OptionBit

is creating high probability, good risk/reward option trade ideas.
Welcome to my Patreon page.  What I am offering here, are two products I developed to streamline and accelerate the process of finding actionable trade ideas.  The reports are the result of processing over 500 stocks and ETFs after the market closes. This involves systematically applying the general strategic rules taught by Tasty Trade, to various strikes and widths to determine the best possible trade ideas each day.

To give you an appreciation of how the reports benefit me, I'll quickly provide an overview of my approach to trading.   

MACRO BIT

My trading style starts with a global macro opinion on what direction the world economies are heading, and where the risks are. I fast track this with a subscription to REAL VISION, which I highly recommend. 

SECTOR BIT

The next stage is building an opinion on the market sectors.  This is where OPTIONBIT- Sector Insights saves me heaps of time. At a glance, it shows the percentage returns of each sector over 1 year / 3 months / 2 week time frames.


The circle buttons are used for navigating to a specific sector page for more details and trade idea overviews.


The charts on the right show the Monthly / Weekly / Daily prices of the sector, along with some relevant indicators.  Once I've chosen the high level direction I want to take, I can use the charts on the left to find the max profit, max risk, averaged over the various option strategies for each relevant stock in the sector.

This immediately identifies the instruments where you can find high probability, good risk/reward setups, whether you want to be long, short, or neutral.

STRATEGY BIT

Once I have identified a stock of interest, the OPTIONBIT - Strategy Insights report provides the details on each relevant strategy available. 



Green lines are long positions, red lines are short positions, and blue lines are neutral positions. 

TRADING BIT

Once I see an idea that I like, I head over to my favourite trading platform to see what price I can get, and place the trade.



RELEVANT STOCKS

To identify the relevant stocks, the OptionBit program goes through over 500 of the most liquid stocks and:

  • Calculates the mid-price of calls and puts at every strike.
  • Determines the POP, credit received/debit paid, and max risk for various strategies.
  • Adjusts the strategies to various deltas to find the best position.
  • Adjusts the widths of the strikes to find the best position.
  • Limits undefined risk strategies to ETFs, to avoid unnecessary risk with individual companies.


The rules that define a good position have been aligned with the Tasty Trade methodology and include conditions such as:

  • Strangles that receive at least $100 credit, with strikes wider than the expected move.
  • Jade Lizards where 70% of the credit is from the short put.
  • Ratio spreads that sell for a credit to gain protection on one side.
  • A POP of at least 70%.
  • Debit spreads with a POP > 50%.
  • Max loss of $250 for credit spreads, and undefined risk positions assumed to be 2x the credit received.

A free copy of my strategy cheat sheet, which explains the ideal conditions can be found below, no strings attached.
OPTIONBIT - Strategy Cheat Sheet

FINE PRINT

The OptionBit reports have been developed in Google Docs, so please sign up with an email address that is linked with Google Docs, so I can easily share them with you.

Happy trading!


Tiers
Strategy Insights
$5 or more per month

Every relevant long/short/neutral trade idea updated daily.

Strategy Insights + Sector Insights
$10 or more per month

Strategy Insights report detailing all the trade ideas, and also the Sector Insights report that summarises the trades by sector, to help build your portfolio from a smarter macro perspective.

Welcome to my Patreon page.  What I am offering here, are two products I developed to streamline and accelerate the process of finding actionable trade ideas.  The reports are the result of processing over 500 stocks and ETFs after the market closes. This involves systematically applying the general strategic rules taught by Tasty Trade, to various strikes and widths to determine the best possible trade ideas each day.

To give you an appreciation of how the reports benefit me, I'll quickly provide an overview of my approach to trading.   

MACRO BIT

My trading style starts with a global macro opinion on what direction the world economies are heading, and where the risks are. I fast track this with a subscription to REAL VISION, which I highly recommend. 

SECTOR BIT

The next stage is building an opinion on the market sectors.  This is where OPTIONBIT- Sector Insights saves me heaps of time. At a glance, it shows the percentage returns of each sector over 1 year / 3 months / 2 week time frames.


The circle buttons are used for navigating to a specific sector page for more details and trade idea overviews.


The charts on the right show the Monthly / Weekly / Daily prices of the sector, along with some relevant indicators.  Once I've chosen the high level direction I want to take, I can use the charts on the left to find the max profit, max risk, averaged over the various option strategies for each relevant stock in the sector.

This immediately identifies the instruments where you can find high probability, good risk/reward setups, whether you want to be long, short, or neutral.

STRATEGY BIT

Once I have identified a stock of interest, the OPTIONBIT - Strategy Insights report provides the details on each relevant strategy available. 



Green lines are long positions, red lines are short positions, and blue lines are neutral positions. 

TRADING BIT

Once I see an idea that I like, I head over to my favourite trading platform to see what price I can get, and place the trade.



RELEVANT STOCKS

To identify the relevant stocks, the OptionBit program goes through over 500 of the most liquid stocks and:

  • Calculates the mid-price of calls and puts at every strike.
  • Determines the POP, credit received/debit paid, and max risk for various strategies.
  • Adjusts the strategies to various deltas to find the best position.
  • Adjusts the widths of the strikes to find the best position.
  • Limits undefined risk strategies to ETFs, to avoid unnecessary risk with individual companies.


The rules that define a good position have been aligned with the Tasty Trade methodology and include conditions such as:

  • Strangles that receive at least $100 credit, with strikes wider than the expected move.
  • Jade Lizards where 70% of the credit is from the short put.
  • Ratio spreads that sell for a credit to gain protection on one side.
  • A POP of at least 70%.
  • Debit spreads with a POP > 50%.
  • Max loss of $250 for credit spreads, and undefined risk positions assumed to be 2x the credit received.

A free copy of my strategy cheat sheet, which explains the ideal conditions can be found below, no strings attached.
OPTIONBIT - Strategy Cheat Sheet

FINE PRINT

The OptionBit reports have been developed in Google Docs, so please sign up with an email address that is linked with Google Docs, so I can easily share them with you.

Happy trading!


Recent posts by OptionBit

Tiers
Strategy Insights
$5 or more per month

Every relevant long/short/neutral trade idea updated daily.

Strategy Insights + Sector Insights
$10 or more per month

Strategy Insights report detailing all the trade ideas, and also the Sector Insights report that summarises the trades by sector, to help build your portfolio from a smarter macro perspective.