RENDA COM OPÇÕES: O QUE SÃO E COMO USAR AS GARANTIAS AUTOMÁTICAS

Summary

In this video, the speaker explains the differences between automatic and manual collateral in options trading. Automatic collateral, such as stocks and ETFs, is easier and more reliable, providing near 100% coverage. In contrast, manual collateral requires individual selection and can be prone to unexpected issues, making it more complex and risky. The speaker recommends using automatic guarantees to avoid complications and simplify trading. He also reflects on Clear's previous system, which initially offered an intuitive method for manual collateral but is no longer in use.

Takeaways

• 😀 Automatic guarantees are a common practice in options trading, serving as a form of collateral when you sell options, similar to taking a loan.
• 😀 In Brazil, Clear introduced a system that allowed users to choose their guarantees easily, though the system was not as straightforward as it appeared.
• 😀 Not all brokers offer the same system of automatic guarantees; many are different and require a manual process for guarantee allocation.
• 😀 Shares of good companies usually serve as collateral for automatic guarantees, with their value often contributing about 50% of the guarantee amount.
• 😀 ETFs (Exchange-Traded Funds), particularly fixed-income ETFs like LFTs, can serve as automatic guarantees, offering a 99% guarantee value.
• 😀 Using ETFs like LFT B11 can help avoid issues with tax on income, making them an attractive option for guarantee purposes in options trading.
• 😀 Traders sometimes buy a lot of one stock, which doesn't serve as a good guarantee. This can necessitate a reevaluation of collateral, like purchasing ETFs.
• 😀 Manual guarantee allocation can lead to complications. It requires dealing with the broker or a financial advisor, and there’s a risk that the guarantees may suddenly be invalidated.
• 😀 The best approach for new traders is to stick with automatic guarantees, as they are simpler and less prone to unexpected issues.
• 😀 Despite Clear's flaws, its system for handling automatic guarantees was innovative and could serve as inspiration for future trading platforms.

Q & A

What is the key difference between automatic and manual guarantees in options trading?

Automatic guarantees are pre-allocated by the broker, typically using stocks or ETFs, and they provide a quick, hassle-free way to secure a position. Manual guarantees, on the other hand, require the trader to directly allocate certain assets, often through coordination with an advisor, and may involve more risk or complications.

Why are automatic guarantees considered more reliable than manual ones?

Automatic guarantees are directly managed by the broker and typically come with fewer risks and complications, as they are pre-allocated and do not require manual intervention. Manual guarantees can encounter issues, such as sudden changes in asset eligibility or unforeseen problems with the broker's system.

How do ETFs like LFTs 11 and LFT B11 serve as automatic guarantees?

ETFs such as LFTs 11 and LFT B11 serve as automatic guarantees because they are fixed-income investments, similar to treasury bonds. These ETFs provide stable returns, and their value is recognized as 99% of their value being usable as collateral for options trading.

What happened with the Clear system in Brazil that influenced options trading culture?

Clear developed a system where users could drag and drop assets to use as collateral, which simplified the process for many traders. However, this system was not entirely transparent, and it gave a false impression that other brokers operated the same way. Over time, the system was altered and eventually discontinued.

What are the advantages of using fixed-income ETFs like LFTs 11 for collateral in options trading?

The advantage of using fixed-income ETFs, such as LFTs 11, is that they provide a stable and predictable guarantee, serving 99% of their value as collateral. These ETFs are low-risk investments that also benefit from automatic allocation to your trading account, reducing the need for active management.

How does the tax issue with fixed-income ETFs affect their use as guarantees?

There has been controversy regarding taxation on fixed-income ETFs, particularly with increased taxes on returns. Despite this, these ETFs, such as LFTs 11, are still popular for their high collateral value (99%) and their ability to offer reliable protection for option traders.

Why are manual guarantees often considered problematic?

Manual guarantees can be problematic because they rely on direct intervention from brokers and advisors, which can lead to errors or miscommunications. Additionally, the assets chosen for manual guarantees may become ineligible or lose their value as collateral unexpectedly.

What is the risk of using stocks as collateral for options trading?

Stocks, especially in smaller or less stable companies, may not provide sufficient or reliable collateral for options trading. Additionally, the value of these stocks can fluctuate rapidly, making them a less predictable source of collateral compared to more stable investments like fixed-income ETFs.

How does the B3 stock exchange impact the use of collateral in options trading?

The B3 stock exchange plays a key role in determining which stocks can be used as collateral. Stocks from reputable companies are typically accepted, but their value might only represent a portion of the collateral needed, and some stocks may not qualify at all.

What should a trader do if they need to allocate manual guarantees for options trading?

A trader should contact their broker or advisor to discuss how to manually allocate guarantees. Each brokerage may have different systems for manual collateral, and it’s crucial to communicate directly with customer support to understand the specific procedures and risks involved.