OptionsGeek is run by Felix Frey and there you can find option related services.
They can be a little pricey..
Before spending money I'm sure you want to know if they're scams or not.
That's what this review will answer.
Below you'll find everything you need to know about this company including background information, prices and a look into Felix's past.
You'll know if OptionsGeek is trustworthy if you read this entire review.
Let's get started!
Creator: Felix Frey
Price to join: Depends on service
Do I recommend? Yes!
Overall rating: 4/5
OptionsGeek is a good place to learn how to trade options.
The owner spent a decade at prestigious investment banks and is more than capable of teaching option trading.
Additionally, the cost of the services is reasonable.
Overall, I'm happy with OptionsGeek.
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Felix Grey - Someone You Want To Learn From
I'm really tough on the people that I review.
My stance is usually these guys are making millions and there's no reason to give them the benefit of the doubt.
The reason for this is there's plenty of scoundrels in the stock picking and stock education world.
At the end of the day it's easier to become a millionaire selling stock products then it is picking stocks.
Many people will gladly sell you an investing service, even if they're not qualified, to become rich.
However, Felix Frey doesn't fall into this category.
He's more than qualified to run OptionsGeek and he's exactly the type of guy you want to learn from.
The reason for this is he had a long career at reputable firms.
Often you'll see stock gurus who are self taught or only worked at sketchy firms but that's not the case with Felix.
Anyone that buys and sells securities on behalf of a customer has to register with Finra.
You can search Finra's records to see what licenes a broker has and where they've worked.
After graduating from the prestigious Wharton Business School, Felix worked for SBC Warburg and later Swiss Bank Corporation after they acquired SBC Warburg.
Next he became Executive Director Of Equity Derivatives at Bank Of America.
Later he was the Executive Director at Jefferies & Company, which manages hundreds of billions in assets.
You don't get these jobs unless you're good at what you do.
From 2007 on Flex exclusively focused on options.
He became head option trader at Scoggin Capital Management (never heard of this place and couldn't find much information on it) and began option consulting.
In 2018 he launched OptionsGeek.
So this is what you want out of an options educator.
The idea of a self taught option trader is romantic but I'd avoid anyone like that.
Stick to the professionals.
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The Top 1% Club (Free)
The Top 1% Club is a free training program provided by Felix.
It's broken into both beginner and intermediate.
This is definitely a nice little course if you're new to options and it's cool that Felix gives it out for free.
Many people will charge money for this kind of training.
Here's what you get:
The beginner program is broken up into 4 parts and covers all the basics of options.
The parts are:
In the getting started section you'll learn what an option is and who uses them.
Additionally, you'll learn the different kinds of option traders and how you can become profitable.
Calls And Puts
After that you'll learn the difference between calls and puts.
Also, you'll get training on the difference between buying and selling options.
Thinking Like The Top 1%
Next you get some mindset training.
This includes insights Felix has gotten from years at some of the top investment banks in the world.
Introduction To 3 Steps To Profit
This is where Felix starts to promote his premium course.
You'll get a few more training modules and then you'll get the pitch to upgrade.
The intermediate section is for people that have an understanding of options already.
This will cover concepts beginners won't comprehend quite yet.
Additionally, you'll get pitched the premium course here as well.
3 Steps To Profit ($397)
3 Steps To Profit is the premium training course from Felix Frey.
The whole point here is to teach you how to use options the way top investors do and not like retail investors do.
Here's how the course is broken down:
Step 1: Education
The first step to becoming a 1% option trader according to Felix is education.
3 Steps To Profit claims to teach you how to get a mathematical edge trading options that makes winning easier.
Additionally, they claim they can teach it to you in an easy to understand way - it won't be wonky or boring trading.
You'll get a combination of video training and 150 Q&A workbooks.
Step 2: Tools
The second step revolves around having the right tools for success.
If you buy this course you'll have access to Felix's patented option tool.
The Option Chain is the biggest tool.
This product helps you find options that gives you a mathematical edge.
Additionally, you get the following:
- Unusual Options Activity Scanner
- Open Interest Tool
Step 3: Profits
The last step in the program is to profit - you do this by coming up with a trading plan.
The idea here is to not only find winning trades but also how to manage your losing trades.
Lastly, you'll learn how to find winning ideas.
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Winning Picks Premium ($197 Per Month)
The next service is trade alerts.
Basically when Felix finds an option trade he likes he sends you an alert and then you make the trade.
Here's the results he claims he's gotten over the last few years:
These results are fantastic but you have to keep in mind your results will look different.
Felix notes this right under the results:
When option alert goes out it's likely the price may change by the time you're ready to execute.
Additionally, these results have a specific plan to deal with loses.
In this case Stop-losses of 50% are recommended.
However, Felix does mention the results estimated here are conservative which means you can probably obtain them.
1 on 1 Coaching
Lastly, you can get 1 on 1 coaching from Felix.
If you buy the training course the 1 hour training will cost $100 per hour.
In this training session Felix promises to help you develop a trading plan and help you get started with options.
The training is flexible as well.
Felix claims he can help people who are beginners and advanced as well as people with small accounts and big accounts.
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Still have some questions about OptionsGeek?
Here's some answers to any questions you might have:
1) Is The Cost Fair For OptionsGeek?
I do think the price is fair.
Firstly, you get a pretty good free training program. Any person new to options will benefit from this course.
Also, you'll be able to tell if options is right for you.
After that the course is only $397.
Felix is a legitimate option expert and learning from him is invaluable.
Someone like him could easily charge thousands of dollars for training.. so $397 isn't bad at all.
Lastly, the alerts service is $197 per month.
Again, alternative services are much more expensive than this.
2) Is There Any Refunds?
This is my biggest problem with OptionGeeks.. there's no money back guarantees.
The training has just a straight up no refunds policy.
This is disappointing to see.
Maybe the rationale is there's free training so they don't give money back.
Typically you want to see SOME sort of refund policy.
The alerts only come with a guarantee if you buy the annual plan.
If you're an annual member you get a free year if Felix doesn't deliver 50 trade ideas that reach 100% or more.
Monthly member don't get a refund.
3) Is Felix Frey Legit?
I'm tough on the people that sell stock picks.. if I get any whiff of fraudulent behavior I call it out.
I don't really see any red flags with Felix, though.
He's worked at some prestigious places for over a decade - the kind of jobs that only hire the best of the best.
Additionally, he's a Wharton graduate which again shows you're dealing with an extremely smart person.
Felix is the kind of guy you want to learn from.
4) How Much Do I Need To Trade?
The minimum you need in your account is $1000 but you'll need more than that.
If you look at the alerts results you'll see you can get anywhere from negative returns to around 100% returns a month.
The average seems around 30%.
If you're trading with $1000 you'll barely profit after fees and the cost of the alert service.
I'd say a good amount is anywhere from $5,000 to $10,000.
This ensure you can profit when doing average and paying the cost of the alert fees.
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OptionsGeek Pros And Cons
I typically go into reviewing programs like this very skeptical.
I always check Finra records to match up what they're saying to see if it's true.
You'd be surprised how many times people just lie about their experience or are using fake names.
But when I checked Felix's Finra records every checked out.
He's not lying about his resume which is very good because his resume is impressive.
You really want to avoid Youtubers and online gurus who have no serious background in trading.
Many of these people got rich from their Youtube channels and make money almost exclusively from selling products.
Felix has a decade of investment bank experience and over a decade focusing solely on options.
To top it off everything is well priced.
Would have liked to have seen a refund policy, though.
So before buying make sure this is something you want to do!
My advice is to take the free course and see if this is something that truly interests you.
If it does OptionsGeek is a good place to learn.
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I like OptionsGeek a lot and if you want to get into options this can definitely work for you.
The good news is there's still a lot of good places to get stock picks.
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