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Keene on the Market: Trade to Win Using Unusual Options Activity, Volatility, and Earnings by Andrew Keene

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CHAPTER 2

The Life of a Professional Trader

One of the best things about being an options trader is the large amounts of money that can be made on a daily, weekly, monthly, or yearly basis. Even though the stock market and equity options market are open nearly five days a week, 52 weeks a year, there are often times when if I am not paying attention I could miss a trade for $500, $1,000, or even $5,000. When most traders took breakfast, lunch, or smoke breaks, I sat there focused and determined to make more money. The problem with me is I feel as though I can always do better. If I make $5,000 in a day trading, I want to make $6,000; now that I am writing one book, I am already thinking of books two, three, and four.

I watch price action and price momentum. This market action means both trading volume and volatility, both of which add value to options contracts. This added volume and volatility also means added chances for an options trader to make an income that far exceeds what he could earn working at a regular job. Some traders have made money very quickly trading in the market. In fact, there are stories of professional options traders closing up shop from July until the end of the year and taking friends and family to mountain resorts for month-long skiing vacations or on trips to the Bahamas.

Perks of Being a Trader

Another benefit of trading is a sense of self-employment—that of being your own boss. The professional options trader is able to take a day off of work whenever ...

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