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Option Alpha Review: Scam / Fraud. Why Option Alpha / OptionAlpha.com is a Scam [2020 Review] - YouTube
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Why Option Alpha OptionAlpha.com is a scam (in my opinion) and why I
don't think Kirk du Plessis makes any
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BestStockStrategy.com, enter in your email address
and receive $400 worth of free training
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option alpha optionalpha.com for around eight years. I know that he is a major
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and huge head start on me and actually
the teaching aspect I don't think he
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knows anything more than me I mean I
worked on Wall Street investment banker
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and completed five to ten billion
dollars worth of transactions so as far
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as like knowing actual finance I don't
think I think he knows less not that
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that really matters because it doesn't
help you when you're trading at all but
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I know that I'm relatively new in
teaching people and I don't want this
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video to come off as like me bashing the
competition or anything like that like I
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don't want to come off as a hater
because I definitely do think that his
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videos are very well produced I don't
think that he's a complete fraud I just
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think that he doesn't make any money
from trading alright so I think that
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what he teaches is OK you know he
primarily teaches you to sell premium he
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doesn't teach you to buy premium he
doesn't teach you I don't think he
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teaches technical analysis which is we
all know is a complete bullshit maybe he
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does like maybe he says that he's like
done backtest and he has like indicators
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what I know I can very accurately work
very let me say with a very high degree
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of confidence let me say it that way
with an extremely high degree of
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confidence I do not believe that he
makes money trading or if he does make
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money trading he makes a very small
amount and I definitely believe that the
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majority of his students do not make any
money trading and there are a few
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reasons you know I did a little bit of
research the first reason is that he
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primer
tells you to focus on ETFs ETFs have
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extremely low relative premium when you
compare it to specific stocks so for
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example if I was selling right now in an
early October a $145 put on Facebook I'd
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probably receive around $2 right so that
would be basically a put that's like 8%
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below Facebook's current market price
I've received 2% I received you know $2
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or whatever it is let's just make up a
percentage let's say I'd receive around
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one and a half percent premium for
selling that put if I was selling a put
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on the spice I mean ETF like Kirk
recommends with the same 8% below the
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current market price I would receive
around half as much premium so remember
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the only way that you get paid is by
collecting premiums so automatically
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you're receiving and bringing in half as
much money the second thing is he's huge
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iron flies iron butterflies which means
that you're essentially selling
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straddles on ETFs right so if right now
the S&P is trading it around like $28.50
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he would tell you to sell a straddle on
SPY so you're gonna sell a spread on a
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SPY so you're gonna sell the put side
and you're gonna sell the call side that
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and your and you're gonna sell verticals
right like that's just so horrible so
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even in the worst case scenario you're
trapped with the vertical where you
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mitigate the amount of premium that you
receive you can't manage the position
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and you're also encouraged to compensate
because you're bringing in less premium
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to trade too many contracts right so not
only are you receiving less money by
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trading the ETFs but you're also trading
spreads and and you're trading straddles
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which are horrible right like I would
never ever trade straddles and that's
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actually one of my criticisms of tasty
works and tasty trade as well because
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straddles with what's gonna happen is
you your call side is almost invariably
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going to get tested around 40 to 50
percent of the time so what do you have
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to do you're then gonna have to spend
more money on commission
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to make adjustments to that position or
let's say in the best case scenario you
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let's say the the underlying doesn't
really move okay you're still gonna have
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to log in to your position like four or
five times a day five or six times a day
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just to make sure that that position
does not exceed the upper bounds or the
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lower bounds of where you set that
straddle meaning that you're gonna be
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really stressed out it's gonna occupy a
lot of your time and from a lot of, now
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again, I don't really recommend a reading
test customer testimonials because I
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just make them up alright I mean it's
just obvious so I really don't put any
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legitimacy in customer testimonials or
those websites that are made from the
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affiliates but I did really like a few
of them I don't know if they're
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legitimate or not but it just makes so
much sense where people are complaining
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that there are so many adjustments that
Kirk Du Plessis recommends that you have
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to log into your account four or five
times and also your commissions start
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adding up whether you have a small
account there's no way that you can make
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four or five adjustments to a position
especially when you're trading a
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straddle when you're only collecting I
assume he's recommending that you
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collect and you close out the position
that 25% of the max profits right
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because that's what tastytrade
recommends and Kirk Du Plessis
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essentially copies the research from
tastytrade so there's no way that you're
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gonna make money trading iron flies on
ETFs where the premium that you receive
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is already substantially reduced you're
most likely going to get tested in this
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bull market on the call side your
commissions are going to end up eating
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up all of your profits in the best case
scenario you're closing out that
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position at 25% maximum profit and
additionally you're gonna have to log
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into your account like five or six times
a day because you're potentially scared
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about that option or those options
getting getting
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test it and you're gonna have to make
modifications so again Kirk du plessis
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great podcast his videos are really well
done shit they're a lot better than my
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videos I just stand in front of my
bedroom with a camera and then I just
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are interested if your main goal is to
make money you will not become a student
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you should not become a student of Kirk
duplessis and option alpha if your main
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priority is to be entertained then yeah
listen to his podcast buy his course etc
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you know but if your main priority is to
make money with this little stress in
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his little time and using the absolute
best strategy possible then you will not
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subscribe and you should not subscribe
to Kirk Du Plessis because he doesn't
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have the best strategy I guarantee you
he doesn't even make that much money
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himself alright I don't think that he
posts his full trading statements I
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also don't think that he posts his sighs
he's definitely not nearly as responsive
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to his students as I am I mean I'm like
completely OCD about providing and
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exceeding everyone's expectations
let me quickly see if there's anything
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else that I wrote so I wrote about the
eat he encourages you to trade ETFs
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which leads to decrease premium tons of
adjustments he encourages people to use
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spreads which have very high commissions
especially when you're when you're
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adjusting it he doesn't post his size no
trading statements and actually I wrote
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here that I think he loses money I'm not
sure if he loses money
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I mean 2018 honestly I haven't had the
best year 2017 I killed that I made like
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72 percent but the fact is that whether
I make fifty percent this year or thirty
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percent this year in the long term I
think it's just a matter of time before
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you know I didn't worth like over a
hundred million dollars so and I don't
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even care about like the freaking money
like you guys you guys saw actually how
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I live like I don't have a car right I
rent my apartment just because I like
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being free when I left New York in 2016
I just discussed with my wife like hey I
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want to move and she was like okay no
problem and then we packed up the few
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things that we had in a car and we moved
I mean that's it like when you don't
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have a lot of things it gives you
freedom I can tell you that for all
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those people who think that having a car
or having a Lamborghini is gonna make
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you like attractive to women and it's
gonna validate you to society it's not
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about that man
just that Lia I worked as a nightclub
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promoter and I can tell you that that
life and I've been with a lot of women
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when I was a nightclub promoter I can
tell you that that's really hollow and
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if you haven't experienced that
lifestyle then and yet you're pursuing
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it I can tell you that maybe you should
go to like another country you know
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where you can engage in that type of
lifestyle and you're not going to feel
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good about yourself when when when you
have the things that you believe are
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going to make you happy you have to
really work on yourself so I guess what
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I'm saying I know I'm kind of like
getting off into a tangent but I
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definitely don't think that Kirk
Du Plessis even though the production
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value on his videos is incredibly high I
don't think that if you follow him
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you're gonna make any money and this is
David Jaffee from BestStockStrategy.com please
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like comment share and subscribe I am
definitely not a fan of optionalpha.com
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I think that optionalpha.com is I
would say like borderline fraudulent
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borderline scammy and I don't think that
any students who are subscribing to
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optionalpha.com are going to make any
money or at least students who have
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under like 50 or a hundred thousand
dollars and even if you do have over a
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hundred thousand dollars you're
definitely not maximizing your
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profitability and decreasing your risk
by selling straddles I mean it's just
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not especially on ETFs I mean it
just doesn't you know it just doesn't
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work out that way alright
so I'm gonna have any questions let me
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know like I said please like comment
share subscribe you can go to BestStockStrategy.com
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BestStockStrategy.com and enter in your email
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