…It’s the crack of Wall Street.
You probably know exactly what I’m talking about.
The first time you hit it, you’ll remember that high for the rest of your life.
After that, you’ll end up as a fiend chasing it and likely drawing your account down significantly several times.
It’s never the same nor enough.
That high we all chased is… picking direction and profiting from it.
I know, because I once was exactly that same way.
I’d jump out of my chair hitting my chest and saying, “I’m the f&cking man!”
Then before you know it, your ego gets ahead of you and you hit that streak of losing trades.
You realize your risk is too much, but you start to hope, pray and hang in there.
It doesn’t happen… you start to scramble.
Your anger is getting the best of you and you find yourself taking out all your frustration and anger when your spouse asked, “how was your day?”
Not only does your PnL tell you how crappy you are at that moment, the voices of self-doubt get louder.
The market has you by the balls and is squeezing.
You’re weak… on your knees and desperate.
You need that drug again to bring you back to life.
You scour the internet reading articles, message boards and joining webinars about how this person has this “super secret indictor” that would have prevented your most drawdown.
You buy it!
Then you buy another person’s and then another.
You keep chasing every shiny indicator, system or guru out there while your account is on life support.
You’re stuck like a tire in mud!
You heard that unusual options activity can signal a potential move in a underlying before it occurs.
You might even follow Twitter avatars who are “supposedly” are making a killing using it and tweeting about it.
That’s why you probably found this site.
If you’re new, I’ll save you the long story.
I started posting about unusual options activity in October 2008, there was me and just one other company.
I actually went to them after I left my trade desk job in Chicago wanting to work for them.
I never heard back…
…So I started my own thing.
Hell, who wants to work for someone anyways? I want control of my future!
Since then, seems like everyone I see is an unusual options activity expert.
Sounds like the Holy Grail you haven’t heard of yet.
It also make sense right?
There’s more transparency than stocks with blocks of calls or puts that traded on the bid or ask, which can help you determine if they were bought or sold.
That is true, but there are so many more games played now. For example prop desks will place a large trade and then pump some news about unusual options activity for these other experts to push out and for their followers to buy in as those traders sell into it.
There are so many names that see “unusual options activity” each and every day, it’s really hard to be consistent on knowing which ones are good candidates.
I’ll admit, there are people who push the envelope in the financial industry and pay for inside information.
If they are smart enough to understand leverage, they will go into the options market.
However, sometimes knowing tomorrow’s news isn’t good enough.
You never know how the market will react to news in which they believe will move the stock higher or lower.
Even worse, most people haven’t taken the time to learn how to use options the right way. Like understand how implied volatility works or why selling a put could better than buying an OTM call in that underlying.
However, it should only be a small slice of your approach when trading options.
With that said, here’s a Free training about unusual options activity that will help you understand and trade it better.
P.S. While this training will help you better than other crap out there, some of my thoughts and approaches have evolved.
I want to you to do two things.
2) Download this free report