Phase 3 Options Course (Lesson 3)

Access this class by signing up for our Gold Options Package

What the Gold Options Package Includes:

  • 1 Year of Options Trading Phase 1, 2 and 3 Live Classes
  • Access to Recorded Class Sessions
  • Presentation Lesson Planner eBooks (PDF Format)

Touching Stock Market Chart

What Phase 1 Covers:

Options Market Basics

  • Basic Options Terminology & Definition
  • Rights and Obligations
  • How Much Stock Do I Control/Own?
  • Exercise and Assignment

Put / Call Parity

  • Why this Relationship is Critical to Trading Options
  • Synthetic Positions
    • Creating Calls, Puts or Stock Synthetically
    • Identifying the True Profit and Loss Potential in Your Position

Understanding Option Greeks

  • Delta – Rate of Rate
  • Gamma – Rate of Change of the Rate of Change
  • Vega - Volatility
  • Theta – Time Decay
  • Rho – Interest Rate Risk

Credit and Debit Spreads

  • What is the Difference Between Debit and Credit Spreads
  • How Take Profits AND Stay in the Trade
  • The Risk in Reaching Too Far for a Credit Spread
  • Finding Low Cost and High Return Debit Spread Opportunities
  • Reducing the High Cost of In The Money Options

What Phase 2 Covers:

  • Why Trade Equity Options
  • Options Probabilities
  • Standard Deviation and Pricing
  • Historical and Implied Volatility
  • Options Pricing Models
  • Options for hedging stock and retirement accounts
  • Directional trading - buying calls and puts

What Phase 3 Covers:

  • How and Why to Trade
    • Straddles and Strangles
    • Butterfly and Iron Butterfly
    • Condor and Iron Condor
    • Calendar Spreads
  • The Art of “Legging” In and out of Trades
  • The Time to Buy and the Time to Sell Spreads
  • Identifying the Most Profitable Vertical Spreads to Sell Using Standard Deviation
  • Learn How to Trade Expiration Week Like a Market Maker
    • Make Every Week Expiration Week with Weekly Options

About the Host

Profile photo of Greg McDermott

Greg McDermott

Master of Applied Finance (Mapp Fin), Macqaurie University, Sydney, Australia, 1989 BS Financial Management, Saint Joseph’s University, 1987. Crude Oil Options Trader at the NYMEX. Head Options Market Maker, JAS Securities, Philadelphia Stock Exchange. Managed the firm’s portfolio risk for a team of 10 options floor traders. Market Maker in Dell Computer at the PHLX Directed an Off-Floor Trading Unit for JAS Securities. Qualified as an International Securities Exchange (ISE) DTR

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