Sykview Trading Review 2019
Imagine the possibilities: sell a covered call. Buy a protective put. What about positioning a bull call-spread, then delta hedging so you can trade volatility? Well, like the name suggests, options are endless.
Over at Skyview Trading, their team wants to take you on a tour. With options trading courses and video recordings, they want to introduce you to the world of options, show you why options have an edge over stocks and teach you how to profit with their proprietary strategy.
But can they deliver?
Don’t worry, this Skyview Trading review has got you covered.
Sky View Trading is an educational and investment advisory service that specializes in options trading.
Led by Owner/Trader Adam Thomas and Owner/Trader Eli Grelecki, Skyview Trading wants to teach you how to earn a steady income each month by trading options.
The team offers strategies for all account sizes and skill levels and claims to use a strategy that 90% of options traders ignore.
Their goal is to enter positions with a high probability of success and make money “without having to predict the future direction of a stock.”
Both Thomas and Grelecki are full-time options traders and have over seven years’ experience within financial markets.
Products | Services | Costs
Skyview’s two main offerings are its Elite Membership and Alerts Membership.
The former is a complete A-Z course providing both training and support, while the latter is for advanced traders looking for quick insight into what’s hot in the market.
Let’s get into it.
When it comes to trading options, an Elite Membership has you covered from all angles. Subscriptions costs $199 per month or $1999 annually.
Content begins with Skyview’s Trading Course. It’s a four-hour-plus video tutorial that teaches the basics of options, reading option chains, how options are priced, option Greeks, and understanding the risk parameters of option spreads.
Other services include:
Trade Alerts and Live Trade Recordings are the bread-and-butter of the offering
With alerts -- each trade Thomas and Grelecki make is sent you via text message or email.
With the recordings, you follow the pair in real-time as they scour the market and search for profitable opportunities.
The Trader Chatroom allows you to interact and collaborate with other members on the site; you can pick the brain of some of the “smartest options traders” within the community.
Next up is the Trade Review Videos
This is where the two keep score. You get a detailed breakdown of what trades were made, why they entered each position and how the trade played out.
Learn thinkorswin is an introduction to TD Ameritrade’s brokerage platform (Skyview has a marketing agreement with TD and is compensated for recommending them as an execution broker).
The Answer Database and Customer Support both function in a similar way. Questions about trades or user issues are answered promptly.
So what’s the deal? Should you take the Skyview plunge?
Well first, let’s discuss risk
On the site, they make a point to state “you only need $2K in your trading account to sell premium.” True, but selling options for premium is a risky proposition.
It’s like this: selling options are like selling insurance.
When things go well, you earn premium. When things go bad, you have a hefty bill. You’re only protected if you own the stock and sell a call (covered call) or short the stock and sell a put (covered put).
However, Thomas and Grelecki strategies are ‘naked’ option strategies because with only $2,000, you won’t have the bankroll to implement a hedge.
Options are also similar to leverage. With $2,000 you can’t buy many shares of a $100 stock, but you can buy plenty of $2 call options.
With a leverage ratio of 50 (1/0.02) for every $1 increase in the price of the stock, the value of your options, holding all else constant, will also increase by $1.
What results in a 1% ROE (return-on-equity) for the stock results in a 50% ROE for your options position.
While appetizing on the upside, the trade goes both ways. A 1% decline in the stock will result in a 50% decline in your option position. It’s just like a leverage.
If you bought the stock on margin with $2 of equity and $98 in debt, the end results (roughly) would be the exact same.
Now, what about price?
For $199 a month – or $1999 annually – the service is pretty expensive. You need to have faith in Thomas and Grelecki’s ability to justify the outflow.
And while Skyview Trading Performance touts an impressive 90% win rate with a 15% average ROE – the returns are not audited nor are there verified brokerage statements.
You can cancel your subscription at any time and with the 14 day trial for $14, it’s a low risk way to give them a try.
The Alerts Membership is priced at $99 a month and includes only Trade Alerts from the Elite Membership package.
The guys will let you know what’s trending, where they’re positioned and give you up-to-date screenshots of their portfolios.
Unfortunately, this offering doesn’t come with a 14 day trial. Thus, we recommend you stick with the Elite Membership. You get much more content and with the 14 day trial you have little to worry about.
Free Trial | Promo Code
Unfortunately, the site does not offer a free trial. However through this Skyview Coupon you can register for a monthly Elite Membership and receive a 14 day trial for $14. As well, your monthly subscription drops to $149 instead of $199.
From our perspective, the trial should be advertised directly on the site rather than hidden in the search function.
Transparency is key to any service so Skyview needs a little work here. The training videos are also a little light on content.
Four-plus-hours of video is quite small considering introductory to advanced courses on Udemy offer 12-hours of content at a much lower price.
So, only the Elite Membership offers a 14 day trial for $14. It’s not mentioned directly on the page (you need to search for it), but we posted a link above.
Skyview should make this offer more accessible to prospective users, but you can take advantage while it’s still available.
One a side note, they also offer three free videos when you sign up via email.
Who is Skyview Trading Best for?
Skyview Trading is for any investor with a passion for option trading or someone who wants to incorporate derivative strategies into their portfolio.
As with most derivatives, initial outflows are minimal. You can obtain significant equity exposure with little out-of-pocket costs.
But like debt, options are risky. Many different factors move option prices – Delta, Gamma, Vega, Theta, Rho – so it takes a lot of expertise to understand how to trade options.
Skyview Trading is a little light on education, but if their trading team can perform, it can be a profitable endeavor.
Skyview Trading Review Summary
We have a mixed opinion of Skyview Trading. Transparency is key and the site does itself a disservice by concealing its 14 day for $14 Skyview Coupon.
However, the site offers plenty of solid material and by providing screenshots and Live Trade Recordings, Adam Thomas and Eli Grelecki allow you to follow their trades and audit their portfolios as you go.
For us, the Elite Membership offers the best value for your dollar.
You get much more content than the Alerts Membership, and with the 14 day trial and discounted monthly price of $149, it doesn’t hurt to take a look. However, you should stay away from live-trading until you are convinced that this service is right for you.
Alternatively, you check out a stock chat room to interact with other traders and educators directly. Trade Ideas has the best free stock chat room, while Warrior Trading offers the best all in one solution on a paid basis.
As always though, make sure you assess your risk tolerance.
Option prices are affected by a lot more than just the price of the underlying.
Even if you predict the direction of the underlying, a decrease in volatility, unstable Gamma, or change in interest rates can keep you from earning a profit.