First Full Review of Options Bootcamp

• stevenplace
• March 30th, 2009

If you haven’t yet heard, I released Options Bootcamp, a video primer into the nature of stock options. I’ve had a couple customers give me a lot of great feedback either through twitter or email, but this is the first “all out review” that I’ve received for OBC. It’s from UrbaneGorilla, one of the early adopters for the video product. I’m going to post it in its entirety so you don’t feel like I’m just pulling the good from the bad. The review can also be read here.

Review of @stevenplace ‘Options Bootcamp Video’ :

If you haven’t checked out Steven Place’s weekly ‘Happy Hour’ and have any interest in options, you should. It’s a good-natured, free-wheeling hour of charting, options and drinking. However, if you are a novice to options, sometimes you lack the basic knowledge to understand what he covers. This $35 video not only provides newbies with an understanding of options, but fills in the blanks for those of us that have actually bothered to read books on the subject and still don’t get it. (I have read a couple of generic ‘How to make Millions with Options’ style books as well as more studied books, such as ‘ Option Volatility and Pricing’ by Sheldon Natenburg, as well as endless articles on the subject.

ThinkorSwim’s software is used to demonstrate the video. (It is fully functional, free and well considered.) He takes you step by step and explains how to initiate a ‘simulated trade’, analyse risk and probablilty and view the skews. Although the video only covers basic strategies and does not get into ‘Iron Condors’, ‘Calendar Spreads’ and other more advanced strategies, it does provide the viewer with an explanation of ‘why‘ options move the way they do, ‘why’ volatility is important, ‘what’ the greeks do, ‘how‘ it affects price going forward, and the effect of time and volatility on ‘extrinsic value’. At the end of the video, he provides a ‘Beat the Market’ diagram. This chart is something I’ve never come across in an options book. In essence, it’s a roadmap to the best option strategy when stock direction changes and which basic option strategy to use when that happens.

There is only so much you can pack in a one hour video, but I would have liked to have seen him use the TOS ‘charts’ to explain entries and exits more clearly as he does on his weekly broadcast. I also would have liked to have been able to print out a PDF cheet sheet (for note taking) and have had the video broken up into chapters. But these are minor issues. The video is great value. No rest for the weary. He needs to start work on the follow-up “Intermediate Options”.

Do note that Options Bootcamp is an iterative product, so if you buy it now and I add onto the video, then you will receive the new version free of charge. At a cost of only $35, you’ll definitely get a return on investment.

You can get a copy of Options Bootcamp Here

Oh, and the “Intermediate Options” product he is requesting… It’s coming.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

Tickers: optionsbootcamp

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