He soon discovered that the going was tough as he continued to make the same mistakes countless times. One of the major blunders that Bernie made was not following management principles.
Schaeffer's Investment Research Review adds that Bernie continued trading in the s but still making numerous mistakes. However, as time progressed, Bernie strongly felt something was missing regarding options investors' methods. He believed that the technical and fundamental analyses of the stock market weren't enough to know the right time to buy and sell options to make a profit. From these books, Bernie got inspired to develop a novel approach to analyzing the stock market: the Expectational Analysis.
Timer Digest , which has been monitoring Mr. Schaeffer since , consistently ranks him among the top ten out of analysts for intermediate market timing.
He is the recipient of the Trader's Library Trader's Hall of Fame Award for his numerous contributions to the field of trading. In , Aaron Task of TheStreet. Bernie's Articles. Today options are traded on 12 exchanges in virtually the same manner that stocks are traded on stock exchanges. Plus, options investors have protections analogous to those traditionally enjoyed by stock investors. And options are now fully fungible, which simply means that an option buyer can turn around and sell his or her contract on the options exchange at any time up to and including the date that it expires.
When I look back over the past several decades of providing advice and analysis to investors, there are a number of accomplishments of which I am particularly proud. Toggle navigation. Schaeffer's Volatility Scorecard. Featured Publication. Trading Analysis. Stock Options. Trading Education. Market News. Daily Market Newsletters. All Trading Services. Most Popular Services. Directional Trading. Advanced Trading Alerts.
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Midday Market Check : midday check-in midday check-in. Market Recap : after the market close after the market close. In , there are now nearly 3. This year, 39 million options contracts change hands — on average — every day. A record was set in January for all-time options trading volume in a single month, with million options contracts. Additionally, the single-day options trading volume record was also set in the first month of this year, with 60 million options contracts changing hands on January When I took the leap of faith in the options industry back in '81, I truly leaped into a field of exponential growth over the next 40 years.
I believe that two major factors have helped drive this explosive growth in options trading. Today's investor is increasingly aware of the benefits of adding an options trading component to their investment arsenal. Most investors are attracted to options because they can be used as a cheap, leveraged vehicle to profit handsomely from the movement in equity.
But, options can also be used to protect a portfolio from a major decrease in value or provide additional income. These more conservative uses are attracting more and more attention in an increasingly nervous investment environment. Second, the equity options industry has moved out of the back rooms and into the mainstream.
It wasn't too long ago that equity options transactions were performed for investors by a small group of obscure firms without the benefit of an options exchange. As a result, options tended to be very expensive. Compounding this problem was the fact that the options buyer could not take immediate advantage of the changes in the value of their contract, as its terms could not be exercised until the day the option expired.
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