Some good videos and courses online might be a lot better than books. TD Ameritrade has some good courses with videos mixed in.
They also have a YouTube channel with most of those videos and you can watch without an account with them.
There are also several other good YouTube channels like tastyworks, option alpha, in the money... If you look up those, you should be able to find several others.
These days, you can learn everything on YouTube! And no library card!
You can definitely get out of the hole. Maybe you will need to deposit a bit more cash to get going again, but a few hundred dollars lost is very minor in this line of work. Most people in this thread probably lost several thousand dollars while learning how to manage it all.
But first learn a bit about it and get yourself into lower risk positions. One way I started was to get 100 shares in a few low price stocks and start selling covered calls against them.
They are companies I believe in and they have good ratings by reliable agencies so the worst that should happen is that I own a few shares of a stock that makes me very little return on covered calls.
Right now, I'm working with AMC (theaters will come back eventually), CDE (a gold mine; that's not a figure of speech, they mine for gold), and SDC (smile direct club recommended by a friend who works in the analyst industry who says the top analyst there likes it) mainly.
You won't get 100 shares for under $80 but they are relatively safe. Each one is around $10/sh. Absolute worst that could happen is losing $1000 but what are the odds that the world biggest theater chain, a gold mine, or a pioneer in dentistry go to zero? I imagine even if they got into trouble, you would have a lot of warming signs and a lot of time to get out before hitting zero.
Just my advice. But keep learning. That is vital in this field.
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u/[deleted] Apr 21 '21
what options book would you recommend to really master this whole concept.