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Homemade Options

The 3:00 PM ticket, the 43¢ Rule, the +40% sell and the 10-session timer

28 questions about Homemade Options

What is Homemade Options?A tool that cooks one kind of options trade from scratch every trading day: at 3:00 PM ET it reads the live option chain and serves up to 3 ready tickets, each a bullish call debit spread, and only when it is on sale under the 43¢ Rule. Read the full answer Where do I find my Homemade Options dashboard?In your members area: sign in with the email you paid with and open Homemade Options. The Today tab shows the day's tickets from 3:00 PM ET. Read the full answer How do I take a Homemade Options ticket?Between 3:00 and 4:00 PM ET, place the spread at your broker as one order with a limit at or under the debit on the ticket. Once it fills, place a GTC sell at +40%. If that has not filled by the 10th session, close it yourself that afternoon. ▶ videoRead the full answer How do I read a ticket?A ticket is the whole trade: the call to buy, the call to sell, the expiry, the debit (the most to pay, per share), its price in cents per 1 dollar of width, the most it can make, the breakeven, and when to sell. Read the full answer What is the 43¢ Rule?We only serve a spread that costs 43¢ or less for every 1 dollar of its width. The less you pay for each dollar the spread can be worth, the more it can make for what you risk. ▶ videoRead the full answer I have a meeting at 3:00 PM. What if I miss it?The tickets stay on your dashboard: you have until the 4:00 PM ET close to fill at or under the debit. That last hour is the window the record is built on. Read the full answer Can I take a ticket the next day?You can, but it is your call: the record only counts fills by 4:00 PM ET on the cook day, and by the next morning the price has moved. Ben takes them from 3:00 to 4:00 PM to stay consistent. Read the full answer How much money do I need to start?Only what one spread costs, and an amount you are fine losing. Each ticket shows what one spread costs before you place it; many cost under a hundred dollars. Put about 1% of your account on each ticket. ▶ videoRead the full answer Which broker should I use?Any broker that allows call debit spreads (vertical spreads) works. We use and recommend Robinhood: call debit spreads in a few taps, on your phone. ▶ videoRead the full answer Can I do this from my phone?Yes. Open your dashboard in your phone's browser at 3:00 PM ET, then place the spread in your broker's app. No charts or indicators are needed. Read the full answer Do I need to watch charts or use indicators?No. The kitchen reads the prices and the option chain for you: you take the ticket as served. You can look at a chart if you like, but you don't need to. Read the full answer Will every ticket win?No. Some tickets lose, and some burn most of what they cost. Every one is on the record, wins and losses, on the Plated view of Recent recipes. Read the full answer Why are there no tickets today?Nothing on the menu was at a fresh 20-day high with a spread on sale at 3:00 PM ET, so nothing was served. We don't force a trade. ▶ videoRead the full answer How many tickets a day, and on which tickers?Up to 3 a day from the menu: the index funds, the big names members trade most, and the sector funds. The Chef's Table cooks its own top 3 from extra tickers, kept apart. Read the full answer What are the 10-session timer and the last day?Each ticket lives for 10 trading sessions after the fill. If the +40% sell has not filled by then, close the spread yourself on the 10th session in the afternoon. The ticket shows that last day. Read the full answer How does the +40% sell work?Right after your spread fills, place a GTC (good till cancelled) limit order to sell the same spread at 40% more than you paid. The ticket shows that price. It sits at your broker until it fills or you cancel it on the last day. ▶ videoRead the full answer Does the stock need to go up 40%?No. The +40% is on the spread you paid for, not the stock. Often the stock only needs to rise a few percent, because an on-sale spread is cheap for what it can be worth. Read the full answer What do Well Done, Chef's Surprise, Taken Off the Heat and Burnt mean?They are how a closed ticket is stamped: Well Done · Chef's Kiss when the +40% sell filled; Chef's Surprise when it jumped overnight past +40%; Taken Off the Heat when it closed on the last day; Burnt when that close was down 50% or more. Read the full answer How is the record scored, and where do I see it?On Recent recipes → Plated, live from every on-sale ticket served. Wins caught during the day count at +40%, what your GTC sell gets; an overnight jump counts what it was worth at our 9:45 AM check. Read the full answer Do the tickets come to Telegram, Discord or my phone?Every ticket is on your dashboard at 3:00 PM ET. Homemade Options Alerts, an add-on, also sends each ticket, the +40% Order up and the last-day reminder to Telegram and Discord; its Join buttons are on your Homemade Options page. Read the full answer What are Preheating, Almost ready and the Preheat pings?They show how close each menu ticker is to its 20-day high: Prepping, Preheating (within 3%), Almost ready (within 1%) and In the Oven (at or over it). From 10:00 AM ET, a ticker that reaches Almost ready gets one Preheat ping that day. Read the full answer How does the Pantry Search work?Pantry → The Pantry Search: type any ticker and the kitchen cooks its recipe now, from its live chain, the same way it cooks the menu. It is a read, not a served ticket, and not on the record. Read the full answer What is the Chef's Table?Extra tickers cooked at 3:00 PM ET with the menu, with their own top 3 and their own record: IWM, DIA, GOOGL, AVGO, NFLX, COIN, PLTR, MU, JPM, XOM and COST, plus pantry tickers whose options trade tight. Read the full answer What is Secret Sauce?Pantry → Secret Sauce: from 3:05 to 3:45 PM ET, the cheapest spreads across the whole pantry, the menu and the Chef's Table, ranked by cents per 1 dollar, at a high or not. A look behind the scenes, not served and not on the record. Read the full answer Where are the Quick-Start Guide and the Founders Cookbook?Both are on your Homemade Options page. The Quick-Start Guide (Pantry → The Quick-Start Guide, 10 short chapters) is for every owner. The Founders Cookbook, for the first 100 founders, is a download on the same page; we email founders the moment it is ready. Read the full answer Is my founder seat really lifetime?Yes. A founder seat is one payment for Homemade Options for life, with no monthly or yearly fee. The kitchen keeps cooking every trading day at 3:00 PM ET. Read the full answer Is there a guarantee? How do I get a refund?Yes: Homemade Options comes with a 14-day money-back guarantee. Start on a Monday to see two full weeks of tickets; if it is not for you, email support or open Support in your members area within 14 days. Read the full answer Is Homemade Options financial advice?No. It is an educational tool that finds cheap spreads and shows its work. You make your own trading decisions, and every spread can lose what you paid for it. Read the full answer
Micheal Ukadike
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