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The ASX Options Game: Past Winners Review

October 2, 2019

October 2, 2019

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The ASX Options Game: Past Winners Review

The ASX Options Games kicked off this week! With the goal to paper trade your way to the top of the ladder, experienced and new traders alike can compete for bragging rights, cash prizes and become a better trader.

The ASX Options Games kicked off this week! With the goal to paper trade your way to the top of the ladder, experienced and new traders alike can compete for bragging rights, cash prizes and become a better trader.

As the game is only just beginning, it is a good time to look back on some of the previous winners and review their strategies, trades and lucky breaks that helped them to win it all.

 

Options Game: June – July 2019

This was one of our strongest performing games, due to an increase in educational resources for all players. There was an average return rate of 80% across the board, with many of the players engaging in low difficulty long call and long put strategies.

  • Winner: Adrain VIC
  • Final portfolio: $106,019
  • Return of 112%

Adrain from Victoria reigned victorious, despite having never previously traded Options. He traded 17 positions and more than doubled his starting balance of his virtual $50,000.

Adrain used the simple long call and long put strategies, which operate within an unlimited maximum potential profit and a maximum loss of the premium paid. His biggest trade was on Wesfarmers, who had an unexpectedly strong July. Employing a scaled strategy, Adrain took advantage of its market position and bought 3 x 100 on-the-money long calls over several weeks and averaged into a strong trade.

 

  • Runner-Up: Brett NSW
  • Final portfolio: $99,006
  • Return of 98%

Brett from New South Wales was a close second, achieving a final portfolio of $99,006 and placing 20 different trades.

Similar to Adrain, Brett built his portfolio through low difficulty long calls and long puts. However, as the game progressed, so did his confidence, and he began trading LITT long, LITT short and iron condor positions. 

Often preferred by professional traders, the iron condor is classed a low risk income generating strategy, which can work well in sideways markets. 

Options Game: November – December 2018  

During this ASX Options Game, we saw many of the players trade with a professional mindset and implement some strong strategies. Our winner and runner-up more than doubled their starting balances and both achieved their winning positions with minimal bullish trades.

  • Winner: George NSW
  • Final portfolio: $137,005
  • Return of 164%

George from New South Wales was crowned this game’s winner. Trading a huge 93 legs and 57 positions, he was able to increase his return by 164% and take the win.

His most successful trade was the iron condor.

 

  • Runner-Up: Colin QLD
  • Final portfolio: $109,738
  • Return of 113%

Colin from Queensland came in at second place, achieving a strong final portfolio of $109,738. Focusing on long puts and bearish trades, 20 out of his 28 trades were profitable. In line with a professional traders’ mentality, he placed small consistent trades with a spread risk.

His most successful trade was a 220 long put at-the-money trade on Coca-Cola Amatil Ltd, where he paid 6.8k and received $225k of short exposure.

 

Registrations for the current ASX Options Game are now open! Sign up today to start trading your virtual $50,000, learn how to trade through our free educational resources and find out if you’ve got what it takes to win!

Starting playing the ASX Options Game here.

 

 

*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 and the relevant Product Disclosure Statement first.

*Past performance is not a reliable indicator of future performance


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