March 29, 2019

What Do I Need To Do To Start Trading Options?

You’ve made the decision to start trading options.  Congratulations!  Options offer many advantages for the novice and experienced trader alike.  But, “where do I start?” you may ask yourself.

You can trade and invest in options at almost any major broker. Typically, you will also need to apply for, and be approved for, margin and option privileges in your account.

Many brokerages offer an options-specific platform for more advanced options traders. They will feature option trading tools that let you monitor the options market, plan your strategy, and implement it in one convenient, easy-to-use, integrated place. These platforms offer an advantage if you plan on participating in complex options trades that feature three or four “legs,” or sides of a trade.

In addition, many will offer mobile trading technology, allowing you to not only monitor and manage your options, but trade contracts right from your smartphone or mobile device.

about the author:

Mike Shorr

Since 1994, Michael has been an on-the-floor market maker, Vice-President of Interest Rate Derivatives for Knight Financial Products and Director of Education and Options Instructor at Trading Advantage. He makes the oftentimes complex world of options and trading accessible to the novice and advanced trader alike. Michael has a Bachelor of Science degree in Statistics and Finance from the University of Illinois Champaign-Urbana. He presently is Director, Trader Education at ProsperTradingAcademy.

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