Big Money Options News Update

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With the extended streak of successful trades with Big Money Options (formerly Changewave Options Trader), I wished they offered a daily option service with one strong trade per day.

That wish has been answered -- kind of. In mid September 2009, Nick Atkeson and Andrew Houghton announced the release of Big Money Options Pro.

Big Money Options Pro provides one or two trades per day with complete buy insructions just like Big Money Options.  In addition to those trades, subscribers receive daily the hot shot trade alert, a daily morning outlook, and a weekly trading landscape, and better access to Mr. Atkeson and Mr. Houghton.

The Daily Traders Outlook is provided daily where the Big Money Options team discusses the important events and news that should be catalysts in the trading day. The Daily Hot Shot Trade alert is sent by email which highlights a dozen or so hot option signals. The Weekly Trading Landscape is their review of the market which is what current Big Money Options subscribers receive on Mondays. The greater access to the Big Money Options team is through the quarterly trading room meetings. It is a conference call where they answer subscriber questions and discuss their market outlook and discuss current trades on the table.

Current subscribers to Big Money Options are offered the opportunity to move up to Pro at a lower charter member rate of less than $2,000.  It appears that the service will be billed at $3,000 after their charter member drive ends in October. Update: As of October 2010, the advertised price is still $1,995.00 for the year if you pay it up front. They will give you a month to month transfer on the remaining time on your subscription if you move up to Pro. So if you have 8 months left on regular Big Money Options, then if you move up to Pro you will have 8 months plus the year that you sign up for.

It appears that this will be a strong competitor to the Optionmonster service. Where before each service had a niche, now each one competes with the other.  Optionmonster costs $5,000-$6,000 a year with the cost varying depending on if you pay monthly or yearly. The Big Money Options Pro will be a third to half that amount.

Optionmonster does offer a service similar to the basic Big Money Options, but last time I checked it didn't seem to have a strong following.  Most people that go with the Najarian product seem to go with the full monthly service of Inside Options since the Optionmonster product is rich with information and access compared to the once a week trading idea service they also offer.  

Big Money Options has had a strong showing since March 2009. One trade had a return of over 5000% and that is not annualized.  This huge gainer was the type of trade that I have shied away from -- the spreads.  That winner has given me reason to reconsider my position on spreads. Some other big winners banked gains of 500%, 825%,1400%, and 3700%.  That monster trade of over 5000% took months to play out.  I have never stayed in a trade that long, but patience was certainly rewarded.

Most of the trades were the 100-300% returns that traders are looking for.

I eventually tried the premium service of Big Money Options. Big Money Options Live review premium service    

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