Ophir Gottlieb

The Intelligence Behind Options Earnings Trading in The Coca-Cola Company (NYSE:KO) The Coca-Cola Company (NYSE:KO) : The Intelligence Behind Options Earnings Trading Date Published: 2017-05-5 LEDE This is a simple options trade that starts the day after The Coca-Cola Company (NYSE:KO) earnings and lasts for the one month to follow, that has been a winner for 3 straight years. The Coca-Cola Company (NYSE:KO) Earnings While the mainstream media likes to focus on the actual earnings move for a stock, that's the distraction when it comes to the option market. For The Coca-Cola Company, irrespective of whether the earnings move was up or down, if we waited one day after the stock move, and then sold an one-month out of the money put spread, the results were simply staggering. STORY Everyone knows that the day of an earnings announcement is a risky event for a stock. This can be explicitly seen in the option market, where the implied volatility (the expected stock move) rises into the earnings event. We can examine this, objectively, with a custom option back-test. Here is our earnings set-up: Rules * Open short put spread one day after earnings * Close short put spread 29 days later * Use the 30-day options RETURNS If we sold this out-of-the-money put spread in The Coca-Cola Company (NYSE:KO) over the last three-years but only held it after earnings we get these results: Short Put Spread * Monthly Options * Back-test length: three-years * Open 1-day After Earnings * Close 29-days Later * Holding Period: 30-Days per Earnings Winning Trades: 11 Losing Trades: 1 Post-Earnings Short Put Spread Return: 85.8% Annualized Return: 87% We see a 85.8% return, testing this over the last 12 earnings dates in The Coca-Cola Company. That's a total of just 360 days (30 days for each earnings date, over 12 earnings dates). We can also see that this strategy hasn't been a winner all the time, rather it has won 11 times and lost 1 times, for a 92% win-rate and again, that 85.8% return in less than one-full year of trading. MORE TO IT THAN MEETS THE EYE While a short put spread is a strategy that gains profits if the underlying stock "doesn't go down a lot," there is more to this with The Coca-Cola Company. In many ways, earnings results are just a coin flip -- and we are not interested in flipping coins with option strategies. What we're after with this approach is identifying companies that make their large stock move the day after earnings -- whether that's up or down -- and after that, find a sense of equilibrium in the stock price for the next month. This is what we find in The Coca-Cola Company (NYSE:KO) . We can see that this idea has been a winner more times than it has been a loser -- a 92% win-rate. It's that positive win-rate that has created that large 87% annualized return. WHAT HAPPENED Traders that have a plan guess less. This is how people profit from the option market. Take a reasonable idea or hypothesis, test it, and apply lessons learned. We hope, if nothing else, you have learned about The Coca-Cola Company (NYSE:KO) and the intelligence and methodology of option trading and this idea of equilibrium right after earnings.To see how to do this for any stock and for any strategy with just the click of a few buttons, we welcome you to watch this quick demonstration video: Tap Here to See the Tools at Work Thanks for reading. Risk Disclosure You should read the Characteristics and Risks of Standardized Options. Past performance is not an indication of future results. Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.

Great find. I am also finding some great trades with this new feature. Kind of feel bad for the rest of the world that doesn't have it, tbh.

The Secret Behind Options Pre-Earnings Trading in Intel Corporation (NASDAQ:INTC) Intel Corporation (NASDAQ:INTC): The Wonderful Secret Behind Options Pre-Earnings Trading Date Published: 2017-05-4 PREFACE There is a wonderful secret to trading options right before earnings announcements in Intel Corporation (NASDAQ:INTC) , and really many stocks, that benefits from the rising implied volatility but avoids the risk into the actual earnings release and also avoids any kind of stock direction risk. THE WONDERFUL SECRET What a trader wants to do is to see the results of buying an at the money straddle a few days before earnings, and then sell that straddle just before earnings. The goal, is two-fold: (i) to benefit from that known implied volatility rise, and (ii) to own the straddle for a very short period of time when the stock might move 'a lot,' but never take the risk of actually owning options during the earnings release. If either of those two phenomena occur, there's a very good chance this wins, if neither occur, the amount risked is normally quite small. Here is the setup: We are testing opening the position in Intel Corporation 6 days before earnings and then closing the position right before earnings. This is not making any earnings bet. This is notmaking any stock direction bet. Once we apply that simple rule to our back-test, we run it on an at-the-money straddle: RETURNS If we did this long at-the-money (also called '50-delta') straddle in Intel Corporation (NASDAQ:INTC) over the last three-years but only held it before earnings we get these results: We see a 47.8% return, testing this over the last 12 earnings dates in Intel Corporation. That's a total of just 72 days (6 days for each earnings date, over 12 earnings dates). That's a annualized rate of 242%. We can also see that the win/loss rate is split with 6-wins and 6-losses, yet the return is enormous. That means the winning trades are much larger than the losing trades, which is exactly what a successful trading strategy attempts to do. No magic bullets -- rather smart methodologies for wealth creation. MORE TO IT THAN MEETS THE EYE While this strategy is benefiting from the implied volatility rise into earnings for Intel Corporation (NASDAQ:INTC), what it's really doing is far more intelligent. The ideal stocks for this strategy have a couple of common characteristics: (i) The companies rarely pre-announce earnings -- this is an investment that does not look to make an earnings bet, so an earnings pre-announcement is the opposite of what we're hoping for. (ii) The underlying stock price of these companies tend to move a lot (or some) as earnings approach and various institutions and traders shuffle the stock price around in anticipation of the earnings result. The more one sided the outside world starts betting on direction -- up or down, the better it is to own the straddle. WHAT HAPPENED This is it -- this is how people profit from the option market -- it's preparation, not luck. Test the results on Apple Inc and Alphabet Inc, and the results are staggering. To see how to do this for any stock and for any strategy with just the click of a few buttons, we welcome you to watch this quick demonstration video: Tap Here to See the Tools at Work Thanks for reading. Risk Disclosure You should read the Characteristics and Risks of Standardized Options. Past performance is not an indication of future results. Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. The author has no position in Intel Corporation Inc (NASDAQ:INTC) as of this writing. Back-test Link (does require custom earnings settings).

This Option Trade After Facebook Earnings Has Won For 3 Years in a Row Date Published: 2017-05-04 Written by Ophir Gottlieb LEDE This is a simple option trade that starts the day after Facebook Inc (NASDAQ:FB) earnings and lasts for one month that has won for three straight years without a loss. FACEBOOK EARNINGS While it's fun to focus on the actual earnings move for a stock, that's the distraction when it comes to options. For Facebook Inc, irrespective of whether the earnings move was up or down, if we waited on day after the stock move, and then sold an out of the money put spread, the results were simply staggering. We can examine this, objectively, with a custom back-test. Here is our custom earnings set-up: Rules * Open short put spread one day after earnings * Close short put spread 29 days later * Use the 30-day option Here are the results over the last three-years: That's a 104% return, with 11 winning trades and 0 losing trades. The total holding period was 11 months. No earnings risk was taken -- this is not a coin flip over earnings. Here's how it did over the last two-years. That's a 54.6% return, on 7 winning trades and 0 losing trades. Since this is a total of a seven-month holding period, that 54.6% is actually 93.6% annualized. Finally, we examine the last year: We see a 34.4% return, on 3 winning trades and 0 losing trades. Since this is just a total of a three-month holding period, that is a 137.6% annualized return. In other words, the trade has continued to work, and the returns are not getting weaker. WHAT HAPPENED As great as this trade looks, it is not a panacea. This is not a sure thing -- no trade will "always win." But, there are patterns to stock behaviors before and after earnings and those patterns reveal opportunities in the option market, without taking the actual risk of earnings. You can find them, stock by stock, like Apple and Google before earnings. This is how people profit from the option market -- it's preparation, not luck. To see how to do this for any stock and for any strategy with just the click of a few buttons, we welcome you to watch this quick demonstration video: Tap Here to See the Tools at Work Thanks for reading. Risk Disclosure You should read the Characteristics and Risks of Standardized Options. Past performance is not an indication of future results. Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. The author has no position in Facebook Inc (NASDAQ:FB) as of this writing. Back-test Link (does require custom earnings settings).

For Option Traders, The Real Opportunity in Tesla Inc is After Earnings Date Published: 2017-05-03 Written by Ophir Gottlieb LEDE Tesla Inc, with all of its stock volatility and uncertainty, follows a beautiful pattern after earnings are released and it makes for an opportunity with options. But, we are waiting for the volatile stock move after earnings to happen, and in that next 30-days of equilibrium, we find a gem. TESLA INC AFTER EARNINGSWe can examine this, objectively, with a custom back-test. Here is our custom earnings set-up: Said plainly, we will open our position one day after earnings, and close it 30 days later. We after testing using the 30-day options (monthly option) and we are simply selling an out of the money put spread. To be clear, this is bet that, after the big earnings move, when the price finds an equilibrium, for the 30-days following, a bet that the sock "won't go down a lot," has been a big winner. Here are the results over the last three-years: While that 95.3% return looks tasty, it's actually better than it seems. We treat Tesla's quarterly sales press releases as earnings events too, as any truly knowledgeable trader would. In total, there were 23 earnings and quarterly sales releases in this 3-year period, so that would be 23 trades. That's 23 trades, each for one month, for a total holding period of 23 months. We see 15 winning trades and 8 losing trades. This isn't a panacea -- it's real analysis -- where we look for edge, and repeating patterns. Where risk taken is less than the reward received. It's a fair question to ask if this strategy actually works over different time periods. Here are the results over the last two-years: Now we see a 61.2% return over the last sixteen earnings releases. The short-put spread was a winner 12-times, and it was a loser 4-times. Again, the trade was a winner the majority of the time, not all of the time. But this is a strategy, not an one-time gamble. Finally, we examine the six-months: That's a 33.3% return over the last three earnings releases, and all three trades were winners, while not taking any risk of the actual earnings release. WHAT HAPPENED There are patterns to stock behaviors before and after earnings and those patterns reveal opportunities in the option market, without taking the actual risk of earnings. There is another approach to Tesla Inc before earnings, that we discussed a few days ago. This is how people profit from the option market -- it's preparation, not luck. Take an idea, test it over several periods, note the robustness of the results, and apply lessons learned. To see how to do this for any stock and for any strategy with just the click of a few buttons, we welcome you to watch this quick demonstration video: Tap Here to See the Tools at Work Thanks for reading. Risk Disclosure You should read the Characteristics and Risks of Standardized Options. Past performance is not an indication of future results. Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. The author has no position in Tesla Inc (NASDAQ:TSLA) as of this writing. Back-test Link

Yep. Been looking.

Exactly. Try to use numbers where the back-tester doesn't have to search for an expo, bc that can lead to weird times where you run a back-test one day, then get different results with a different start date bc one expiration may be closer than another. The calcs are right, but we are after robustness, and in that vein, let's turn the machine onto what we know can be repeated.

i really urge you to use standard expiration times, like 7, 30, 60, etc. When it's ambiguous, the back-tester will pick up some odd expirations -- it's correct, but it will not necessarily be repeatable in real-life.

In my opinion, a proper use of the back-tester and custom strategies can be a great wealth creating implementation for options and as far as I know is only available with Trade Machine. Why everyone wouldn't pay the promo $49 just to have in your back pocket is truly a mystery to me.

The Secret to Options Trading in Apple Before Earnings There is a wonderful secret to trading options right before earnings announcements in Apple Inc (NASDAQ:AAPL), and really many stocks, that benefits from the rising implied volatility but avoids the risk into the actual earnings release and also avoids any kind of stock direction risk.

Gamma

For sure (didn't take it as a criticism, btw. V happy to see you using it.).

The point is exactly that. In a small period of time, where IV is determined to be "normal," there is an opportunity ahead of earnings to take that IV, and realize three things: (1) The vol rise will likely offset a little bit of the decay, so a 5-day holding period of a monthly straddle with earnings in it can sustain its value "pretty well" if the stock doesn't budge. That limits the downside in those 5-days. (2) If the stock does vacillate before earnings, the upside to that long straddle is outsized compared to that limited downside. (3) We have anecdotal evidence of this by seeing a trade that lost more often than it won, but yielded really strong returns, anyway. That means the wins were much larger than the losses, which is exactly the thesis behind this trade. This goes much further than a vol bet through calendars, and gets at the guts of successful option trading -- if you can make bets that are very cheap (with respect to downside risk) but have a non trivial potential of a sizable upside, you will growth wealth. This is very different than buying a $0.05 call option and saying, "hey, the most I can lose is $0.05." Er, no, the most you can lose is 100%, and likely will. A portfolio of these straddles that have proven to be successful over time will likely create a serious opportunity for wealth creation on a sound theoretical basis.

The Wonderful Secret Behind Options Earnings Trading in Twitter Inc (NYSE:TWTR) Discovering Volatility in Twitter Inc Twitter Inc (NYSE:TWTR) : The Wonderful Secret Behind Options Earnings Trading Date Published: 2017-05-2 PREFACE There is a wonderful secret to trading options right before earnings announcements in Twitter Inc (NYSE:TWTR) , and really many stocks, that benefits from the rising implied volatility but avoids the risk into the actual earnings release and also avoids any kind of stock direction risk. This approach has returned 19.5% with a total holding period of just 60 days, or a annualized rate of 119%. Now that's worth looking into and remembering for the next earnings release in a few months. STORY Everyone knows that the day of an earnings announcement is a risky event for a stock. This can be explicitly seen in the option market, where the implied volatility (the expected stock move) rises into the earnings event. Here is a great illustration of that reality using Google, just as as simple example, and a chart of its 30-day implied volatility over the last two-years, before we turn to Twitter Inc . While the implied volatility ebbs and flows, it generally rises into earnings, which are denoted in the chart below with the "E" icon. We circled the rise in yellow for convenience. The question every option trader, whether professional or amateur, has long asked is if there is a way to profit from this known volatility rise. It turns out, that over the long-run, for stocks with certain tendencies, the answer is actually, yes. THE WONDERFUL SECRET What a trader wants to do is to see the results of buying an at the money straddle a few days before earnings, and then sell that straddle just before earnings. The goal, is two-fold: (i) to be to benefit from that known implied volatility rise, and (ii) to own the straddle for a very short period of time when the stock might move 'a lot.' If either of those two phenomena occur, there's a very good chance this wins, if neither occur, the amount risked is normally quite small. Here is the setup: We are testing opening the position 6 days before earnings and then closing the position 1 day before earnings. This is not making any earnings bet. This is not making any stock direction bet. Once we apply that simple rule to our back-test, we run it on an at-the-money straddle: RETURNS If we did this long at-the-money (also called '50-delta') straddle in Twitter Inc (NYSE:TWTR) over the last three-years but only held it before earnings we get these results: Long At-the-Money Straddle * Monthly Options * Back-test length: three-years * Open 6-days Before Earnings * Close 1-day Before Earnings * Holding Period: 5-Days per Earnings Winning Trades: 5 Losing Trades: 7 Pre-Earnings Straddle Return: 19.5% Annualized Return: 119% We see a 19.5% return, testing this over the last 12 earnings dates in Twitter Inc. That's a total of just 60 days (5 days for each earnings date, over 12 earnings dates). That's a annualized rate of 119%. We can also see that this strategy hasn't been a winner all the time, rather it has won 5 times and lost 7 times, for a 42% win-rate and again, that 19.5% return in less than two-full months of trading. WHAT HAPPENED This is it -- this is how people profit from the option market -- it's preparation, not luck. We hope, if nothing else, you have learned about Twitter Inc (NYSE:TWTR) and the wonderful secret of option trading and volatility ahead of earnings. To see how to do this for any stock and for any strategy with just the click of a few buttons, we welcome you to watch this quick demonstration video: Tap Here to See the Tools at Work Thanks for reading. Risk Disclosure You should read the Characteristics and Risks of Standardized Options. Past performance is not an indication of future results. Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. The author has no position in Twitter Inc stock as of this writing. Back-test Link (requires custom earnings set-up).

You can find a list of momentum stocks almost anywhere. We are adding scanning, but that is a few months way. It will also create two versions of the product. One for $49 and the other for $99. Until then, just watch for our news -- I look every day -- check the Discover Tab.

Yep. Homework to be done. That's why we created the Trade Machine. If you work harder than the next guy, you will likely make more money.

Correct. We released it as fast as possible, so the URL tagging isn't up yet. Very good note to all.

So, it's a riskier trade. You do have the benefit of watching the stock pot earnings and using "human intervention," but still... it's a riskier trade.

Apple Inc (NASDAQ:AAPL) Earnings Pose a Serious Opportunity Date Published: 2017-05-01 Written by Ophir Gottlieb LEDE While all the focus is on Apple Inc (NASDAQ:AAPL) earnings, the really serious opportunity in the option market is actually after earnings. APPLE INC AFTER EARNINGS Apple Inc (NASDAQ:AAPL) has a tendency after earnings to trail off. That is, the stock tends to move in one direction or the other for the following month, and that makes for a wonderful opportunity with options. We can examine this, objectively, with a custom back-test. Here is our custom earnings set-up: Said plainly, we will open our position one day after earnings, and close it 30 days after. We are testing using the 30-day options (monthly option) and we are buying the at-the-money (also called the "50 delta") straddle. Here are the results over the last three-years: That's not a typo -- that's 371% over the last three-years. Since we are only testing an one-month trade in the most recent 11 earnings releases, that return came after just 11-months of a holding period. We note that the straddle was a winner 6-times, and a loser 5-times. So, this is not a panacea, not a magic bullet, it is objective analysis that has been a giant wealth creator over time. The trade was a winner about half of the time -- the winners were just much (much) larger than the losers. Here are the results over the last two-years: Now we see a 183% return over the last seven earnings releases. The straddle was a winner 4-times, and it was a loser 3-times. Again, the trade was a winner about half of the time. This is a strategy, not an one-time gamble. Finally, we examine the last-year: That's a 55.2% return over the last three earnings releases, with 1-winning trade and 2-losing trades. For the curious trader, it turns out the putting a stop loss in place actually yields better results over the last two-tears and one-year and takes 30% less risk. We tested that by simply doing this: WHAT HAPPENED Traders that have a plan guess less. This is how people profit from the option market -- it's preparation, not luck. Take an idea, test it over several periods, note the robustness of the results, and apply lessons learned. To see how to do this for any stock and for any strategy with just the click of a few buttons, we welcome you to watch this quick demonstration video: Tap Here to See the Tools at Work Thanks for reading. Risk Disclosure You should read the Characteristics and Risks of Standardized Options. Past performance is not an indication of future results. Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. The author is long shares of Apple Inc (NASDAQ:AAPL) stock as of this writing. Back-test Link

email support. We will delete you from the Db, then allow you to sign up again. It's a little clunky, but it will work.

You are literally only trading earnings in a back-test if you set it right. The rollover has a huge impact bc it implies if you are trading the 7-day, 30-day, 60-day, etc options. The rollover defines which option expiry you are trading, not the time to earnings. If you see differently, please email support with the link to your back-test, we will address it immediately!

Yep, we are too! Just as an FYI, at some point the $49 promotion will end, and the price will rise (for new members, not existing). While we don't know when we do know it will surround product upgrades. In any case, we are all excited about the mid May release!

I found monster edge in Google. Watch the video here

I have found several that are winners, but in any case, we are now working on custom strategies, so calendars will be up soon.

The Wonderful Secret Behind Options Earnings Trading in Alphabet Inc (NASDAQ:GOOGL) Date Published: 2017-04-27 Written by Ophir Gottlieb LEDE There is a way to trade options right before earnings announcements in Google, and all stocks, that benefits from the rising implied volatility but avoids the risk into the actual earnings release. This approach has returned nearly 90% in Alphabet Inc (NASDAQ:GOOGL) options with a total holding period of just 55-days. PREFACE Everyone knows that the day of an earnings announcement is a risky event for a stock. This can be explicitly seen in the option market, where the implied volatility (the expected stock move) rises into the earnings event. Here is a great illustration of that reality using Alphabet Inc and a chart of its 30-day implied volatility over the last two-years. While the implied volatility ebbs and flows, it always rises into earnings, which are denoted in the chart below with the "E" icon. We circled the rise in yellow for convenience. The question every option trader, whether professional or amateur, has long asked is if there is a way to profit from this known volatility rise. It turns out, that over the long-run, for stocks with certain tendencies, the answer is actually, yes. Yes, there is a systematic way to trade this repeating phenomenon, without making a bet on earnings or stock direction. THE WONDERFUL SECRET What a trader wants to do is to see the results of buying an at the money straddle a few days before earnings, and then sell that straddle just before earnings. The goal, at first, appears to be to benefit from that known implied volatility rise, but as we will see soon, there is actually much more to gain from this trade. This trade is not a panacea, which is to say, we have to test it, stock by stock, to see when and why it worked. We start with Alphabet Inc (NASDAQ:GOOGL). Here is the setup: We are testing opening the position 6 days before earnings and then closing the position 1 day before earnings. We are not making any earnings bet. Once we apply that simple rule to our back-test, we run it on an at-the-money straddle: We see a 89% return, testing this over the last 11 earnings dates in Google. That's a total of just 55 trading days (5 days for each earnings date, over 11 earnings dates). We can also see that this strategy hasn't been a winner all the time, rather it has won 8 times and lost 3 times, for a 72.7% win-rate and again, that staggering 89% return in less than two-full months of trading. This approach as also been a large winner over the last two-years: We see a 41.9% return over seven earnings releases, with 5 winning trades and 2 losing trades, or a 71.4% win-rate. BUT WHAT'S REALLY HAPPENING? While this strategy is benefiting from the implied volatility rise into earnings, what it's really doing is far more intelligent. The option prices for the at-the-money straddle will show very little time decay over this 5-day period, so what this strategy really does is buy "five free days" of potential stock movement. If that sounded weird, here it is in black and white: The first trade in this 2-year back-test was to purchase the 557.5 strike straddle in Google on July 10th, 2015 in anticipation of the earnings that came out on July 16th. The opening straddle was purchased for $29.20. But, between July 10th and July 15th (the date the straddle was closed), here's what Google stock did: While no news was released during this time with respect to earnings, the stock climbed in anticipation of the event. That rise made owning the straddle a winner -- it was sold at $35.40 which was a 21% winner in five days. Of course, if the stock had declined, that would have been an equally big winner. But the real moment of clarity is to understand that if the stock did nothing, the straddle was about breakeven. So, what we're really seeing here is that owning this earnings straddle just a few days before the event, and selling it right before the event, gets us a window of a sort of "very cheap bet," where the upside is enormous, and the downside is quite limited. As an example of the limited risk, we can turn to the earnings event the next year, on July 28th, 2016. Here's what Google's price did: The stock basically went nowhere and so did the straddle. It was opened for $41.70 and was closed for $41.75. The trade was a wash, but, it gave us those few days to potentially have a stock move with muted risk. Over time, having this "low risk five-day option," turned into a monster winner. There were some small losers, some small winners, some large winners, but there were no large losers. WHAT HAPPENED This is it -- this is how people profit from the option market -- it's preparation, not luck. To see how to do this for any stock and for any strategy, with just the click of a few buttons, we welcome you to watch this 4-minute demonstration video: Tap Here to See the Tools at Work Thanks for reading. Risk Disclosure You should read the Characteristics and Risks of Standardized Options. Past performance is not an indication of future results. Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition. The author has no position in Alphabet Inc (NASDAQ:GOOGL) stock as of this writing. cc @Kim