 this course is about trade entry, trade analysis, trade simulation and planning your exits. So let's start with the trade entry. Good entry is always a good starting point and you know that's a no-brainer. In our case, most of the time it's going to be chart analysis. Sometimes it could be things like earnings. There could be some kind of an earnings catalyst. Perhaps the volatility is going too high because earnings are coming up. In the absence of any specific information, what we can do is look at the charts and understand whether it's a good point to enter a bullish trade or whether it's a good point to enter a bearish trade. So before you get into your entry, you need to understand your position. So what we mean is, let's say you're thinking about a spread. Let's say you're thinking about a bear called spread or a bull called spread, whatever it is. When you put the trade up on your analyze screen, before you execute it, you need to simulate this trade. So which means what will happen if the stock goes up $30 tomorrow or what will happen if the stock goes up $30 in two weeks? The difference between the two obviously is going to be time decay. So is first of all are you theta positive or are you theta negative? Do you want time decay or do you not want time decay? So that depends whether you have a buyer's profile or a seller's profile. What will happen in two weeks? What will happen in three weeks? What will happen in four weeks for a move of maybe $30 up, maybe $20 down? You have to look at all of these things and you have to get an understanding of your position and you can do that from the analyze tab on Thinkorswim or any other platform. So when you analyze your trade, you have to look at price movement first. So there are three things you have to simulate. And those are the three variables that impact option prices. First is price movement. Second is time decay. And the third is volatility.