159: How To Build An Options Portfolio With Just $3,000
The Option Alpha Podcast
Kirk Du Plessis
4.8 • 1.2K Ratings
🗓️ 24 June 2019
⏱️ 54 minutes
🧾️ Download transcript
Summary
Show notes: http://optionalpha.com/show159
This podcast is a long-time coming but one that needed to be done because we get a lot of questions from newbie traders about how to build an options portfolio with a small amount of starting capital. And while we openly suggest that you really start trading with at least $5,000 or more, as you'll hear me say a bunch in this show, we realize that a good majority of new traders want to start with less. That's why in today's show we'll play "pretend" and assume you absolutely want to start trading with just $3,000.
Inside I'll walk through my though process on building out a portfolio that gives you the highest possible chance of success. We'll cover everything from position sizing, ticker selection, strategies to use, what ranges or targets for setting them up, profit taking and stop losses, and much more. The concepts we'll cover are applicable to any portfolio size so don't think or one second that this show is just for small account traders. If you trade a larger account size you can also pick up a lot of great nuggets of information.
Transcript
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| 0:00.0 | You're listening to the Option Alpha Podcast from Option Alpha.com where we show you how to make |
| 0:06.3 | smarter trades learn how the stock market really works and generate consistent monthly |
| 0:11.2 | income. Now your host and head trader at |
| 0:15.0 | option alpha.com Kirk depluses. |
| 0:20.0 | Hey everyone this is Kirk here again from option alpha working every single week to make this the most popular investing podcast offered online because it's based on one thing and one thing only and that's helping you guys make smarter trades. |
| 0:31.0 | So again, thank you so much for tuning into today's show. On today's |
| 0:34.5 | show we are going to be talking about potentially a little bit of a hot topic because a lot of people |
| 0:39.1 | get started trading options potentially with just a little bit of money so today's topic is going to |
| 0:44.1 | be on how to build an options portfolio with just $3,000 and this is going to be a topic |
| 0:50.1 | that I think is going to be tough to go through because I don't think it's going to be easy to do this but if I had $3,000 to start over with this would be the process that I would use to start building out an options trading strategy, how I would allocate it, what tickers I would choose, the strategies, etc. |
| 1:07.0 | So hopefully if you're a newbie trader or if you are just getting started and you don't have too much money, this might be a very good |
| 1:15.3 | podcast to go through because it is going to help you and kind of the structure and the layout of |
| 1:20.1 | how I would do it if I were to start over with this again. |
| 1:23.0 | So this really comes from the question that I got recently, |
| 1:26.6 | which was, I only have $3,000 Kirk. |
| 1:28.9 | I know options trading could work for me, |
| 1:31.6 | but I need more money or I need to know what to do and |
| 1:34.5 | really kind of like piqued my interest as to saying okay I'm finally got to do this |
| 1:38.2 | podcast I've been like pushing this off for a little while because I really don't |
| 1:42.1 | like talking about this topic in particular |
| 1:44.3 | and I'll tell you why here a second. But if I'm going to talk about it, I'm going to talk about it from my perspective, |
| 1:48.4 | how I would do it if I were to start over again and kind of really kind of lay out the process and framework. The reason that this is |
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