Trading Options on Futures – Carley Garner

Futures Radio Show
Trading Options on Futures - Carley Garner

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  1. Choosing Options Over Out Rights
  2. Some Ways to Use Options in This Market Environment
  3. Trading is a Mental Game
  4. Technical Analysis for Options Trading
  5. Using Options to Manage Risk


Carley Garner
Senior Broker/Commodity Market Strategist at De Carley Trading

Carley’s Resources

Rapid Fire ?

Q. Who has influenced your career the most and why?

A. Without a doubt, Jim Cramer, has had the largest impact on my career. He has been generous with his time and has been all around supportive and encouraging. Further, he has set an impossible example of work ethic and humility.

Q. Favorite book about trading?

A. Trading in the Zone by Mark Douglas. Above all else, trading is a mental game.

Q. How has your trading process evolved over the years?

A. Several years ago I was convinced responsible option selling against volatility was a viable long-term strategy, but as market structure and logistics have shifted away from the pits toward electronic algorithmic trading, I no longer believe that. I firmly believe all futures or short options speculations must have catastrophic insurance in place to prevent years of hard work from being wiped out in a few days or weeks.

Q. What is one attribute that you believe every trader should have?

A. I believe traders are best served expecting the worst but hoping for the best. This mindset will encourage putting risk management over profits.

Q. What’s the best piece of advice you’ve received about trading?

A. “It is what it is”, leaving the past in the past is imperative.

Q. If you could give the younger you advice after everything you’ve learned about trading, what would it be?

A. Never, even if it is just for a day or a weekend, trade naked.

Q. If you had to elevator pitch me your edge in trading what would you say?

A. Never pay full price for options (sell premium to finance long options) and utilize cheap weekly options to hedge price risk.

Q. Favorite thing to do when you’re not trading?

A. I love hiking through the desert and mountains surrounding Las Vegas with my beagle.

If you enjoyed this interview with Carley be sure to listen to these other episodes:

Evolving As A Trader — Merritt Black

Less About Fundamentals, More About Risk Management – Mark Dow

Futures Radio is a weekly talk show hosted by 21-year futures veteran and CME member Anthony Crudele, an ex-pit trader and one of the first to trade the E-Mini S&P. Each week Anthony talks with traders, CEOs, and other proven market participants about relevant trading and investing information.

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