"As the female trading community continues to grow, we are all very supportive. There is a fantastic sorority element in this area."
The theme of this year's International Women's Day 2021, which will be celebrated on March 8th, is “Choose to Challenge”. As women around the world stress the importance of tackling injustice and inequality, we sat down with a trailblazer in the predominantly male-led field of stock trading. Options trader Sarah Glass shared with us how she made it to the top of her field and how important mentoring and female leaders are for the future of the industry.
1.) What is an options trader and how did you get into this professional field?
An options trader is a dealer, retailer, or institutional trader who trades stock options or uses options as hedging transactions. Options differ from stocks in that they are contracts to buy or sell the underlying stock at a specific strike price and have an expiration date.
Early in my career, I was introduced to equity options by an institutional stock options trader at one of the major banks in Canada. I was fortunate enough to be trained by an institutional trader and since then I have served many retailers in the industry. Trading and broking stock options to those who want financial freedom is undoubtedly my passion in life.
"Trading and broking stock options to those who want financial freedom is undoubtedly my passion in life."
2.) What kinds of hurdles did you have to overcome because you are a woman in this area?
The financial industry is very much dominated by men. Recently, however, we have seen a sharp increase in female retailers, particularly due to the influx of new retailers since the COVID-19 quarantine hit.
At the beginning of my career it was difficult for me to gain the respect of a male field. As women, we are sometimes easily overlooked. However, as I became a better trader and shared my knowledge and analysis with male students, I was quickly recognized and respected. I think this trend will continue for all female traders as more of us enter this industry and maybe even dominate it.
3.) Why is options trading a good career for women?
Being an options trader is a fantastic career for women because it can help us achieve financial freedom. I think a lot of women feel like they have ten jobs – motherhood, wife, career, etc. If you can learn how to trade options and are passionate, all you have to do is trade a few hours a day, which gives you the time Freedom to take care of your other ten jobs. I also found that as the female trading community continues to grow, we will be very supportive of each other. There is a fantastic sorority element in this area.
"The character traits necessary to become an options trader are discipline, determination, passion, and just a love of trading (pun intended)."
4.) What are the character traits that are necessary to become a great options trader?
The character traits necessary to become an options trader are discipline, determination, passion, and just a love of trading (pun intended). If your dream is to become a successful options trader and you have these traits, the dream is very achievable even if you do not have a strong financial background.
5.) Which similar professional fields could also be of interest to women who are thinking about becoming an options trader?
Long-term equity investments are somewhat safer for risk-averse investors. Starting to build your portfolio in blue chip stocks for many years to come is an excellent way to build wealth and generate passive income by collecting dividends.
6.) What is your best advice for women pursuing a career in options trading?
My best advice is never to give up and never act more than you would like to lose. You will have losses, it is inevitable, but as long as your profits outweigh your losses and you stick to your trading plan, you can make a career out of it and join our growing female trading community.
The post-A-Q&A with options trader Sarah Glass on International Women's Day March 8 first appeared in Home Business Magazine.