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Old 09-25-2022, 10:06am   #1
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Default Options......stocks

https://secure.jeffclarktrader.com/?...T252010&page=1


I have heard the term 'options' before, but know nothing, so watt do you all think???
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Old 09-25-2022, 10:48am   #2
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Never trusted my money to anyone else. Bought land,gold,silver and lead. Lived below my means never borrowed any money. And retired comfortable in my 40s.
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Old 09-25-2022, 10:55am   #3
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if making money was that easy, everyone would be doing it.

if you want to lose money faster than you can honestly earn it, then yes, trade options. calls, puts.....that's how Mr. Pelosi gambles Nancy's money, but he has a cushion. you don't.

yes, you can make a bunch of money trading options, but you can also lose way more than you have put into the deal so far. your losses can be unlimited.

and if he was really making $$$ trading options, do you think he'd tell you? hell no, he'd make his fortune and disappear.
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Old 09-25-2022, 11:37am   #4
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Not watching that long ass video.
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Old 09-25-2022, 11:59am   #5
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Not watching that long ass video.
i didn't watch it either, but from the context, i knew what he was going to say.

"trade options, no risk, make lots of money"
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Old 09-25-2022, 12:13pm   #6
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Reminds me of the old joke:

Q: How do you make a small fortune day trading?
A: Start with a large fortune.
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Old 09-25-2022, 12:18pm   #7
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Quote:
Originally Posted by Jobaka View Post
Reminds me of the old joke:

Q: How do you make a small fortune day trading?
A: Start with a large fortune.
and don't forget the wash rule, where by you end up paying taxes on money you never made....glorious! the IRS loves that rule.
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Old 09-25-2022, 1:33pm   #8
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Oh look: 80% negative reviews on Jeffy boy.

https://www.trustpilot.com/review/jeffclarktrader.com

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Originally Posted by mrvette View Post
watt do you all think???
I think the OP is about to get fleeced.

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Don't be fooled like I was!

I fell for the pitch but I'm glad I only paid around $200 for the 'starter' program. As soon as you watch the videos you start to get a bad feeling about this program. The current portfolio has 3 or 4 positions and most are down 25% or more. You will get bombarded by SPAM from other hucksters as well and the icing on the cake for me was when Jeff Clark started promoting Teeka Tiwari. This guy has been scamming people since 2000 with his ETF program. Glad I didn't sink more money into this. Be warned...DO NOT purchase anything from Jeff Clark or his associates. Study simple options strategies (covered calls, butterflies, condors, etc.) and don't over leverage and you will do much better for free!

Date of experience: September 07, 2022
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Old 09-25-2022, 1:41pm   #9
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a sure way to get poor quickly is to try to get rich quickly.
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Old 09-25-2022, 7:38pm   #10
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He says hes not buying stocks or trading options.....sounds like a lie,
many people day trade using $100k or more to trade the small swings on volatile stocks.

Say you buy 1000 AAPL at $160= $160,000 & then a little latter it goes to $165. & you sell,
You just made a quick $5000.

You put into jeopardy $160,000. but if it unexpectedly goes down to $145., then you are locked into a losing trade until it recovers.

https://finance.yahoo.com/quote/AAPL....tsrc=fin-srch
Click on 5 day & 1 month to see the swings

This jerk is trying to entice losers that barely have $1000. to become big time stock traders.

Thats why his trades were blurred out, he was using $60,000+ to make that $600. profit.

It takes a lot of time & money & losses to learn the ropes.
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Old 09-25-2022, 8:08pm   #11
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I've been trading options for cash since 1995 when I was 31 years old. I entered semi-retirement at 52, and full retirement at 57. Draw your own conclusions.
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Old 09-25-2022, 8:41pm   #12
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I traded options for about a year a while back. Made and lost lots of money, it was miserable. And my tax return was about an inch thick. I worried for years that the IRS was going to show up at my door to bend me over. I'm not doing that again.
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Old 09-25-2022, 8:50pm   #13
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Invest in series I bonds and call it a day. If you are younger than AAPL when it hits 131 again. 2nd quarter of 2023 wonít be pretty.
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Old 09-25-2022, 9:33pm   #14
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If you have $270,000 to trade & you buy 1000 TSLA at $267= $267,000.
Then it goes up to $290. a few days later, you will have made $23,000.

https://finance.yahoo.com/quote/TSLA....tsrc=fin-srch
Click on 6 month chart

You would have put into danger your $267k & looking at this chart, it would take awhile to recover your investment.
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Old 09-26-2022, 6:07am   #15
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I have been doing the market for 40 years. That was a big reason I could take early retirement from my construction trade. I retired 5 years early with a reduced pension, my portfolio more than made up for it. Now retired for over 20 years!

Note I did not do options my thing is good dividend paying reasonably safe stocks. (I like medical REITs).
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Old 09-26-2022, 6:24am   #16
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Quote:
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and don't forget the wash rule, where by you end up paying taxes on money you never made....glorious! the IRS loves that rule.
This is not true. A "wash sale" occurs when you sell a stock at a loss, buy it back in 30 days or less, but still try to take the loss as a tax deduction.

Example: If you buy 500 shares of XOM for $100 per share, and later the price drops to $50 per share, people used to sell the shares today to take a loss of 500 shares x $50 loss per share is $25,000, then buy the shares back the next day at say $50. They would still have exactly what they had before, 500 shares of XOM, but your "new" shares would have a tax basis of $50 per share.

The IRS said "no" to that, and calls that trade a "wash sale". They say you have exactly what you had before, so from a tax standpoint, you should have what you had before, so they disallow the loss, and recognize you as having a $100 per share basis in your "new" shares.

If you sell at $50, and the next day the price jumps to $60, so you get excited and buy back in, this is still a wash sale, but now your basis will be $110 per share.
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Old 09-26-2022, 6:41am   #17
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Donít put all your eggs in one basket.
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Old 09-26-2022, 8:55am   #18
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Quote:
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i didn't watch it either, but from the context, i knew what he was going to say.

"trade options, no risk, make lots of money"
For the benefit of those of us who aren't smart enough to trade options, can someone explain how a 3-second option trade can result in immediate, spendable cash being deposited into his brokerage account?
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Old 09-26-2022, 9:22am   #19
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Options are not for the novice, you can lose your ENTIRE investment and the fluctuations are gut-wrenching....and there are a LOT of vatiables involved...strike date, covered options, expiration, etc..

Remember SLY (Safety, Liquidity and Yield), if you want to blow $1,500 or so on option play or two you can give it a try, but do it as a lark, not to build a nest egg...

Finally, if some internet huckster is promising to make you a small fortune, make sure you start with a large fortune...
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Old 09-26-2022, 11:15am   #20
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losers? no way!!

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