It took me more than a year to understand options - I started by watching a lot of YouTube tutorials, reading up online and executing some basic strategies on “cheaper” stocks so that lesser capital was needed. During my first year, I made a lot of mistakes like closing my losing positions too early when actually I could have just taken assignment of the stocks and sold calls, or simply rolled the put out to a later expiration. I was also too ambitious and chasing unrealistic yields by selling puts too close to the money. All these resulted in a 4 figure loss in my first year. Since then, I have learned to better pick the appropriate strike price and expiration dates, and better learned how to manage my risk. As with all things, trading options is risky and dangerous if you don’t have the requisite knowledge and mindset. However, if used correctly and appropriately, it can become a useful lever to help accelerate your goal towards financial freedom. Cheers!Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
