The principals of Precision Trading Labs (PTL), Ryan Nocera and Mitch Firestone, trade options & wish to start gathering people to talk about them. But everyone has highly varying degrees of expertise and experience with them. Assembling novices and experienced options traders and appealing to both never happens. Those with options background and experience are shortchanged when presenters first try to teach options basics to novices. There's no reason for this. So we're setting up NYC Options Traders purely for those with options experience, and have a new home for options novices.
The aim is to make meet-ups worthwhile for everyone. We want a group where we can dive in and start talking about credit spreads and trade adjustments without worrying that someone doesn't understand what time decay is. But we also want a group welcoming to beginners.
So, if you know the vocabulary, concepts and basics of options, and even better, have a bit of experience trading them, then please respond to the brief questionnaire and you'll be a member of NYC Options Traders.
If you're an options novice, but wish to learn and be in a welcoming venue for that, please sign up at http://www.meetup.com/NYC-Technical-Trader-... between now and December 7. At that time we'll consolidate the member list here at NYC Options Traders to solely those who responded to the questionnaire and indicate that they have sufficient background to benefit from what we present in forthcoming meetups.
NYC Technical Trader Talks is our novice-friendly meet-up covering all asset classes, including options, which were covered in the last two programs. The next one is futures and forex, and we expect that the one following that will be back to options. So if you're an options novice please join us there!
We look forward to seeing you either here, at NYC Options Traders, or at NYC Technical Trader Talks!
1) are you familiar with the particulars of core options concepts -- buying versus selling calls and puts, strike price, expiration date, an option being in-, at-, and out-of-the money and what that means to the price of an option?
2) are you familiar with the particulars of buying and selling calls/puts, and how that is tied to a view of the underlying stock or ETF to which it's tied?
3) know about covered calls?
4) are you familiar with the basic concepts of intrinsic vs extrinsic value, implied volatility and the options greeks, especially delta and theta/time decay?