My name is Aram Basmadjian and I started this website to share my options trading experiences with others. I have always been interested in the markets and started studying them when I was very young. I became inspired by a young, local trader who had just made his first million trading options on the Philadelphia Options Exchange. He was only 21 and his name was Jeff Yass. As a young boy, I corresponded several times with Jeff and he provided valuable insight into the markets. Jeff later went on to co-found Susquehanna Investment Group, one of the largest trading firms in the world.
Despite my passion for the markets, I pursued a career path that has provided me with a multitude of wonderful experiences. From a young age, I studied music and toured full-time for many years as a classical organist performing solo concerts in over 50 cities every year. Another passion, aviation, pulled me yet in another direction and provided me with the opportunity to fly the Canadair Regional Jet as a captain for SkyWest Airlines. During that time I also passed the Series 7 and Series 65 exams and worked as a financial advisor for Royal Alliance Associates.
I started trading options when I was 21. I worked with several stockbrokers that considered themselves “options experts”. We would purchase options on underlyings that we believed were poised for a large move up or down. Even when I was directionally correct, the stock never moved enough to generate a profitable trade, let alone one that would cover the twenty dollar ticket charges. After losing lots of money, I decided to take a break from trading. After continuing to study the markets and options trading, I realized that the only way to consistently make money in the options game is to be a net seller of options, not a buyer of options. This knowledge coupled with the significant decrease in commissions and availability of online trading platforms made me realize that the time was right to try trading again.
I am not a professional trader. In fact, I do not trade full-time, nor is trading my sole source of income. Trading options is not a get-rich scheme. However, by following conservative trading principles, there is the potential to generate healthier returns than provided by passive investing (buy and hold). I have made lots of mistakes and lost lots of money on my path to becoming a better options trader. The purpose of this site is to share the lessons that I have learned in trading and possibly inspire others to give it a try.