BURAKTHESCALPER PDF
PUBLIC PREVIEW · LESSONS 01–02 + BONUS PRIMER

Read the contract.
Build the plan.

A twenty-slot foundation for reading charts, defining risk, and understanding option contracts through hypothetical examples and paper-only labs. Lessons 01–02 and the contract-mechanics primer are public; Lessons 03–20 are included with the existing membership.

Read Lesson 01 Browse all 20 lessons Read the options glossary Calculate expiration breakeven
BURAKTHESCALPER LLCEducational only20 lessons · 2 public previews
Discipline.Confirmation.Execution.

Bonus / Contract mechanics primer

How an Options Contract Works

This contract-mechanics primer is a bonus reference, separate from the numbered Foundation. The public roadmap begins with Candle bodies and wicks in slot 01.

CALL BUYER

Right to buy

A call buyer has the right, but not the obligation, to buy the underlying at the strike under the contract terms.

PUT BUYER

Right to sell

A put buyer has the right, but not the obligation, to sell the underlying at the strike under the contract terms.

ASSIGNED SELLER

Corresponding obligation

An assigned call seller has the obligation to sell; an assigned put seller has the obligation to buy. Buying an option is not owning shares.

Trading options requires specific approval from a brokerage firm. Lessons 03–20 are included with the existing membership; the Foundation has no separate checkout.
Hypothetical options contract anatomyA contract card labeled with hypothetical XYZ, call, one hundred dollar strike, expiration, three dollar premium, and one hundred share multiplier.HYPOTHETICAL CONTRACT SNAPSHOTXYZ · CALLRight to buy under the contract termsUNDERLYINGXYZSTRIKE$100EXPIRATIONContract datePREMIUM$3.00 / shareMULTIPLIER100Standard, unadjusted example · $300 premium before fees

Contract anatomy

Read every field.

The underlying is the reference asset. The type establishes the buyer's right. The strike is the contractual price. Expiration sets the time boundary. Premium is quoted per share, then multiplied by the contract multiplier.

Hypothetical example

One standard, unadjusted 100-share XYZ $100 call bought for $3 per share has a $300 premium before fees. Adjusted contracts can have different deliverables.

Hypothetical premium breakdownA three dollar premium is split into two dollars of intrinsic value and one dollar of extrinsic value.HYPOTHETICAL XYZ AT $102 · $3.00 PREMIUM / SHAREPREMIUM = INTRINSIC + EXTRINSIC$2.00 intrinsic$1.00 extrinsicXYZ $102 − strike $100 = $2 intrinsic$3.00 total premium − $2.00 intrinsic = $1.00 extrinsic · ITM does not guarantee profit after costs

Premium breakdown

In the money is not the same as profitable.

At hypothetical XYZ $102 with a $3 premium, the call has $2 intrinsic value plus $1 extrinsic value per share. Even when an option is in the money, premium and other costs still matter.

Intrinsic$2.00 / share
Extrinsic$1.00 / share
Total premium$3.00 / share
Hypothetical long-call expiration payoff graphA payoff line crosses breakeven at one hundred three dollars, shows negative one hundred dollars at one hundred two dollars, and positive one thousand seven hundred dollars at one hundred twenty dollars.HYPOTHETICAL · PRE-FEE, PRE-TAX · EXCLUDES STOCK EXPOSURE AFTER EXERCISE$102$103$120−$100$0+$1,700XYZ price at expirationLong-call P/L

Expiration math

Define the outcome before the trade.

[max(XYZ price − $100, 0) − $3] × 100

Hypothetical long-call formula · pre-fee, pre-tax · excludes stock exposure after exercise.

XYZ $102−$100
Breakeven: XYZ $103$0
XYZ $120+$1,700
Hypothetical bid ask and spreadA hypothetical quote shows a two dollar ninety bid, three dollar ten ask, three dollar midpoint, and twenty cent spread.HYPOTHETICAL QUOTE · NOT AN ACTUAL MARKET QUOTE$2.90BID$3.00MIDPOINT$3.10ASKSpread = $3.10 − $2.90 = $0.20 per share · midpoint is not a guaranteed fill

Quote literacy

Midpoint is a reference.

Bid $2.90, ask $3.10, midpoint $3.00, spread $0.20 per share. Midpoint pricing does not guarantee a fill or represent an actual market quote.

Bid$2.90
Midpoint$3.00
Ask$3.10
Spread$0.20

Expiration

Worthless is possible.

An option can expire worthless. Exercise can create underlying-share exposure. This lesson's long-call formula explicitly excludes that post-exercise stock exposure.

Broker procedures

Confirm the cutoff.

Automatic-exercise conventions, broker-specific cutoffs, and procedures can differ. Consult the brokerage for its current rules; do not assume an automatic exercise or assignment outcome.

Risk disclosure

Educational only—not financial advice.

Options involve risk and are not suitable for all investors. Options can lose the entire premium, and sellers can face significant obligations. There is no profit guarantee.

Bonus primer / Check your understanding

Three questions. No guesswork.

Open each question to see the answer and the reason.

A hypothetical option is quoted at $2.40. What is the standard 100-share premium before fees?
$240 before fees: $2.40 × 100 = $240.

Option premiums are quoted per share for a standard equity contract, so the quote is multiplied by the contract multiplier.

What contractual right does a put buyer receive?
The right, but not the obligation, to sell the underlying under the contract terms.

The assigned put seller has the corresponding obligation to buy the underlying at the strike under the contract terms.

Does a $3.00 midpoint guarantee that an order will fill at $3.00?
No. Midpoint pricing is a reference, not a guaranteed fill or an actual market quote.

The bid and ask can move, and available liquidity can change before an order executes.

Public 20-lesson Foundation

Choose a lesson.

See all twenty Foundation lessons in their authoritative order. Lessons 01–02 are public previews. Lessons 03–20 are Members only and are included with the existing $60/month membership; each lesson has its own teaching, hypothetical examples, paper lab, and explained knowledge check.

01Candle bodies and wicks

Read open, high, low, and close without treating a candle shape as a prediction.

Public preview
02Timeframes

Compare chart intervals and keep context separate from confirmation.

Public preview
03Trends and ranges

Describe swing structure and distinguish a directional sequence from a range.

Members only
04Support and resistance

Mark reaction zones, write an observable condition, and define invalidation.

Members only
05Higher Highs and Lows

Read rising swing highs and lows as chart observations, not a guaranteed outcome.

Members only
06Lower highs and lows

Track falling swing structure and note where the description would no longer fit.

Members only
07Breakouts and retests

Separate a boundary break from a later retest and prewrite both scenarios.

Members only
08Failed breakouts

Review a return inside a prior boundary without assuming a reversal will follow.

Members only
09Bull and bear flags

Compare flag structures and keep continuation, failure, and ambiguity in view.

Members only
10Double tops and bottoms

Study repeated swing areas and the confirmation that a pattern description requires.

Members only
11Triangles

Compare converging boundaries and keep both exit directions possible.

Members only
12Hammer

Identify the candle’s proportions and ask what chart context is still missing.

Members only
13Shooting star

Read the long upper wick as an interval summary, not proof of a reversal.

Members only
14Doji

Recognize a small real body and avoid assigning it a fixed meaning by itself.

Members only
15Engulfing Candles

Compare adjacent candle bodies and test the pattern against location and context.

Members only
16Reading the options chain

Check contract identity, strike, expiration, quote, spread, and deliverable.

Members only
17Premium Drivers and Greeks

Review the factors and sensitivities that can affect an option premium.

Members only
18Risk and expiration

Define premium risk and review expiration, exercise, assignment, and broker cutoffs.

Members only
19Building a market plan

Write context, confirmation, invalidation, contract checks, and risk before a trade.

Members only
20Practice/review

Work hypothetical outcomes, record skipped trades, and review process rather than profit.

Members only

Included with the existing membership

One membership. The Foundation alongside the current benefits.

The $60/month membership includes daily market preparation, ES and NQ futures analysis, stock and options watchlists, educational trading plans, a private trading community, risk-management education, weekday live sessions, and seven-day replays. The Foundation supplements the separate 30-lesson course; it does not replace it.

View the existing membership

BURAKTHESCALPER framework

DISCIPLINE → CONTEXT → CONFIRMATION → RISK → REVIEW

The 30-minute context / 5-minute confirmation routine is an educational preference, not a proven edge. Every lesson asks students to define observations and invalidation before outcomes, assess costs and maximum loss, and skip when evidence or risk is unclear.

Patterns are possibilities, not guarantees. Correct price direction can still lose because of premium, timing, volatility, and spreads.

When historical charts are added, they will identify the ticker, timeframe, date, and source. Non-historical illustrations are clearly hypothetical.

Paper learning tools

Practice without a live order.

Every lab is a paper exercise. Lessons 19 and 20 also include printable planning and review materials.

Annotated chart labs

Included in lessons

Contract review fields

Included in lessons

Maximum-loss checks

Included in lessons

Five-setup journal

Included in lessons

Bonus primer / Take the contract reference with you

Download the contract reference.

This public PDF is the bonus contract-mechanics reference, not Lesson 01. Lessons 01–02 are public previews; Lessons 03–20 are included with the existing $60/month membership.

Primary source starting points

Start with primary education.

The course references official educational and disclosure materials. All lesson illustrations and worked figures are hypothetical, not historical market data.

Options Education: Options BasicsOptions Education: Options PricingFINRA: Options