Investing Academy
Options track · learn options trading one level at a time, like Duolingo
Unit 1 · What Are Options?
Understand the essence of options: rights, obligations, and contract terms
Unit 2 · The Four Basic Positions
Profit and loss structures of buying and selling calls and puts
Unit 3 · What Value Is Made Of
In the money / out of the money, intrinsic value, and time value
Unit 4 · How Options Are Priced
Pricing factors, implied volatility, and put-call parity
Unit 5 · The Greeks
Use Delta, Gamma, Theta, and Vega to quantify risk
Unit 6 · Three Core Beginner Strategies
Covered calls, protective puts, and cash-secured puts
Unit 7 · Spreads and Combinations
Vertical spreads, straddles, iron condors, and butterflies
Unit 8 · Execution and Risk Control
Exercise, assignment, liquidity, and position sizing
⏳ Chapter Boss: Theta Reaper
「Your time value belongs to me — every single day.」
🔒 Complete every lesson in this chapter to challenge
Unit 9 · Advanced Volatility
Smile, skew, term structure, and volatility risk premium
Unit 10 · Advanced Greeks and the Market-Maker View
Second-order Greeks, gamma hedging flows, and margin
Unit 11 · Time-Spreads and Advanced Strategies
Calendars, diagonals, ratio spreads, and synthetic positions
Unit 12 · Advanced Trade Management
Rolling, earnings-event trading, and trading systems
🐉 Chapter Boss: Volatility Dragon
「One sneeze from me and your vega is hospitalized.」
🔒 Complete every lesson in this chapter to challenge
Unit 13 · Probabilistic Thinking
tastylive Mechanics I: POP, 16 Delta, and the time window
Unit 14 · Systematic Trading
tastylive Mechanics II: small sizing, portfolio checkups, and defense
☠️ Chapter Boss: Margin Call Reaper
「I collect umbrellas precisely when the rain is heaviest.」
🔒 Complete every lesson in this chapter to challenge
Unit 20 · Futures and Margin
Two-sided obligations, daily settlement, roll decay
Unit 21 · Interest and Carry
Pricing's gravity: carry, dividends, synthetic loans
🚂 Chapter Boss: Roll Devourer
「You move house every month, and every month's rent lands in my pocket.」
🔒 Complete every lesson in this chapter to challenge
This course is for educational purposes only and is not investment advice. Options trading is high risk and can result in the loss of your entire principal.