“What was your financial position when you began trading options?”

Starting my journey with options trading, my financial position was modest. I had accumulated approximately $10,000 in savings dedicated specifically to exploring investment strategies, including options. This capital was reserved strictly for trading, distinct from my other financial holdings and savings meant for personal or emergency use.

My approach was cautious; I focused on gaining a solid understanding and experience in options trading. Initially, I engaged with smaller trades, opting for covered calls and protective puts to balance risk and learning. Gradually, as I became more familiar with market dynamics and risk management strategies, I diversified within the options universe, implementing strategies like iron condors and spreads. Over time, disciplined reinvestment of profits and continuous learning helped my net worth grow alongside my options trading skills.