#1 Options Trading Education

Volatility and The VIX with Eric Hale

Video Transcription

Greg: Good morning everyone. Welcome to OptionsANIMAL. This is Greg Jensen glad to be with you today. I’m excited you took some time out of your day today
to come and learn a little bit about volatility. I do a lot of these different webinars from time-to-time with different experts in the market from TV
celebrities to Chicago Board of Options Exchange, different brokerage firms, and what not. I’m as excited today about any of them because I’m going to
introduce to you someone who is as knowledgeable about volatility and the VIX as almost anyone I’ve ever met in the industry.

The other thing I really like about Eric is the guy actually trades. He’s a really good trader. Eric, glad to have you here today. What I would suggest to
those of you who are here, we’re going to try to cover the concept of volatility, ask questions if you’d like to in the question bar. We’ll try to get to
as many of those as we can. We’ll try to make this as information packed of an hour as we possibly can. Without further ado, Eric, I’ll turn the time over
to you and thanks for coming.

Eric: Hey, Greg. Thanks I really appreciate the opportunity to be here to share this. You know as well as I do this is an area that I’m very passionate
about. I’m passionate about trading. I’m passionate about educating people and helping people. Understanding volatility is something that I think I do have
a very good understanding of. One of my skills is my ability to help people and help others. We’ve helped thousands of people learn and become successful

Today I’m going to talk about volatility. Within an hour I’m going to do my best to stay on time so we’re going to move at a pretty good pace, so please
pay attention and we’ll make sure those who that have questions we’ll get ways to get your questions answered if we don’t get to them live. This is going
to be pretty fast paced. We’re going to cover a lot of content and I’m going to go through it at a pretty brisk pace.

Before we start let me remind everybody of our disclaimer that all rights are reserved and copyrighted to OptionsANIMAL. The content of this presentation
should not be considered a recommendation of to buy yourself security. All information is intended for educational purposes only and in no way should be
considered investment advice. Options involve risk and are not suitable for all investors. All rights and obligations of options should be fully understood
by individual investors before entering a trade.

As we like to say to our students, make sure you always define your primary and secondary exists with every trade. It’s the secret to being successful in
trading. Let’s go over our agenda. We promised to talk about volatility and the VIX. I will say that our marketing people get a little creative and we’re
going take an hour and teach you everything that you need to.

I’m a realist. We can teach you a lot and I guarantee you that everybody listening to this is going to come a way with more knowledge. You’re going to
learn something. Everybody listening is going to learn a little something that you didn’t know. Some of you will learn a lot. I don’t think I can teach you
everything about The VIX. If I had a week, I probably could teach you everything about the VIX and volatility. I could teach you a lot but we’re going to
cover a lot.

The agenda we’re going to talk about what affects option pricing because options is really what this is all about. We’re going to talk about the two
different flavors of volatility. We’ve got historic volatility and implied volatility. In order to be able to understand implied volatility you need to
understand historic, so I’ll make a clear distinction between the two and you’ll come away with a good understanding of those.

Then we’re going to introduce the VIX and of course we’ll wrap up with an overview of who we are and how we help our students become more successful. What
affects option pricing? You buy a stock and what affects stock price? Only one thing affects the stock price, that’s the stock price. It seems redundant
but it’s true. When you trade the options, there are multiple things that affect the price of options and in order to trade options you have to understand
what makes the price change. What are those?

You’ve got the option pricing. The two most obvious things are the strike and the stock price. You buy a car or you buy a put. It has a timeframe, that has
a strike price and that’s where we exercise the contract. That’s where you have the right in the case of buying and an obligation in terms of selling
options at the strike price. Now, obviously the stock price is going to impact that option whether it goes up or down. Once you buy the options the strike
sets of the stock price, that’s the most obvious if people understand that coming into us.

The next one is time to expire. That’s usually the next one that people get a handle on and options folks, you can think of options as insurance. If I buy
insurance for a month or I buy insurance for a year, obviously the price is going to be different. That’s exactly the same analogy with option. If you get
an option that expires in a week, it’s going to cost less than an option that expires in a year. Time has an impact on the option value.

The third one and the one that people come to understand what I really want to focus today on is implied volatility. Implied volatility in a nutshell just
represents risk. The risk of movement actually it’s what it is. It’s not bullish, it’s not bearish. It’s just associated with the risk of that stock

Interest rate and dividends, now we don’t see those two change very much of course with the fed having its policy for the past four years of keeping the
rates down. The risk free interest rate doesn’t really change dividends. It does affect option prices around the ex-dividend date. We’re really not going
to focus on those.

The three big ones here are the stock price, time to expire and implied volatility. If you can trade at options you have to understand all three. Let’s
look at option pricing. Option pricing can really be broken into two components. The two components are one; the intrinsic value, and that is the amount by
which an option is in the money. The second component of option pricing is extrinsic value. The extrinsic value is everything above and beyond the

If we were to calculate the price of an option, we know what the price is we can go look at an option change, we know what the price is. If you want to
figure out what the intrinsic value is, we would subtract the stock price where it’s trading now and the option strike. It’s either you subtract the strike
from the price or price from the strike depending if we’re talking puts or calls. It’s just how far it’s in the money. The option price is the combination
of those two things, the intrinsic value and extrinsic value. How do we … calculating intrinsic value is easy. How do we calculate the extrinsic value?

The extrinsic value is equal to the option price minus the intrinsic value. That’s how we come about and get to the extrinsic value. Now, let’s look at
what impacts intrinsic value. I’ve said here the intrinsic value is equal to how far in the money the option is. When you look at an option chain, you’ll
see a section that is grayed out usually depending on your broker. The grade out section are in the money.

Strikes that are lower on the call side are in the money, puts higher strikes are in the money. The only thing that tells you what the intrinsic value is
by looking at the difference between the two. Those are the only two things that impact the intrinsic value of an option. It doesn’t matter if the option
expires today or in three years from now. Time doesn’t matter. Volatility doesn’t matter. The only thing that matters is how far in the money it is. It’s
just strike and stock price. In the money options the intrinsic value is the difference between the strike and the stock price. It’s pretty simple.

Out of the money options have no intrinsic value. Another way to think about this if you get confused is think about what would my option be worth today if
it expired, if it was expiring today. If it’s out of the money it’s going to be worthless. If it’s in the money you can think about what’s the minimum that
this money would be worth and that’s how you come up with the intrinsic price.

I like to use a lot of analogies as you know when I teach. Some of my students will tell you. Some like my analogies, here’s one I think that helps and I
can relate to and hopefully maybe some of you can relate to.

It’s a cold day today in Chicago but it’s never too late to have a beer or too early to have a beer, no. I like to look at the two components if you
imagine this beer as being the option price, and the two components are the liquid portion which should be the intrinsic and the foam which should be the
extrinsic value. The foam represents everything that’s above and beyond. If you poured a beer off a drought, around of a can you’ll know that the head’s
going to be bigger at then end and as you wait it gets closer and closer the expiration if you will. That foam goes down.

Now, I could things like I could toast somebody. I could put a straw in and it blow bubbles and that foam goes up and down, maybe I put some salt in it the
foam goes. Your option pricing can change, that extrinsic pricing can change, but the intrinsic thing that only happens with that is when I actually drink
the liquid that make it go up and down.

This helps with some people to imagine the Extrinsic value as the frothy portion of the option pricing. Seven degrees in Florida. It’s snowing like a
[Venchi 00:10:09] right here in Chicago. We’re getting an inch, 1½ inches. My backyard looks like a winter wonderland right now.

Here’s an example, let’s look at option pricing. This slide is a little bit old. I hear some people say a lost audio can … Other people tell me they hear
me okay. I see some people in chats saying they lost audio. I see my microphone moving so a bunch of yeses, okay, good. This is an options chain. Research
in motion at $61 that would be nice if it was back, nice or bad doesn’t matter. It was taken a while ago.

The concept’s still the same. It doesn’t matter what equity this is. Let’s look at the puts. Let’s look at the price of the puts. Here is the ask price and
you can see the numbers there, you see these are out of the money. Remember I showed you the shaded portion. Here is where the shading is. This is $61.09.
All the put strikes that are higher than $61.09 are in the money. All of these shaded ones are in the money puts. Here’s the price. All of these are out of
the money.

What’s interesting is 100% of the price for out of the money options is extrinsic. Options that are out of the money have no intrinsic value. Some people
are, “Why are you harping on this intrinsic, extrinsic thing?” I want you to be able to get a feel for how those two components move. That’s what I’m going
to do. I’m going to help you understand how those two components … If you can understand those two components and how they change; you’ll have a better
understanding of option, option pricing and what affects option pricing.

Let’s take that data and plot it. I was messing around and this is exactly what I did. I took that data and I put it in Excel. That’s cool. I see a curve.
That doesn’t really tell me much. What am I really looking at? Let’s break this down and look at the extrinsic and intrinsic pricings. The extrinsic and
the intrinsic. The black portion that you see here is the intrinsic price. The green portion that you see is the extrinsic. Looking at this curve, what do
you see? One of the things that was interesting to me is that that’s a straight line.

You’ve got a curve with a pricing here but I got a straight line on the intrinsic portion which makes sense. The only thing that impacts the intrinsic
portion is how far it’s in the money. Right exactly where it intersects this line is zero would be equal to the price. You remember where this thing is
trading? $61.09. This would be exactly $61.09. If I had a strike at $61.09 it would be exactly where the intrinsic value is zero. That would be at the
money strike. Intrinsic is pretty easy to understand.

The only thing that impacts it, once you’re on the option is whether it’s in the money or out of the money and that’s the only thing that impacts, is the
stock price. Let’s get rid of the intrinsic and let’s just look at the extrinsic pricing. If I plot the extrinsic pricing here, what do I see? I see a
shape that maybe a lot of people recognize. That kind of looks like the infamous bell curve. Folks, this is real data. This is not philosophy. This is not
theory. This is real option pricing. This is nature. This is what the market sets out there. This isn’t some textbook or something. This is real data.

What you notice is that the peak is at the money. That’s where it’s trading. That’s where the maximum extrinsic value is. That’s a key takeaway right
there. The maximum extrinsic value will be at the money. Occasionally, with some bizarre options you see some weird things happen on different options but
normally this is the case. Sometimes there’s low liquidity and some strains. Don’t worry about that. Most of the time this is the case and the vast
majority of everything you deal with, the extrinsic value is going to be greatest at the money.

This is statistics, yes it is. What we can we think about with regards to extrinsic value and what I’m going to tell you right now is one of those key
takeaways. Stop looking at CNBC right now, stop reading your email and focus on me for a second. This is a key takeaway right now. The extrinsic value
reflects the probability that an option will expire at the money. Don’t worry about the absolute value. Is it five? Is it one? Is it two? Is it 0.5? Don’t
worry about the number. Just realize that the extrinsic value is a reflection of the probability that a specific option will expire at the money.

If I had to hold a gun to your head right now and said, in a month what strike is going to be at the money? The stock’s trading at $61.09. If you had to
make a bet on the last box of Twinkies in the world. That’s what I’m holding hostage here. I’m going to take it from you if don’t get the answer right.
What’s the best guess of where the option’s going to be? It’s where the extrinsic value is the greatest. It’s the $60 strike. That is why it has the
highest extrinsic value, because it has the greatest probability of expiring at the money.

Look out here at this $80 or the $75. What are the chances that the stock is going to get to $80, so $80 becomes at the money strike? Not very good. It’s
really small. Can it get out to $80? Yeah, something can happen. Could REM] move? Maybe with REM we should be down here on this end. Could it move $20?
Yeah, absolutely. The stock could move $20. Probably not going to happen but what if, let’s say this is a 30-day option. What if I made this a one year

If I’m looking at this chart now, I’m looking at it saying, “In the next 30 days, what are the chances that the stock is going to get … What are the
chances that the equity is going to move to $80 in 30 days? Pretty small. What if I now looked at an option that expired in a year? You’ve got a greater
chance of the equity moving to $80 in a year than you do of the equity moving to $80 in 30 days. That increases the probability that $80 could be at the
money and therefore the extrinsic value would increase.

Here’s an extra credit one for you folks. What if earnings was coming up? Right now let’s say earnings isn’t coming up. What if all of a sudden [Tharst
& Hynes 00:18:04] comes out and says, “We’ve got a major new product announcement.” What do you think is going to happen to the option pricing?

The stock may not move. The stock probably won’t move. What would happen if there’s a major announcement? Let’s just say [Tharst & Hynes] says, “We’re
going to have a major press conference. We’re going to release some really big news.” It could be a product announcement, it could be an acquisition, it
could be they found out Blackberry is giving you cancer or something like that.

What’s going to happen if there’s some big announcement? You’re going to see the option pricing increase because there’s a catalyst. What I want you to
take away is this understanding that the extrinsic value is a reflection of the probability that that specific option will be at the money. We talked about
time. We talked a little bit. We just talked about there with the earnings or some big announcement coming up. That’s actually implied volatility. I’m
going to go into that a little bit more. I’ll come back to it. What’s another thing that could increase the probability of the $80 being at the money?

This one’s obvious and it’s almost too obvious, you’re going to be mad at me. What if the stock moved to $80? My whole curve here would shift. $80 would
now become the at the money strike and the extrinsic value, the extra value would increase on that $80 strike. It would have the greatest extrinsic value
if the stock price were to move to $80.

Here’s an extra credit for you; did I make money or lose money if that happened? Remember we’re talking about puts here. You would actually lose money
because on this slide I’m not showing the … maybe I should just back a little bit.

If the stock moved 80 remember that would be at the money so the intrinsic value would come down to here, the extrinsic value would go up. If the stock
moved to 80 I would lose money on this put which right now is costing maybe $19. If my extrinsic value would probably go up to $3 or $3.50, but my
intrinsic value would go to zero. I would end up losing money. I lose like $15 on that trade but my extrinsic gets bigger. If the stock went down that
would be other effect.

Anyways, I just wanted to go over and hopefully help you guys really get a feel for intrinsic and extrinsic. I’m going to start talking more about, so the
question is at the money. Somebody asked the question what’s at the money. At the money is the strike that is closest to where the stock is trading now.
Whatever strike is closest to where the stock is trading now is considered to be at the money strike. In order to understand implied volatility which I
introduced a little bit here, you really have to understand first historic volatility.

Let’s talk a little bit about historic volatility. I’m going to come back to the intrinsic, extrinsic stuff. I want to let that soak in a little bit, let
you guys mole on that. Let’s talk about historic volatility. Here’s three equities that are all trading with an average price over the past 30 days in 100.
The average price on all of this is 100. I know that because I put into Excel myself and I made them equal 100. You can tell these are completely different
equities. They have different behaviors and volatility I like to say is like pornography.

You know it when you see it. Which one of these is more volatile? You all probably can guess. Everybody is going to say C or C is the most volatile one.
Which one’s the least volatile? B, bravo would be the least volatile.

How do we measure? You can’t just swag it, you got to have some way, some objective way. The way that we do that is there’s a number of different ways to
measure historic volatility, but one of the more common ways is to use a standard deviation. It’s a term from statistics and it measures how far it goes
from the mean. That’s what this is.

Those of you that took statistics may want to know that this is … we actually use algorithm over the next 30 days. You don’t need to worry about that
unless you want to do the calculation yourself and you want irk out on the math, which we can do but I don’t want to sidetrack us on that. I’m just saying
that to be complete. We look at the standard deviation over the past 30 days is what’s typically done. We can look at two weeks. We can look at 300 days;
30 days trading days is what tends to be done.

If we were to put those in numbers, we can get an objective number and it gives us for each on these, so you can see that C, Charlie here has a 56.9%
standard deviation. Then B is the lowest at 7.3%. Let’s look at this in a different way. Let’s look at a stock over a period of time. Now we’re going to
look at A particular stock over 90 days.

Those of you that remember patterns might notice that there is three distinct phases on here. I’m going back a slide so these numbers might come back
again. The way that historic volatility works is we don’t actually get a number until we’ve had 30 trading days go by.

We’re doing this calculation for this box of time here. Then we roll forward day by day to another period and you can see 30 days later during this period,
you can see the volatility has dropped down to a relatively low period and now we’re about to enter into a higher volatility phase and we get into that.
That’s how historic volatility is calculated. Let’s look at some real numbers. Price versus historic volatility, you can look in here. The black dots are
the SPY. You can look in this period and you could say, “Yeah, that’s volatile.”

It looks like it’s not very volatile in this period and then it gets a little more volatile. You could see the volatility; the purple line is the
volatility. You can see it going up and down. An interesting thing that happened here is this is drop.

By the way, I just did this on Sunday; this data came on Sunday. It’s got all but the past few days trading in it. You notice a couple of big changes. Does
anybody know what time that correlates to? That was the fiscal cliff. As of the first of January, first trading day of January we had a couple of big days
up. Those were volatile days. High historic volatility.

Not a bad kind of volatility here because it went up. If you’re bullish it was good for you, right? What happened is, remember this box that calculated 30
trading days. These two points that you see being added a lot of volatility into this thing and then 30 days later those come out of the calculation. You
see this drop down in implied volatility that happened because these two days were no longer in the calculation. Let me show that a little bit more

Here’s a favorite one, Netflix I like to talk about. Looking here, look at this big gap. The stock went from somewhere in the 80’s down to about $60, a
huge loss overnight. We saw a big jump up in historic volatility. Then we see a dropdown and then another drop down. Look at this period in here. Was there
anything noteworthy on the volatility in this period here? We use my laser pointer, was there anything particularly noteworthy about the volatility here?

Why did the historic volatility go from 80% down to 40%? The historic volatility went in half overnight. Why? This gap is no longer in the calculation.
This is one when I listen to people who are so called volatility experts do a comparison of saying that, “I like to compare the historic volatility.”

That’s my voice for people who don’t know what they’re talking about sometimes. “I like to do my comparison of the implied volatility to the historic
volatility.” Yeah, well what did this tell me when the historic volatility? Historic volatility was 80 now it’s down to 40, so what? Who cares? It doesn’t
mean anything. It means something happened 30 trading days ago. It means nothing about what’s going on.

Certainly an increase in historic volatility means something. This is Germaine. This is today yes, I saw a big jump up. The jump up means something but the
jump down doesn’t mean anything other than the calculation, that gap. This gap here is no longer there, who cares. You got to be aware and understand
people will talk about I’m comparing historic to implied. It might be okay to do that as long as you understand what you’re doing. I’m amazed at how little
some people … Lets just leave it at that.

Here’s Netflix. I gave you a little bit of an insight into historic volatility. Let’s change gears and go to implied volatility. Implied volatility has the
word implied into it. Implied volatility is the volatility that’s implied to happen over the life of the option.

It represents the risk of future movement. It’s not bullish or bearish. It just measures what’s the potential for a move in the future. It’s just a measure
of risk. I used an analogy of beer earlier. Let’s use an insurance analogy I like to use. Homeowner’s insurance.

Let’s pretend that you’re an insurance company, right? Somebody comes to you and says, “Listen.” Two homeowners come to you and say, “Listen, we need to
buy insurance. My house is worth $500,000 so I want a contract.” In this case you’d be selling them a put. That’s what a put is. It’s home owners insurance
on your stock. If your stock catches on fire you have insurance. That’s what a put is. Which gets me, when people tell me, “Trading options is risky.” “Is
owning homeowner’s insurance risky? I think that’s actually the opposite of risky. That’s the safest thing to do.”

Actually trading options, if you don’t know what you’re doing can be pretty risky, but if you appropriately use options, you are doing something that’s
less risky. Buying a put contract to protect your home is a good idea.

Let’s say that you’re the insurance company and each person comes to you, each home owner says, “I need a one month and I want my deductible to be $500.”
“Where are the houses?” “One’s in Cleveland and one’s in Miami. How much do you charge?” Can you answer the question? No, you probably need some more
information. You send your assessor out and your assessor sends back these two pictures.

Here’s the picture in Cleveland, that’s a nice house for $500,000, but again this Cleveland. Nothing against Cleveland, I like Cleveland. Let’s not talk
about Lebron James though. 123 Happy Avenue, Cleveland Ohio. Here’s 666 Stormy Way in Miami Beach. Both houses $500.

By the way this is going on. Who pays the higher premium? It’s not rocket science. Maybe coming up with a number might be rocket science or actuarial
science. Intuitively you know who should pay more money. The relationship here that I’m talking about is when there’s a storm on the horizon, no damage has
occurred. I’m just looking at the weather.

Literally, if you were the insurance company and you knew this was happening, they called and said I need a month of insurance or I need a week of
insurance. You’re going to charge them a lot of money for that week, right? Because you know there’s a potential that some damage could happened.

That’s what implied volatility is. It looks at the future. It looks at the weather forecast and says, “What can happen between now and the expiration of
that option? When implied volatility increases, options increase. By the way calls increase as well as puts. Implied volatility increasing is a significant
thing for you.

This is the closest thing that option traders have to a crystal ball. It is a tremendous edge that you as an option trader have over an equity trader.
Equity traders do not understand. It’s not that difficult. I just explained it to you. I bet half of you didn’t understand what I just … Before I said it
you didn’t understand. Now you’ve learnt something.

Getting in tune to understanding implied volatility is a big deal. That’s actually one of the things we do here at OptionsANIMAL; teach you how to manage
that, protect yourself and actually take advantage and make money from those changes. Prices of options increase, calls increase as well as puts.

Two reasons, one is that implied volatility is not bullish or bearish. It just says the stock can move. It could go up or it can go down, I don’t know. Go
back to that chart that I showed you on Netflix and you’ll see that there were to big spikes in there.

One was a bullish spike, one was a bearish spike. Implied volatility doesn’t know which way its stock is going to go. It just knows that it’s going to go.
The other reason why both calls and puts is because of the synthetic nature.

What that simply means in English is that I can be bullish with puts; I can be bullish with calls. I can be bearish with calls; I can be bearish with puts.
I can construct trades on either side. With the implied volatility gets too out of work on one side, I just go on the other side and do the trade on the
other side. I can get the same risk profile that I want.

The two options will tend to go up and down together. Implied volatility on calls goes up as well as puts. Increased implied volatility when the options
get more expensive because … Go back to the concept that I introduced about extrinsic value. Remember I told you to focus and listen to me?

Extrinsic value is related to the probability that that strike will expire at the money. Anything that increases the probability of an option expiring at
the money, anything that increases the probability of a specific option expiring at the money will increase the extrinsic value of that option. Let me show
you in a picture.

This is a Trade Monster has some cool tools that are out there. This is one that you use on the strategy tab that shows you. This is the volatility cone
it’s called. I can set the implied volatility forecast here and it shows me a range of where the equity can move to.

There’s probability, you got a 1% chance of it getting here or here. You got a 5% to 20% chance that it’s going to be on this range. You got a picture of
that cone. I can come in here, type in and change this number. Look what happens to the cone. Let’s say that I made this 50, made it equal to 50, implied
volatility of 50.

That shows you what the market thinks is a good range for this thing to move at. You think that’s helpful? You think you can use that in your trading? As a
minimum you better understand this if you’re going to trade options.

I’ve seen the price of options double or triple or go in a half or almost to zero without the stock moving only due to changes in implied volatility. It’s
very important that you understand this … It’s not rocket science. Go back to what I said. Implied volatility is the risk of future movement. It’s not that

People want to make it really complicated. It’s not. I think people who don’t understand it make it complicated. It’s really simple. If you want to
calculate it and do all kinds of other stuff it can get complicated. You don’t have to worry about that. You’re not going to do the calculations. We’ve got
all the tools for you.

Implied volatility as I said impacts the extrinsic value. Remember this chart. This is what happens before earnings. I introduced this concept, but I got a
nice little chart to show you. As earnings approaches you start seeing all extrinsic value getting bigger. Price of options getting bigger.

When does that commonly happen? Anybody? Before earnings. Before any event, right? It’s anything that has the potential to make the stock price move. I
wish that I could team up with somebody who knew pharmaceuticals. If there’s doctors out there, anybody that understands the drug market, there is some
[buku 00:35:46] money to be made on options out there.

Unfortunately I don’t understand the market well enough. I may understand how this works, but if I could partner up with a doctor or somebody we can make a
lot of money. Actually I’m doing pretty well on my own but big changes in implied volatility around FDA announcements.

Here’s earnings coming up, right? Then what happens after earnings? That my friend is called implied volatility, IV crash. Let me tell you my hot stove
story. Anybody ever touched a hot stove? You normally only do it once in your life, because you remember the next time. I put my elbow on a griddle when I
was a little kid. I was in the kitchen and I put my elbow up and fried that tender part of the skin right there next to your elbow. I still feel it today.
My hot stove incident with options was on Apple. The week before they announced the iPhone I knew something …

I love technology. I follow all technology. I listen to podcasts; I read stuff on the internet. You knew the rumors were out that Apple was … There was a
big announcement big Moscone Center. Apple’s got a big product announcement. This is going to be

I knew that Apple was going to introduce a phone. I bought Apple calls that were out of the money. Apple went up and I lost money. You bought calls, the
stock went up, you should make money. When I was a student and I didn’t fully understand what I was doing. I lost money on calls and the stock went up. The
stock went up you should make money.

If I bought the stock I would have made money. If I did some other trade, if I knew what the heck I was doing, there’s another strategy that I could have
used that would have made money. I know now, I know how to make money now, but then I didn’t realize. Just buying long calls. Anybody ever had that happen?
You go buy a long call and then the stock goes in your direction, but you lose money? It happens and that’s why I lost a significant amount of money. I
learnt my lesson there. That was my hot stove incident.

Understanding IV crash is an important concept. In fact, you can actually harness this and use it to your advantage. You can make money. Here’s a chart in
Netflix. This is from www.ivolatility.com. There’s a number of places to get charts like this.

We have two lines on here. You probably remember the purple line from before. That’s the historic volatility or the standard deviation. It says down here a
30-day HV … The gold line is an IV index. This is an index. Options have implied volatility. Stock does not have implied volatility. There’s no fluff on
the price of stock.

It is the price. It is what it is. There’s fluff on the price of options. There’s foam on the price of options. That’s where the implied volatility only
impacts the fluff. What I’m I plotting here? This is a calculation. This is an index that looks at a cross-section of options and does a calculation for

I’m going to introduce the terms that I’m going to talk about in a second. It’s getting towards the VIX and what’s the VIX is. I’ll explain what the VIX is
here in a second. What I wanted to show is you can see these very predictable patterns, a rise and a drop. 90 days later a rise up and a drop but then it
rise again.

What do you think these are that happen four times a year? Anybody? Earnings. Everybody knows Netflix goes bonkers over earnings. There’s trades that we do
at OptionsANIMAL that you don’t have to worry.

Here’s the other cool thing; this purple line is the historic volatility. What normally happens to the historic volatility bar before options? When is it
the lowest before earnings? When is the volatility the lowest? Usually it’s before earnings. Folks, if are an economist, if you’re in the human behavior,
you can see it in this chart. You can see human behavior.

This is people buying insurance because they’re nervous. This thing can go nuts. It’s going to explode. It’s Netflix. It’s going to make a huge amount of …
I own shares, what do I do? Well a good thing to do might be to call a trade. Buy a put, sell a call. Put in call lock yourself in, neutralize volatility.
I’m not going to go into that. We can teach you that.

That action of people buying protection, call on trades, protective puts, protective calls, makes … This is human behavior right here. This is the market.
People buying options. I want to buy more options. What happens to the price of beanie babies when everyone wants to buy them?

The price of beanie babies goes up. Then when nobody cares about beanie babies anymore, the price of beanie babies goes down. That’s exactly what we see
happen here. After earnings nobody needs insurance anymore, so everybody sells their calls and their puts and the price goes down.

This purple line shows the volatility of the stock. What happens as earnings approaches and you own Netflix? Do you go buy a whole bunch of Netflix? Do you
go and sell a whole bunch of Netflix? No, because earnings is coming and you’re going to wait until after earnings to make your decision. We tend to see
the historic volatility mellow out … before, it’s human behavior.

That story makes sense. Doesn’t it? What would you do? Maybe you’d sell your stock, get me out of here this thing might go up $50. Wait a minute, I’m not
going to do that. I’m going to buy a put. If the thing goes up $50 I make money. I got to put protective on the down side.

That’s what people do. That’s what institutions do. That’s why this chart happens. You can make money. You can make money from this drop. You can make
money from this thing going up. You can make money from this. You just have to understand how to use options. It’s all there. You can be protected and
limit your risk the whole time. It is cool. I’m excited about that. That’s just how I am.

Let’s talk about the VIX. What’s the VIX? The VIX represents the implied volatility of a theoretical after the money option that expires in 30 days, got
that? The VIX represents the implied volatility. Implied volatility that’s the risk of future movements of a theoretical at the money option on the SPX.

If there was an option, the SPX trading at. What’s it trading act today? 15-something. If there was an option exactly at that price that expired in 30 days
and we can measure the implied volatility of it, that’s what the VIX is. Why do we do that? Because we need some sort of a benchmark. If you ever looked at
implied volatility per sense on a stock chart, they get a little confusing. When they’re out of their money some squally things happen. When they get close
to expirations some squally things happen.

If you understand the options you can process that but what they decided is let’s get something that just makes it easy for us to look and say, yeah. Is
implied volatility higher or lower? That’s why they came up with this calculation of the VIX.

Another way to think about it, do you remember those boxes that I drew those 30-day boxes? This is an Aha! for you folks. What the implied volatility as
represented by the VIX tries to do, is to predict what the historic volatility is. Remember I told you implied volatility is implying what the volatility
will be. That’s what the VIX does.

It tries to say what will the historic volatility be for the next 30 days? How do we measure that? How do we calculate that? The easiest way is to get into
a time machine and go forward 30 trading days. Yes, I’m being facetious or sarcastic, I’m not sure which. I’m making a joke. If you had a time machine and
you could go forward 30 days, then look at the VIX over the past 30 days and do a calculation on the historic volatility, that’s what the VIX tries to do.
I showed you that chart on Netflix, that gold mine that came from www.ivolatility.com.

Trade Monster actually has a pretty good one too and there’s other places out there that have those charts and they’re VIX like calculations. As a matter
of fact, the CBOE now has introduced five volatility indexes on different equities. There’s one in Apple, there’s one in Goldman, there’s one on Amazon.
There’s five of them that are now out there. That are stocks in those that you can get. I think VX APL is the VIX Apple that’s out there. It’s basically
the same sort of calculation. It does what I said. It tries to look forward 30 days and say, “What would the historic be in 30 days?”

Calculating the VIX isn’t that easy. How do we find the implied volatility of an option? I’m changing gears here. This is what a lot of people think; we
know how to calculate the implied volatility of an option. You’ve got the stock price, the strike time, the expiration dividends, free interest rate,
implied volatility. All of those things go into a formula. Anybody know the formula? The Black-Scholes model. These guys won the Nobel prize in Economics,
Fisher Black, Myron Scholes. Those guys know how to party. They are awesome. Just kidding. They’re legends.

Actually, Myron Scholes is still a professor at the University of Chicago and these guys are geniuses. Of course, they are also the geniuses that went on
to form long term capital management. Another example of why academics don’t actually know how to trade very well.

The theory works great. This is how we solve for implied volatility. When you look at implied volatility percent when you go to an options chain and you
say, “What’s the implied volatility on that?” You can look on the chart and say, “Yeah, it’s got a number.” That’s how it’s calculated. It uses something
like this model.

There’s a couple of tweaks on this model. There’s the Martin version and then there’s the Berkshire Scotland’s model. Mathematicians you guys can geek out
on that, real people don’t worry about it. The numbers are there for you. You just got to understand. Guess what, that’s not how we calculate the VIX. We
don’t calculate the VIX that way.

The way we calculate the VIX was created by Dr. Whaley from Duke University, so picture of Dr. Whaley there when he was at Duke. He’s actually at the
University of Virginia now. He tried to create this thing back in ’93 to be a benchmark of short term volatility, so that we can eventually be able to
trade against it.

Like I said it’s a forward looking measure and you can get that. This is straight out of his paper. You can Google the paper, you can find it on CBOE.
Interesting aside here as I saw at Dr. Whaley interviewed on CNBC by Simon Hobbs.

Simon was interviewing Dr. Whaley and said, “Congratulations on creating this thing the VIX that’s talked about so much and it’s so widely used. You must
have done very well for yourself.” Dr. Whaley says, “Actually, I didn’t retain any of the rights. I gave it all to the CBOE.” He’s not making any money out
of his awesome … Another example of academics who aint so good at business.

How do you calculate the VIX? I’m going to go through this really quick because this is a bit of job. You use two months of options, which two months do
you use if there’s eight days or more, we use the current month and then the next month. We don’t use the weeklies. This month there’s expirations March 15 th we’re going to use March and April options. If there is less than eight days we would, when it comes to less than eight days, we’re going to
use April and May options. Right now we’re using March and April options.

We use all of the out of the money options that have none-zero bid prices. We determine the forward price which is by taking the absolute difference
between the bid of the call and the bid of put and determine where the difference is the lowest. That’s what we call the forward price. We calculate
exactly how many minutes the expiration then we do a whole bunch of math. Then we take the square root, multiply our 100 and that’s how you get the VIX.

Why do I go into this? Because the VIX is complex. Why go over that? Because it’s complex. There’s lots of different moving parts on there, all kinds of
things that can impact you and maybe go wrong. That was a little bit of a joke, but that’s true.

The VIX is a pretty complex thing and pretty quirky thing. Anything that’s that complex has some weirdness to it. Take for example, rolling from one month
to the next month when there’s eight days left. Do you think that impacts the price of the VIX? Yes. Do you think it has anything to do with changes and
implied volatility? No.

The VIX changes but it doesn’t mean there’s a change in implied volatility. The forward price, that’s impacted by the pricing of options using only out of
the money. Why do they do that? I don’t know. They could use any of the money options too but they only use out of the money. They only use the ones that
have none-zero bids. That’s weird so they might skip a few.

All of these factors that we’re talking about here can be impacted by implied volatility, I agree. That’s what we’re trying to measure by implied
volatility but guess what the market maker he has control of the bid/ask spread so he can impact the VIX.

If somebody placed a large trade at a specific strike, they can actually move one of these things that I talked about that are going into the calculation.
Yes, you can move the VIX by placing the specific trade even small traders.

Folks, you with $50 can move the VIX. It looks good on you resume, doesn’t it? “I moved the VIX. Look at me.” If you want to waste $50 you can make the VIX
move. I got an Excel spreadsheet that shows how the VIX is calculated. With $1,000 you can actually make a pretty significant move in the VIX if you wanted
to move the VIX. Why would you?

You can’t trade the VIX. We’ll get there. It’s quirky. Traders can impact the VIX. It’s weird. There are some other quirks too. We have a quirk called the
calendar quirk towards the end of the year, December tends to have more holidays but the calculation doesn’t take that into account. It artificially makes
volatility look lower than it is because there’s the same amount of volatility is spread over the last days.

We also have the skew. Sometimes when the market moves down people will buy more puts. That makes the VIX go up. It may and it overstates the fear that
really exists.

News. Good news happens, right? Remember I talked about implied volatility. Implied volatility could be good. There could be something good that’s coming
out and that could make the price of options. Everybody wants to buy calls because something good is going to happen.

That can cause the price of the VIX to go up but people say it’s fear. It’s not fear. You got to be careful with the VIX. It’s got a lot of quirk out
there. What does it measure again? It’s the implied volatility of the theoretical at the money that expires in 30 days.

What it tries to do is predict the historic volatility. How well does it do that? I’m a mathematician. I’m not a mathematician. I’m actually an engineer
but I don’t take anything for granted. I study everything. Here’s a comparison of the historic volatility and the implied volatility.

What I noticed on this is that there’s not a lot of lag that they tend to move together. Let’s just focus on what this means. How well does the 30-day
historic volatility compare to the VIX. That’s what the VIX is trying to do. Is telling me what the historic volatility is in 30 days.

The R squared, this can be expressed as a percent. 59% co-relation, 59.7%, 60% co-related. It’s somewhat co-related. I would say 60%. That doesn’t make me
feel great. It’s more co-related than not. That’s 30 days from now. That’s the volatility of 30 days from now. I did this math myself and I said, “What if
I did 20 days, 21 days? I looked at all different sorts of days.

What really struck to me was that historic volatility today has the best co-relation to the VIX. That’s not supposed to be what happens. You’ve got an 81%
co-relation to today’s historic volatility. That means that the VIX which is supposed to predict implied volatility or historic volatility in 30 days from
now is more related to what happens today.

What does the VIX really tell us? That’s what it tells us. It’s what the historic volatility is. It’s a complicated way to measure what we already know and
can calculate a lot easier. Just take the standard deviation. You don’t need to go through all that mess.

What does it tell us? It does give us some indication of fear but usually is that fear because of what’s going to happen or because of what did happen? The
market moved and people … What moves the VIX other than those quirks, but what really moves the VIX is people buying options. People going out and buying
options on the SPX.

Why do we do that? You may own a dozen different stocks; if you want to hedge your whole portfolio you go by puts or calls or do whatever you do. You do it
on some index that represents your portfolio rather than, I’m going to buy options on Apple, I’m going to buy options of GE, I’m going to buy options of
Lulu Lemon. It’s just easier to go hedge your whole portfolio on the VIX or in the SPX. That’s why we do the VIX. What the VIX really tells us is whether
options are expensive. It gives us an idea of option prices. Are they expensive or not? When the VIX is high options are expensive. That’s what it tells

Not a very good predictor of future volatility though. It isn’t. Honestly the VIX doesn’t do what it’s supposed to be. I listen to the people on CNBC
everyday talking about why the VIX moved today. A lot of times it moves because it’s quirks, it’s almost a ‘So what? Who cares?’ The VIX is really

A lot of people want to try trading the VIX. Let me ask you guys some questions. Can you trade the VIX? Yes or no? Can you trade the VIX? The answer is no.
You cannot trade the VIX. The reason why is because … I’m talking about the spot VIX, the VIX that we look at today. You cannot trade the spot VIX.

The reason why is what I talked about manipulation. I personally with $50 can move the VIX. With $1,000 I can really move the VIX. Why would why? If I had
a lot of money and I could trade the VIX, I would put $1,000 in the VIX and then I’d put $100,000 in some other trade that takes advantage of it.

“No, Nobody would ever do that Eric. Nobody would ever manipulate the market to be in their favor. Come on, common sense, no.” Yes, absolutely. That’s why
you can’t trade the VIX. It can be manipulated. It’s not a joke. Its complete fact and I can show you. Can you trade options on the VIX? No, you can’t
trade options on the VIX.

“Eric, I can go looking at options here and I see options.” Those are options on VIX futures, which is a completely different thing. Those are options on
VIX futures. The VXX and some of these others are based on VIX futures. Those are actually some combination of VIX futures usually.

If you’re going to trade options on the VIX futures you better know how to get information on the VIX futures. Can you trade VIX futures? Now you’re afraid
to answer me probably, right? The answer is most of you cannot trade VIX futures. You need a special account. There’s only a few brokers out there but if a
retail trader really wanted to trade VIX futures they could.

Most of you if you’re listening to me right now can’t trade. You have the ability to go find an account with a specific broker. Most brokers that most of
you have accounts with do not offer VIX futures. I know some of you, “My broker offers.” You can trade VIX futures.

Let’s talk about that manipulation thing. As I mentioned the options on the spot VIX are not traded because it’s easily manipulated. The VIX is derived
from the out of the money options because I can place trades on the out of the money options, I can manipulate the VIX. Futures on the VIX are set by the

Mostly those are done by institutional traders, people hedging their portfolios or organization, entities hedging their portfolios. The question I ask is
for those of you that are trading the VIX if you’re not with me step on this then you definitely shouldn’t be trading the VIX.

The question I have is, are the VIX futures impacted by SPX options? Let’s go, follow me on this logic. The VIX is calculated based on SPX out of the money
options. If that’s true then it’s logical to conclude that the VIX futures are co-related to the corresponding SPX options and this is a fact.

Institutional traders will take the out of the money options on the SPX and put them into a model and calculate what the VIX is implied to be in the future
and then compare that to the actual future. If what I just said to you is making your head hurt you absolutely better not be trading the VIX futures
because that’s what the professionals are doing.

If you don’t know how to do that calculation, you have no right trading the VIX futures. That’s what institutionals do, and because of this fact VIX
futures can be manipulated too. Personally I traded VIX futures for about four months. I thought I had a trade down that were great.

At the end of the fourth month I ended up taking it pretty hard. I really couldn’t understand what happened and I think I got manipulated. This is not a
place for retail traders to be trading. Let me give you an example. This is a trade that I see people still promoting. Let me give you an example.

Here’s a trade that would have been placed on September 8th the VIX is trading at $23.06 here’s a chart of the VIX. If you’re smart, if you’re
going to trade anything on the VIX, I don’t care if it’s the VXX or anything else. You need to be able to plot the VIX’s futures. The VIX looks stagnant
and if I look at the VIX futures, those are even more stagnant so here’s the two chains or the two charts for the VIX futures. Some look stagnant. What’s a
good trade to do when it’s stagnant? A good trade might be an NR condo, a calendar trade would work very well in the stagnant trend.

Let’s say that we do a call calendar. I buy the open the December 25 strike for $2 debit and I will sell to open the October 25 strike for a $1.50 credit.
What’s the net debit on this trade? Anybody trade calendars out there? What’s the max risk on our VIX calendar trade? The debit, you think so, 50cents.
Does this look like a safe trade? Is it worth doing for 50 bucks? Not $50, two-10 contracts, right? What’s the most you can lose, $500? Do 10 contracts,
right? What’s the most you can lose? 500 bucks? Do 10 contracts. It’s only 500 bucks. It looks stagnant. No big deal, right?

People did this trade. Come October expiration what happens to the VIX? There’s a big movement. The December 25 which I bought for $2 is now worth $13.50,
awesome. Except the October which I sold for $1.50 is now worth $38.35, meaning a loss of $25.70. If I did 10 contracts on this, I just lost $25,700.

This happened to people. There are people out there recommending calendars on the VIX. I just saw a webinar just a couple of weeks ago of some professional
company telling you to go do calendars on the VIX. I’ll yell till I’m blue in the face. People go, “No, the most you can lose is the debit on a calendar.”

These are not standard options. This is like doing a calendar on … let’s say you bought a call on Coke and sold the call in Pepsi. That’s what that’s like.
Usually those two move together, not a big deal. Might be okay. The VIX is a completely different beast and because of that you can take huge losses.

I do not advocate trading the VIX, unless if you can run those models that I talked about or any of the exotic exchange traded notes. I’ll bet you that
anybody who’s trading those is not making money. Anybody listening to this is not making money. At least not making enough money to pay for an electricity
bill for three months.

You’re making more than enough money to pay for an electricity bill for three months, it’s not luck, and you know what you’re doing, congratulations. Most
of the people who trade the VIX lose money.

Conclusion here is that historic volatility looks backwards, implied volatility is looking forward. That’s an awesome crystal ball. Don’t get me wrong
about trading volatility. I trade volatility all the time. I just don’t trade the VIX. That curve I just showed you going up and down around earnings, Greg
will tell you, I love that thing. I make money. My risk is so low it’s not worth it to try and mess with those exotics.

Implied volatility can be managed and it can be traded that’s an edge that you can have. You’ve got to be really careful if you’re going to try and do
anything with the VIX. You can make money with the stuff, and we can show you how.

Greg: Let me interject here, Eric, thank you. One of the things, like I said I do a lot of these webinars and I will say that of the questions that were
asked by you in the class. This is by far the most times I’ve been asked. I usually get asked this question in every single webinar we do is, is this
webinar recorded and can I watch it later. I was asked that more times in this webinar than any webinar I’ve ever done before. We just went over a lot of

Eric: People’s heads are exploding?

Greg: I hope you all realize this is really important stuff. One of the things that’s really unique with OptionsANIMAL is how we teach. Absolutely we
record our webinars and we make them archived for all of our students. We don’t just give you, here’s a big [Rarar 0:65:14] seminar we’re all going to go
to and come and learn how to trade.

We teach like this primarily. We teach in a webinar format where you can come in and participate. You can come in and ask questions, you can come in and
learn at your own pace. If this is way over your head, we archive it and record it and you go and watch it again and again. You can watch it from a
different coach.

Maybe you didn’t like the way Eric taught the presentation because it was way too deep. We have multitude of different instructors who do the same thing
all of them experts in trading. They are all academics to their certain degree. The one commonality we all have is we’re all trading, we’re all making
money. Let me just give you an example.

One of the things we do as an organization we send another thing called an Animal Trade. We’re very systematic in how we trade. I just wanted to show you
our real results. These trades are placed by our instructors. They’re updated real time, so that our students can follow along with them. The results of
these trades and Eric you’re going to have to click through the next slide because you still have control of the screen.

We’ve sent out 145 of these trades. The average duration in the trade is 48 days. We have 11 of them open. 9 of them closed for loss, 125 of them closed
for profit. That’s not because we have a crystal ball and we know exactly where stock is going, or where the SPX is going. It’s because we know how to
adjust trades that have gone the wrong way and that’s one of the specialties we teach people at OptionsANIMAL.

The average return per trade is about 8% and that doesn’t include the losses those 9 losses as well. If you annualize that, it’s about a 60% annual return.
Our win loss ratio 125 out of 134 is about 93%. We do end up having to adjust a handful of those. 45 of those trades were adjusted. About 30% or about a
third of every trade we look at ends up having to be adjusted.

This can be learned folks. We teach it better than anyone in the market. Not just with our expertise and the people we have teaching the classes, but the
way we teach you, so that you can take it over and over again and have the ability to interact and get your questions answered.

This is all included in the course or the curriculum. One of the things we’ll do right now is special offer for you folks in this webinar. If you want to
lock-in in pricing for some discounted price we’re offering right now. Give us a phone call within the next 30 minutes to find out how we can help you.
Hopefully what you’ve seen with what Eric has just presented is that there’s a whole depth of information that you as a trader need to learn before you
venture out into the market.

One of the things I have found in my tens of thousands trades that I’ve executed is the market doesn’t care whether you think you get it or not. It just is
the market and it will teach you some very painful lessons. That’s what we’re all about at OptionsANIMAL. Is teaching you how to succeed in the market,
showing you how to succeed in the market by allowing you to look over our shoulders and being part of a great community.

Again if you want to lock in a 25% discount on the retail price, give us a phone call in the next 30 minutes. The phone number is 888-297-9165. For those
of you who happen to be calling internationally and 800 numbers don’t work, 801-331-7500.

Eric, thank you for coming. I thank every one of you for taking the time out of your day for coming today. Again, give us a phone call here and speak with
one of our experts here on the phone. We can get an idea of how we can help you custom fit a program that will help you become a better trader and how to
use implied volatility to help improve your results.

Thanks again for coming and I look forward to seeing you in class.

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James Hutchins
15:12 13 Jul 17
Options Animal has really improved my understanding of using options to supplement my income, as well as protect my portfolio. I had tried other options programs prior to choosing OA, but was frustrated because they did have a complete approach. Options Animal wants you to fully understand options, and equities that you may trade, allowing you to make much better choices, both in investing, and using options for income, and protection. Thank you, Options Animal!
Jackson Simon
Jackson Simon
19:58 25 Oct 18
Wonderful experience so far with this superior source of education on options trading. I continue to enhance my skills and knowledge week to week with the help of their highly experienced coaches and easy to follow curriculum. Learn to protect your investments now to ensure a brighter future in retirement and to pass on to your posterity. Highly recommended!
John W
John W
20:53 28 Jun 19
Brice is very easy to work with and does what he says he will do. Thanks again Brice for the good service
Jerry Boatman
Jerry Boatman
03:10 21 Dec 19
Fantastic Training that you can do at your own pace.
oliver fox
oliver fox
18:43 06 May 19
I am simply amazed at the amount of knowledged displayed by the option animal instructors at the Chicago summit.after having listen , and asking questions ,my knowledge of the stock market,and option has increased to a level way beyond that of the average trader. I am so thankful for finding optionsanimal.
Curt Rosemann
Curt Rosemann
17:40 12 Oct 18
By far the best I have found for indepth training and insight as how Options really work. Logical class order. Highly knowledgeable instructors for each element whom can provide detailed answers to any questions.
Edith Falls
Edith Falls
18:48 10 Dec 18
Douglas Weed
Douglas Weed
22:45 23 Oct 18
Zack quickly answered the question I had about choices for brokerages with respect to commissions.
oliver fox
oliver fox
03:42 11 Nov 18
OPTIONSANIMAL,OPTIONSANIMAL,OPTIONSANIMAL!!!! the very BEST in options education.-------- the very BEST.
Bruce Ash
Bruce Ash
21:22 01 Jan 19
OptionsAnimal has been a great experience. I have learned a lot about options. It is nice that you can learn at your own pace and get help as needed.
Jim Jackman
Jim Jackman
21:55 07 Apr 21
I have been with options animal for a couple of years now. I was previously trading options with varying degrees of success but with no real understanding of what I was doing and whether or not it made sense. Options animal has given me a grounding that I needed to begin to manage my portfolio and understand the trades that I'm placing. It's training has helped me replace "greed and gambling" with common sense It is giving me an understanding of the options market. All of their instructors are excellent and it is a great virtue that they have and explain different approaches to the same lessons. I always find that I learn best when I review the same materials from different competent sources. Option animal provides that in great measure. In my opinion it is well worth the investment and I continue to look forward to their programs and trading analysis.
Michael Lawrence
Michael Lawrence
22:02 12 Sep 18
Options Animal is an excellent organization. I am very happy that I have found them. The website is wonderful and easy to navigate. Options are a complex instrument and they certainly know a great deal about their subject matter. Greg, Jeff, and Casey, as well as the other members of the company are all warm, kind, funny, helpful and extremely intelligent. Options Animal is a solid organization. I am very excited to move toward a complete understanding of options. I hope to grow along with their company in the future. I would give them a stellar review.
William Dedes
William Dedes
15:32 12 Sep 18
I recently joined animalsoption. I may be a slow learner but I like to take things at my own pace. This program is very educational and extremely helpful in my self directed portfolio. I have been listening to the lessons at my own speed. The recent seminar I attended in Buffalo New York was extremely helpful. They offered to return my tuition if I was unhappy with the program. The lessons have already resulted in profits for me so I doubt I will be asking for a refund. Animalsoption is awesome.
Becky Hutchins
Becky Hutchins
14:51 13 Jul 17
I have taken several classes/seminars on option trading. OptionsAnimal is by far the best I have taken. The instructors educate us on the specifics of why options move the way they do, so we can make decisions based on what we have learned, rather than just following the "rules" someone else has set up. The instructors are helpful, knowledgeable and willing to share their personal experiences, including trades that didn't work out the way they had anticipated. I especially appreciate the way they emphasis that we protect our portfolio and only take on the appropriate risk we can live with. I highly recommend this program to anyone who wants to learn how to generate monthly income build their wealth and protect their portfolio.
Linda Wood
Linda Wood
18:20 04 May 19
Gerry Young
Gerry Young
18:22 28 Jun 19
I've been an Options Animal member / student for a bit over a year now and am incredibly impressed with the organization, their depth of knowledge, their teaching methods and their support of their students. In fact, I just signed up for life time membership so that I can continue to make use of the resource for the rest of my trading career.Before becoming a student of O/A I had been studying options trading technique on my own, attending webinars buying books from Amazon & etc. for about three years and not doing very well at it. I was also trading equities as I had been for the past 17 years and my portfolios were increasing in value from my efforts but not by leaps and bounds. In fact I was just covering living expenses plus a little bit and looking for a way to become a more successful trader; hence my foray into options.Joining Options Animal was like stumbling out of the woods and into the sunshine. "Don't try to trade options until the end of the course when you will have learned how to do it." was their first piece of advice. ( Wish I'd had that tattooed on my wrist three years ago. It would have saved me a bundle.) Next piece of advice: "If you do experiment with trading options just count the results as increased tuition costs." (Yeah, I had to learn that the hard way.)Then they proceeded to a very detailed analysis of markets / equity trading with instructions on where to find the real information for fundamental analysis. This alone resulted in a measurable improvement in my efforts at equity trading. After that it was straight into options, "the Greeks" & etc.What makes the O/A teaching method a cut above anything else, in my opinion, is that there are four primary instructors all from different backgrounds who each teach all the lessons in the curriculum. All of their efforts are recorded in the O/A archives which gives the student the ability to gain exposure to the same material from four different perspectives. And because the instructors are continually presenting the material over time one can gain a better understanding from listening to the same person giving the same talk but in a slightly different way.Any points not clearly understood can be repeated instantly or reviewed in its entirety later. Students can also interact with the instructors in real time during the scheduled sessions or attend the weekly open forums to cover specifics and have additional questions answered. One is not locked into a rigid class schedule which is going to move forward whether the student understands the presented material or not.In addition there is a bulletin board / chat room organized by courses and lessons and related subjects where students and interact and learn techniques from each other and the participating instructors.Long story short: if you really want to improve your trading to the point where your success rate is above the ninety percentile point then Options Animal is what you've been looking for.
Merlin Andrews
Merlin Andrews
16:01 06 May 19
The best options trading education available that I have ever encountered by far, and one of the best values in any education. Great instructors, a very supportive community, and a tremendous amount of information and content. Not get-rich-quick, but life changing if you are willing to put in the work.As a graduate of the program, I continue to learn and grow from everything provided by OptionsAnimal and continue to improve.
Sergey Golub
Sergey Golub
21:22 19 Dec 19
If you a new or an experienced options trader this is very much desired service where you can learn a lot and get help when you need it most from live coaches at Options Animal.Keep up guys with great work!S. G.
21:42 22 Feb 21
Very professional group. Brice Hogan provided excellent pre and post sales support. The instructors are diverse and provide different views on the same subjects which helps me to be thoughtful about the subjects and retain the information. The classes are well laid out and build upon themselves. The community approach provides me with an environment that will foster lifetime learning. This is not the first investment education company but their lifetime membership is an excellent value for my long-term growth. Thank you.
King Cone
King Cone
23:23 08 Nov 18
We have been with Option animal for 7 years plus. They have delivered on all levels. If you want to learn to trade options there is no better education. Make sure you finish all you levels before you start live trading if you don’t your education will cost you more as I learned the hard way . One other point make sure you try to attend as many conference that Option animal puts on you will not be disappointed .Your trading skills will get sharper and most of all you will meet a bunch of great traders
Steve Rosenlund
Steve Rosenlund
22:16 04 Mar 20
Some classes are very technical, I can repeat them as needed. I would rather retake a class than see it dumbed down.
Rex Villarruz
Rex Villarruz
02:39 11 Sep 18
To GOD be the glory.January 2016 my wife and I started this journey.May 2018 I quit my good job and pursue this trading carrier.Thanks to "OPTIONSANIMAL" system, now i managed our 401K and IRA,by doing a covered calls and collar trade.I learned that the market is dynamic, not all of my trade need a stop loss in place, instead i learned how to do adjustment if the play is against me. I only focus on the strategy that is working for me and fit my lifestyle. I keep repeating it. Very important is money management and position sizing in order to survive in this business.
Robert Wendorf
Robert Wendorf
16:43 01 Sep 18
I believe an Option trader needs to be educated, not sold a system or a trade picking service. I found Optionsanimal to be a great place to get that education. The training is well designed and structured. Upon completion, you will be able to pick your own trades, adjust them as needed and close them successfully. I was actually able to cover the cost of membership with the profits I made from trades I initiated myself! Here is the secret... they actually teach you how to make adjustments when trades go wrong.
Markus Bandomir
Markus Bandomir
14:53 18 Jan 18
Sunil Tomar
Sunil Tomar
19:05 29 Sep 18
Samuel Chimento
Samuel Chimento
13:10 14 Feb 19
Hello,I have been an Option Animal student for 5 months now and have completed levels 1 through 3. So far I have learned how to make directional trades as well as high probability credit spreads"Even though I have only completed the first 3 levels my current trades are ranging from 15% to 47% profit per contract. The winners are steadily rolling forward.I am looking forward to completing all the levels and learning debit spreads, hedged trades, straddles, strangles, collars and winged spreads.This education makes option trading crystal clear and easy because you will have confidence in what you are doing and finally enjoy making money on a daily basis.Most importantly, take your time and learn the material in detail, I think that is the secret to doing well!Enjoy your education.Sam
Kim Schaeffer
Kim Schaeffer
00:05 14 Sep 18
I've read books on options for over 20 years but really never felt like I had a specific strategy to hedge my stocks because there are so many from which to chose. OptionsAnimal has an excellent strategy/approach that allows me to hedge my stocks based on my personality style within the OA system. The instructors are brilliant and passionate about what they do and want nothing more than to help their students of all skill levels. Thank you OA!
John S
John S
01:11 16 Jan 19
The Option Theory is adequate with but the concepts only really sink in when theory is further explained in some practical application examples or case studies using live and current stock prices .
Kai K
Kai K
21:32 28 Aug 18
OptionsANIMAL has been great. They are a true and honest company that are willing to help normal people become successful investors who use options. Highly recommend this company.
Stephen MacLean
Stephen MacLean
02:27 11 Jan 19
Ron Pensari
Ron Pensari
23:51 12 Jul 17
optionsANIMAL is by far the most comprehencive options education program I have ever experienced. I have gone through enough programs to know that this school does an exceptional job in educating and supporting anyone with the desire to become an options trader. The coaches are extremely helpful and knowledgeable. It does not matter what level you trade, their course structure takes you in depth from the fundamentals all the way to the most advanced strategies. The cost for the course is well worth the money...I am a lifetime member and am glad I did it!! But, you can start at any level. The education I am learning will last a lifetime!
Nag Malluru
Nag Malluru
16:16 09 May 19
I like the education that OA provides and it is really interesting to see all these strategies in real world. I am seeing the difference already and excited to be part of this.Community and Live tabs are amazing and helps us to stay connected with the schedule and other member thoughts etc.
Kaleb Fife
Kaleb Fife
14:40 22 Jul 21
As a 23 year old with a decent amount of trading experience, I decided to try options. It always seemed “scary” which led to me trading other things like crypto and stocks. I always thought options were interesting but they seemed more complicated. With “theta” and “delta” and strike price and all these other things that made it seem super hard to understand. I finally decided I wanted to try them and started watching some YouTube videos but it still wasn’t really making sense and was hard for me to wrap my head around. That’s when I was introduced to OptionsAnimal by a friend. OptionsAnimal is a great options education for all skill levels in trading, from beginners who have never traded before, to more advanced traders looking to hone their skills and engage in a community of real, honest traders, not “gurus” trying to sell stock picks or other services. The education breaks trading down to a fundamental level that focuses on learning how markets and trading work, as opposed to just putting out stock picks or a single trading strategy that doesn’t always work. Instead they focus on building an understanding of why and how and provide a framework for building your own strategies based on solid trading theory. They also simplified the daunting jargon of options and made the Greeks, and other seemingly complicated aspects of options easy to understand and utilize in trading. The biggest benefit of OptionsAnimal beyond the education, however, and the thing that I think separates them the most from any competitors is the community. There are always live classes being held either covering education material, or live Q and A sessions with instructors, or weekly market updates on how the markets are acting, upcoming potential catalysts, etc. In addition, there are forums in the website where all of the instructors are available to communicate with and ask questions to, as well as the entire community in general. Overall it is a far superior experience to other competitors I have tried. I would recommend to anyone looking to get into options or looking to advance their skills and understanding.
18:57 04 Oct 18
They have wonderful teachers, I learn a lot from them. Even the tuition is expensive, but from what I have learned, it is worth and will benefit for the rest of my life.
Dr. Rina Shinn
Dr. Rina Shinn
17:58 01 Feb 20
This is the program that I wish I knew at the beginning before I poured in ridiculous amount of money in order to learn about options trading. Highly recommended.
Steven Hollosi
Steven Hollosi
17:14 26 Jun 20
I have been trading options for several years with some success just as a hobby, when I decided to trade options as a business and a source of a regular income, i searched for an educational platform to enhance my understanding and of the market dynamics when it comes to trading option I discovered Options Animals, called them, confirm that this was an educational focused platform that I could benefit from. The rest is history, I could not be happier with the results and support I received over time. They will teach you on how to enjoy the success rate of 90 plus percent of profitable trading with a thoughtful methodology and a plan of execution.
I am sold for life. Keep up the great work everyone.
Thank you,
Steven Hollosi
Mr. Bodin Hugger
Mr. Bodin Hugger
17:20 13 Jun 19
Excellent training from multiple experts.Member as of February 2019. I have completed up to level 3.Trading options since 2009-2011 when one could throw a dart and win!Excellent archives for training classes with Kathy, Joe , Eric, Charan , Jeff, and Horace. These are excellent educators because of the different styles each educator brings to their client.OA Trader work shops offer insight on how to think.The Wednesday and Friday updates also educate the client on how to think. These updates educate the client on how to separate the noisy events from those that are important.Entering into the options trading world with out OptionsANIMAL training is foolish.I am very pleased with the value of my decision to join OptionANIMAL.I wrote with review on my own accord and will stand by this review.Bodin Hugger, JRMetaire, LA 70006
Kevin McDermott
Kevin McDermott
20:02 23 May 19
Even though I have been trading options for a couple of years, I was happily surprised by learning things I either did not know or did not understand as well as I should have.Excellent education program that is good for everybody from beginners to experienced options traders. Plenty of resources and actual people who can answer your questions or help you deal with any unexpected difficulties.Top notch organization doing top notch work. Check them out.
18:16 01 Oct 18
This was my first Summit experience and I thought attending was very worthwhile. The programs and materials were helpful and the open session Q&A following the presentations was great. I left with six other OA members contact information to really get into the “community” feeling!
Joseph Woollen
Joseph Woollen
04:03 15 Nov 19
I have been pleasantly surprised with Options Animal. Having used other options training programs with limited success, going through the Options Animal courses has been like getting a graduate degree. Their courses are comprehensive yet understandable, and it’s particularly helpful to go into their video archives to take the same courses numerous times - each with a different instructor with a slightly different teaching approach. And it’s hard to beat theIr support and collateral materials.I highly recommend Options Animal.J. Michael Woollen
Ivan Peytchev
Ivan Peytchev
21:44 04 May 19
john kraus
john kraus
19:00 13 Nov 18
The experience and information have been outstanding thus far. I insist on thorough coverage when it comes to my interests and pursuits. OptionsAnimal are meeting and exceeding my expectations. The personel are very supportive as well. So far, i have interacted with Brice, Jordan and Warren. All of them were flawless in their professionalism and very personable as well. i never felt rushed in my inquiries and they efficiently offered complete and even comprehensive answers, making sure i understood what i was trying to learn. Thank you!! so far so good!John Kraus
Dana Podliska
Dana Podliska
21:36 04 May 19
Jeffrey Nee
Jeffrey Nee
14:29 30 Sep 18
Excellent teachers dealing with a complex subject to a room full full of varying skill levels. They succeeded.
Carroll Rogers
Carroll Rogers
02:34 24 Sep 18
Options Animal has proven to be interested in the success of me as a successful trader. Their staff has answered my questions, and the presentations give a good understanding about many option strategies that I did not know existed.
Joe Kerner
Joe Kerner
20:42 29 Aug 18
Option Animal has trained me with a process to manage my portfolio successfully. Navigating the market with confidence while using our 6 step process has helped me increase my returns while reducing my risk.My old friends Luck and Hope are not a trading strategies anymore. Using the three legged stool approach of fundamental , technical and sentimental analysis has guided me while using options to profit in any market direction. While also giving me the tools to adjust my positions when the market reacts opposite to my analysis.The team of instructors are in a single word AWESOME. They care about teaching you so you can manage your money with confidence.Thank you OA team!
Mark Zimmerman Sr
Mark Zimmerman Sr
20:32 07 Sep 18
If you want to learn options this is where you will lean it! Great education, even better support
Blaine Jones
Blaine Jones
01:36 25 Jun 19
Options Animal is one of the best, if not the best, educational experience I have ever had. If there were more than 5 stars I would rate them a 10.
s hart
s hart
21:26 04 May 19
The knowledge I've gained from being involved with Options Animal since 2013 has been extremely refreshing & tremendously helpful. I don't have to fret about what's going to happen with any trades I have going, because I already know what can happen in any type of market movement and thus, can prepare accordingly. If you have intentions of becoming a trader yourself, whether you're a rookie or have played with the stock market for years, this is the place you want to be to get you aimed in the right direction. The instructors are amazing - very knowledgeable & deeply caring. The membership community is wonderful. Getting with these people personally at the Summits is a great thing. You most-likely will end up with some wonderful friendships with fellow traders (and instructors) in the community. The things you can do with this education are limited only by you.Scott Hartman - OA Graduate
Amànda Dorion
Amànda Dorion
23:28 16 Oct 18
Options Animal has been great. The instructors are fantastic and everyone is always very willing to be available and answer any questions. The way the material is set up also flows very well.
William Klun
William Klun
19:44 28 Dec 20
I've done a lot of stock and option training education over the years but this is the first place that actually delivered on what they advertise. They don't just give you trades or give canned formulas to execute, they give actual training courses and make sure you understand them before moving on to more advanced topics. There is ample opportunity to get feedback from instructors on any and all aspects of option trading. I had been trading for years before signing up and I didn't know how much I didn't know. I am so much more successful in my trading than before and I'm learning more here everyday. Worth the price of admission!
Peter Schulz
Peter Schulz
16:08 05 Jun 20
This company is for real! The education is top-notch and can help you whether a beginner or a seasoned veteran looking for new approaches. If you are looking for the resources you need to add options trading to your investing, I can't imagine a better place to get it. The community is amazing and supportive, the instructors are great, and the site has endless archives to go through. Following along with experienced traders as they identify, make, and then adjust trades really drives the lessons home. I wish I had joined this 10 years ago.
Karen Berliner
Karen Berliner
21:15 14 Nov 18
I first learned about Options Animal just about two years ago. I could immediately see what a comprehensive educational program it is and how I could become a successful trader. I finished the program in a year and am extremely pleased with the success I have had this year, far exceeding results obtained by the S&P 500, the Dow, and NASDAQ. Not only does Options Animal provide an excellent curriculum, it offers multiple ways for students to learn and each of the coaches is fantastic. They want their students to be successful. The changes that I have been able to make as a result of being a member of the Options Animal community have been important for me professionally and personally. I recommend it highly.
Steven Hollosi
Steven Hollosi
17:44 26 Jun 20
I have been trading options for several years with some success just as a hobby, when I decided to trade options as a business and a source of a regular income, i searched for an educational platform to enhance my understanding and of the market dynamics when it comes to trading option I discovered Options Animals, called them, confirm that this was an educational focused platform that I could benefit from. The rest is history, I could not be happier with the results and support I received over time. They will teach you on how to enjoy the success rate of 90 plus percent of profitable trading with a thoughtful methodology and a plan of execution.I am sold for life. Keep up the great work everyone.Thank you,Steven Hollosi
John Boulet
John Boulet
04:48 30 Sep 18
GREAT CONFERENCE !It became much clearer to me that options can be used to hedge risk AND be profitable at the same time.Would highly recommend Options Animal to anyone looking to improve their trading!
EJ Esposito
EJ Esposito
20:12 28 Dec 20
I decided to become a lifetime member of Options Animal. The courses they have are very detailed and really answer the questions I have. If you find that you still have questions, you can reach out to the instructors for additional clarification. Also the courses are updated all the time so they discuss what the current state of options are, which is great! Im excited to continue my Options journey with Options Animal!
Stephen Sorrick
Stephen Sorrick
20:36 29 Sep 18
The presentations were all highly informative.
Brett Johnson
Brett Johnson
21:39 12 Oct 18
am new to Options Animal since March of 2018 although I have traded options since 2011. While I am only half way through the curriculum, I find the content, instructors, and methodology invaluable. I very much appreciate the new view to trading that Options Animal provides, so much so I am considering migrating from a mix of stock investor and options trader to a pure options trader given the risk management and increased trade success taught at Options Animal.
17:25 11 Sep 18
I have spent many years and thousands on training and advisory services before taking the Options Animal training and can only say that I could have saved thousands of dollars of losses from my account and a lot of frustration had I chose them in the beginning.
Bailey Pate
Bailey Pate
00:17 18 Sep 18
OptionsANIMAL has been awesome thus far. Great course material with teachers who are willing to help you through it if it doesn't make sense. A worthwhile investment!
Bruce Mazzare
Bruce Mazzare
05:09 07 Sep 18
Excellent course with a complete follow up & support system to insure learning !Thank you
Merlin Andrews
Merlin Andrews
16:27 05 Nov 17
By far the best educational source for options trading that I have found in my 4+ years of learning. An incredible amount of information, education, and support - worth every investment penny for anyone serious about learning options trading. The most helpful, passionate, and skilled instructors - all with different perspectives that make it easy to find your own path instead of getting told what your path should be.
Hal Maughan
Hal Maughan
03:17 08 Sep 18
Great info and very helpful
Howie Agster
Howie Agster
19:14 21 May 19
Webinars have great examples of a superb strategy trading options. First in money management and trade adjustments limiting losses. My choice for learning from the best.
Pam JB
Pam JB
22:00 17 Sep 18
Great program! The classes are very thorough and methodical and take you from beginner level all the way through advanced option adjustments. There are dozens of live classes every week, but you can also choose to watch recorded lessons from your favorite instructor. The mid-week and weekly market forums are a great place to get a truly unbiased review of the current market conditions and the monthly trader forums are a great resource to learn how the instructors are managing their personal trades. I'm looking forward to attending their two-day live seminar in Utah next week.
Shawn C
Shawn C
18:00 15 Jan 17
Robin Pfeil
Robin Pfeil
20:47 14 Sep 18
This was a great review of basics, with a substantial amount of more advanced information. It was a solid day of education with very minimal fluff. A worthy use of the time.
18:13 15 Jul 19
Susan Taylor
Susan Taylor
15:53 27 Apr 20
Options Animal is a very honest company. They will work with you if you need help.
Jim Hores
Jim Hores
19:54 10 Jun 19
I found this to be an outstanding program - in-depth knowledge you cannot find anywhere else and the staff is always very supportive. I give it an A++.
Scott Walz
Scott Walz
16:43 02 Dec 20
Options Animal has been great to work with. There are many trainers to work with who have different styles of teaching and trading. I have found several that I like and learn from. The training they gave me has benefitted me so much that the gains I have made in my trading account has more than paid for my subscription to the lessons. Love this company and their trainers!
James Diehl
James Diehl
21:08 18 Jul 19
My wife and I have tried other on line trading academies and were not impressed with them at all. We became very frustrated to the point of almost giving up the idea of ever being able to learn how to trade options. We heard about Option Animal and decided to give it one more try and we are glad that we did. We were immediately impressed with the entire program. The lessons, both live and archived, are easy to follow and very well done making it simple for even the most novice trader to understand. The instructors are extremely knowledgeable and offer personalized attention when needed. We highly recommend Option Animal if you are serious about learning how to trade options.
Brian Hores
Brian Hores
13:59 11 Jun 19
A well structured curriculum to master the intricacies of options trading. Archived sessions allow you to go at your own pace and review areas of weakness. Live classes with instructors are interactive with a chance to ask questions. The teachers are great with helping to clarify issues and help you succeed. Following he Options Animal 6-step process will lead to trading success. The tuition is worthwhile compared to paying the school of hard knocks. I haven't mastered everything but am a much more confident and profitable trader.
Karim Lopez
Karim Lopez
19:40 29 Oct 20
Guys.,, I´m enchant, the learning is being great, I personally have to tell you that the return on investment was in 4 weeks, I´m so happy I feel blessed that I found options animal. Eric, Karen Jim, Joe, Charan, all instructors are great and easy to work with it.thanks for changing my life as an investor, I had 22 years as an investor and this by far has been the best of best learning experiences.RegardsKarim
John Daggerhart
John Daggerhart
15:56 14 Sep 18
Fantastic accredited education! The courses are worth every penny. If you're serious about trading options, then Options Animal is a must. Great customer service and the one on one guidance is exceptional. Go for it!
Charlie Gray
Charlie Gray
23:27 10 Sep 18
I have had a wonderful experience working with the instructors from the community and working with Zack and Warren. What I like most about OA is that when you have a question about any option the instructors are able to answer any question they are well versed and understand the material, also other people from the community sometimes will pitch in and offer some answers. If anybody wants to learn about options The Animal is the way to go. Thanks guys Student Charlie
Dana Podliska
Dana Podliska
03:41 18 Dec 18
Before joining OA, I had only traded equities and it was suggested to me to get into options. After watching tons of YouTube videos about how easy it was to make money using options, I felt that I was missing something. After some research into different option services I choose Option Animal and believe it was the correct choice for me. Through the teachers at OA and many hours of classes that they present, I feel like I am getting the knowledge and answers where all my other sources fell short. I am confident that after completing the courses I will have the knowledge necessary to trade successfully.
Trask Messinger
Trask Messinger
12:57 05 May 19
thank you - very professional and informative Summit
John W. Tompkins
John W. Tompkins
19:18 10 Sep 18
Becoming a lifetime member of Options Animal was a great decision. The demands on my life do not allow me to schdule regular classes. With the flexible curriculum that OA offers, I am able to stay on top of my OA education, practice trade when time allows, and remain an active member of the OA community. You owe it to yourself to investigate the OA 6 Step Method, it will change the way you look at your financial future.
Rick Kingbury
Rick Kingbury
00:43 24 May 19
This training is so thorough and with the archives I can go thru a particular section until it sinks in and then I get that "ahah" moment when I really understand it. Great training. Rick Kingsbury
Thom Ianniccari
Thom Ianniccari
18:07 29 Oct 17
Great education and support to learn to earn. I have done a lot of investing education and this is one of the few systems that gets a gold star.
Kevin Goodwin
Kevin Goodwin
21:41 07 Jan 19
Dino Johnson
Dino Johnson
04:45 04 Jul 18
Great instructors! You want to learn how to trade options this will give you a solid foundation! Met the owner Greg at a trading summit in Seattle and really enjoyed his approach to teaching option trading. I am a life time member.
Robert Brown
Robert Brown
00:24 15 Nov 18
It is legit with certified courses and tax incentives.
Peter Schulz
Peter Schulz
16:07 05 Jun 20
This company is for real! The education is top-notch and can help you whether a beginner or a seasoned veteran looking for new approaches. If you are looking for the resources you need to add options trading to your investing, I can't imagine a better place to get it. The community is amazing and supportive, the instructors are great, and the site has endless archives to go through. Following along with experienced traders as they identify, make, and then adjust trades really drives the lessons home. I wish I had joined this 10 years ago.
John Daggerhart
John Daggerhart
19:30 24 Nov 18
Very straight forward solid education. No get rich quick B.S. Learn, follow, prosper!
DiVerge Fitness
DiVerge Fitness
17:35 22 Dec 18
Great service for learning the correct way to trade options.
Jonathan Nelson
Jonathan Nelson
15:31 04 May 19
Very well put together. Informative. Pleasent community.
Alphaeus Timiebi
Alphaeus Timiebi
17:07 06 Jul 21
Trade with MRS Sherry Murphy and her company and have a wonderful trading experiences where your money is rest assured and your profit is very easy to withdraw.. I just made another withdrawal and I think it's worth testifying. Contact her
[email protected]
WhatsApp :+ 13153028128
Edward Parker
Edward Parker
01:44 22 Dec 20
I took the plunge with OptionsANIMAL because I was tired of "running in place" with my options trades. I'm just getting started with the Level 5 classes, and already my trading results have improved, substantially. The amount of training material that is available is incredible. If you take the time to actually study the material your trading will never be the same.
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