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The crazy thing this stockbroker did still haunts me!

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I'll never, ever forget it
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During my first week as a stockbroker, I witnessed one of the most disturbing scenes I ever saw.

It had to do with options… and… it still kind of haunts me to this day.

Back when I started in the brokerage business in 1984, most brokerage firms had a "bullpen."

This "bullpen" consisted of a cluster of four desks and one Quotron machine on a swivel in the middle so the brokers could spin it around and look at quotes when they were on the phone with a customer… because customers could not get quotes without calling a broker – imagine THAT!

Anyway…

In the corner of the bullpen were four desks set up this way.

But one guy… Izzy Glass and his partner… dominated the Quotron machine…

They stared at it all day, every day…

I couldn't understand why.

On the third day, just after the market opened, Izzy fainted.

Collapsed.

The kind of collapse where the guy doesn't even use his hands or arms to break his fall.

Just crashed.

They called the ambulance.

Hauled his ass out on a stretcher.

I never saw him again.

His partner cried like a baby.

He never came back either.

Why did Izzy get hauled out on a stretcher?

As a new stockbroker, this rattled me…

Nobody expects their co-workers to pass out in the office…

And it had a somber effect on the whole office.

I asked the manager what happened to Izzy.

He said, "Carter, options are a ZERO-sum game."

At the time, I didn't know what that was supposed to mean, but it scared me away from options…

For a little while…

He also told me that most people lose all their money when they buy options.

Izzy and his partner bought options they expected to soar in price.

Didn't happen.

Problem was, Izzy bet the farm… so did his partner.

They invested money they could NOT afford to lose.

And when the stock failed to go up, the value of Izzy's options went DOWN… every day… until they were worthless.

Watching this play out every day… the stress of this trade almost killed Izzy.

Here's what I want you to know:

1. NEVER invest or trade more than you can afford to lose. Because anything can and will happen in the stock market.

2. The time decay of options erodes their value enormously the closer they get to expiration. (You want this time decay factor working FOR you… not against you).

Part #1 you can figure out how to do on your own.

Part #2 is something I'm going to fully explain to you and how you take advantage of it starting Monday.

Learn the full details on that by watching this video

Trade Well,

Jack

P.S.: Don't forget: I'll be LIVE with Roger Scott at 3:00 PM ET today. Keep a close eye on your inbox for your access link. Expect the first one to come in by 2:00 PM ET!

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