OIC Simulator Review
The Options Industry Council was created as a way to provide educational resources and information about the benefits and risks involved with trading options. On their site you will find a ton of resources including webinars, videos, podcasts and educational literature about option trading and how they work. Under their Tools & Resources tab you will find a plethora of information on options ranging from historical and implied volatility, most active options, expiration calendar and options calculators to name a few. There is literally everything you could want to know about options on this website and in a detailed manner. They even have a book store for you traders who like to read.
The OIC has excellent customer service. Everyone I spoke with was educated on options and was able to answer my questions quickly and professionally. They have the standard ways of communicating with phone and email but they also have chat service which I always find helpful and my favorite way to communicate with companies. All of the reps are trained for options questions and you can tell once you start talking with them about it.
Their simulator is a great place to practice trading options because as we all know, trading options is hard and way more complicated than trading stocks. They are priced differently and are leveraged so it’s important to understand how they work before putting your capital at risk. There are also a ton of different strategies that can be used based on your outlook on the market and timeline because options are expiring assets so understanding how time decay affects them is crucial to any strategy you implement. The simulator is a data center where you can manipulate the data to see how your trading strategy would work under different market conditions and time frames. What’s really nice is that it will explain the factors involved with the pricing of your options and how changes in those factors will affect the prices. This is great information for learning and gaining a deeper insight into how they are priced and what you can expect during different market conditions. When I first started trading options I just dove right in and started risking real capital. It was a terrible idea and cost me a lot of money. I definitely recommend checking this simulator out before risking your capital so that you will have a better chance of making money than I did.
Trading options successfully is a very tough endeavor so having all the tools and resources you can is a must. The Options Industry Council is a great place to start as they have a ton of educational resources and the simulator that will provide you with the data you need to understand options when they are trading. Along with the simulator, their site provides excellent resources for educating yourself on options including classes, webinars and podcasts. But the best part of this is its all for free! There is no cost to use their tools and setting up an account is super simple. If you’re just getting started in options this is an excellent place to start educating yourself. If you want more information you can check out their website here.
As always if you have any questions regarding Options Industry Council, please leave us a message below!
Reviews by Warrior Trading