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STR 205: An Option Farmer in the Making

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STR 205: An Option Farmer in the Making

Are you someone with a schedule that does not allow for you to be able to watch your screen every second of the day? If so, you are not alone and you will find great value in our discussion with community member Jon (his alias in the chatroom is also just ‘Jon’). He is someone with a packed schedule and on the surface you would think there would not be any way he could “be a trader”. There is power and freedom in knowledge and Jon took the steps needed to inform himself to take advantage of an area of the market he was originally not aware of (most new people have no idea about it). Around these parts we call it options farming and it is truly a great way to get involved with the markets in a very time efficient way. Jon tells us all about where he started and how he arrived to the point of making money with minimal time required each day. Lots of knowledge is coming your way, so let’s go!

Show Notes:

  • Today we speak with community member Jon. His introduction to the market was actually a gift from his grandmother. She gave him some stock as a graduation gift and he eventually learned about dividend paying stocks.
  • While passively investing in his 401k and focusing on companies he thought had potential/believe in, he started seeing a scrolling ticker of big movers for the day. This led him to start looking into penny stocks around 2013 which was quite a time for small cap stocks.
  • After making modest gains being a passive investor, Jon started to see the allure of penny stocks and would focus on the highly discussed ones on StockTwits and iHub. While he had quite a few winners (by luck) he eventually went on a losing streak and decided to abandon penny stocks entirely.
  • Jon saw Clay post a chart analysis video and this intrigued him to look into technical analysis. After some deliberation, he joined the program and has taken a bit of time to work through the program due to his commitments outside of his day job and hobbies.
  • As he has worked through the program he noticed that the Advanced Options strategies work perfectly with him having a limited time during the day to trade actively. A previous podcast led him to investigate the opportunities of those strategies and he has been using them exclusively ever since.
  • Eventually Jon will look more into day trading but Clay and Chezz try to dissuade him from jumping into that too early. While there is nothing wrong with continuing your education and expanding your knowledge, if he only has his lunch hour to trade this can turn into a slow bleed or worse, a disaster.

Quotes:

  • I thought you could only buy or sell in 100 share lots. It wasn’t until 2011 when I discovered you could buy only 1 share of something if you wanted.
  • Here I am making 1 or 2 percent on Microsoft or Ford and I see these other stocks moving 200, 300, 1000 percent in a day. That piqued my interest a bit.
  • I would buy in and just kind of wait for the news to happen and see what the stock would do when the news did come out.
  • There’s so much material it’s crazy. It’s a good problem to have.
  • There is very little time commitment once you’re in the trade to maintain it. It’s been awesome for me.

Links:

Thanks for Listening!

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