ASX Options Game: Moon Patel wins the game again!
Moon Patel from NSW is the winner of the Options Game – for the second game in a row.
In four weeks, he turned $50k into $479,707 and had a return of 959%.*
So Moon Patel has managed to win again after breaking the record in the last game.
Typically the people who win do well by trading lots of long calls and long puts. They take a directional view on the market, and they win because they have the leverage. If they lose, there’s no harm done – their account will be reset by the next round of the options game.
Moon has been fantastic at picking direction two games in a row. It’s not always the best strategy to have a long term view on the market as it can be a distraction, but in a four week game, taking short term views can deliver higher returns. Typically in the game, people who take bold positions like this will tend to do the best (or the worst). And for Patel, it played out to his advantage.
His trades are explained by professional Options traders Ivan Tchourilov and Patrick Nelson in the video below, so check it out if you’re interested to learn exactly what he did.
If you would like to start trading too, you can do so in a couple of different ways. You can either join the next ASX Options Game to compete against other traders in a market simulation, or dive straight into trading in the live market by taking a seven-day trial to our Implied Volatility options trading platform.
*Past returns do not reflect future returns.
Trading options is not suitable for everyone. There is a risk that you can lose more than the value of a trade or its underlying assets. You should only trade if you are confident that you fully understand what you are doing. If you are thinking about acquiring a financial product, you should consult our Financial Services Guide (FSG) at www.reachmarkets.com.au and the relevant Product Disclosure Statement first.
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July 8, 2020
July 8, 2020
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