Options reward understanding and punish guesswork. This free seven-module guide builds from the ground up: what a call and a put actually are, how to read an options chain, what the Greeks measure, the core and advanced strategies, and the risk management and psychology that decide who is still trading in five years. Worked examples and interactive tools throughout, written for UK, US and EU investors.
Educational, not advisory. This guide teaches how options work. Nothing here is a recommendation to trade any instrument, and options carry a real risk of losing more than you invest. Invest Informatics is not authorised or regulated by the FCA or SEC.
What you’ll learn
- What calls and puts are, and the mechanics of every options trade
- How to read an options chain: strikes, expiries, bid/ask, open interest and volume
- What the Greeks (delta, gamma, theta, vega) measure, and how they move your position
- The core strategies: covered calls, cash-secured puts, spreads and the trade-offs of each
- Advanced strategies and when they actually make sense
- How options are regulated and taxed across the UK (FCA/FSCS), US (CBOE/SEC) and EU (ESMA/MiFID II)
- The risk management and psychology that separate disciplined traders from blown accounts
Who it’s forAnyone who wants to understand options properly before risking money on them. No derivatives background is needed, because every module starts from first principles and works through interactive examples.
Seven modules · lessons, flashcards, calculators and challenges · UK, US and EU coverage · free to read
Explore the guide
The seven modules, in plain English
1
What Is an Option?
Calls, puts, premium, strike and expiry. Why your breakeven sits above the strike, and why leverage makes a trade sharper rather than better.
2
How to Read an Options Chain
Decode every column, then screen a contract in seconds on liquidity, spread and expiry. The spread costs more than the commission and never appears on a pricing page.
3
The Option Greeks
Four numbers that describe the entire risk of a position. What each one measures, and the bargain between gamma and theta that sits at the centre of options.
4
Core Options Strategies
The six building blocks, each with a maximum loss you can write down before you place it. Form the view first, then choose the tool that fits it.
5
Advanced Options Strategies
Trade movement, time and volatility rather than direction. Where the risk is capped, where it is not, and why that difference matters more than the payoff.
6
Markets, Regulation & Tax
Protection and tax across the US, UK and EU. What the FSCS does and does not cover, how UK gains are taxed, and the spread betting question.
7
Risk Management & Psychology
Why losing 50% takes a 100% gain to undo, and how sizing, risk and reward and a written plan keep that from happening to you.