395 TIP. Option Strategies and Building a Billion Dollar Business w/ Tom Sosnoff

We are exploring option strategies and how to incorporate them into your investing arsenal with Tom Sosnoff. Tom began his career as an options trader and went on to co-found ThinkOrSwim, a trading platform that was sold to TDAmeritrade for over $600MM. He then created TastyTrade, a media company with shows focused on educating investors about options. He recently sold TastyTrade for a whopping $1 Billion dollars, all while making hundreds of trades per day in his own personal account.

In this episode we discuss:
00:00 – Intro
00:43 – Tom Sosnoff’s Billion Dollar Entrepreneurial Journey
02:08 – Core Tenet That Led to Success
03:43 – Tasty Trade Success and Authenticity
07:40 – Building Thinkorswim and Tasty Trade
10:20 – Tom Sosnoff’s Love for Trading
11:58 – “Force the Market to Beat Me Rather Than Trying to Beat the Market”
14:39 – Naked Put
17:05 – How to Identify Companies With High Implied Volatility and Expected Return and What That Means
18:00 – How Layering Options on Top of Buy and Hold Strategies Can Help Generate Income Whether Markets Are Up, Down or Sideways
21:20 – Options Strategies (Condor Strategy and Calendar Strategy)
25:28 – 2 Things Tom Sosnoff Learned Over the Last 10 Years
27:24 – The Optimal Time to Buy and Sell an Option
28:01 – Are Taxes Factored in the “Trade Small, Trade Often” Strategy?
30:29 – Advice on Risk Management
33:24 – Tasty Trade Demographics
35:35 – Tom Sosnoff’s 100 Trades a Day
38:59 – Trade Small, Trade Often
39:52 – Building Wealth With Options Trading
42:48 – Does Tom Sosnoff Use Charts for Trading?
44:05 – VIX
44:46 – Does Tom Sosnoff Look at Earnings?
45:17 – Expected Move
45:35 – What’s Next for Tom Sosnoff?
46:55 – How Many Underlying Assets Are There With Tom Sosnoff’s 100 Trades a Day?

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