7DTE Options Trader Resources

If you are new to options and credit spread options, this booklet will give you all the basics to get you ready to learn and be successful with our strategy.

By joining our community, your learning curve will shorten dramatically.

4 week Options Training Program

Please read this first:

This is a free program through the Options Industry Council(OIC). There is a lot of info in this program, but it is presented in a very easy-to-understand video format. Some quizzes must be completed to move on to the next modules. Your 7dte trader community is here to help, so do not hesitate to reach out with any questions. There are no shortcuts to investing success, no matter what you see on Social Media.

Week 1: Go to Optionseducation.org and create an account

After you have done that, click on E-Learning.

The course you will be taking is OIC Options Academy: Key Concepts and Strategies. Click on that. Watch and complete the quizzes for the first three sections: Introduction to Capital Markets; Options; 101:Basic concepts and Terminology; Options pricing explained.

Week 2: Watch and complete the quizzes for the next 3 sections: Getting to know the Greeks; Options Volatility-Forecasting the Unknown; Options Strategies-Pairing stocks with options.

Week 3: Watch and complete the quizzes for the final 4 sections: Options Strategies: Buying options; Options Strategies: Selling options; Synthetic options; OIC Final Assessment.

Week 4: Establish a brokerage account, fund it with at least $10,000, sign up for a paper-trading account, read the 7DTE Trade Playbook, get engaged in the Community, and start your trading journey. We recommend three brokerages: if you are really new, Charles Schwab’s ThinkorSwim platform is perfect. If you are a somewhat experienced trader, then Tasty Trade could be the right brokerage for you. If you are experienced and don’t really have a need for great customer service, then Interactive Brokers is awesome. All 3 of these have plenty of training videos on various streaming sites.

Week 5:‍ ‍We strongly suggest you paper trade until you are entirely comfortable in all aspects of this trade. With 250 trading opportunities every year, there is no rush to get into the battle. If you treat paper trading like you are executing real money trading, then when you go live, you will be better prepared.

Additional Resources that will help you on your trading journey

Instructional Video Links:

  1. Setting up a Credit Spread in ThinkorSwim -Video

  2. Exiting a Credit Spread for Max Loss in ThinkorSwim -Video

  3. Setting up a Credit Spread in Tasty Trade -Video

  4. Tasty Trade - Beginner Options Course - Sign up for free.

Articles:

  1. Three Greeks: Theta, Gamma, Delta descriptions

Books:

1.      Trading in the Zone and The Disciplined Trader by Mark Douglas.

2.      Mastering the Mental Game of Trading by Steven Goldstein.

3.      Best Loser Wins by Tom Hougard.

4.      Thinking in Bets by Annie Duke.

5.      Rich Habits (Second Edition) by Thomas Corley.

6.      The Mind Game of Trading by James B. Caldwell.

7.      The Mental Game of Trading by Jared Tendler.

8.      Passive Trading by Allen Sama.