Options Brokers

Options represent a form of gambling where the odds are not in your favor. 

These financial instruments, known as derivatives, do not involve direct investment in a company and therefore don't yield dividends or traditional cash flow to investors. Essentially, derivatives operate on a zero-sum principle: one individual's gain of $100 directly translates into another's loss of the same amount. Moreover, due to substantial spreads between buying and selling prices, it's more accurate to say that for every $100 gained, about $102 is lost by others, factoring in the 'house' cut, akin to a casino's operations.

Furthermore, options trading doesn't offer a 'buy and hold' strategy. Positions often expire in the short term, compelling traders to engage in another cycle of transactions, which in turn incurs more fees. The scenario is further complicated by the presence of unscrupulous traders in the market. In a zero-sum context, especially with the added drag of transaction fees, any risk-free profits generated from trading on inside information (a common practice due to the leverage provided by options) are essentially funded by losses incurred by uninformed traders like you.

However, it's worth noting that options can have legitimate uses for insurance, hedging, and tax deferral and may be considered investment-grade under certain conditions. To illustrate, if you were able to acquire a one-year call option on Apple without any cost, it would be a far better deal than directly owning the stock - all upside and no downside. In this hypothetical scenario, the option seller would invariably be at a disadvantage, losing in all instances where the stock appreciates, and at best, breaking even if the stock depreciates. Even with zero commission (and the non-existent zero spreads) you will lose money over time in the options market compared to long term ownership of stocks, bonds, or real estate.

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