Option chain explained – How to setup, use, & read an option chain – Options Trading Tutorial – TOS
With Netflix earnings bringing about a huge gain today, I thought this tutorial on options trading is more than relevant. Another in depth Tutorial by one of the awesome options traders at The Trading Fraternity. Brendan explains the option chain and how to setup the options chain using ThinkOrSwim (TOS). Brendan goes in depth on how to setup the options chain and what everything means from the bid and ask, all the way to the deltas, open interest and expirations. Given all these things are crucial to options trading, it is vital you understand all the concepts at hand not only so you know what you are doing, but also so you don’t make any mistakes, especially if you are trading with your hard earned money. Again, that is why we always recommend you paper trade, play around and familiarize yourself with the trading platform before trading live. Mess around with the chain and fully understand how to use it, set it up, navigate, and read/interpret what is before you.
There are a lot of things on the platform to use and a lot of things you need to know and educate yourself on if you want to trade options successfully. Understanding the platform and the basics of how an options chain will serve as the fundamentals of learning because this is where you will be looking for options to buy and placing your options trades. I suggest you guys go through the video slowly, take notes and ask me any questions or things you do not understand. Though it may seem intimidating at first for new traders, once you get the hang of it and understand everything, you will see how intuitive options trading is, there is just a high learners curve.
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