Well, hello, everyone. Welcome to Getting Started with Options. My name is Barbara Armstrong. I' m a coach with Schwab. And today we' re talking about a strategy that I originally never would have thought that I would have ended up talking about. And what is that strategy, you might ask? It' s a protective put. And when I first heard about this strategy, the idea of buying a put to protect a position, I thought, haven' t you guys heard about stop losses? And then, you know, in a stop loss order is free, and a protective put is not. But before you think, oh, protective puts, I' m never going to use those. I m going to go, you know, clean out the cat litter or something equally exciting. Maybe go for a walk or golf instead.
I implore you to stay because I think that you' ll be glad you did. I' m a reformed lover of protective put. So that' s what' s on the menu for today. I thank you for being here. If you are not already following me in the land of Twitter, I hope that you will join the club and follow me. My handle is barbarmstrongcs. Just know that I will never reach out to you and offer you a Bitcoin or a crypto deal. I will never reach out to you and offer you private education. I will never reach out to you to trade your account on your behalf. Those are four common scams that have been pitched to my followers when someone is pretending to be me. So if somebody reaches out to you, please take a screenshot.
Somebody sent me two more, you know, Barb Armstrong wannabes yesterday. So be careful out there. But we are, I can speak honestly. You know, I am posting content that I think you' ll find helpful and informative on a daily basis. And I' d hate you to miss out on that. Okay. So just before we get into the thick of things, I want to remind you that options do carry a high level of risk. They aren' t suitable for all investors. You have to meet certain requirements in order to trade options through Schwab, and not all will qualify. We use the paper money software application on the thinkorswim desktop platform. And it' s for educational purposes only. It looks like, smells like, feels like real money.
But there are some nuances and differences between the platform, the live account platform, and the paper money platform. And I' ll point those out as appropriate. But this is a great place to practice and make sure that you understand a trading strategy before you trade it, that you understand how the platform works. So it' s a wonderful place to practice. We are going to look at some live examples today, but know that they are for example and informational purposes only and not to be construed as a recommendation. What are we going to do today? So what' s on the menu specifically, we' re going to look at what a protective put is, then why a trader might consider using it and when a trader might consider using it.
And we' re going to look at: should they decide to use a protective put, you know, what the entry signals might be, what expiration date they might choose and why, and what strike price. We' re going to discuss trade management, exit strategies. I' m going to compare it to using a stop loss order because that was the battle I had to go through in my head before I could embrace this strategy. And then we' re going to play some example trades. And we' re both going to, you know, buy a stock and sell a protective put at the same time. That' s called a married put. And then we' re also going to look at some current positions in an example portfolio and add a protective put. Okay.
So as somebody mentioned that they are looking forward to Times Square and I am actually covering for Cameron May at two o' clock Eastern today, getting started with technical analysis. And I' ll show that slide then, but we' re going to be in Times Square. This Saturday for a market drive event. And it would be wonderful if you could join us then. David, I hope you' ll come up and introduce yourself. I' d love to shake your hand or give you a hug or it would be neat to get to meet some of you guys who are on the other side of the screen in person. The following weekend, we will be in Washington, D. C. I will not be at that event, but Ben Watson will.
And I' m not sure if it' s Cameron May or Connie Hill, but I' m sure it' s Cameron May or Connie Hill. Yeah. So you' re welcome to join us there as well. Yeah. We' ve got Brett Crowther helping in the chat today. It' s great to have him on board. He does understand this strategy inside and out. So if you have any questions, don' t hesitate to ask. So Ray is asking why this isn' t a collar. And that' s a good question. This is an introductory level class. And so that' s part of the reason why. I' m just taking two introductory- level strategies and putting those together. And, you know, time, if time permitting, I' ll give you an overview on that.
But I want to thank those of you who are here with me live today for helping bring this class to life. So to Murali and Sandeep and Greg and Ray and Michelle and TM and Boss and Marcus and the rest of the gang, thank you all for being here. I really appreciate it. If you' re joining us for the very first time, feel free to type a greeting into the chat so that we can welcome you. Okay. So let' s get on with the show. What on earth is a protective put? Well, a put, when we buy a put, which is what a protective put is, it gives us the right to sell the underlying stock at a specific price. So I' m just bringing out my drawing tool here.
So it gives me the right, but not the obligation, which means I have the choice. I' m in the driver' s, you know, position here. It gives me the right to sell the stock at the strike at any time up until the expiration. And so, you know, what makes this a protective put? Well, if we own shares of the stock, and it' s typically 100 shares or 200 shares, you know, a round number, because each put protects a hundred shares of stock. When we purchase, when we buy a put to protect the stock in case it falls significantly, you know, and so just because I am such a visual person, let' s say we have a stock and we bought it and it' s been going up and maybe pulled back a little, and it started to go up again, and it pulled back a little, and it' s moseying on up the hill.
And we' re going to buy a put to protect the stock in case it falls significantly. We' re pretty happy, right? This stock has done well for us. And then we see this little blue circle on our chart, which means that earnings is coming up. Well, maybe we bought the stock here and we have a really nice profit and we' d like to protect that profit. And so what some traders will do is they' ll say, you know what, I' m going to give this enough room to breathe just in case it falls. And then we' ll buy a put to protect the stock in case it falls. It pulls back a little bit, but I am going to buy a put right here. And let' s say
earnings is October 30th or October 31st. We' re going to look at an example where earnings is October 30th or October 31st. I' m going to buy a put that expires the Friday after that, so it expires November 1st. And I' m going to buy a put that expires the Friday after that, so it expires November 1st. And let' s say the stock is currently trading at maybe $160. I' m going to buy a put at $155. And what does that mean? It means that no matter what, you know, I now have the choice if this stock, if it' s trading currently at $160, let' s say after earnings, it gaps down and it opens down here at $140.
Well, I can then exercise my right to sell the stock at $155 up until November 1st. And we' ll talk about this in more detail. Okay, okay. So, you know, what is our outlook? Well, I would say this is really a bullish strategy because we own the stock. But what we' re concerned about is a short-term bullish move in a long-term position. So we' re going to sell the stock at $150. And we' re going to sell the stock longer term uptrend or that, you know, all of a sudden this bullish uptrend may come to a screeching halt and we don' t want to get caught out. Okay. Does that make sense? If you have any questions, don' t hesitate to type them in.
If you' re watching this in the archives, by the way, as the majority of people do, you too have a voice. You can just easily type a question into the comment section down below. And I do check, though. So, what else might we want to think about? Well, buying a protective put, like we' re buying something. That is not free, my friend. So, you know, we' ve got to pay something for that put that we' re buying. Let me just erase this. So, you know, we' ve got to spend some money. I' m having drawing tool issues today. So when I buy that put, it costs some money. And the goal, actually, what we would be really delighted with is if this stock came, we came to this little blue circle here and then it gapped up.
Well, what would happen to the value of our put if that happened? Our put would lose, like, let' s say we paid $2 for that put. It expires November 1st. So if earnings is October 3rd, we' re going to have to pay $2 for that put. This is going to go down in value very quickly. And this $2 is going to become worth maybe a nickel, you know, maybe a dime, you know, and if it gaps up and, you know, are we going to be crying the blues? No, we are not crying. We are going to be happy because this has gone up. As long as it goes, goes up more than $2, you know, we' re good to go.
And I kind of likened it to, you know, I don' t know, I don' t know, I don' t know, I don' t know, you know, using a protective put, if I were to go to Paris for Christmas, let' Say, you know, I might buy a short-term plan to cover me in the event that I slipped on some ice and broke my arm. Now, do I want to slip and break my arm? No, I want to come back with all my body parts feeling about the same, you know, and that short-term policy that I purchased, what will happen to that? Well, it' s going to expand. It' s going to expire worthless. Am I still happy I bought it?
Yes, because I wanted that coverage just in case I ended up with a concussion or a broken arm, but I' m not going to ask for a refund because I didn' t need to use it. So that' s what it' s really designed for. And so what we want to be aware of is upcoming events. So, we might not want to buy a policy that' s priced to be a short-term thing. We just want it to cover us for that upcoming event. And that might be earnings. It could be a big product announcement coming up. It could be an FDA approval or non-approval of a drug, something like that. And when volatility is high coming up to earnings, premiums tend to be high.
And so we tend not to want to buy more time than we need. So, you know, it' s going to cost us more because we' re coming into earnings, you know, and the time value, it' s going to decrease as expiration approaches. And also once earnings happen, so there S volatility is rising as we come to earnings. And then it' s like this balloon and they call it a volatility crush. So after the earnings event happens, we know what happened and then volatility falls. And that means the value of the option falls. And we know that going in. Okay. Yeah. Yeah. Okay.
So what' s the advantage of a put? Well, it provides some protection in the event that we need it. We' re hoping, you know, the, you know, and I know I say ' hope' is a four-letter word, but our expectation is that we' re not going to need it. Why do I say that? Well, I' m saying that because if we really thought the stock was going to tank, we might sell the stock, right? So, but it provides some downside protection over an event and it allows us to set a, you know, a floor price at which we know we can get out, you know, and it doesn' t require the equity position to be sold. So it' s not like a stock.
And here' s the thing that, that really got me, you know, like here we come, the stock' s been coming up, we have our earnings event and we, you know, we' ve seen this happen. And then the earnings comes out and the stock drops. And let' s say it drops, it opens down here. And then throughout the day, it records valleys. And at the end of the day, it closes, it closes up. But if our stop was here, we could have been stopped out. And when it opened down here, you know, like, let' s say our stop was at 195. And it opened at 180, it would trigger a market order to sell because it' s below nine 195, 95, we get filled somewhere in the neighborhood of 180, not 195.
We' ve taken a much bigger hit than we were hoping to take this as if we use a stop loss order. And and we can' t go Oh, just a minute, I don' t really want to be out here because, you know, but and then by the end of the day, maybe it comes up back up to 187. But you know, we got out at 180. You know, or you get I call it being nicked out on a wick, like it opens low, and then really goes down. And then by the end of the day, it' s gone up dramatically. So that' s frustrating. So the disadvantage is it' s not free, there is an upfront cost.
And we' re expecting if the result is positive, which is what we' re our plan is that it will be positive is that this is going to end up going to zero. so close to it. But the ultimate protection kicks in at the strike price. And so this isn' t going to entirely offset all your risk. If it' s trading at 205. And we have a put at $1 . 95 and we paid $2 for it, that' s still $12 worth of risk. You know, if we sell it right now, we get 205. And so what we' Re- doing is looking to protect, hence the name protective put, we' re looking to protect $45 worth of gain. Or, you know, let' s say we' re looking to do a married put where we' re buying the stock. If we' re buying it at $2. 05, how much could we lose? Well, technically it could go to zero. And so we' re looking to manage the potential damage. Okay. So like what I like to say is it doesn' t, you know, offset all the risk, but it helps you define your risk. And it also, you know, kind of takes some of the sting out of the wound. Okay. Okay.
Now. You know, when we talk about all of this, I think talking is fine, but I want to see it on a screen. So let' Come and look at, at a stock. And I thought we' d look at Google today. So when we look at Google, this is a stock, it' s up 17% year to date. It had this pullback, you know, which, you know, a lot of the market pulled back in July and then has had a pretty steep recovery.
So, you know, if you' re looking at this and saying, you know, I think this is a good company, you know, I' m just making stuff up, but if you decided that you wanted to buy Google now, one, what one thing might you notice if I go back to a one-year chart? Well. Well, on this earnings, it gapped down on this earnings, it gapped down now on this earnings, it gapped up. So here Where the FOMO crew kind of kicks in is that you have two earnings ago, it gapped up dramatically and continued to run. So it went from a low here of, you know, one 50 up to one 91 75. Um, and you kind of hate to miss that run. So you don' t want to miss out.
So maybe if you had bought it this week before earnings, you might' ve had a protective put in place. And then this is one of those, um, you know, cases where, you know, the day before, you know, it kind of gapped down and then rallied, but then on this earnings, it fell and then continued to fall. And so here you might say, well, if I had a protective put. But I might' ve chosen to use it. Okay, so if we look here, if I were just, if earnings wasn' t in play and I was to buy a hundred shares of stock, I might put a stop about 3% below this one, 60, 50 ish level. So if I come here and I say, well. If I look at. That one 60, 52, we' re earnings, not a consideration.
I might put a stop around 1 55 ish. It' s currently trading out 1 64. So could I come to the trade tab and earnings is the 29th. So if I come out to November 1st, you can see volatility is quite high, right? Where it' s very low. Okay. So for this week, so I' m looking at three days worth of time, but this expiration doesn' t include earnings. This does. So if I come out and I said, okay, if I look at this 1 55 strike. I' ve got lots of volume here. You know, if I look at open interest. And, you know, it' s a heavily traded stock. I' d be paying around this. One 60 to always think they want you to pay more and they want you to, you know, if you' re selling it, they want to give you less.
So if I decided that, you know, I' m paying basically 1% for this protection. So I' m going to look at buying a hundred shares. So I' m just going to come down here to buy. And then I' m going to change my advanced order from single order to first triggers sequence. So why am I doing that? Well, because if I want to add this put, I' m going to come over here and say, and now I want you to add the buying of a put, which is my protection. And I' m willing to pay a dollar 62 for that. And my expectation, because I' m willing to buy the stock, is that Google is going to go up. After this earnings announcement. And I' d like to be along for that ride.
Now, if I' m wrong and it goes down, I' m risking, you know, how much? Well, I paid, I' m going to pay in total here. One 65, 78, the one 64, 16 plus the one 62. Let me just write that out. Okay. So in total, we' re in for 165, 77. Well, we' re live in the markets and this gives me the right to sell this stock for 155. So I' m basically risking $10 a share or a thousand dollars. Now, in this account, which has over a million, I can risk up to $5,000. And I can have a 30. $30. $30,000 position size. So, you know, could I do 200 shares if I wanted? Sure. But, you know, for our examples, our example, we' ll just do one contract.
Let me just close. Close down my drawing tool. So when I come to confirm and send, and this is saying, how much could we lose? It' s saying we could. We could lose the entire amount we paid to get in. Now, what are the odds of Google going to zero? You know, not high. But is it possible? Anything is possible. And I, you know, think if you take a disciplined approach, whether you' re buying stocks. And we' re just going to put this in our portfolio. We' re buying this as a stock that we think will grow, so we' ll just put that in stocks for growth. Now, we could create a group called protective puts. Yes, we are buying 100 shares and we are selling one put, which gives us the right to sell 100 shares – it' s $164. 16 plus the price of the put. Yeah.
Okay, there we go. So now, we both bought 100 shares and we bought a put; that protective put is called a married put because we have entered into the relationship of buying the stock and selling the put at the same time. Now, what if you have a stock already in your portfolio? So, let' s look at. So, let' s look at Microsoft. So, Microsoft, we have a stop on this at 372. It' s currently trading at 426. And we have this little blue dot. So, if we come to the chart, we can hover over it or we can just look here. It' s October 30th. And so, might we choose to cancel our stop? And use a protective put just over earnings. Well, we could. So, if we come and we look at Microsoft.
And we say, okay, let' s kind of come in a little more up close. We' re up 13% year to date on this. We say, well, you know, today it' s it' s up almost $7 a share. And if we were to use a put, we might say we might want to go. You know, below 40,923, if we were going to use a stop. That' s, we might adjust our stop. To 3% below that, maybe something around 405. So, do we want to come out to the same expiration on November 1st? And we' re going to come to our monitor tab. The first thing we' re going to do is we' re going to come down to Microsoft. And these are listed alphabetically.
And we can see that we have a stop loss in place. And we are going to exit that stop. And we' re going to move it up. Obviously, this was placed, you know, back in January. Now, this is another difference. In a live account, stop loss orders, if they are not updated. I think it' s after six months. They will drop out of the system. So, that' s. That' s one of the nuances or differences. But we are going to cancel this order. So, we' re cancelling our stop- loss order on Microsoft. You can now see that' s gone. And we are going to come to the trade tab. We are going to look at Microsoft and say. Well, we said we wanted to look at something around 405. So, we' re going to come to the trade tab.
And we are going to come to November 1st. We are going to scroll up 405. So, how much would we have to pay for that? Around $3. 10. You might say, well, holy smokes, Batman. Like, that' s a lot. Well, this is a stock that' s trading at $426. So, when we look at the current price, you know, it' s all relative, right? Like, that' s less than 1%. And when we look at the monitor tab, when we come back here. And we say, hey. We have 164 shares of this stock. We bought it at $367. It' s now trading at. You know, $425. And this is kind of one of those things where. What do we do? Do we say, hey.
You know, we bought these on different dates. But do we look at this and say. Hey, I' m just going to protect 100 shares. Or could I buy two protective puts. And then I' m actually paying a little bit extra. In the event that the stock. Goes up, which is what our expectation is. Or we wouldn' t continue to own it. Or, you know. And then if the stock does come down. We' re getting a little. You know, we could. If the stock came below 195. We' d have the choice to buy the extra 36 shares. And then sell them at that 395. So, that' s one way we might handle it. If the stock gaps. Down, we could also choose just to sell the puts. We bought if we thought the stock was going to rebound. And, you know, there is a class called protective strategies. That' s taught on Wednesdays at 11 o' clock Eastern. And so they get into the more of the nuances and differences. But for our example, we' re just going to buy two contracts. And we' re going to look at this 395. And we' re just going to come out here and buy. And we' re going to buy two. Confirm and send. Sorry.
And we' re going to come down to our growth stocks, because that' s where this is. And hit send. Now, if you wanted to see another example, we could look at Apple. So, we' ve bought that. And what we may choose to do is come to our monitor tab and say, okay, well, on Microsoft, we have added a put. So, we are going to add a group. And we' re going to call that stocks with protective strategies.' And so, we upgrade it to products. And that' s all. And here, let' Say, this is the summary, and this is what it shows us notes. And again, this is the products. It shows us first through the form, where we' ve added up our size and as we move forward.
So now, here' s what we have. It says: ' I' m right.' Multicolored. POL! 100😲وب. It should be in that, it just hasn' t moved yet. And then the other one that we did was Google. And we are going to move that to our stocks with protective puts. So now when we come down here, we can see that we have these two positions in our stocks with protective puts group. And if we wanted to do the same thing with Apple, we have a hundred shares, which makes it kind of nice and tidy. And if we come to Apple.
So here we have a stock that has been kind of creating this pennant pattern and it' s up near the top. We have earnings coming on the 31st, so on Halloween. But this stock is up 21% year to date. And has this stock had a tendency to gap? Well, if we look at it, and even if it hasn' t necessarily gapped on earnings, does that mean it might never gap? Because when we go back to the last two earnings, it gapped up here and gapped down here. And we don' t know which way it might go. And so could we come in and look at this and say, well, if we have a support level, around here, around this 220-ish kind of level, could we put a stop maybe here around this 225, kind of below this diagonal support level?
And, or could we use a protective put and come out here to the trade cab and say, hey, if I look at November 1st, so that' s the day after Halloween, I look at this 225, I have a hundred shares. So how many contracts would I buy? One. And what is the probability of it expiring in the money? So the probability of it touching 225 is about 42%. The probability of it expiring at 225 or below is currently about 21%. And it' s a fluid number and that can change. But if we looked at buying a put for that protection, we' re going to come to confirm and send. And now we can just put this, well, we re gonna wanna move the stock position. So we can put it in stocks growth. So it' s partnered up with the hundred shares. And then we can come over to our monitor tab.
and we' ll see you see how these all have quantities beside them and this one doesn' t it doesn' t because there are multiple positions there' s both the hundred shares and the put that we bought and so we' re just if we right click on this we can move it and we' re going to move it to our stocks with protective puts hey let me just look at the questions why not sell the put well selling the put is is bullish selling the put means you' re willing to buy the stock at that price now someone asked why um not talk about callers and so one of the things that we could do um especially especially especially
if we were looking at a stock where it' s very expensive to buy the put is and and carvana would be one of those so carvana i mean it is up 272 percent so far this year but if we look at buying a put and again earnings is next week it' s on the 30th so if we look at this and we say well i' d like to buy, you know, maybe sell a put at you know 185 or maybe even this 175. So, if I bought a put at 175, what would that set me back? Well, notice here November 1st, 11. 3 percent when you see a volatility number that high just think, oh this is going to cost me five dollars and 35 cents, you know, five dollars and 35 cents for a stock that' s $197.
So, that' s not less than one percent, that' s more like two and a half percent. And so some traders might say, well what if I sold a call the previous high? So what if I sold a call up here around 215? So worst case is if I get called out, you know I make some money. And so if I looked at this 215 215 so and it' s saying there' s a 28 chance that it could expire in the money, a 60 chance it could hit that. This is one where I' m, I' m selling a call which means I' m capping my potential gain I M. capping my potential gain but it' s a way of funding the purchase of the put and that is called a caller so I' m both, so I' m looking at taking advantage of a stock that' s been going up; we' ve got earnings coming up and what I know, what the trader is considering doing is buying a put to protect themselves from the downside.
Sorry, I was trying to get fancy and change colors; buying a put and that' s a way of funding the purchase of the put, and that' s a way of selling the call across all 77 years, let' s say $575, and then going down, putting the ball back, and you notice we' Re going down, and one I have about 145. I could have jumped that put at 175. Is going to cost us between let' s say $575. Then selling a call, and I' m using the selling of the call to help fund the buying of the put. So I' m going to buy a put and sell a call, and so it' s just a way to fund it. And in this case we' d sell the call, that caps our gains.
By selling this at $215, we' d receive about $715, so we' re a little bit ahead. Would you guys like to see that as an example? Okay, that' s going to have to be our last example. Um, but the way we do that is very similar to how we place the other trades. Okay, we' re going to look at buying 100 shares of stock, so we' re going to come here to buy and then we I' m going to come down to single order and say I only want to put in these next orders given the first order goes in. So then I' m going to come here, I want to buy that foot at $175, so I' m going to buy that and then I' m going to come here and I' m going to put in the next order.
Then I' m going to fund the buying of that by selling this call, so we still have risk to the downside. Both of these expire November 1st, and so we have to make a decision pretty quickly. Okay, so confirm and send: so we' re capping our gain to the upside but we' re providing an out to the downside. Okay, so we' re capping our gain to the upside but we' re providing an out to the downside. And you know we Risking $ 20 a share here at $175, so you know. You could say, well I don' t care about making money on the selling of the call, I' d rather you know, sell the 180 then, well we could change it and make it 180, you know.
Now these are you know kind of closer to breaking even, okay. And now we' re risking 15 or $ 17 a share pay off, okay? So confirm and send, and then we do have a group for that called callers over earnings, okay, okay. So let' s go through our last couple of slides because we' ve covered a lot today, and what I want to just reiterate is that in choosing the the strike that gives us the price at which we have a BTC in fact the right to sell. The expiration date, time is money, my friends. So you tend to want an expiration date that expires after the earnings or whatever the event is, but not too far past. So we' re like, we' ve got ourselves one to three days.
And typically one contract represents 100 shares. And, you know, this is something we use over an event like earnings, where we' re trying to protect ourselves in the event that there' s a dramatic move to the downside, that it gaps down. Okay, so what happens at expiration? Well, if the stock goes up, or it' s trading above the strike price of the put, the strike would expire worthless. And we' We have lost 100% of the premium we paid. And if it gaps to the upside, we' re like, ' we' re happy campers.' But if it drops to the upside, we' re happy campers. And if it drops to the upside, we' re happy campers. Just not like it drops $5 a share, not 15, then this put may go up a bit in value, but we have so little time, chances are still that it will expire worthless.
Now, if you do nothing, and the stock goes into expiration, and it' s in the money, even by a penny, your shares will be sold. The probability is extraordinarily high that, you know, you plan on selling the shares at that strike price, if you don' t do anything. Now, what might 'anything' be? Well, you have two choices. You can sell the puts, if it has gapped down, and it' s in the money at a profit, if you think the stock is going to rally. Let' s say you have a couple of days, it gapped down, and then has rallied kind of dramatically, but still might be below, you know, below the strike price or in the money. So you might want to sell the puts at a profit to help, to help offset the loss, but not choose to exercise.
Then you could also, you know, choose to exercise your right to sell the shares at the strike. You know, so you could also sell the put and, you know, buy another put if you want, you know, protection for another couple of weeks. Okay. Okay. So I think we' ve done what we set out to do. We' ve looked at when protective puts might be a tool we would use instead of using something like a stop loss. And we' ve discussed why. We' ve looked at some of the key numbers. We' ve looked at, you know, we' ve actually placed several trades. So more than we normally do in this class. And, you know, we' ve looked at a lot of different considerations.
Now, there' s a lot more detail we can go into, but I think we' ve looked at a lot more to go into. And there. A whole class dedicated to protective strategies taught by the fabulous Ben Watson on Wednesday mornings. And so, you know, and we followed these steps and we' ve placed some example trades. We did one on Carvana. We did one on Google that were new trades. And then we did two trades on existing stocks, one on Microsoft and one on Apple. Now, this is part of a 12-week series. And we' ve looked at a lot of different strategies. And, you know, we are at week 11. And so next week, I' m going to actually still be in New York because I' m there for the market open.
So, we will have a guest speaker talking about something, you know, maybe outside of this rotation. And then the following week, we' re going to do my favorite class. And I debated on making this the first one in the series, the seven or eight things I wish I had known about trading options when I started. As many of you know, I' m a student of this. I' m a product of this education myself. And then we go back to the top. But each one is a standalone session. But if you want to do some binge learning, you' re going to want to subscribe to the channel. And then you can just go over to, you can go over to getting started with options, the playlist. And let me just pull it down here.
Oh, that' s the wrong one. Here we are. So this is the Trader Talks from Schwab Coaching Channel. And you can see, you know, this is part of a 12- week series. And we start with what does it even mean to buy or sell a call or a put. And then we spend a week on each of those strategies. So the idea isn' t to make you an expert in just one week, or even in 10 or 12 weeks, but to give you an idea of what' s out there. So that should you decide to add option trading, you' re going to be able to do that. And then you can also add options trading to your roster of skills, that you' ll know which strategy you might want to focus on first.
So, guys, that' s a wrap for today. Thank you so much for joining me. Please hit the like button. It' A chance for you to let Brett and I know you found this content valuable. But it also will move this up in the trading algorithm. So it' s your chance to do a favor for a random stranger without even leaving your desk. So I encourage you to do that hit the subscribe button. And I will see you in a webcast coming up soon. Up next is Mr. Ben Watson with trading flag patterns. You' ll want to stick around for that. Thanks to Brett for helping in the chat and the guys behind the scenes for making this all come to life. Take care, everyone. Bye for now.
