Kirk was also caught using fake reviews: Option Alpha Fake Reviews I don't believe he posts his full trading statements or account size.Īs demonstrated with his treatment of Mandy, he is not responsive to his students and tried to possibly scam her out of $1,000 (after ignoring her emails for a month). He likely does not even make much money from trading. Kirk Du Plessis does not teach the best option strategy if you're looking to make money. In general, I think that many educators fail to communicate the stress that goes along with having positions that are challenged. I discuss managing and closing options trades in this post. You won't be able to manage the position and you'll be tempted to compensate for bringing in less premium by trading too many contracts - therefore increasing your risk even more. you'll have collected substantially less premium because you sold a spread on an ETF. You will not have a safety net if the trades moves outside of its expected range.Īnd. You will sell an at-the-money spread on SPY (both the put and the call side).īefore you know it, you will be forced to make a lot of unnecessary adjustments. Let's take the S&P as an example, if it is trading around $2,850, he would tell you to sell a straddle on SPY. This makes his options trading strategy very risky Second, he recommends iron flies or iron butterflies which means that you are essentially selling straddles on ETFs. If you follow Kirk's strategy, you will bring in about half as much money as my students collect. I also believe that the majority of his students do not make money by trading options. If he's making money by trading, then it is probably a small amount. Profitable trading is not about knowledge, it's about discipline and patience. He talks about doing backtests and using indicators, but that oftentimes serve to confuse people instead of helping them. He tends to recommend some technical analysis indicators, which I don't believe work (I think technical analysis is a scam). He primarily teaches you to sell premium, which is good, however his strategy is inferior because it leads to a large number of challenged positions, stress and losses. I know it seems like I'm bashing the competition, and I actually think that Option Alpha has well-produced videos, however, I don't believe that Kirk Du Plessis and Option Alpha makes money from trading. When it comes to actual finance, I know what I am talking about. I worked on Wall Street as an investment banker and have completed around $10 billion dollars worth of transactions. However, when I evaluate his options trading strategies, I feel that his recommendations would not be successful for most traders. I know that Kirk du Plessis has been operating Option Alpha since ~2011. Kirk’s been interviewed on dozens of investing websites/podcasts and was recently featured in Barron’s Magazine as a contributor to their Annual Broker’s Review. When he’s not helping thousands of people turn options trading into a passion and income stream they love, you’ll find him spending time with his beautiful wife and wild kids or working on his 1974 Pontiac GTO in their home state of Pennsylvania.In a few videos (below) I explain why I believe Option Alpha is a scam and why I believe that Kirk du Plessis doesn't make money trading options. Each day hundreds of new people join this rapidly growing community. What started as a small blog has quickly grown into one of the industry’s most respected authorities on options trading with more than 5.4 million visitors each year and 47,000 active members representing 42 different countries. A former Mergers and Acquisitions Investment Banker for Deutsche Bank in New York and REIT Analyst for BB&T Capital Markets in Washington D.C., he founded Option Alpha in 2007 and currently serves as the Head Trader. Kirk Du Plessis is a full-time options trader, real estate investor, and stay-at-home Dad.
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