Options?

[Deleted]

Does anyone here use options?

I have never used options. I do not know much about them.

How do you use them?

[yogibearbull]

All beginners to options should hear this joke.

Options are "conservative" because most of the time, you can only lose ALL of your money. Futures are more risky because you can lose more than the amount invested.

But seriously, options may have a place if one knows what one is doing. Start with call-writing. One needs account approval for options and there are various levels of approvals.

[Capital]

In certain conditions I sell covered calls.

[rumi]

I’ve never bought or sold an option, but I’m interested in selling Cash Secured Puts. The reason is that I’m currently holding a lot of cash. It might be nice to make some yield on it. I’d sell puts that are highly likely to expire worthless.

The issue is that there are hundreds of options to choose from, and I’m not sure which option to select to sell CSPs on. I read a book on Option Greeks last year but what I really need is a webapp that algorithmically recommends option-plays that pay high premiums. Like a daily list that’s automatically generated. Then I could choose from that list and see if I can make money. Does such a website exist?

[anitya]

In a non-margin account at TD and Schwab, cash secured puts likely will not allow secured cash to be invest in a MM fund which will soon earn 4%.