Options Trading Tutorial

Options trading in the US?

I'd like to start trading in the Options market but I have a long way to study before I start. I have several books written by various authors and the optionetics videos and books from ebay. I would appreciate some advice please. I live in Australia and 1 options contract is for 1000 shares which of course is significantly greater than the 100 share contracts in the US. I would like to trade on the US options market (eventually - after much research) but where do I go to begin? Thanks in advance. Sorry, I don't mean what books and programs should I get but where I should actually go to trade and look at the movements? Eg in Australia it's the ASX or Australian Stock Exchange so the US might be the CBOE??

Public Comments

1. I answered your prior question, you don't need to spend a few thousand dollars on material as I've said, after everything I learned more from actually doing..., start very small, one trade maybe $200 to $300 dollars a simple naked call trade use stop loss maybe 50% to 25%
2. Just my IMO but optionetics seminars border on fraud and definetly not worth 1 cent. You'll learn more by doing then reading books but as stated above - start very very small. Finding a group of investors that meets locally is a great way to learn about options. Elitetrader.com has some very good forums on options and also a forum on meeting people locally.
3. Options trades need to be done through a brokerage, so you need a broker that allows trades in US options markets. I'm afraid I have no experience in international trading so the only thing I can suggest is that you focus on larger brokerages in your search. Although the CBOE is the largest U.S. options exchange, and is a good source of information, you will find many options are traded on multiple exchanges so to get the best price you do not want to limit yourself to a single exchange.