Options education & toolkit
U.S. stock options, learned as a system
Plain-language courses that take you from your first Call contract to your first trade.
Systematic courses
A guided path from beginner to advanced — the 16-episode starter course is live now.
Practical tools
Start with the path diagrams already drawn in the lessons, and see the P/L clearly.
Plain language
Even the hairiest strategy, broken down in words anyone can follow.
The starter course
Sixteen episodes to your first trade
Four modules, each building on the last. Follow them in order — every episode assumes the one before it.
Iron condors and butterflies sit in the last lesson as an optional extra. You do not need them for the starter path.
Module 1
Foundations: How Options Actually Work
Build real intuition with everyday contract analogies: Calls, Puts, the option chain, pricing structure and the full settlement lifecycle.
What is an option? Calls and Puts through a house-deposit contract
Drop the gambling stereotype. Use a deposit and an insurance policy to see the premium and contract logic behind Calls and Puts.
How to read an option chain: take the numbers apart one by one
Read the chain’s layout and quotes, tell ITM from ATM from OTM, and pick contracts by liquidity.
How is an option priced? Intrinsic vs. extrinsic value and time decay
See that premium = intrinsic + extrinsic, understand time decay, and avoid being right on direction and still losing money
Settlement, exercise, and assignment — the full flow
See what happens at expiry — expire worthless, exercise, or assignment — and avoid an in-the-money option quietly turning into a stock position
Module 2
The Pricing Code: The Greeks, Illustrated
Delta, Theta, Vega and Gamma, one at a time — ending in a four-dimensional risk checklist you run before every trade.
Delta: not just a price coefficient — also a rough win rate
See Delta’s two jobs: how sensitive the option is to the stock, and the rough chance it finishes in the money
Theta: is time a friend or an enemy?
See how Theta puts a number on time decay, and why the buyer pays rent while the seller collects it
Vega and implied volatility: the hidden hand behind big wins and big losses
See IV and Vega, and avoid IV crush after earnings — being right on direction and still losing
Gamma and how the Greeks work together
See Gamma as Delta’s acceleration, and stay away from high-Gamma risk near expiry — especially 0DTE
Module 3
High-Probability Strategies for Beginners
First pick expiry and strike, then Covered Calls, Cash-Secured Puts, the Wheel, and verticals that cap directional risk.
How to pick expiry and strike
Use time to expiry and Delta to pick the contract; beginners can start at 30–45 days and 0.30–0.50 Delta
Covered Call: collect monthly rent on shares you already own
See the structure of a covered call, the three typical outcomes, and who it fits — and who it does not
Cash-Secured Put: sell a Put to buy the stock cheaper
See the structure of a cash-secured Put, the three typical outcomes, and how it sits next to a Covered Call
The Wheel: string Covered Call and CSP into one loop
See the two phases of the wheel, and only roll it on a stock you are willing to hold for a long time
Vertical spreads: take a directional view with defined risk
See bull and bear vertical spreads, and how debit and credit spreads cap the risk
Module 4
Size, Mistakes and an Optional Extra
Position size, the mistakes that wipe accounts, and an optional extra on iron condors and butterflies.
Position size and risk control
Cap single-trade risk at 1%–2% of total capital, and use three layers of defense to survive the next mistake
Common mistakes and a path to the next stage
Skip five common mistakes, and string the basics, the Greeks, the structures, and discipline into a four-stage path
Iron condors and iron butterflies: a first look at neutral structures
See how an iron condor and an iron butterfly are built, when to use them, and why neutral is not the same as risk-free
Figures already in the course
Start with the two paths already drawn
Screeners and trackers are still being built. For now, use the figures in lessons 1 and 3 to see the two paths clearly.
The two Call paths
Lesson 1 house contract: buy if it goes to 1.3M, walk if it falls to 800k.
The two slices of price
Lesson 3 splits premium into intrinsic value and time value.
1 contract = 100 shares
From lesson 2 on, the top of every page turns the quote into cash in the account.