How To Trade Options On Robinhood for Beginners 2021: Step-by-Step Guide

This video's topic is How To Trade Options On Robinhood for Beginners 2021: Step-by-Step Guide.

I hope to share my tips and tricks about business & money.

Some people consider options risky, but that's only if you do not understand how they work. They give you the chance to minimize risk and have maximum payouts. Getting started with options is pretty easy.

Time Stamp:
00:00 - 0:40 Intros
0:40 - 0:55 Benefits Of Options Trading
0:55 - 1:25 Homepage
1:25 - 2:45 Need A Watchlist
2:45 - 3:15 Options Questionnaire
3:15 - 3:35 Discover Page
3:35 - 5:52 Option Contracts

First, you need to download the Robinhood app which you can do here for three free stocks:▶︎ https://bit.ly/3kjIvLQ. Then, you are going to create a watchlist of the stocks and ETFs that you are interested in. When you are ready, take and pass the options questionnaire. Almost every brokerage requires you to fill out a survey and you can see my responses and how I passed at 2:45 in the video (approval takes about 24 hours). Beginners, should sign up for Level 2 Basic Options Strategies and then work their way up to Level 3.

Once approved, make sure to spend time exploring the Discover page and learning about different option strategies. Next, click on the asset you are interested in, click trade, and trade options. You have to choose the time period, whether you want to buy a call/put option, strike price, how many options contracts you want to buy, desired premium (willingness of you to pay for the options), and lastly make sure you review the summary and profit/loss diagram. If everything looks good, swipe up and buy your first option.

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