📊 Cash Equities (Stocks)

Example: Avis Budget Group ($CAR)

What it is:

You are buying actual shares of a company

Key Features:

✅ Ownership (you own part of the company)

✅ No expiration date

✅ Usually no leverage (or limited)

❌ Harder to short (depends on broker)

📉 Futures

Example: S&P 500 futures (ES), Nasdaq futures (NQ)

What it is:

A contract to buy/sell an asset at a future price

You don’t own anything — just trade price

Key Features:

✅ High leverage

✅ Easy long & short

✅ Tight spreads / strong execution

❌ Has expiration dates (contracts roll)

🧩 Options

What it is.

Options are contracts that give you the right (not obligation) to buy or sell an asset at a specific price before a certain date.

Example: Options on Avis Budget Group ($CAR)

📊 Key Types

Call Option → you expect price to go up

Put Option → you expect price to go down

🔑 Key Features of Options

✅ Built-in leverage

✅ Defined risk (you can only lose the premium you pay)

✅ Can profit in any condition (up, down, sideways)

❌ More complex (Greeks, time decay,

volatility)

❌ Time decay (theta) works against you.