Our Expert Responds: How to Get Access to Trade Options
- Last week, we told you about three trading strategies to get “happy rich” in 2020.
- But one reader wrote in to share her frustration with her broker.
- Chad Shoop shares his experience for readers looking to get started with trading options.
First off, thank you for all the responses to last Saturday’s wrap-up, where I told you about three great options trading strategies our experts are using to help readers profit.
For some readers, this might be the first time you’ve been exposed to trading options. Maybe you’re still learning the ropes.
For instance, Mel V. wrote in to voice some frustration with her broker:
I can’t access options at this time, which infuriates me! I am vested with TD Ameritrade and somehow I have to fit in a seven-hour course and send them proof of all other monies I own, which I don’t think is right.
If you have any suggestions, my ears are wide open!!! Thanks a bunch!
Mel, we get it. And you’re not the only one.
That’s why I ran your question by Chartered Market Technician Chad Shoop. Chad has been trading options for years, so I knew you’d be in great hands.
Here’s what he had to say:
Filling out and getting access to options can be frustrating at times, but it shouldn’t be. My first suggestion is always to contact your brokerage.
But in your case, Mel, it sounds like you already did that with TD Ameritrade, and now it wants you to complete a seven-hour course. While that seems like a hassle, it is still worth it.
Just look at the recent 438% gain on Tesla’s stock in just four days my Quick Hit Profits readers experienced. I don’t know about you, but a seven-hour course for triple-digit gains like that is more than worth it to me.
Still, if you just don’t have enough time but are ready to trade options, I suggest checking out a different brokerage. It’s not uncommon for people to use different brokerages for their stock and options trading, just to suit their different needs.
That said, if you check a box saying you have zero experience trading options, there’s a good chance the broker will want you to have some sort of instruction to limit its liability.
If you select a year or less, it may allow you to trade with some limitations, such as excluding margin accounts.
Bottom line, a large brokerage like TD Ameritrade just wants to make sure clients understand the risks and are selecting the right boxes. Check out the table below. You might find some of these brokers easier to access.
Note that we don’t favor or recommend any of the brokerages mentioned. We just want to share a few that our readers commonly use.
Mel, we hope Chad’s advice was helpful! If you have additional questions for our team, just write to email@example.com.
“Quick Hit” Strategy
As you can see, Chad knows his stuff when it comes to options.
You likely saw the headlines about Tesla last week. Everyone was talking about how Tesla’s stock surged 400% over the last six months.
Chad’s Quick Hit Profits team locked in that gain in just four days.
They recommended a bullish play on the stock a few weeks ago.
Four days later, they closed it out for a 438% gain.
Was that one of their biggest gains? Sure. But it doesn’t even rank in their top three.
It just goes to show the power of a proven system.
Chad and his team didn’t recommend the Tesla trade based on a hunch or gut instinct.
They did it because they’ve locked in an average gain of 36% on each Tesla recommendation over the last three years.
And Tesla isn’t the only one.
They’ve found DOZENS of stocks that show a repeatable trading pattern every time a certain profit trigger appears.
And every time it does, their readers have a chance to make gains of up to 36% … 438% … or more.
Today, Chad is offering you an opportunity to get into the next “quick hit” trade so you can have a chance to see gains just like this — gains as high as 438% in as little as four days, like the trade they just closed out.
This could be your first chance at the next 400% winner.
Check Out Our Latest Videos
CMT Chad Shoop’s 28-minute video about Tesla Inc., “Tesla Stock — Bank It or Tank It.”
Alpha Investor Report Editor Charles Mizrahi’s eight-minute video, “2 Advantages of Investing on a Small Budget: Beat Wall Street.”
Managing Editorial Analyst Anthony Planas’ latest eight-minute Marijuana Market Update, “Aurora & Supreme Cannabis Layoffs; iAnthus Quick-Take.”
Stay tuned to your inbox. The market is closed on Monday to observe Presidents Day. But Matt Badiali will still reach out to reveal the unprecedented level he predicts gold will reach this year.
Do you have any guesses on how high he thinks the gold price will go? Send them to firstname.lastname@example.org. If you guess correctly, we’ll give you a shout-out next Saturday!
Senior Managing Editor, Winning Investor Daily