Millionaire TradersI wanted to play with. So, when I went back in, I was a little more
conservative, I did a little more research on the company I would
trade in. I realized if the stock dips, I don’t feel bad buying a little
more, whereas before I would just exit out.
Q: When did you introduce options trading to the mix?
A: Quite honestly, I got bored with the low volatility in the
stock market. Just after the big crash it just seemed like nothing
really moved and the stuff that did move everybody was playing.
So I wanted something that had more action and was more of
a challenge and, of course, options fit the bill. I don’t claim to
be an expert, but I got so lucky with my first trade in options. I
bought 30 dollar options and I sold them out for a 1,000 percent
profit.
Q: How long did that take?
A: I was hooked [laughter]. That was over one-month and it was
a stock that you wouldn’t think would move. It was amazing, I just
got lucky [laughter].
Q: How were you introduced to options? Did you take a class or
seminar to learn how to trade them?
A: Well. our company actually gave us stock options, and I was
so curious about what it meant to have stock options. I started
doing research and figuring out what options were. I thought,
“Hey I could use a put and call to help me out in the market, to
hedge against different plays.” So I started using them especially
for companies that I thought were going to have the high level of
volatility coming up like the release of drug studies. Stuff like that
actually worked quite a bit for me.