Starter
Options Fundamentals
Understand what options are, how they're priced, and how investors use them for income, speculation, and hedging.
Before this course
These cover the assumed background. You can start here anyway — nothing is locked.
Lessons in this course
Work through them in order, or jump to whichever fits where you are. Every lesson is free and saves your progress locally.
- 01Calls and Puts: The Building Blocks
- 02Options P&L: Calculating Profit and Breakeven
- 03Moneyness, and Reading Delta as Probability
- 04The Four Greeks: Delta, Theta, Gamma, and Vega
- 05Delta: Direction, Odds, and Share-Equivalent Exposure
- 06Theta in Depth: How Time Decay Actually Bleeds an Option
- 07Gamma in Depth: The Curvature That Moves Delta
- 08Vega in Depth: What You Are Really Paying for Volatility
- 09Implied Volatility: The Options Market's Forecast
- 10Covered Calls, Cash-Secured Puts, and Protective Puts
- 11Intrinsic vs Time Value: The Two Halves of Every Premium
- 12Assignment, Exercise, and the Early-Exercise Surprise