Force behind OptionGig
Hi, I’m Vivek Somani, a full time professional in the software industry and a part time options trader. I have been passively investing in stocks and ETFs for more than 15 years.
During the mid 2010s , while markets were making all time highs, I also started to worry about impact of the next downturn on my portfolio. My portfolio had accumulated paper gains during the long un-interrupted bull run. Having lived through the financial crisis of 2000 and 2008 , I had seen paper profits evaporating in a flash. So wondered what should I do.
It was a catch-22 situation for me – whether to stay invested and risking it all during next downturn, or, chicken out early and have seller remorse about missed opportunity in case market continues to move up. I wondered if there was any other way to protect my portfolio other than early exit, so I started researching about it, and I came across options trading. I really liked the fact that options trading provided us with trading strategies, for any type of market condition – bullish, bearish or neutral.
When I initially started options trading with an intent to protect my existing portfolio, I quickly realized that options trading could also generate consistent income, month after month, and grow your portfolio in the long run. The idea of earning income through options trading while enjoying the sunshine on the beach, while sipping a pina colada, was too tempting to pass on, so I was hooked to it.
Misconceptions around options trading
When I discussed options trading with my friends and colleagues, I was met with skeptical looks. It surprised me that everyone was scared of it, and thought that options trading was only for seasoned, institutional traders, and not for common retail investors, or traders, and definitely not for folks like me, who have full time job to manage everyday.
I am sure that many of you have had similar experience because there are many misconceptions around options trading. Lack of good education for part time options traders, is primarily the reason why retail investors do not understand options trading and shy away from it. The internet is filled with paid option courses from,”self proclaimed gurus,”whose only motive is to sell worthless option education material for hundreds and thousands of dollars. It is difficult for retail investor to find good quality education material on options trading
I have spent thousands of hours in learning options from multiple sources, and I had to learn it the hard way. Most of the genuine content is for traders, who are primarily interested in trading options full time. The trading methodology, trading ideas needed too much of baby sitting. None of the content was customized for “busy professionals,” who have full time day jobs and options trading is their additional part time gig.
That was my light bulb moment and OptionGig was born. OptionGig was founded to bridge this education gap for retail investor who want to generate income while working full time in their job or business. It was my way to give back to the option trading community, and to help busy professionals navigate the intricacies of options trading.
At OptionGig, you won’t find recommendations for a book with hundreds of pages or lengthy articles to consume, nor will you be inundated with complex Black Scholes option pricing formula. Instead, you will get byte sized pieces of practical advice or strategies that you can apply to your portfolio.
Lastly, I want to make it clear that options trading is not a “get rich quick without much effort,” game plan. It is a slow and hard journey to learn and apply option trading strategies to build a strong portfolio. At OptionGig, my intent is to make this journey easier, by separating the grain from chaff, and reduce your ramp up time to learn options trading
All of the education material on OptionGig is free and it will always be. I hope you will find the content useful.
Be generous in your feedback. We are always listening.
Twitter : @VivekChirps
Quora : Follow me here