About Sweet Premiums
Welcome to my blog which is all about collecting sweet premiums by selling options, using various strategies.
This is a trading journal where I will post my actual trades and my thinking behind those trades so that you can follow along and be entertained by my ups and downs!
I'll break down the components of options trading into actionable information, ensuring that you can grasp the key principles and apply them to your own trading journey.
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Disclaimer: The information provided on our blog is for entertainment purposes only and should not be considered financial advice. Trading options involves risks, and it is important to conduct thorough research and consult with a professional financial advisor before making any investment decisions.
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The Boat
Verified money sink and motivator
One of the driving forces behind my trading is the lovely vessel you see here. She's not cheap, and writing options makes ownership possible.
The Broker
Interactive Brokers
I use IB because they are cheap and give me easy access to lots of markets. I'm pretty happy with $3 for an option trade. Not a big fan of the interface, but you get used to it.
The Cash
The raw materials needed to produce premiums
There's no nice way to say this, but you're going to need some cash to get started. How much exactly, varies quite considerably. Your bare minimum here I think is $1000 - and you're not really going to make money trading that. You're basically paper trading, but you will get a feel of how it all works. I'm not a fan of paper trading, as it does not invoke your emotions, and trading is about managing your emotions. Only ever trade with amounts you can afford to lose.