I'd suggest learning how to sell options instead of buying options. When buying you need to be 100% accurate in your analysis of the stock to profit. For selling you don't need to be 100% right as long as the price does not cross your strike at expiry. Not to mention that about 80% of options expire worthless. Best to find a mentor to guide you as you may incur losses if this is not done right.
Avoid commodity related stocks if you are just starting out, as well as those drug (not pharmaceutical) related stocks as the volatility is crazy. Generally options can be used on most types of stocks, Etfs and even fx and futures. Best to be applied on stocks with a long history.
I'd suggest learning how to sell options instead of buying options. When buying you need to be 100% accurate in your analysis of the stock to profit. For selling you don't need to be 100% right as long as the price does not cross your strike at expiry. Not to mention that about 80% of options expire worthless. Best to find a mentor to guide you as you may incur losses if this is not done right.
Avoid commodity related stocks if you are just starting out, as well as those drug (not pharmaceutical) related stocks as the volatility is crazy. Generally options can be used on most types of stocks, Etfs and even fx and futures. Best to be applied on stocks with a long history.