I find options takes a lot of my time and I would like someone else to manage it. If I go to a wealth management institution and ask to have a professional options trader invest my money what can I expect. I am young and am aggressive in my returns. Can they do the same? Anyone have any experience dealing with this?
Posted by 6_child_Da_Vinci
6 Comments
The one I talked to wanted to start with 100k. I didn’t feel I could trust them so no experience if it would have worked out
Why not just buy indexes and forget about them for 20 years at that point? It’s been hard to beat historically if you can afford to ride out a downturn or two.
Nope. They cannot trade options for you it’s considered too much risk. SEC rules won’t allow it if they are a legitimate licensed investment advisor.
And if you do find some sleazy person to do it they will likely charge you 20%-40% commission.
You might want to consider LEAPS. Less baby sitting. Great returns if you buy properly.
For example: when last COST er was bad. I bought calls. They were up 85% before their earnings this week. I sold half of them before er. The remaining calls were still up 50%. I bought more calls at a closer exp date.
When good companies have crap earnings I always buy LEAPS or at least 6 months out. My most recent purchases are TGT TJX CVX … it’s almost too easy.
There’s some hedge funds that use option strategies that you can invest in, but you need to be an accredited investor. So you’d need to have an income of at least 200k /yr or be a millionaire.
Aggressive meaning you are ready to lose lots of money.
How much money you can lose and replenish without minding?
Nobody will do this for you.