Embracing the Bulls & the Bears | Trading a Smaller Account
[Music] all right everyone welcome to trading a smaller account my name is barbara armstrong i'm a coach with td ameritrade delighted to be kicking off this trading day uh a friday in april with all of you we have a jam-packed class ahead so as i was thinking about today you know what it really came down to was how confident are you that you know what direction the market is going in go ahead and type into the chat if you're confident um because i'm not and you know it we're suffering from whiplash yet again the market opened down yesterday and then rallied into the clothes and and so what do you do when you're not sure what do you do when you're not sure so that's what we're going to talk about today and i think it's a pretty great topic so i hope you agree um i would like to welcome everyone so to krishna and lamar and mansoor and heartman and radio wayne and juanita and the rest of the gang i'm not going to take the time to read through all the names because we have a very boisterous chat here in the morning and i absolutely love it um but yeah we want to really get into the content so um know that if you have any questions you can type them into the chat i will do my very best to answer your questions and so what i'm getting in the chat from my questions was my question on are you confident on the market direction it's like no not at all um i'm not even confident in what i'm having for lunch i love that um yes i'm doing the etf class on monday i'm filling in for connie that class you have to attend attend live um diana's saying i'm confused um not very so so there's a lot of uncertainty about what's going on in the market but if you've got questions feel free to type them into the chat i'll do my best to answer your questions um i will have somebody joining in the chat to answer questions as well and so know that you will be well taken care of if you're one of the majority that watches this in the archives you can type your questions into the comments i look at those at the beginning of every trading day and so i'll get back to you quickly on those um and then the last way to get in touch with us is twitter um you know at b armstrong underscore tda i'm posting con content that i think you'll find helpful and informative sometimes entertaining um it's free and you know what it's you're missing out if you're not participating so know also that this is an intermediate level class um and so we move quickly in this class and my assumption is that you understand the trading strategies that we're talking about so if you do not understand or it's a new strategy for you please type something into the chat and i'll take you know 15 seconds and just give you a quick overview and then we can put a link up in the top right corner to the getting started um introduction to that trading strategy okay also know that in the the comments below once this is archived you'll have a link to not only this entire playlist series but also the getting started with option series because we do occasionally buy stocks in this class but we do also talk a lot about options so if you're newer to options it doesn't mean that you have to go away and say until i'm an expert i can't come back but it could be a wee bit like drinking out of a fire hose so i'm just gonna say that right up front we do have ken rose here in the chat to help today ken brings a wealth of experience with him you'll want to follow him on twitter also he posts some really great stuff at the beginning of the day on things that are moving both bullishly and bearishly um and uh at k rose underscore tda you're going to want to look at that also if you're brand new please feel free to type a greeting into the chat so we do have some people here for the very first time and i'd like to welcome you um it know that everything we do in this class is for education and informational purposes only none of it's to be construed as a recommendation on the part of td ameritrade or myself we do place many trades on the thinkorswim paper money platform i said that just brilliantly didn't i um and know that it looks like smells like feels like real money um there are a few differences one is that a short option will never be assigned early in paper money it can happen in your real account have i seen that happen in live accounts yes i have know that options aren't suitable for all investors there are special risk inherent options trading that may expose investors to potentially rapid and substantial losses if you're new to td ameritrade you have to apply for both option trading privileges also the privilege to trade futures that isn't a given you can do anything you like in your paper money account but when you go over to your live account there are some approvals required know that all investing involves risk including the risk of loss and we use a lot of target orders and we use a lot of stop loss orders know that a stop loss doesn't guarantee that you're necessarily going to get out at exactly that price there can be some slippage okay so what's on our menu for today well we're going to quickly go out and have a look at what the market is opening with today and and that may not mean that our day is going to end that way as we saw yesterday the markets all opened down yesterday and then rallied into the close but we're going to have a quick look at the market then we're going to do some trade management we put a bunch of trades in last week we're going to look at what's happening with those i will also in the top corner i will put a link into last week's class so if you missed it it will be there for your reviewing pleasure i'm just going to make a note of the time on that last week's class okay and i'm going to take a couple of minutes last week we had a survey and dozens and dozens of you responded to that survey and so i want to talk about some of the comments and i want to also thank you from the bottom of my heart each and every one of you that took the time um you know to put a comment in there or to fill it out um we're going to then look at how to demonstrate you know and place some new trades um on our account we started this year with twenty thousand dollars and so let's go over to the platform now so we started with 20 000 and we're now up at 25 or 26 000 in in total value in the account but um most of that is whoops i can manipulate these screens but most of that is sitting in cash and how do i know that well we have this summary as i'm sure you guys all know so we started with whoops my drawing tool doesn't want to work here okay how about we try that so we're currently at 25.6 and we have 21 of our 25 sitting in cash so we have a lot of cash that we could invest or could be trading with and this has been um pretty common for us this year that we've had more money sitting in cash than we've had invested and yet we've had a pretty good return year to date i mean all of the major markets are are down year to date somewhere between 5 and 12 and yet this account is is up and up quite nicely well it's up over 25 percent um and so now could it have been down absolutely you know but the last two and a half years we've we've actually enjoyed quite a bit of success in in this um a particular trading a small account class so let's go and have a quick look at what's going on in the markets so here's our s p 500 we saw that you know this is a one year chart i mean the last year was remarkably bullish and then we got to the beginning of this year and um yeah we kind of fell out of bed so we're still down year to date but the bulls are encouraged by the fact that we've crossed this diagonal resistance line we had a really nice run to the upside it pulled back kissed the 200-day moving average moved up again and right now it's currently straddling that line and you know we're down a little bit on the day and who knows if this 200-day moving average is going to ho hold the jury is still out okay jury is still out on this one but i mean year to date we're down about five percent on the net on the s p 500. now this chart isn't um quite as bullish as the last one is although it looks similar the nasdaq which is our tech heavy index no financials it's it's down more like 11 and how do i know that well if you come to your time frame come to year to date and i'll post this on twitter also because it was i learned this from brent moore's um you know and so if we just i come here and hover over today's candle you'll see that in gray on the side saying we're down 12.43 so you know we're down 12.43 on this index here today and you know 50 of this index or thereabouts is tech so you know that's kind of sobering right so a lot of the big growth stocks and and you know but yet it's been bullish and now you know it appears that this bull run is over it's either an elongated flag um but it's still below this 200-day moving average or you know are we setting up a new range where it's going to come back down to this you know 1300 ish level and the answer is we don't know yet and so you know when i started today and said like how much confidence do you have in market direction you know i expected the answer i got because you know if i'm feeling that way i'm i'm assuming that i'm probably not alone right how about our friend the russell which is our small caps and someone talked in the chat earlier and said like hey could you know we be considering doing iron condors on you know an index like this and and absolutely now we're not going to do one today we did many last year because for most of last year the russell was trading between 2130 and about 23.62
um and and this year you know it seems to keep getting rejected every time it comes back up to 2132 so could we do an iron condor on this yeah we might be able to do that now i am filling in for connie hill in the etf class on monday so feel free to join us on monday and and we'll look at some of these types of of trades on monday because i already have a jam back um schedule of what we want to cover today okay but join us on monday also i teach long options on monday at noon eastern and so uh we will sometimes treat that we do treat that as a companion class to this class so if you're coming to this one you may want to join us for long options as well and it gives me an opportunity to manage some of the trades from this class in that and to add more trades to our class because we only get 45 minutes a week together so let's come and look at the dow you know it too is down year-to-date kind of down a similar amount to the um s p it's actually down the least it's down about three percent and again this diagonal resistance breakout coming back to retest but also below the 200. and going back to the rut it's down more like what the um the nasdaq is you know it's down like 11 ish ten and a half percent year-to-date etf class on monday is at three o'clock uh three o'clock eastern one o'clock mountain and you have that one you have to attend live it is not archived okay so let's go look at the vix why do we look at the vex well it gives us an understanding of you know it's kind of a monitor of fear and uncertainty in the market and you know we still have a lot going on i just saw something saying that quebec in canada is seeing a big resurgence in covid cases again so they've extended to the end of april the wearing of masks which everybody is just so enough already over it but you know another wave might be coming we've got uncertainty with russia and the ukraine we've got inflationary pressures bonds just wrapped up the worst first quarter they've had in decades so there's a lot of uncertainty so are we surprised to see this at 22 um not necessarily okay and when we come and we look at um you know sectors and industries energy leading the way today are we surprised at that well energy has been leading for most of the last six months it looks like this hasn't started to load yet so if we go to a three-month time frame and look at which sectors have been strongest we've got energy you know which we've been talking about for some time and we've been placing a lot of trades in the energy sector a lot of short-term trades um and then utilities healthcare and staples are in positions two three and four which is kind of interesting isn't it over the last 90 days and we've seen in the last month healthcare and consumer discretionary and materials all of a sudden you know kind of coming into the fold so this is interesting information for us to consider if we're wondering where to start which stocks should be looking at in which sectors within them okay okay so you know if we come back to our powerpoint you know current market conditions didn't want to spend a lot of time on it but that's kind of you know a brief overview let's go now and look at a couple of the trades that we placed last week so one was costco and we did a long call vertical on costco and we placed that trade last friday so let's come and look at costco we don't have to go actually a hundred days back but we can see that on april 1st we place this trade um you know we got filled it cost us two dollars and 20 cents and we bought the 580 call and we sold the 585 so the goal here was for um costco to go through both strikes and then we put in an exit and said hey you know the most we can make on this is five dollars if it goes to five dollars less the 220 that we paid to get in but if it gets to the point where it's worth about 450 we'd like to exit well it hit 450 triggered our order and actually we got filled at 465. okay so we ended up ahead by 245 less our transaction fees for that um and you know so this is you know the kind of trade that makes us smile right one would say it was both a successful trade and a profitable trade because we ended up here here was when we got in we ended up out of that yesterday and this is one where we put the trade in we also put the exit in so you know we came out ahead on this one by 235 now it looks like on the fifth we also put in a trade this was in our getting started with options class we were talking about long call verticals and we paid 250 same strikes and and we went with a weekly option expiring may 6. how come we didn't get out of that one well we didn't put in a closing order and remember i said a couple of weeks ago most of the trades where i've lost more than i wanted to lose i got sloppy and and you know and so this was a beginner class and i didn't put an exit in but some might say if your goal is to put an accident every time you place the trade this kind of sloppiness can cost us because if we come out here we're still in this trade and oh interesting so let's come here and customize nope sorry i've had kind of weird gremlins in the system so we're going to come here we are going to group our symbols range our positions by type of order so we can see that this is up to 367 but do you think we might have got out at four dollars or more yesterday let's see what's happening well today costco is pulling back now i mean it we have weeks left to go on this but today it's pulling back and so you know could it just pull back for a day and then take off or could it come all the way back here we don't know so what we're going to do instead of just putting an order in um you know to get out when it hits 450 we're up by 145 on this which is a nice profit for this account like when we we started remember we started the year with a 100 with 20 000 so if i take 145 divided by 20 000.
[Music] you know that's three quarters of one percent of our starting account value and so you know it's not a trivial amount for this account so we're just going to say you know what shame on us for not putting an exit in and we're going to i call it ringing the bell so we're just going to take our profit on this one and how do we do that we're just going to right click on this highlight this trade right click and then create a closing order is how we'd get out of it okay create a closing order confirm and send now qtp is saying i trade the same strikes and you know my order didn't fill sometimes in paper money you can get what they call a paper money fill um and and sometimes it just is there for such a short amount of time that some get filled and some don't um and i'm surprised actually that we put this one at 450 often i would use four dollars um and that it in fact got filled and filled higher but we're going to just put in an in order to exit that one okay we also have a long call vertical on devin and i'm going to come out to the chart so devin must be oh it's up by a whole nine cents today so one of the questions we did a survey and one of the questions that came out was um when do i trade a long call vertical versus a short put vertical and that's a good question a a short put vertical because we've also got a short put vertical on devin and so with a short put vertical devin could go a whole lot of nowhere it could go sideways and as long as it stays above 57 we'll have a profitable short put vertical trade and with a short put vertical we have sold a put and then in order to define our our risk we bought a put below that with this long call vertical we're typically you're going to place a long call vertical trade when you're more confident that the uptrend is strong because the goal with a long call vertical because we bought the call at 60 and then in order to fund part of the purchase of the call we've sold a call above it the goal is it for it to go through both our strikes so if it continues to go a whole lot of nowhere our short put vertical would be profitable and the long call vertical would not or would not so it's a more directional trade now the way we place the trade you can make more money on the long call vertical than the short put vertical in the way we choose to trade it and that with the short put vertical we're trying to be below where we believe it will go and with the long call vertical we can be above that and one of the questions that was asked was could you show us an example where something's already a lot of the way through your long call vertical strikes and the answer to that is yes that's on my my list for today but that's what's happening with these trades it's it's looks like it's continuing to move up albeit a little slowly it didn't move up like costco did um but both of these trades are kind of percolating along so we're just going to leave them b so that was devon then we also have one on knee a long call vertical where we were bullish on knee and our strikes and and i've just put this line at 90 which means our goal here is for devin to go through both of these strikes and you know when we place this trade i'm guessing it was close to the 87.50 it was up around 87 and so we did the 8750 and the 90 and in order for us to get our max gain it would have to go through both of these strikes and so we're just going to let that one percolate as well so that was knee we also did a long call on fasinol and a long call is very directional so this was the first let me just draw this here so we got in this one here it went up yup just like we were expecting and then uh it came down and this was a one atr trade which meant that we were expecting it it to go up on average this goes up by about a dollar 13 or a dollar fifteen a day so we put our target a dollar fifteen above and we put our exit a dollar fifteen below so we got out of this yesterday and it was not a profitable trade now was it a successful trade i would argue that yes it was successful in that we followed our rules on this we followed our rules and we took a loss even though but it was a small loss so did we blow up the account no how did it pan out well let's go have a look i'm going to come to the account statement we're going to come to fastenal so here you know we came in we put in an order we got filled at a dollar ninety and we ended up exiting at a dollar thirty and it was if it goes at or above 61.47 that was our target it didn't hit that and if it goes at or below 58.55 so that was that it hit 58.55 and we got out did we lose the entire amount that was what was at risk no we lost 60 of it so if i come over here and i say well how painful was that well we 60 divided by or we came out with 130 divided by 190 oh 130 divided by 190 i can do this yeah we got out with 68 so we were down 32 percent on that there's a question saying um is there a way to delete lines from the chart once the vertical is closed yeah easy peasy we would just come here like this line here if we wanted to get rid of it we're just going to right click on the line and say remove our drawing uh we don't want that drawing down there anymore either remove drawing and you don't have to keep these either if you wanted to remove all the drawings you can just click right click and then say clear the drawing set and it'll get rid of everything okay yeah so that's how we do that okay so we've covered costco devin knee um the two trades on me and fasinol and there was one other one we did we placed i think five trades last friday um which is vert and this is a financial company we're down just a smidge on this but when we come and look at the chart so we bought a hundred shares of the stock and we sold a call on it we were paid a dollar fifteen for the call we're now up forty bucks on that call but the stock has pulled back a bit so let's come and have a look so we bought here it's still above this resistance line we do have an exit in place if it pulls back so we're just going to let that percolate okay so that's so that's that i need to have a quick drink okay i want to take like just two minutes now to talk about the surveys so one thank you for filling them out two um i just want to talk about a couple of things really quickly one of the the um requests and i've had this before is can we tighten up the opening and i did that and rather than going through everybody's name and i love that you're all here and i love that we're also interactive in the chat but i'm just going to list the first five and then we're going to move on and and that gives us another minute to do another trade right um td ameritrade there was a comment saying i understand that td ameritrade makes more on option trades than they do on stock trades and that's why you do so many option trades that has nothing to do with it um i am teaching the class that i would have liked to attend when i was trying to figure this out and so what i try and pack in as much as i can as many trades as i can because that's how i learned was by listening to i call it stream of consciousness what am i thinking why am i doing things the way i'm doing them and i try and walk you through that thought process and one of the comments other comments was i want to learn the thinking behind what you're doing and i do try and share that with you um each and every week and i'll i'll i'll try and do kind of more of that um but that was another request um somebody said you know i've never done verticals and so it i'd say get over to getting started with options um i think i brought just a sec up here's the getting started with options series um and and we spend four weeks on verticals in this class and the last four weeks you know we have spent on verticals um and so you can go and binge watch these classes and there will be a link underneath um you know with the entire playlist and so i'd say go and watch those and then there are two classes ken rose who's in the chat today teaches a class on uh short verticals 45 minutes every week just on short put verticals and short call verticals there was another class another comment in the chat saying you know the trading journal i i want to learn more about how to do that can does a phenomenal job and he takes the time in that class to enter things in the journal i am not going to do that in this class so if you want to learn more about that please go to ken's class it's at a new time wednesdays 11 o'clock eastern and and i'm a huge fan of tracking what you do i i've talked about that frequently get to ken's class for long verticals there's a class on thursday mornings at 11 o'clock eastern dedicated just to long verticals so in this class like last week we did a long call vertical we did or uh short put verticals we did buy rights like we did three or four different trading strategies so this is why i say this is an intermediate level class because we talk about lots of different strategies in this class okay so if you want to really hone your skills sometimes you got to step back to move forward getting started with options and then the specific classes on those um yeah what is the process of how i pick trades and i i try and go through that thought process as we go either and i'll try and um just be mindful of that as we go somebody said still a little bit like drinking out of a fire hose um you know what i still have attended at things in this industry where i feel like i'm i'm still drinking out of a fire hose so you are not alone my friends um and this is archived it'll be recorded so you can come on back okay so i spent longer on that than i was going to so back to the regular programming but i just want you to know that i am listening and when you put a comment in you know on think or swim or on um on youtube i do look at that also okay so that's that okay so now for some new trades let's see what is happening with xom um um elizabeth i think ken will post the playlist for the um getting started with options if not if you go to the youtube and go to trader talks at td ameritrade look for playlists the getting started is at the very bottom uh getting started with options and you can look at the whole playlist so here we have exxon mobil a lot of the energy stocks have been kind of creating these pennant patterns i posted something on twitter with several of them the other day and so this might be a good candidate for what we call this one atr long call strategy okay and so here we go um if we say okay our target on this so our target on this example one atr uh and how much does this move in an average day well it moves about two dollars and fifty six cents so if we say okay xom the one atr on this is two dollars and fifty six cents um and so if it goes up by 256 it's at 86.97
so our target is going to be 256 plus 86.95 86 nine to five and i am just going to use my calculator here because it's faster and feel free to double check my math please because um being a human being i am prone to make mistakes 89 51 and then our exit if it if it ends up turning around and going the other way we're going to take today's low which is 85 17 and we're going to subtract 256 from that so 8261 8261 is going to be our exit and so when we come out here i guess first question to ourself is hey self um if we come out to may and let's just do 10. um and so somebody's asking do we only do bullish trades no we've done a lot of bearish trades in this account um also and actually the next one we may look at um is bearish so 315 to 325 our our rule of thumb in this class is we don't want to risk more than um 400 on any one trade so technically speaking we could lose this entire amount we're putting an exit in and the hope is that we will not uh the plan is that we won't but it's possible so we come out here we've got a 10-cent bid-ass spread this trades very high volumes we are going to buy a single so we're only going to do one contract because we need to honor that 400 max rule right click opposite order we're going to make it a market order good till canceled and then we're i always put the target in first target 89 51 if it's greater than or equal to or greater than 89 51 we're out and if it's less than or equal to 82 61 we're out that's our exit and then we're going to come down here make sure that's greater than that's less than check check hit save confirm and send we're going to put that in our long call bucket and this is a one atr target so if somebody just said i'm a beginner what allows a bearish trade to profit is if the stock goes down so let's come and look at an example a potential example i you know we started this when the market opened so here's starbucks and starbucks has been on the struggle bus so the old former ceo howard schultz has come back he has um put a hold on a multi-billion dollar stock buyback which the market appears not to have liked nine starbucks stores have chosen to unionize which the market is concerned will drive up employee expenses um and so you know if we look at this and we're a little late to the party but if we did this one atr strategy so here's a you know it this was a bullish example if we did a bearish example and we use starbucks we could say well on an average day starbucks moves about 2.71 cents so if our target is today's low is 81.96 so our target is 8196 minus that 271 which is the one atr and again please feel free to do the math and correct me if i'm wrong 8196 271 so 79 25 would be our target and if i and you know that is still above this previous low 79 25 is our target and our exit would be if it goes above this by 2 271 so here's our high is 83 19. so we're just flipping this 83 19 plus 271 and so for those of you who are new okay 85 so if it gets up to 85 90 it's not going in the right direction and we'd say you know what we're going to accept and just um wait you know to maybe it doesn't mean that we'd never do this trade on starbucks again but you know wait for another entry and so how would this be profitable well here's our target 79.25 i'm going
to edit this i'm going to say this is our target and it's a 1 atr target i'm going to have that show on the right and our price for that is 79.25 and so it's just when we're not sure of what direction the market is going um our strategy in this class has been to go for a little win little win it's not that we wouldn't want to do trend trades in a smaller account it's just when we're not sure of the trend it's hard to do a trend trade so we're just saying if we see things moving this way right now get in lose up a little get out or with starbucks get in moves down a little get out you know and somebody's asking about the time of day i really don't pay attention to that maybe i should but i don't um others might say oh you're better to trade first thing in the morning or just before the market closes um so this last time we bought a call now we're going to buy a put where is it trading well it's trading kind of right in between so we can do either the 85 or the 90. we're going out to may even though our expectation is we might only be in this trade for one or two days but we we want the damage from time decay to be less and so here we are 80 we're gonna do the 80 buy single single order first trigger sequence right click opposite order make it a market good till cancelled hit the sprocket again if my routine is i always put the target first now this one is a less than or equal to 79.25 because we're buying a put 79.25 if it goes above if it rallies instead of continuing to fall as we are anticipating it might 85.90 now what's our risk here is that it's already fallen and it might rally for a couple of days okay confirm and send if it's at or below yep add or above yep one contract yeah how much can we lose 284 is that within our rules yes it is uh we wanted a long put it's in our long put bucket and we've got a one atr target so somebody's saying you know if we're not sure of direction should we do something you know more of a spread um you know which is interesting because that was going to be my next example trade and so thank you for kind of cueing us up on that one so let's come over and look at eog so we have done x starbucks and xom eog oh and it moves up so nicely today wouldn't you know it so we can see eog i mean you know this is another energy stock um it's now trading over a hundred dollars a share um and i was last night we looked at i looked at could we do a short put vertical around this 115 well we might have to look at kind of 117 118 but could we do that we could so if we come here and with a short put vertical you may want to look at a weekly now do we have can we look at a weekly on this well the bid has spread is 70 cents that's really high and we don't have a lot of volume on these when we come out here we've got a lot more volume and a much tighter bid ask spread but we're going out a really long way and so it will take a much longer time for time decay to kind of work in our favor to be in this for 40 days and chances are we would be in this for a couple of weeks um and do we really want to go all the way up to 120 you know where's 120 on our chart it's kind of like at the this diagonal resistance line so maybe we want to consider a one atr you know and on average this moves you know and so even though we did have an intention of doing that yeah and i think with eog um we ended up out on that one well we'll discuss it on monday but could we come out here and this is 600 to 680 and so the bid ask spread it might be okay but when we look at this and we say man we don't want to risk more than 400 then we might have to say well how about if we did a long call vertical and could we do one at maybe 120 it's already halfway in between 120 and we're going to look at buying a vertical we did the 120 125 how high does it have to go well it could go down almost a dollar and we that's our break even and we'd still be okay because it's already halfway through it's at 123.64.
so we're risking 265 to make 235 so we'll go okay that that looks interesting to us so what we're going to do is we're going to put in an exit like we did on costco and we're going to create an opposite order and we might even say hey if this gets to the point where it's worth 405 we've made 405 minus 255 we've made 150 which is a pretty great return divided by 260. that's a 57 return the most we can make is five so we're going to come in and say hey if this gets to the point where it's worth four bucks or you might say 410 i'd be happy with that and this is your business you can make that number what whatever you want in your paper money account okay so we're gonna hit confirm and send and we're putting this in our long call vertical bucket we're gonna send that in and i'll i'll make sure that that fills things can be moving around what are some other ones that you may want to look at well pfe pfizer so we saw this nice pattern broke out yesterday it could come back and retest but you could put in a conditional order and we'll look at this one again you know maybe on monday the acre is actually you know in our snack bracket and this is above so i'm going to go in and put a buy right on this where we're gonna buy a hundred shares of the stock and we're going to sell a covered call we're coming up on earnings on this so we don't you know know you know how earnings will react but the energy sector has been strong um and guys we are out of time our 45 minutes it has come it has gone we have smashed about as much as we can into a class as we can we've covered the current market conditions um as i promised we would we managed the trades we put in last week we looked at those we talked a bit about the survey results and again thank you for taking that seriously and taking the time to fill it out there is another survey link in the chat today so if you will take the time ken just reposted it thank you to ken he always has a superlative job if you'll take the time to fill that out let us know what you loved what you'd like to see more of or less of i do read each and every one of those comments i thank you for that um smash that like button it lets other people know that you enjoyed this if in fact you found this helpful and if you're new to this link arms with us subscribe to the channel and you can turn on your notifications and then you'll get a reminder so you'll make sure that you don't miss this class which is every friday um and then we're going to demonstrate you know we did place several example trades we walked through our thought process on that or at least we gave it a good shot um yeah so that's that so keep in mind this intermediate level class everything that we do in our trades is to be considered a um an example and none of it is to be looked at as a recommendation know that options aren't suitable for everyone there are special risks inherent to options trading we do use actual symbols in order to demonstrate the functionality of the platform and and bring these concepts of trading um stocks and options to life um there are some differences with the paper money platform the biggie is um that short options will never be assigned early so and know that all investing involves risk including the risk of loss well that's a wrap for today um up next is connie hills getting started with stock investing i hope you'll choose to join connie for that huge kudos to each and every one of you i know some of you get up obscenely early on the west coast to join us and to everyone who's taken time out of their day thank you you bring this class to life have an awesome weekend everyone we'll look forward to seeing you soon bye for now