Step-by-Step Tutorials

Practical step-by-step guides for successful options trading.

Buying Your First Option

30 minutesBeginner
1

1. Open and verify broker account

2

2. Enable options trading (knowledge test)

3

3. Deposit capital

4

4. Select underlying asset and strategy

5

5. Choose option (strike, expiration)

6

6. Place and confirm order

Selling a Covered Call

45 minutesIntermediate
1

1. Buy 100 shares of the underlying asset

2

2. Select call option with strike above current price

3

3. Set expiration (typically 30-45 days)

4

4. Place sell-to-open order

5

5. Premium is credited immediately

6

6. Monitor position until expiration

Setting Up a Broker Account

1-3 daysBeginner
1

1. Select broker (see Broker Comparison)

2

2. Complete online application

3

3. Verify identity (VideoIdent/PostIdent)

4

4. Provide financial status and experience

5

5. Apply for options trading

6

6. Account is opened (1-3 days)

Important Tips for Beginners

Education First

Learn the basics before investing real money. Use demo accounts to practice.

Start Small

Start with small positions and increase them gradually with your experience.

Trading Journal

Document all trades to learn from mistakes and repeat successes.

Risk Management

Never risk more than 2-5% of your capital in a single trade.