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TastyTrade.com

https://www.tastytra..
Category: Websites

New financial network from creators of thinkorswim threatens to make finance fun. Wall Street squawk meets improv talk, live, 7am CT - rebroadcast 24/7.

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Not so tasty all the time.
Tastytrade is an online financial network that vaguely styles itself after Howard Stern's format, although less offensive more politically correct. The format focuses on options and futures plays with little edginess with the esception of the occasional double entendre. The show is an excellent source for educating people on options. The subscription is free with an Ameritrade account.

The staccato and sometimes dismissive delivery from the host Tom Sossnoff is tempered by the more polished Brooklyn Italian side kick in the yes man style of Ed McMann, However Tom Sossnoff is neither Johnny Carson nor the Shock Jock Howard Stern himself. Both men are highly skilled and experienced in options and futures trading with over 50 years combined CBOE floor experience.

Tastytrade invests heavily on advertising that seem to only appear on the show. These are quite witty and entertaining and almost worth the price of admission. He mocks the obnoxious self promoting market pundit Jim Cramer as well and the absurdity of more mainstream financial broadcasting networks.

Tastytrade also responds to 100% of emails and provide detailed analysis of their trades in each response. They accurately stand behind their promise to do so.

The gregarious Mr. Sossnoff tirelessly promotes active trading, urging subscribers to place many trades pointing to the law of large numbers to provide a handsome profit. ( He estimates making over 5000 trades for 2012) This suggests that he is closely aligned with Ameritrade which purchased the Think or Swim trading platform he developed. Ameritrade most likely benefits from the increased trading volume due to his prolific number of trade suggestions.

Mr Sosnoff is a proponent of the random walk-- efficient market theory, which holds that markets are not predictable and therefore directional trades are pointless. Despite this philosophy, Mr. Sossnoff often places directional options and futures positions. He admitted once that he makes very little money on these futures but he does it to stay engaged. In another segment he makes the claim that few pit traders will trade futures after leaving the floor. His trading approach hangs its hat on the volatility card, where volatility crush supposedly provide excellent payoffs following earnings or elections on the highly risky open ended Strangle plays and naked put option positions.



Mr. Sossnoff never misses the opportunity to remind everyone that Tastytrade is different than all other financial networks because they put their money where their mouth is and actually place the trades they suggest. They deserve much credit for this, however they fail to provide an accounting of the trade performances and grotesquely under report their loses. When asked about this they stood behind a legal curtain( while their affiliate shadow trader is more transparent here with a record of their trade suggestion --which generally trails the general market) . Mr Sossnoff has also, on occasion, failed to indicate adjustments to option plays on losing positions while touting the minimized losses to viewers. Options trades have a higher occurrence of wins when credit or positions are "written" in the same way the investor acts as an insurance underwriter selling risk management. However when the minority of trades go awry like a devastating hurricane costing insurance companies great sums of money, they may more than make up for the profitable trades especially on unlimited risk plays like strangles. One such example is with Starbucks (SBUX):.

Mr. Sossnoff's SBUX trade exceeded the expected move ( outside the volatility range) and became highly unprofitable. Each original position consisted partly of 3 short calls which are generally bearish. However when SBUX earnings "blewout the numbers" the stock rallied as if on caffeine and all followers of the Pied Piper took a hit to their account. However, when he refers to the trade, he only made mention of a .90 loss not the 2.70 loss and he failed to account for the loss that most viewers took which was closers to 1.33 per contract (which is 4.00 total)-- since they failed to make the adjustment he made. He reported his losses on YUM brands (YUM) similarly, declaring he closed at break-even because he bought stock to cover his losses in after hours trading. Recently he took a big loss on ANF when it moved outside his expected move- stating that the probability of this was about 1 percent. This trade was purchased for about .06 but will incur about a 4.00-5.00 loss per contract. Mr Sosnoff qualifies these trades as small, however he never indicates the sizing of any of his positions.

While Mr. Sossnoff claims to be different than other financial broadcasts and touts an edge by trading volatility, in reality his fiscal performance is no better than any other newsletter and probably not much better than the 50/50 win rate experienced most of the directional traders and pundits, he mocks.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Full of great options trading material
Diverse coverage of option strategies and statistical based trading strategies. Break down theories and strategies very well. Very entertaining shows, makes the show enjoying to watch every day.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
2 of 2 people have found this review helpful.
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Vecor Glendora, Ca

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Entertaining and educational!
Love the atmosphere back at the tastytrade office, the show is entertaining and Tom and Tony are specialists. They can make it sound so easy, and its great when they get some debate going on!

Their site is really well organized... I really recommend you listening to the show!!

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Tony_Ros Den Haag

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Tastefully interesting
Pleasantly surprised how well organized this site is. Liz and Jin is a great way of marketing towards the dorks of traders of us alike. Overall very enjoyable and clean. Not too gimmicky and annoying, I like how it's put together.

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Investing Made Fun
The fact is trading can get boring and lonely. These guys have made it fun for me again. I can laugh and learn at the same time.

The value is unbelievable. You get full access to over 100 years of professional trading experience between Tom, BAT, SLM, JNY, and LIZ. Plus, the vouchers pay for the membership fee and more. I cut my commissions in half because I can use their voucher program. Heck, I would sign up for the vouchers alone.

Their customer service is top notch across all industries. My emails are almost always answered within an hour or two. If not within a couple of hours, definitely by the end of the day.

I agree with another reviewer that they will get you trading. They will show you that trading can be fun. They will teach you how to trade like the pros instead of all the gimmicks that so many other websites try to sell you.

It takes a while to figure out their programming... when they talk about what. But if you're just getting started with them, check out their recorded segments. You''re sure to find something you like. You can't go wrong with Good Trade / Bad Trade, Strategy Discussions, and Last Call.

If you're on the fence, just listen to their call in session. You will hear almost every caller give thanks to what what they are doing.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
2 of 2 people have found this review helpful.
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delicious trading
Always liked trading videos. These guys come out with some really cool stuff. I like Tim knight a lot.

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Tasty Trade will get you trading
I have traded options since 1987 when I was long OEX Puts approaching Black Monday. I am a former Air Force instructor pilot (T-38) and Delta Air Line pilot. Now I trade full time and am mentoring my two grown children to be self-managed investors. Self-managed investors are what Tom Sosnoff (and his wonderful crew) are creating every day. The number of people who have turned off CNBC and turned on Tastytrade is staggering...and for good reason.

The only way to understand options work is to trade them. Forget the definitions, forget the books, forget the pundits and forget your fears. Tastytrade will encourage and motivate you to trade effortlessly and to implement a strategy based/probability based paradigm that will work. Personally, I was amazed at how quickly I was able to simplify my analysis and just trade.

This has created a chain of wonderful events. Both of my children and my wife are watching Tastytrade. We then talk about the shows and I have been able to answer questions that arise from their watching the show. The recent addition of the Liz and Jenny Show and the Ask Slim helps novices 'cut to the chase' and learn what matters. I never thought the day would come when my lovely wife would come to me and propose a valid calendar trade. That order is 'working' as I am writing this review.

So if your trading is sluggish, painful or non-existent I can guarantee you that Tom, Tony, Tim, Liz, Jenny, Slim and the daily guests will rock your world with their fresh approach.

And whatever you do, sign up to be a member so that you can utilize their voucher program and watch their market wrap show.

Thanks to Tom and his awesome staff for changing the lives of so many people.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
4 of 5 people have found this review helpful.
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Robkid Park City, Utah

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Market Commentary with a Spin
I really enjoy this site. It's not your same old drawn out market commentary, but it is definitely entertaining. I like the fact that Tom is non-biased in his opinions.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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LuvOfMoney Scottsdale, AZ

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Great Insight
Have been listening to Tom and Tony's show for about two weeks. Really great info and entertaining. I will become a member soon and take advantage of the superstore too. Clients can get nice discounts at Thinkorswim (commission savings) and many other financial providers.

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Gmatt539 Seongnam, Gyeonggi

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Tom Sosnoff does it again!
I have worked for and with Tom Sosnoff for over a decade, first as a vendor, and then as a business partner. I was thrilled when I heard he was starting TastyTrade, which has been a dream of his for a long time. It's high time the world of trading/finance media got shaken up with an entirely new approach. I think TastyTrade is going to surprise everyone. They have no advertisers, thus no bias.............and Tom/Tony's contrarian slant on the market is a breath of fresh air.

Best of luck to Tom and his team!

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
2 of 3 people have found this review helpful.
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