Options
Spreading: Calendars - Calendar spreads are two-leg spreads,
just like vertical spreads, but they are built using different options months. In
vertical spreading, we use the same options expiration month for
the two legs in the spread. But calendar spreads will
combine what is known as a front and
back month option using the same strikes to take
advantage of the time value decay potential in this construction. Theta, the rate
of time value decay, is working for you in calendar spreads.
Additionally, the right markets to apply calendars is taught, as are the important conditions needed
in those markets for optimizing performance of
calendars and minimizing risk. Finally, the application of calendars
is explored with use of case studies
and paper trading positions set up and tracked across time
for dynamic analysis of these intermediate-level spread structures. Not all
calendars use the same strikes and when strikes are not the
same, they are known as diagonal, as opposed to horizontal,
calendar spreads. Diagonal spread are covered in Module
5.
Back
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The Complete Options Strategist Course Content
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Module
5: Advanced Options Spreading Strategies:
Diagonals - This
module begins with a quick review of options spreads
concepts (vertical, horizontal and diagonal) and then lays
out the rules for applying diagonal put time
spreads on the S&P 500 index (extendable to other markets). The module
walks you through the important dimensions of
this advanced level strategy in its two basic forms (debit and credit spreads).
Generally, the diagonal spread can make a potential profit
from time value decay, but directional moves of
the underlying and positive changes in implied volatility can add
significant potential gains. Due to its time (calendar) spread nature,
the process of Delta and Vega inversion (a process brought about by Theta) are the
real potential profit engines, demonstrated in
this module. The module provides the setup steps and then takes
a careful look at the profit/loss impact resulting
from changes in key variables (volatility,
price change, and time value decay). Simulations are executed to bring
to live the essential characteristics of the diagonal
strategy, and paper trading postions
established. The module teaches you the methodology for
selection of strikes and how to set up balanced and unbalanced
Greeks, as well as when to apply this strategy with the
correct position Greeks, and in what position sizes relative to
available risk capital. You are also taught how to prepare and
apply defensive actions and other types of follow-up
interventions to mitigate risk and preserve potential
for profit through examination of a number of case
studies. By the end of the module, students have a solid feel for
applying this strategy.
Back
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The Complete
Options Strategist Course Content s
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Module 6:
Combination Strategies:
Strangles & Straddles - In our final module, the
combination approach to trading options is explored. By combination,
we mean building a strategy that uses both calls and
puts together in a package. There are many ways to combine puts
and calls, but here we will focus on popular approaches known
as strangles and straddles. We begin by looking
at uncovered (i.e., unhedged) approaches using strangles and straddles.
After fully exploring the risk/reward dimensions of
both long (buying) and short (selling) unhedged versions of
strangles and straddles, we move to hedged constructions,
which will still allow for potential profit, but with
much less risk. Hedged short strangles are popularly known as
iron condors. The iron condor will be fully examined and its
correct application exlained.
Back
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PLEASE NOTE:
Seminars offered by John Summa, and all data and trading ideas provided at OptionsNerd.com, have
been prepared solely for informational purposes, and are not an offer to buy or sell, or a
solicitation of an offer to buy or sell, any security or trading instrument, or a recommendation to participate in any
particular trading strategy or program. The information presented in webinars and at OptionsNerd.com is for general informational
purposes only and educational in nature. Be aware that there is risk of loss trading futures and options. Trade
with risk capital only. Past performance is not a guarantee of future profits. Futures and options trading may
not be suitable for everyone. All sales are final.
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