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Blog Post
Learn the theory. Then see how it works in real trading.
There is no shortage of options trading information online. The challenge is knowing what to learn, what matters, and how to apply it when you actually have a position open.
I've gathered 33 free resources covering options basics, the Greeks, volatility, trade adjustments, strategies, trading psychology and more.
Use them to build your foundation.
Then take the next step: see how these concepts are applied to real trades in real market conditions.
If you're still building your options foundation, start here. These resources cover the basic concepts every options trader should understand before moving into more advanced strategies.
1.1. The basics of the basics. Key concepts of options.
1.2. More basic info on how options work.
1.3. Advice on how to reduce the learning curve or the best way to
learn options trading
1.4. Another good resource on basic options concepts
1.5. Top 10 mistakes beginners do when trading options
Once you understand the basics, these resources can help you expand your knowledge of options strategies and continue building your foundation.
2.1. Learn all basic strategies from this website. The best free courses on options trading!
2.2. Best books on options trading
Reading about options is an important first step. But understanding a strategy on paper and managing a real position are two different skills. Markets don't follow textbook examples. Once a trade is open, you have to make decisions:
Should you adjust?
Has the market changed?
Has volatility changed?
Is your original thesis still valid?
When should you close the trade?
That's why I believe the best way to learn options trading is to combine theory with practice.
You learn the concepts. You observe them being used. You ask questions.
And, over time, you develop the confidence to make your own decisions.
My 15-day free trial gives you access to the Trading Room, my full trade history and my published trades, including the reasoning behind entries, adjustments and exits.
These concepts become essential once you move beyond the basics. They're what determine how a position actually behaves once it's open.
3.4. The Gamma explained - probably the most difficult
Greek to understand...
3.5. Implied Volatility explained
3.6. IV Rank concept and how to use it
3.7. The complete guide on options pricing
3.8. Understanding options time decay
If you've already developed a basic understanding of options, these resources explore some of the concepts involved in more advanced trading.
4.1. Delta Neutral trading is used by options traders to
reduce directional risk
4.2. Delta hedging is used to reduce exposure to Delta risk
(related to Delta Neutral trading)
4.3. Adjusting trades in a portfolio
4.4. Options trading adjustments and their impact on the
initial position
4.5. Delta Neutral definition
4.6. What no one tells you about Calendar Spreads
4.7. Time decay is not the same across the options chain
4.8. Volatility smile or Skew
4.9. What is an Iron Condor and its adjustments
4.10. How to safely trade Iron condors
4.11. Manage your portfolio Delta using Beta weight
Technical knowledge isn't enough. Your ability to follow a process, manage risk and make decisions when a trade isn't behaving as expected is also part of becoming a better trader.
5.1. Profitable trader mindset
5.2. Increase your options trading consistency using longer-term options
The right tools can make learning and trading easier.
6.1. The Best options calculator and trade manager. And is free!
6.2. Options trading platform comparison
6.3. Best options trading community and options trading courses
You've now got a collection of resources covering many of the concepts an options trader needs to understand.
But don't make the mistake of thinking that more reading automatically makes you a better trader.
The next stage is seeing how those concepts work when money is actually at risk. That's exactly why I created MyOptionsEdge.
I don't publish trades simply to give you another trade idea. I publish my own trades and the rationale behind them so you can study the decisions themselves.
You'll see:
Why a strategy and strikes were selected
How market conditions and volatility influenced the decision
How risk was managed
Why adjustments were made
Why and when the trade was closed
Screenshots of filled prices for transparency
And because the trades come from my own account ( I am risking my own capital!), you can see the complete process rather than a hypothetical example.