Big Money Options Live Review

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Big Money Options review    Big Money Options Live history

It is my impression that all legitimate questions are posted and answered since every time I asked a question, it was listed on the blog. They also seem to be responsive to subscribers needs and concerns. There was a subscriber on a call in March of 2011 that mentioned they were involved in 14 trades and hadn't closed any up to that point.  The very next webinar, they decided to close three open trades.  As I have mentioned elsewhere, you have to decide when you need to close out the option trade.  It has been my experience that I am not waiting for them to issue the alert.  I have my own goals for each trade and if and when they are reached, I am out.

It seems that most of the subscribers to Big Money Options Live are also subscribers to the regular version of Big Money Options. This is a testament to the regular version of their service.

In May of 2011 they ran a special where you would get three months free with a six month commitment for a total of nine months or one month free with a three month commitment for a total of four months.

They had solid winners from December to April of 2011.  The picks were consistent gainers, but not necessarily of the triple digit variety. One huge winner was related to an energy name that they suggested and in three weeks the company was bought out.

Pros of Big Money Options Live:

Instant access to the newsletter authors during the Live webinar where you can ask questions about past ideas and options in general

You see how they come up with their trade ideas

You see the option trade idea at the same as other Live subscribers

Four or five option trade ideas a week

You know when the option trades are coming whereas with other option service like the regular version of Big Money Options you don't know when the alert will be issued.

The strong suits of Big Money Options Live are also things that I didn't like about the service such as:

If there is a strong trade idea, you have to wait until 12:30 eastern to hear the idea in the trading room.  With the regular version of Big Money Options the option  trade idea is issued once they have vetted the options activity and they don't sit on the idea because of a 12:30 appointment. There have been several times when their trade idea has already made the chatter rounds that I was already in the name.  I find that they are sitting on option trades because of the trading room schedule.

I would prefer that if a convincing idea hit at 10 eastern, that they send an email alert with the trade idea at that time or if they really feel that they need to conduct a trading room session because of the value of the Live product, then they should email subscribers saying "we are having a webinar in 15 minutes instead of the regularly scheduled time."  I found that there were too many times that the price had appreciated too much by the time 12:30 eastern rolled around. When this happened I just didn't act on the idea if I wasn't already in the name.

The trading room is a nice experience and I understand the value.  The goal though is to get actionable trade ideas and act on them.  I would pay the same amount if they did not sit on option trades and emailed them as soon as they discovered the trade and it passed their parameters.

There were a couple of times where I felt they were reaching for actionable trades to give out. This goes back to sticking with a trading room schedule. I just sat back and listened to the call and did nothing when I felt they were reaching. My preference would be to have all the trade alerts come by email at the moment it becomes an option alert and they can conduct the trading room session to go over their thesis.  What happens if convincing option activity happens on Monday, Wednesday , or Friday?

One thing that I find with the Big Money authors is they might stay in a name a bit longer than necessary.  An example: during a Thursday trading room session, an option trade alert was given on an eating establishment and they cited the unusual options activity. The following Tuesday, news hit after the bell that SAC Capital had disclosed a significant stake in the company which sent shares higher in the name.

Within 30 minutes of market open on Wednesday, I closed the position for a modest gain.  I was surprised that the stock price did not maintain the evening hours spike, but figured taking the money and running was the smart move.

 (continued)

Getting Started

Services Reviewed

Brokers Reviewed

Definitions

Trading Floor Videos