What is an option?
Options to me is a step up from normal trading of stocks, If you haven’t traded before you may want get a feel on that before getting into options.
An option is basically the choice to buy or sell a contract at a certain price. The contract is made of up 100 shares of a company. The length of your contract, or how long you have the right to those shares is called the expiration date. The goal is to hit your strike price before the contract expires or sell them at a higher price then what you got them for. You set the strike price by making a call (think the stock will go up) or a put(think the stock will go down).
It’s better explained in the video to the right so give it a view if your interested in how to get started.
$500 Option Challenge
The $500 Option Challenge was set up by Humzah the creator of OG Cashflow an Instagram account I came across with some cool content. I reposted some of his content and he actually replied and said join the challenge on the discord. On the discord he will go over trades and how to build this $500 account.
The cost of the discord is $40 a month currently, which equivalates to one meal on Doordash, and I’m def okay with missing a meal in order to multiply my money, and so far I made my $40 back plus more on one trade!
The challenge is to take $500 dollars and trade it using options and seeing how much money you can grow
If you have $500 dollars to spare and would like to use it with the intention of growth join the challenge, you can join it with OG Cashflow on the discord, or do some research you can do it on your own.
Recently his IG Page got taken down, so couldnt find the video about the challenge but this video is by him as well pretty great for you take your first steps for investing.
My Options RESULTS
So far so good on my end, of course I’ve learned a ton, I been taking notes on my wins and my losses after my full month of trading options I’ll share my lessons.
So far with the help of OG Cashflow Discord and some of my own picks my $500 account is up 100% to $1006 in two weeks, I’m excited and looking forward to see how I can make it double!!!
Get started investing somehow some way, use Robinhood or Webull, you have options, I personally think Robinhood’s interface is easier and more user friendly.
If you know nothing about stocks, you can start trading with Acorns where they trade for you, you just give them your money lol. So far I’ve earned over 13% increase, so they are a great start over the bank as well!
Get your money working for you and start investing and trust me you have OPTIONS!!!!