Options GPS

Average Subscriber Review:

Options trading class from Tycoon University.

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Posted by David Oshea on Aug 7, 2010 @ 1:09 pm

Just read through the communications between ML and FRANKLYN. I agree and think ML is a competitor trying to talk mess because first of all, Options GPS isn’t a subscription service! It’s a one shot deal – education product. ML said he canceled his subscription. Also, it’s interesting how ML answered FRANKLYN’S accusation immediately (same day).. Why would an average person be looking at this website every single day?

In any case, I have Options GPS and it’s literally the best education system I ever purchased. Tycoon customer service used to suck. But now it’s really good. They used to not answer their phone but call you back a couple days later. This changed I guess like 3 – 5 months ago I dunno.

Options GPS is a DVD set but you can watch it on the website too like youtube. There is a question answer feature like answerology.com or yahooanswers.com or answers.com etc, is community based and you have profiles and make friends with other students and it’s clear who is on your level or above or below as there is a poitn system and badges etc., and they have tests and quizzes and so on and so on and sometimes they give you free mentoring – but the catch is they ask you to keep it up later and pay if you wanna keep it up but I guess that’s normal business land.

Nothing else to say about them. OH Ron isn’t there any more. He’s a good educator but he kept on flaking on all his appointments to give classes anyway and was really condiscending on the LIVE classes (OGPS isn’t live, it’s a recorded product). So Screw him anyway I have what I need. Tycoon has other options guys now, Costas B (forget last name) and another guy Ed something or other and I haven’t had much experience wieth them but I like what they write in the free Tycoon Report.

THat’s all from me. I wasn’t even gonna comment but I felt like I smelled a rat (ML) so I thought I should say something.

Overall Rating	Not Rated
Performance of Picks/Advice	Not Rated
Consistency	Not Rated
Interesting to Read/Educational	Not Rated
Customer Service	Not Rated
Value for the Money	Not Rated

Posted by Eyes Opened on May 9, 2010 @ 8:53 pm

I’m personally very happy with Options GPS. I had what would rate as a “fair” understanding of options from reading sites on the net, but OGPS really unfolded them and helped me understand time and volatility’s affect on option pricing as well as the nuts and bolts of how they’re priced. I haven’t gotten into the strategies yet, but the production quality is nice and looks like you’re watching a tv program. Sound is good, graphs are clear, haven’t had any problems yet. The community was a great idea and works a lot better than some of their previous educational incarnations. Having experienced CRISS and OGPS, OGPS was most definitely a step in the right direction, they’re learning. The course has absolutely nothing to do with market timing or picking stocks, but it never claims to do so. It’s simply to understand the inner workings of options so you know HOW to position yourself once you know which direction you believe the underlying is going to trade. No complaints here.

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Posted by Jacob Kaul on Jan 10, 2010 @ 11:54 am

I received this course from my mother as a gift. I trade futures, as my father was a commodites trader when I was a kid and it is what I know. I want to trade equities and options and was talking about this before my birthday. surprise! I like the production quality of the course, it is solid. The course is in depth and seems complete too. I have been reviewing their picks on boards for their paid trading service – they have stocks, options and one for sectors and etfs. I need a good leader there. I need a service that will help me execute what I think I have learned in the course, but according to what I have read- their courses are not a good choice. Any thoughts? I don’t want to loose my money on their picks, despite my satisfaction with their course.

Overall Rating	Not Rated
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Interesting to Read/Educational	Not Rated
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Value for the Money	Not Rated

Posted by trader on Dec 17, 2009 @ 9:42 pm

I don’t work for anyone, and don’t sell anything – I trade my own accounts for a living, so I have no axe to grind here.

Options GPS is an educational product, not a trading or timing service, so there no picks to rate.

I loved the course! It’s a very solid education in options, starting from theory; going into depth on all the Greeks except for rho; covering synthetics in detail; and only then – after the foundation for true understanding has been built – covering 14 specific option strategies.

Each strategy is covered well, including not just theory but also practical tips and things to watch out for, and suggesting specific actions to take in response to changing market conditions. The latter include more-than-less obvious ways to roll positions that are working, and less-than-more obvious ways to morph positions that aren’t working anymore (for example, if in a bullish diagonal spread and the underlying stock starts tanking, you can buy puts at the same strike and expiration as the near-month short calls, and that morphs the entire position into the synthetic equivalent of owning just long puts with the strike price of the far-month long calls).

Of course all of it can be learned elsewhere, given enough effort. This is by far the most /logical/ development of the topics I’ve ever seen, though. Indeed, it’s the first time I felt I finally /understood/ many options concepts I had only memorized before. My option trading results have already improved enormously as a result.

The DVD production quality is excellent. I did have one DVD with a corrupt video file, and sent a note about it to customer service. They never replied to my note, but a replacement DVD arrived within the next week, so I don’t mind the lack of reply. Their customer service department does appear to be overwhelmed (I /suspect/ this “department” consists of one person, and that customer service isn’t even their full-time job).

Ron Ianieri recently published a book (via Wiley Trading) covering much the same material in much the same order, and that’s certainly a much cheaper way to get many of the benefits of this approach. There’s some info in course not in the book, and vice versa.

The course (but not the book) also includes a subscription to a web site with a virtual community of other people taking the course. That can be very helpful if you get stuck. There are several students there with decades of investing experience who are happy to clear up confusions and share knowledge. Ianieri also participates on that site.

The site also offers regular, free, interactive Q&A “webinars”, where students can ask Ron Ianieri and Chris Rowe questions live. And the site offers some tools, like option chains with an optional custom filtering function (for finding only out-month options with “suitably high” delta); an options calculator (theoretical calculations of option values and Greeks, based on the binomial pricing model); and a graphical volatility cone generator (give it a ticker symbol, observation period, days to expiration, and current implied volatility, and it graphs the historic volatility of the underlying against time, plotting the mean and a couple std deviations on each side).

The site also has online quizzes to take after completing each lesson, and a variety of ways to earn “points” (e.g., passing a quiz earns points).

All that “social stuff” may or may not be to your liking. I didn’t think I’d like it, but turned out I did

In short, it’s an excellent course, but much of the material can be gotten from Ianieri’s book instead. The less you know at the start, and/or the less confident you are that you’ve truly mastered it, the more valuable all the focused Q&A help & webinars on the companion website will be. Is the latter, and the DVDs, worth about 2 grand more? It was to me, but I don’t at all mind paying $X for solid ideas I can turn into 1000*$X. Knowing your way around options definitely has that kind of potential, and this is a very solid nuts-to-bolts education on the topic.

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Performance of Picks/Advice	Not Rated
Consistency	Not Rated
Interesting to Read/Educational
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Posted by ML on Oct 28, 2009 @ 4:34 pm

I have to respectfully disagree with Mr. Franklin. His allegations of me lying may well be Tycoon’s attempts to defend the product. I hate to disappoint the insightful Mr. Franklin but his assertion of my identity is a miss. I am not a competitor, just a private party and a soon to be ex-subscriber to options GPS. There is no need to try misstating my comments as they had no bearing on the course material and merely reflected the poor production quality of the DVD set, as well as the unacceptable deficiency of the customer service. To be specific, the package I have received had one missing disk, two duplicate ones, one with corrupted autoplay, and one with defective video file (not a physical DVD defect but that doesn’t help). I am happy to state that the rest of the contents were viewable and the video quality was in fact good. I doubt however that a $2500 package with the defects specified above can qualify as “the best in the business”. I did in fact like Ron’s delivery of the course material and hope he finds better luck with Tycoon but find Mr. Franklin’s praise of the product quality a bit disconnected from reality. Ultimately however it was the combination of the above production defects and the poor customer service that made me terminate my subscription.

Overall Rating	Not Rated
Performance of Picks/Advice	Not Rated
Consistency	Not Rated
Interesting to Read/Educational	Not Rated
Customer Service	Not Rated
Value for the Money	Not Rated

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