229: 15 Options Trading Questions from ChatGPT

The Option Alpha Podcast

Kirk Du Plessis

Investing, Trading, Stock Market, Business, Options Trading, Education, Finance

4.8 • 1.2K Ratings

🗓️ 12 July 2023

⏱️ 112 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

AI is the hot new buzzword these days, sparked by the release of ChatGPT a few months ago. Since then, it seems everyone has used OpenAI’s software in fascinating (and sometimes scary) ways.

So, I jumped into ChatGPT and asked it to come up with the top questions that new and advanced traders ask about options trading. This week's podcast explores the 15 questions - and answers - that options trades want to know.

See all 15 answers here

What are options and how do they work?
How much money do I need to get started in options trading?
How do I select the best options trading strategy?
What are the key components of an options contract?
What is the difference between a call option and a put option?
What is the difference between buying and selling an option?
How do I determine the strike price for an options contract?
What is implied volatility and how does it impact options trading?
What are the risks involved in options trading?
What are the different options trading strategies I can use?
How do I calculate profit and loss for an options trade?
How do I manage risk in my options trading portfolio?
Should I use technical analysis to inform my options trading decisions?
Can you use charts and graphs to trades options?
What are some common mistakes to avoid when trading options?

Transcript

Click on a timestamp to play from that location

0:00.0	AI is the new hot buzzword and all the rage these days all sparked by the release of Chad
0:05.3	GPT a few months ago.
0:07.4	Now since then everyone in their brother has used open AI software in fascinating and
0:12.0	sometimes scary ways.
0:14.1	So this week I jumped into Chad GPT and asked it to come up with the top questions about
0:18.6	options trading that new and advanced users are asking right now.
0:23.7	And not only did it whip up a list of 15 questions wicked fast, it typed 15 amazing
0:29.6	questions that actually serve as the basis and outline for this week's podcast.
0:54.4	Hey everyone, this is Kirk here again at Option Alpha working every single week to make
0:58.0	this the most popular investing podcast offered online because it's based on one thing and
1:03.4	one thing only and that's helping you consistently place smarter trade.
1:07.7	So thank you again so much for tuning in today and welcome back now truthfully.
1:11.3	I didn't know where to start back up the podcast episode because we did a series of podcasts
1:15.2	and I was like, man, I have no idea where we should go with this.
1:18.1	There's lots of questions, lots of topics we could dive into.
1:21.5	But I really wanted to focus this week's podcast on again, another deep dive into the
1:26.9	education side that's always been our focus here at Option Alpha is trying to educate
1:31.8	traders, new traders, experience traders, try to help everyone collectively in this community
1:36.7	understand options trading a little bit better.
1:39.2	So I figured you know what AI is all the buzz these days and it's the rage.
1:43.2	Everyone and their brothers using it.
1:44.5	So why not use Chad GPT and try to see if it can come up with some questions.
	...

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