Episode 3: The Weekly Spread – A Shocking Admission From This Lifelong Options Trader

August 3, 2023

On today’s show: (details for each item are down below the video)

The Embarrassing Reason Jack Became A Lifelong Options Seller
“I don’t make money, I take money”
Why Selling Options Should Be Your Primary Strategy
The Very Specific Circumstances Under Which You Can Buy Options

This week, Jack walked us through his journey to becoming an options seller — something he’s been doing for the past 20+ years with incredible results.

But he also told us that he had a damaging admission. And that admission is, “I, Jack Carter, a lifelong options seller have changed my tune.”

He went on to tell us that under very specific circumstances he is comfortable being on the other side of the trade. Read on to find out more.

The Embarrassing Reason Jack Became A Lifelong Options Seller

Jack told us a story of his early years as a stock broker. He was working far from his home town of Gary, Indiana and wanted to come home for the holidays as a high rolling Wall Street player.

So he went half and half with his stock broker buddy on buying an option that was “a sure thing.” But before he knew it, the option expired worthless and he had to go back home for the holidays with his tail between his legs. (and by bus instead of plane)

“I don’t make money, I take money”

Jack says that being on the other side of the transaction — an options seller — gives you such dramatically better odds of winning that people have compared it to “taking money” instead of “making money.”

Why Selling Options Should Be Your Primary Strategy

Jack listed out the multiple reasons that selling options his his primary go-to strategy:

Money In The Bank – When you see an options chain, it’s not just a list of prices that the option will cost you. If you shift your mentality, it’s also a list of prices that people will pay you to sell them that call or put.
Instant Income – When you sell an option, you get paid instantly
Become the House – Every time an option expires worthless. An option buyer is crying themselves to sleep while an option seller on the other side is laughing all the way to the bank.

The Very Specific Circumstances Under Which You Can Buy Options

But now “The “the income guy” who said never to buy calls or puts is doing it — under very specific circumstances.

He told us that he’s recently gotten data from his analysts that convinced him that when specific conditions are met, it makes sense to buy options. After all, the potential return is astronomically bigger.

He told us that he’s only using money he’s made from options selling, so it’s like playing with house money. He also keeps the trades relatively small.

Remember, when you’re buying options, you need to factor in the potential for losses:

“You can’t get in the ring and not expect to get a bloody nose. What matters is how you handle it.”

As we said on the call, we are trying to keep this a purely educational show — no selling, nothing to buy — just educational content that you can put to use right away.

But a lot of viewers correctly guessed that Jack was talking about his Monster Trades strategy. If you’d like to learn more about Jack’s new program, you can watch here.