Today I’ll give you a taste of how easy it is to get started making money with Jim Fink’s Options for Income service.

Once you sell your first options contract, you’ll collect your first credit of $125 – $175 right away. Do that twice a week every week and you’ll be on your way to what I call my “Salary-Replacement Plan”.

Step 1: Setting Up Your Options Trading Account

Setting up an account online is quick and easy at many different brokers. I outline the steps for you in this quick video.

The basic steps are:

1. Open a brokerage account

2. Apply for margin

3. Apply for their highest level of options trading

If you can’t easily navigate to the page of your brokerage site to do steps 2 and 3, I recommend simply doing a Google search for “how to apply for margin at [xyz broker]”. At Fidelity, for example, just click on one of your accounts, go to the More menu, choose Account Features, and then click the Apply link next to either Margin or Options. The whole process takes just a few minutes.

While trading put credit spreads with Options for Income is one of the safer forms of options trading, it’s considered to be a sophisticated strategy. Thus, most brokers require you to have their highest level of options trading.

To get that level, you will have to answer their questions in an acceptable manner. In short, you’ll need to tell them that you are an experienced trader and are comfortable with risk.

You’ll also need to fund your account. Most put credit spreads that Jim recommends require $500 in your account. If you want to build up to having 30-40 open trades, we recommend eventually putting $25,000 in your account.

But you can start with just $2,000. That will let you make 2-3 trades and have some cushion left over for possibly “rolling” some of the trades. Many people like to do both of the weekly trades for the first month and then take a breather to see how they play out. To do those first eight trades (2 trades x 4 weeks), you’d want to have $5,000 in your account.

Remember, with each trade, you’ll collect a cash credit right away. And then you just need to wait 2-3 months to find out if the trade ends successfully (“expires worthless”) or not. If not, Jim will show you how to “roll” the trade until it is eventually a winner.

Step 2: Learning the Basics

Options for Income couldn’t make it any easier for you to get started.

Once you sign up, you’ll gain access to our New Members page with a few special reports and quick-start videos.

Plus, you can enroll in our free six-session live training series. We’ll teach you in plain-English everything you need to know to get started and answer your most basic questions in a judgment-free, small-group setting.

The 3-week live program begins on the first Tuesday of every month. Or you can watch recorded sessions, if you prefer.

Step 3: Make Your First Trade

Once your brokerage account has been authorized for options trading and you’ve reviewed the intro materials, jump in and make your first trade! Every Thursday morning you’ll receive a new Trade Alert.

If you’re new, we recommend you start by trading just one contract of a put credit spread whose expiration date is two or three months in the future.

• Why just one contract (which represents 100 shares of the underlying stock)? It’s a low-risk way to get your first trade under your belt since, with most of our trades, you’re only risking around $375 per contract.
• Why a put credit spread? Because it’s a conservative, educational, and controlled type of trade—plus you get the immediate payoff of an up-front cash deposit.
• Why a two- or three-month expiration date? So that you have time to settle into Options for Income as you watch your trade develop. Once you’re over the hurdle of placing your first trade, this low-risk method of earning income all starts to make sense.

The more you learn and the more trades you make, the more you’ll realize there is just no going back to plain stock investing. Get started with your “salary-replacement plan” now…