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Wall Street News
Millennials Have Penchant for Risk – As In Options Trading
[Photo: Catalyst Consulting Group]
by Howard Haykin
E*Trade Financial announced the results of a recent survey among self-directed active investors who manage at least $10,000 in an online brokerage account.
- Two out of 5 (40%) millennials trade options at least monthly, compared with 25% of Gen Xers, and 14% of Boomers.
- Among all those who trade options: 36% do so to generate income; 27% to create leverage; 25% to hedge against losses; and, 12% to speculate.
- Millennials are the age group most likely to use options to create leverage - with 35% of the survey population; boomers are more likely to use options to hedge against losses – with 31% of the population.
“Millennials are digital natives. And within this context it’s understandable why this group may also be the most active options traders, as today there are a great many digital tools that make options trading easier to understand than ever before.” - - Steve Claussen, E*Trade VP of Trader Strategy.
Mr. Claussen adds that more leverage means greater firepower for millennials who, as they start out in the investing world may be more likely to have less investable capital compared to older generations.