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hello welcome to uh lecture three of four this should be your third hour with me um lecture one of the four was introduction and norman glacier of option contracts that was about an hour and five minutes and it was a two for one and the second lecture was uh basic option positions tested on your sie and your series seven so those are strategies that are appropriate the lectures are appropriate and this is the third in this series now options are one of the few things on your exam to kind of build and so what i mean by that is you should be sequential so im assuming you have watched lecture one and two if you havent you need to stop now circle back do lecture one and do lecture two before you join me on this which is uh lecture three um im assuming weve had that discussion so if you havent done lecture one or two it could be challenging for you to keep up with us in this next lecture in this next lecture were gonna be talking about stock positions plus option positions full hedges