Sky View Trading Review
Ease of Use
Sky View Trading is an online options education and trade signal alerts service. Sky View Trading claims to help their clients generate income using diverse spread-based strategies. Before you buy, though, find out if Sky View Trading has what you need by reading our thorough review.
About Sky View Trading
Sky View Trading is an online options education and trade signal alerts service co-founded by Adam Thomas and Eli Grelecki. Founded in 2013, out of Seattle, WA. The service caters to all skill levels from beginners to seasoned experts. Rather than directional betting with options, the site focuses on generating consistent income with various spread-based strategies. They offer a generous amount of free content just for registering and boasts a large YouTube following shooting north of 143K subscribers to their channel. These videos provide an accurate “taste” of the style and methodology of the service and personalities.
Styles of Trading
The predominant style of trading is swing trading with various types of spread strategies from single leg covered calls to multi-leg calendar spreads and iron condors. These premium capturing income strategies are essentially market-neutral and mostly effective in low volatility rising markets. However, when market volatility spikes with large intraday swings, the losses mount up quickly. Statistically, low-volatility is the longer-term norm and smooths out the performance in the long run despite periods of high volatility. You will gain lots of quarters but lose in dollars. It boils down to capital and trade management, which is what the site teaches.
The founders provide exceptionally well produced and easy-to-follow training videos, perhaps some of the best I’ve seen. The chatroom is mostly operated by lead trader Cristos Vasiladis, a momentum player often looking to sell large premiums with shorter-time frames that can involve weekly options, while Thomas and Grelecki provide more longer-term multi-leg spread trades. The core theme centers around collecting option premiums through various options spreads for income generation. Performance smooths out with the volume of trades.
Sky View Trading Strategies
The basic vertical spreads are applied when targeting a directional move, which alleviates time premium, reduces costs and limits maximum downside risk. These easy-to-learn building blocks are the core starting point for their methods as subscribers work their way to the more complex strategies utilizing variations of the vertical spread.
Their trade signals are generally high-probability risk-averse set-ups. This sounds good, but keep in mind the size of the profits will be smaller than the size of the losses, however, there are more occurrences of profitable trades due to the higher accuracy rates. While newbies may question why risk $100 to make $40? Seasoned traders understand that a 90% probability of making a $40 profit is more appealing that taking a 50% probability trade that may produce a $120 profit. This is because you will win more times taking the 90% probability trades in the long-run that will offset the losses during outlier situations, if you implement proper money management.
The holding time frames range from overnight to daily and weekly. There are rarely any directional intraday trade signals, unless premiums are ridiculously high. The strategies seek to profit on theta erosion or at least offset the time premium with spread trades.
Subscribing to the Elite Membership gives you access to the Options Trading Course. This alone makes it a great value. They are some of the most easy-to-follow comprehensive tutorials I’ve seen. They have a knack for taking complex strategies and simplifying them in a step-by-step easy to digest style that is truly effective in shortening the learning curve. These self-paced videos are ideal for traders of all skill levels. From the risk management to strategies, the four-hour long course covers everything you need to implement the strategies on the site. To further your training, be sure to regularly watch the Trade Review Videos as explain past trades in detail as well as the Live Trade Recordings as viewers get access to a trader’s mindset.
This is my favorite part of the site. The trading moderators and members get to interact and share ideas. Cristos is very approachable and generous with his support explaining what he’s watching and the rationale behind the trades. You get real-time insight into the mind of a seasoned options trader. There’s also many knowledgeable seasoned member traders that I like to follow. The room is not cliquey at all.
What Type of Trader is Sky View Trading Best For?
I have to say this service is great for newbies just starting out to veterans looking for ideas. The site is very well organized and provides the all the training and tools to help you on your way to being self-sufficient. Newbies should consider getting the full package from the beginning to get acclimated to the strategies, whereas more seasoned traders may consider just the alerts. This is not a day trading service so swing traders that have access to their accounts but don’t want to stare at the screen all day will certainly appreciate the strategies offered here. Keep in mind that the options strategies involve a more capital than directional trades. Also, the PDT Rule still applies with options too. This means no more than three intraday roundtrips for accounts under $25,000.
Is Sky View Trading a Good Value?
Sky View Trading is a great value. The $99-month plan is for trader alerts only via e-mail and text, which is suitable for savvy and experienced options traders just looking for the meat. The Elite Membership is $199-month and includes access to the Options Trading Course, real-time view of their trading portfolio, monthly mentor session, chatroom and trading lessons. I also like the tutorial and support for using the Think or Swim platform for the options trades. All the tools are available if you have the time and commitment.
- Complete end-to-end one-stop shop to trading income strategies using options
- Easy-to-use tools and interactive chatroom
- Self-paced video course brings even beginners up to speed in four-hours, no fluff
- Instant access to moderators through chat
- Great flow of ideas and insights with member community of seasoned traders
- Once a month screenshare mentor support at no extra cost
- Learn to use Think or Swim platform for strategies
- Lots of trade signals can be capital-intensive and overwhelming for beginners
- The $25K PDT-rule still applies to options trading so larger account balances above threshold needed to take full advantage of signals