By Steve Papale
Powerball. In case you don’t go to a store or watch TV it’s been taking over the conscience of people over the last few weeks. It ended up about $1.5 billion. Yes that’s with a B. Something interesting. The odds of Powerball have been getting longer over time. In 1992 it was 1:55 million. Today 1:292 million. That’s why once in a while we see these huge pots. What’s more likely statistically than winning the Powerball? Walking outside and getting hit by lightning, running for cover then slipping on a banana peel and falling into the ocean and eaten by a great white shark. Could happen I guess. I saw Sharknado.
The basics. The fundamentals. The best performers in sports, arts and business continually review or practice the fundamentals. So there is no reason options traders should not do the same. Let’s spend the next few weeks going over the basics of options. For the experienced trader this will be a review. For the newbie, this may be a chance to solidify needed knowledge.