The following is an outline of the course content

Module 1: Understanding your options

  • Recorded Lesson 1: We will first define the contract features of a call and put option.
  • Recorded Lesson 2: Understanding the profit and loss profile of call and puts through pay-off diagrams will enhance the quality of your decision making.
  • Recorded Lesson 3: The Greeks and diagonal spreads.

Module 2: Why diagonal spreads work best with SPY Weekly’s

  • Recorded Lesson 1: We start with a quick tour of OptionVue 8, the most powerful options analytical package available to retail traders.
  • Recorded Lesson 2: We will give you a complete insight into why diagonal spreads are the right spread to use with SPY weekly’s.

Module 3: The Directional Trigger

  • Recorded Lesson 1: All trades that have a directional trigger dramatically increase the probability of having a successful trade. We will examine institutional buying and selling behaviour as a primary indicator of direction.
  • Recorded Lesson 2: In this section we will show you how to set up the tools that give timely entry and exit signals.

Module 4: Rules of price movement

  • Recorded Lesson 1: Diagonal spreads are traded in the context of an expected range of price movement. In this section we will define maximum historical weekly price range for the SPY.
  • Recorded Lesson 2: The correct selection of strike price and its positioning away from the market will greatly enhance your chance of a successful trade. We will illustrate the importance of positioning call and put spreads differently and justify why.

Module 5: Position Sizing and Stop losses

  • Recorded Lesson 1: Carefully calculated position sizing is the key to strong account growth. We will show you the most profitable and dynamic method.
  • Recorded Lesson 2: Order placement with Interactive Brokers (IB). We will demonstrate how to easily place a spread order.
  • Recorded Lesson 3: Placement of a stop loss on a spread must be done correctly to minimise loss and maximise profit. It’s called a contingent order. We will demonstrate using the IB platform.
  • Recorded Lesson 4: Stop loss placement – where and why?

Module 6: Back Testing with OptionVue 8

  • Recorded Lesson 1: Testing and verifying the methodology will let you build the confidence and experience to get started in real time. Back testing is about training your brain to correctly interpret indicators, resulting in high quality decision making.
  • Recorded Lesson 2: Recording your performance.
  • Recorded Lesson 3: Case study – put entry and exit.

Module 7: Exercise 1 review

  • Recorded Lesson: We need to review results from Module 6. This is a one-on-one session with Paul Wise. In this session I will answer all your questions about the strategy and review your back tested results. We will schedule a one-on-one session together using GotoMeeting.

Module 8: Reserved time block

  • Reserved one-on-one session if required.

Supplementary resources

  • OptionVue 8 – 16 recorded help lessons.