Before you start applying your knowledge of the options market to your investment portfolio or trading strategy I recommend you open a virtual account and experiment with options for yourself. Having a virtual account will be especially useful when we start discussing more complex options positions next week.
I am recommending Optionshouse.com for a virtual trading, they have lower commissions and web based software that fits me well. However, if you are planning on trading with another broker - open a virtual account there, different commission structures make different trades more or less attractive.
Link to open a virtual account at Options House: http://www.optionshouse.com/virtual/
-Spencer Sundahl
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