Option Course 101

Free videos to get you started with options trading.

Lesson 1: Calls and Puts What call and put options are, and how each one pays off as the stock moves. Lesson 2: In, At and Out of the Money (ITM, ATM, OTM) How an option's strike compares with the stock price, and why it matters. Lesson 3: Value and Parity An option's value — what it's worth now versus its time value — and how calls and puts are linked. Lesson 4: Option Spreads Free account Three rules for pricing any spread, then verticals, straddles, strangles, butterflies, condors, ratios, synthetics and the box. Lesson 5: The Greeks Free account Delta, gamma, theta, vega and rho: where each is largest, 0DTE options and the earnings vol crush. Lesson 6: Call Spread vs. Put Spread Free account Why a call spread and the matching put spread act alike, and how the box ties them to interest rates.

Lessons 1–3 are open to everyone. Lessons 4–6 are free with a PitSavvy account: create one or sign in.

The course continues in Option Course 102 and Option Course 103. See the courses