FAQs
Pretty self-explanatory. If you’ve got a question, there’s a good chance we have an answer here. But as always, if you don’t find what you are looking for, we are always just an email away.
GENERAL QUESTIONS
How much do the advisories cost?
Each advisory costs $20 per month. You will receive at least 2 recommendations per advisory, per month.
How do I subscribe to a strategy?
You can subscribe to any strategy by clicking “Purchase” next to each one on the home page, or “Add to Cart” on each strategy description page.
What if I make my purchase mid-month?
For the first month you will be billed a pro-rated amount of $20 a month based on the number of days left in that month . For all following months you will be billed $20 on the first of the month.
Can I cancel my participation at any time?
Yes. However, once you cancel you will no longer continue to receive recommendations. You can cancel for a full refund before the first trade of any 30-day period. If you choose to cancel your subscription after the first new trade, you will not receive a partial refund for unused days.
Where do I go to cancel a subscription?
Log in to RED Option, and once logged in, you will be taken to your My Account page. On the My Account page, click on Manage My Strategy Subscriptions and choose Cancel This Strategy.
Where do I go to find my RED Option account number?
Log in to RED Option. Once logged in, you will be directed to your My Account page, where you will find your RED Option number listed.
Can I change my advisory service from one strategy to another?
Yes, you can do this at any time. Please email your change request to support@redoption.com.
How can I sign up for the free daily and weekly market commentary newsletters?
You can find all our free commentary listed on our Resources page. You can read the free commmentary on RED Option, or you can elect to have it emailed to you.
MY STRATEGIES QUESTIONS
How much is required to participate in the RED Option advisories?
There are no account minimums imposed beyond those of your broker. Each strategy has a typical price per spread, and if you have questions about a particular strategy, we encourage you to email us.
How much does it cost?
RED Option is $20 per month (30 day period), per advisory. Daily commentary, education, and expert support are all free
When will I be billed for each advisory?
You will be billed a pro-rated amount of $20 a month based on the number of days left in that month for the first month. For all following months you will be billed $20 on the first of the month.
Do I have to have a thinkorswim account?
No. However all brokerage firms will not necessarily be able to support the different complex strategies that are recommended, especially in IRAs. Additionally, if you would like the recommendations professionally facilitated, you must have an auto-trade account with thinkorswim.
Are RED Option recommendations available for autotrade?
Yes, RED Option has an exclusive autotrade partnership with thinkorswim. All strategies but ShadowTraderPro are available for autotrade.
How do I register for autotrade for thinkorswim?
Once you have subscribed to the advisory, make a note of your RED Option account number. Log into your account at www.thinkorswim.com, and highlight Autotrade and select Sign Up Trade services. You will need to enter the RED Option account number, complete a Limited Trading Authorization form and set an allocation. For specific instructions, check out our autotrade page.
Does thinkorswim charge any additional fees for autotrade?
No, thinkorswim does not charge any additional frees for autotrade. You would simply pay the same commissions as if you were placing the trade yourself.
How often will I receive trade recommendations?
All of the advisories will make 2 opening recommendations per month, but within the month, we do not have a schedule of when those trades will be initiated.
What happens if I sign up for an advisory mid-month?
If you subscribe mid-month, you will be charged a prorated amount for the remainder of the month.
How much should I allocate to each trade?
The final decision is up to you, although we never recommend putting all, or even most, of your eggs in one basket. If you have specific questions before choosing your allocation amount per trade, please contact us and we will be happy to walk you through your decision.
How do I view archived trades for my strategies?
You can view all past trades to any strategies you are subscribed to by first logging in to RED Option. Once you are logged in, you will be directed to your My Accounts page, where you will find links to view the archived trades for your subscriptions.
Are there any other fees or hidden costs with RED Option?
Nope. Just $20 per advisory per month.
What are the commission charges on these recommendations?
That depends on your broker. We only offer autotrade via thinkorswim, and if you are trading there, you will pay your regular commission rate. If you are manually executing these recommendations at a different broker, you will obviously pay that commission rate.
How do I stop my thinkorswim auto execution?
You will need to discontinue your thinkorswim autotrade allocations on the thinkorswim website. You will have the option of setting your allocations to zero and Do Not Allocate, which means no new trades would be placed for you but all existing positions will still be adjusted and closed via autotrade. You can also choose to cancel your autotrade completely and take your existing trades off of autotrade as well. If you choose to do that, you MUST let us know immediately, so we can ensure thinkorswim removes those trades from autotrade and no longer makes any adjustments to your trades. Please note: if you are autotrading the Mini-Basket, you must contact us via phone to cancel.
Where do I send questions about recommendations and trade criteria?
That's easy. support@redoption.com
Can these recommendations be used in an IRA?
thinkorswim will allow you to trade any of the RED Option option strategies in an IRA, although there are some brokers who do not allow that. Please note that you are not allowed to autotrade Liquid Swing in an IRA, as that strategy does short stock, which is ineligible for IRAs. For more questions regarding trading in an IRA, we recommend contacting your broker.
Can we get trade emails via text-message?
Yes, all our strategies have text-messaging capabilities. To enter in your text address, log in to RED Option and on your My Accounts page, click on Change/Add your text message email address.
How do I set up my account to get text messages?
On the "My account" page, click the link to Add a text messaging number to your account.
VIRTUAL TRADER QUESTIONS
Can anyone sign up for Virtual Trader?
Sure. Just sign up under Classes. Note that while it is a live trading session and you will have the opportunity to participate in the trades, you are not required to trade. We always have a few that just watch the trading session.
How do I launch the Virtual Trader application?
The application will be available for launch 5 days prior to each session. When it is available, you will find a Virtual Trader icon on the top right portion of the RED Option site. Just log in to RED Option, then click on the icon to launch.
What do I need to run Virtual Trader?
Click the link on the Virtual Trader registration page for system requirements. Any newer computer should work.
What is Virtual Trader?
A state of the art trading application built by thinkorswim Technology allowing customers to interactively learn and trade with veteran floor traders.
Will Virtual Trader work with my browser?
Yes, the application will launch from both PC and Mac browsers.
I participated in a past Virtual Trader session. Where do I find the archives?
Log in to RED Option. Once logged in, you will be directed to your My Accounts page. Click on the View My Seminars link, which will direct you to all your classes. Click on the corresponding archive link next to the specific Virtual Trader date you wish to view.
How much does the Virtual Trader cost?
The cost is $99 for two sessions in a particular month.
Is "day-trading" done at the Virtual Trader sessions.
No, we don't day-trade in Virtual Trader sessions. They are defined-risk, position trades usually going out 2-3 months.
MYSEMINARS QUESTIONS
I do not see a class I was registered for or attended?
You may have registered using a different email address. If you believe you should see it under the email address you used to log in, please email us.
How do I see the list of trades that were placed at my class or virtual session?
Log in to RED Option and you will be directed to your My Account page. Click on View My Seminars, and click on the corresponding class.
Who do I contact if I have questions regarding the trades placed at my seminar?
Email Frank Walsh at fwalsh@redoption.com regarding trades places at these classes.
Why would I add my thinkorswim account?
You can add your account so thinkorswim can print trade tickets for you prior to attending a Learn N’ Trade.
Can I get a refund for my seminar or virtual session?
You can get a refund up to 14 days before a class.
How do I see the upcoming schedule of classes?
Click on Classes on the top menu bar to see all the upcoming RED Option classes, or you can go to www.optionplanet.com to view the complete list of RED Option and Option Planet classes.
When will the audio and commentary be available after my Virtual Trader session?
Within 24 hours after the session date.
LEARN N' TRADE QUESTIONS
What is taught at the classes?
We go over all our advisories and provide in-depth analysis of 5 of our advisories. More specific info can be found by clicking on the Learn N' Trade tab on the Classes dropdown menu.
How much does each Learn N' Trade class cost?
All classes are only $199.
How do I sign-up?
Just head to the Classes tab on the top menu bar and click on Learn N' Trade page.
Can I get a refund if I cancel my Learn N\' Trade?
Customer may cancel and receive a full refund up to 14 days before the class.
What is provided at the class and what am I required to bring?
Just bring something to take notes, a calculator if you believe that would prove helpful, and your thinkorswim account number(s) if you wish to trade. We will provide everything else, including lunch.
Where will the next classes be held?
All confirmed upcoming classes can be found by clicking on the Classes tab and going to the Learn N' Trade section.
What type of trader would benefit from these classes?
We truly believe any one would benefit from our seminars, from the novice to the most experienced there's something for everyone.
I’m completely new to options, should I go?
This class will definitely benefit the beginning trader. The class is intended for all types of traders and investors.
Is a thinkorswim account required to attend?
No, you do not need a thinkorswim account to attend, although you will need a funded thinkorswim account if you wish to participate in the trades.
EDUCATION QUESTIONS
How often are the educational articles updated?
We try and add new educational information and tools every few weeks.
Can I get more detailed explanations of the trade recommendations?
Along with each trade recommendation is a letter explaining why the trade was chosen, along with its probability of profit, capital requirement, and break-even points.
How can I get an explanation of something I don’t understand?
Please email support@redoption.com and one of our traders will respond.
COMMENTARY QUESTIONS
I can’t read the emails, what’s wrong?
Our emails are sent out in HTML format. You will need an email program that can view HTML formatted emails.
How do I sign up for daily email commentary updates?
Once logged in to RED Option, click on "My Account" on the upper right hand corner of the menu bar. On the next page, select yes next to any of the Free Market Commentary newsletters you wish to have emailed to you.
How do I turn off the email commentary updates?
Once logged in to RED Option, go to “My Account” in the menu bar, and de-select the email commentary service you don't want to receive.
Are the daily commentaries archived?
Yes, you can see the archives for each commentary underneath the daily commentary
Are the authors employees of RED Option?
No. They are industry experts whom we have contracted to provide us with relevant and interesting market data and analysis.
Are the authors involved in picking the recommended trades?
No. Our Chief Strategist and his support team are solely responsible for finding the trades. The authors are an information source only.
SUPPORT QUESTIONS
I can’t read the emails, what’s wrong?
Our emails are sent out in HTML format. You will need an email program that can view HTML formatted emails.
Will RED Option work with any Internet browser?
Yes. If you experience any difficulties viewing the site, please email support@redoption.com.
Does RED Option require a high speed connection?
No, but the faster your Internet connection, the better it will work.
ABOUT QUESTIONS
Where did the name “RED Option” come from? Are you Communists?
RED is the last three letters of our Chief Strategist's name, backwards. It was a way to honor him in a small, but visible, way.
How can I contact RED Option?
Phone: 1 877-733-6786
Email: support@redoption.com
ADVANCED QUESTIONS
What is taught at the Advanced class?
That Advanced Option Strategies Workshop dives into the deep end of complex option strategies and analytics.
How much does the Advanced class cost?
The cost for the entire session is only $199.
How do I sign-up?
The Advanced Option Strategies Workshop is highly coveted and thus, it is always sold out. So, we hold a lottery for entry in to the next available class. Click on the Advanced Class Lottery icon on the bottom right corner of the home page to enter your name in the lottery and read more.
Can I get a refund if I cancel my registration for the Advanced class?
In order to receive a refund we must be notified 14 days prior to the date of the scheduled class to ensure we can get your reserved seat filled.
What is provided at the class and what am I required to bring?
We provide educational materials, wireless and even a yummy lunch on both days. You may want to bring some scratch paper, a favorite pen and something to snack on.
Where will the next classes be held?
The class will always be held at the University of Chicago's Gleacher School of Business, which is in downtown Chicago.
What type of trader would benefit from these classes?
Anyone with a firm understanding of options and trading in the market. These classes are advanced and discuss advanced options trading strategies.
I’m completely new to options, should I go?
If you are new to trading options, this class is too advanced. We would recommend taking free class through Option Planet (www.optionplanet.com) as they cover more of the basic option strategies.
Do you have Hotel recommendations for the advanced class?
A block of rooms are reserved under the name 'thinkorswim' at the Amalfi Hotel. (http://www.amalfihotelchicago.com)
