The Grand Quiz: Prove You Were Paying Attention

🎓 The Grand Quiz

You've made it through all seven lessons. Now it's time to find out if you were paying attention — or if you were just staring at the pretty payoff diagrams.

This quiz covers every lesson. 12 questions. No time limit. No partial credit. Score at the end.

Section 1: Options Fundamentals

1. You buy a $120 strike call for $3 when the stock is at $115. At expiration, the stock is at $128. Your profit or loss per share is:

2. What is the MAXIMUM possible loss for someone who SELLS (writes) a naked call option?

3. The premium of an option consists of:

Section 2: The Greeks

4. An option with a delta of 0.70 means:

5. You bought an option and you check on it the next day. The stock hasn't moved at all, but your option is worth less. Which Greek is responsible?

6. "IV Crush" after an earnings announcement primarily impacts which Greek?

Section 3: Strategies & Risk

7. An iron condor consists of:

8. A cash-secured put requires you to:

9. The Pattern Day Trader rule requires a minimum of how much equity if flagged?

Section 4: Market Mechanics

10. Open Interest measures:

11. "Max Pain" theory suggests that:

12. What is the biggest risk of placing your entire account into far OTM weekly options?

Community & Continuing Education

This course gave you the foundation. Real wisdom comes from practice and community:

  • r/options — The serious options subreddit. Less memes, more actual discussion.
  • r/thetagang — For premium sellers. The anti-WSB, focused on consistent income.
  • r/wallstreetbets — For the loss porn and occasional genius. Entertain, don't emulate.
  • tastytrade — Free options education platform. Daily live shows, research, strategy guides.
  • Option Alpha — Data-driven options education. Free courses and backtesting tools.
  • Paper Trading — Every major broker (Thinkorswim, Tastyworks, Webull) offers paper trading. Use it. Test strategies risk-free for 3-6 months before deploying real capital.
Final Word: Options are the most powerful retail trading instruments ever created. They can hedge risk, generate income, and produce life-changing returns. They can also destroy accounts, marriages, and mental health. The difference isn't intelligence — it's discipline, risk management, and the humility to know that nobody beats the market every time. Position size is everything. Survive first. Profit second.