Please help me understand options trading!?

With the recent short squeeze of $GME by redditors, I was very intrigued and wanted to learn more about options, which seemed to be a very popular way to trade $GME. I have read Investopedia’s articles on Put and Call options but am still unsure on these. Could someone help explain it to me please? Thank you in advance everyone! Any resources on this would also be greatly apreciated!

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Chris

29 Jan 2021

Owner and Writer at Tortoisemoney.com

Honestly, understanding options is not an easy task and definitely hard to explain in one answer. But lemme link you to some good youtube videos which helped me understand it.

Options Basics: https://www.youtube.com/watch?v=SD7sw0bf1ms&t=1...

Options Greeks: https://www.youtube.com/watch?v=znLPP0p83SI&ab_...

IV Crush Explained: https://www.youtube.com/watch?v=v846B7hs9xg&ab_... <- This is important to understand if you're buying options bc sometimes the trade goes your way but you still lose money

The Wheel Strategy: https://www.youtube.com/watch?v=siFsIleNTzk&ab_...

Disclaimer: Options are a high risk strategy that can incur huge losses in a short time frame. Please do not do anything rash and please paper trade before trying out the real thing.

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