OptionsGeek Review
Felix Frey says that the top 1% of options traders in the world simply buy calls and buy puts to grow their capital by using a mathematical edge and excellent risk-reward-ratios. The main benefits of buying calls and buying puts is the upfront known limited risk of each investment, the ease by which you can trade them, and the straightforward process of managing the positions.
Felix is a Wharton School graduate and worked for Swiss Bank O’Connor, Bank of America, and as head trader at Scoggin Capital Management.
In this OptionsGeek review, I will take you through the course structure and reveal some helpful insights. Is it the best options trading course? Let’s find out.
3 Steps to Profit
The Three Steps to Profit options trading courses is well structured and packed with in-depth knowledge about options trading. Felix guides you through it from A to Z.
The course starts with a welcome letter, where Felix gives clear guidance on how to make the most out of the course. The three steps to profit are
- Education
- Technology
- Profits
And he gets it correct right from the beginning. Traders and Investors want to start at #3. Making profits without education and tools, now wouldn’t that be great? In the real world, it’s different. The sharks patiently wait for new options traders to come in and give away their money to the professionals.
It is important to start with education and the use of great technology. Felix also offers a tool called The New Options Chain to subscribers. So, you immediately get education and technology advantages when subscribing.
Felix says, “…by following my lead, you will quickly realize how my system helps you trade like the Top 1% and finally shifts the odds in your favor…” and to make this happen, you need to go through the whole course.
Live Options Seminar Recordings
The two seminar recordings Trade Options Like the Top 1% and $2k to $20k in 8 Weeks are your starting point. The videos have a duration of about 3 hours in total and already give a clear understanding of Felix Frey’s market perspectives, strategies, and performance. He also reveals some insights about how the most successful investors in the world use options, and when they use options.
It is important to start with these two videos. Felix also recommends making notes during the course, and that’s what you should do. Make notes on things that you find beneficial, and write down questions you may have. Felix is there to answer your questions in the case that the education program doesn’t fully answer them.
7 Must Known Concepts Before Learning Options
This chapter is mainly about risk-reward, probabilities, odds, margin, and mathematical edge. Each of the seven sections combines a short explainer video with written information and graphics. I like the way he does this because it is easy to understand, and subscribers can also print the text and make notes on it.
Felix focuses on making sure you understand why and how the mathematical edge is the driver to profits. But instead of complex formulas, you find well-explained information within this chapter. Don’t be afraid when reading mathematical edge over and over again. Felix does a great job here with a transition from using basic concepts to options trading for maximum returns.
Understand Options in 8 Steps
Felix explains a topic in a video combined with some written insights and well-visualized graphs. Then, a question section asks you questions about the things he taught. And finally, there is an answer section where you can check if you were right with some additional clues.
Here is an example. In step 3 of 8, Felix talks about “Time.” Time is an essential factor, and one of the few transparent factors when buying options. Therefore, it is vital to understand the value of time and the expiration date.
Also, terms like in the money, at the money and out of the money. In the first part of step 3, Felix talked about it in the 10-minute explainer video and with some written content. Then, in the second part of step 3, Felix asks 12 questions where you can provide your answers, some with multiple-choice, some in tables. Finally, in the third part of step 3, you find the solutions with the reasoning behind it.
And the same logic applies to all 8 steps to understand options trading completely. Simplicity is the core focus of this educational part.
The New Options Chain
In the introduction, I mentioned that this service offers a combination of education, along with technology. The New Options Chain reflects the technology part. Trading options means using a tool called the “Options Chain.” For decades the options chain looked the same. Call and Puts are visible along with the premiums, expiration date, and some greeks if you like.
But some things are missing in those traditional ways of using the options chain. How do you know if using an option is more beneficial than trading the underlying stock? How do you calculate your minimum target price based on the premiums? How does your confidence level and stock target price influence the option you should trade? Those are all questions that the classical options chain cannot answer.
OptionsGeek’s new Options Chain does exactly this. Just enter the stock symbol, your stock target price, and your confidence level regarding how confident you are that the target price will be hit. The New Options Chain wants to give you a clue if trading options gives you an advantage compared to trading the underlying stock.
Sometimes it is just more beneficial to trade the underlying stock instead of options. Using the new options chain gives you an advantage and becomes very handy when making your decisions. During market hours, you can play with the tool and try some of your favorite stocks to get used to it.
Simplifying The Greeks
Felix teaches you how to trade without the options greeks. But for the sake of completeness, he also added short explainer videos and blog posts for the options greeks: Delta, Gamma, Theta, Vega, and Rho. It’s an excellent addition, but not the main focus of Felix’s concept.
Advanced Concepts That Will Make You Money
The advanced concepts also dig into the Black Scholes formula. They are also about expiration dates, options indicators, volatility, and finally, the part on how to execute like an options pro. Here Felix is even talking about the invisible costs of executing options orders.
To Catch a Shark
How does a hedge fund manager trade? That’s what this chapter is about with valuable insights, perspectives, and conclusions. As Felix quoted, it is an old saying on Wall Street that “Trading is the hardest way to make an easy living.” And without preparation, beginners are sure to face difficult times.
One of the advantages of listening to Felix Frey is his professional history. He worked at some of the top firms on Wall Street, always with the focus on options trading. It’s crucial to go through this chapter because even one single detail can make a whole difference in your trading career.
Again, some short explainer videos with a duration of 10 to 30 minutes each combined with the content visualized in text and graphs, make learning to trade options easier. I like the videos the most, but nothing beats the combination of the printed version of the post where notes can be made. “How Steve Cohen makes Billion$,” what goes through the mind of a fund manager, and “How to Find Great Trading Ideas?” That’s all part of this chapter.
And there is one section I like to point out. It is “The Ultimate Guide to Unusual Options Activity.” Unusual options activity scans are the core part of some other successful programs. To see where the money of institutions goes gives traders an edge. In this part of the course, Felix explains how to spot large transactions, where to find unusual options activities, what to look for, and why.
One important part here is to understand how to know if the options were bought since most profits are being made by buying Calls and Puts.
To me, it was great to see, that after getting a bit into Black Scholes, Felix returns with even more insights like he did in the chapters before the Options Greeks.
Simplicity before complexity is the key to success, and combining it with the New Options Chain makes it easy for beginners to get into options trading.
Felix did also include a chapter on how to sell options to make this options trading course 100% complete.
Selling Options
If selling options is done right, then it can be used to generate a monthly income by selling options. But it has to be done right, or it can quickly become one of the riskiest option trading strategies out there. When buying options, your maximum risk is what you pay for the options premium. But selling options is under certain circumstances equal to unlimited risk.
I recommend going through it with the understanding that the chapter exists to make the course complete. When you finished the course, then your primary focus should be on the low-risk strategies Felix Frey teaches.
Winning Picks
Winning Picks is an option service for those who are looking for investment advice, trading ideas, and good returns. The options trading ideas have good risk-reward-ratios to help investors save time and to invest smarter. The trades aim for 150-400% returns.
In March 2019, OptionsGeek made its first public presentation during the TradersEXPO in New York, and the performance is tracked ever since. The cool thing about this is that those trades have holding times of a week to a few months by simply buying calls or puts. With two to four options picks per week, a well-balanced portfolio can be created.
For the selections, Felix uses the same strategies that he teaches in his 3 Steps to Profit course. He has a clear process, follows his plans, and delivers easy to understand trade ideas.
Subscribers receive a detailed trading description with the options analysis, technical and fundamental analysis. Also, each week you get updates to any trading ideas since inception.
With an average holding period of two months, this service is clearly for swing-traders who may work full-time in other jobs.
So instead of tons of daily picks, you get well-picked trading ideas after market close.
Like with any new trading service, you should always use a paper trade account or trading simulator first. Read the briefing, and add the options to your paper portfolio in the way you would do in a real portfolio.
Make sure you understand the logic behind the trading ideas, the way of placing orders in your brokerage account, and treat the positions in the same way as you would with real money investments. Most of you probably want to start with making profits right from the first day of subscriptions. But the value of trading with paper money for a month is priceless. You need to make sure that the service fits your needs completely.
By the way, annual Winning Picks subscribers also get free access to the trading course 3 Steps to Profit, 2 months savings, plus an incredible guarantee of 50 trading ideas that reach triple-digit-returns over the course of a year. Skyview Trading offers similar services, but for a higher price.
Costs
The options trading education course 3 Steps To Profit requires a one-time payment of $397 and comes with a lifetime membership, the full options education section, access to the top 1% club, and one free month of access to Winning Picks.
The Wining Picks subscription is available as a monthly and annual plan. Both Winning Picks plans include 2-4 trading ideas per week. However, free access to the options education course 3 Steps to Profit is only included in the annual subscription.
Comparison
| Detail | 3 Steps To Profit | Winning Picks Monthly | Winning Picks Annual |
|---|---|---|---|
| Price | $397 one-time | $197 per month | $1,997 per year |
| Access to 3 Steps To Profit | Yes | No | Yes |
| Options Trading Beginnes Course | Yes | Yes | Yes |
| Access to Winning Picks | Yes, for 1 month | Yes | Yes |
| Subscription Link | n.a. | n.a. | n.a. |
Conclusion
OptionsGeek is one of the best options education and options picking services I have reviewed so far. Felix Frey does a pretty decent job educating subscribers about options trading. He goes the right path putting education in the foreground.
The options secret course 3 Steps to Profit is well structured, easy to follow, and contains tons of insights on how the top 1% make money trading options on Wall Street. The combination of explainer videos, blog posts, and live-seminar recordings is beneficial. Also, the chapter Understand Options In 8 Steps stands out from the rest of educational sites because it combines educational aspects, questions to the attendee, and the answers with the why.
The review reflects just my opinion. I strongly recommend you to sign up for the free membership first. Keep your money safe and make your own experiences using all the free resources and decide based on your own experiences.
A little positive side effect of the free membership: You get a special offer from Felix when you subscribe to the free membership first. This way, you can test everything without spending any money. If you then decide to become a paid member, then you can join for a much lower rate for the trading course, and Winning Picks.
Pros
- Separate offers for education and options picks
- Winning Picks track record since inception
- Satisfaction Guarantee for annual members
- Unique options tool for all subscribers
- Free OptionsGeek membership available
Cons
- Live-trading account not visible to subscribers
What is OptionsGeek all about?
OptionsGeek provides answers about the most critical questions in options trading. Education, options tools, and trading ideas are part of their services.
What is the new options chain?
The new options chain is an optimized version of the regular options chain and answers the question if options are the right asset to trade in a specific case.
Can I test OptionsGeek for free?
Investors can test OptionsGeek for free by signing up for the free membership. Currently, 31 educational lessons are available for free.
Is OptionsGeek a day trading or swing trading service?
OptionsGeek offers a swing trading options picks service called Winning Picks. 2 to 4 trade ideas are sent out to subscribers weekly.
Who is Felix Frey?
Felix Frey has a strong financial background. As a Wharton School graduate, he worked for companies like Bank of America and Swiss Bank OConnor. He also worked at a prestigious Hedge Fund.
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