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ASX Options Game: Long call on Woodside Petroleum fuels winners’ success

December 2, 2020

ASX Options Game: Long call on Woodside Petroleum fuels winners’ success

The latest ASX Options Trading Game has come to an end with Victorian player Jack Golding managing to take the top spot.

The latest ASX Options Trading Game has come to an end with Victorian player Jack Golding managing to take the top spot.

A lawyer by day, Mr Golding proved he’s also a deft hand when it comes to trading. In the space of four weeks he turned his original $50,000 into a staggering $398,238.76 – delivering a return of 696.48%.

While a far-cry from Moon Patel’s record-breaking 3331% return in the final trading game of 2019, Mr Golding still finished up roughly $100,000 clear of his nearest competitor.

And he managed to do it all in only three trades, with a smartly-placed long call on Woodside Petroleum (ASX: WPL) fuelling much of his monstrous success.

The top five players in the October-November 2020 Options Trading Game

 

Even though Mr Golding only made a handful of trades, long put and call options typically pay off for players who get the direction of the market right, thanks to the leverage these options give traders.

This trade is explained by professional Options traders Ivan Tchourilov and Patrick Nelson in the video below, so check it out if you’re interested to learn exactly what Mr Golding and some of the other top players did to earn their spots in the leaderboard.

If you would like to start trading too, you can do so in a couple of different ways. You can either take a 30-day trial to our Implied Volatility options trading platform. Click here to get started.

Or you can join the next ASX Options Game here to compete against other traders in a market simulation.

Past performance is not a reliable indicator of future performance.

Trading options is not suitable for everyone. There is a risk that you can lose more than the value of a trade or its underlying assets. You should only trade if you are confident that you fully understand what you are doing. If you are thinking about acquiring a financial product, you should consult our Financial Services Guide (FSG) at www.reachmarkets.com.au first.


General Advice Warning

Any advice provided by Reach Markets including on its website and by its representatives is general advice only and does not consider your objectives, financial situation or needs, and you should consider whether it is appropriate for you. This might mean that you need to seek personal advice from a representative authorised to provide personal advice. If you are thinking about acquiring a financial product, you should consider our Financial Services Guide (FSG) including the Privacy Statement and any relevant Product Disclosure Statement or Prospectus (if one is available) to understand the features, risks and returns associated with the investment.

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