TL;DR: Options Waverider is the recorded Piranha Profits options course built by Adam Khoo with options instructor Bang Pham Van. It packages 26 non-directional income strategies (credit spreads, iron condors, earnings diagonals) plus a rule-based scanner and a trade-adjustment system. Aimed at intermediate traders who already know calls, puts, and implied volatility.
What Actually Ships Inside Options Waverider
The spine of Options Waverider is a library of 26 strategies that Adam Khoo and Bang Pham Van curated for different market conditions. You get credit spreads for capped-risk income, iron condors for range-bound stretches, and earnings diagonals for the volatility-crush windows around reports. Each one is taught as a setup with entry rules, not as a vague concept to figure out later.
Two pieces tie the strategies together. First, a rule-based scanning routine that filters for high-probability premium-selling setups instead of forcing you to eyeball charts. Second, an adjustment system for when a trade moves against you, so a losing position has a defined response rather than a panic exit. Those two layers are what separate this from a loose strategy dump.
The Premium-Selling Method Behind It
This is a non-directional income approach. Rather than betting a stock goes up, you sell options premium with defined risk and aim to profit whether the market runs bull, drifts bear, or chops sideways. If you have never sold an iron condor or a credit spread before, that mental shift is the real lesson here, and the course leans on it hard. The trade-off: premium selling has a different risk shape than buying calls, so the margin and drawdown management modules matter as much as the entry rules.
About Adam Khoo and Bang Pham Van
Adam Khoo founded Piranha Profits and is the public face of the Piranha Profits options course catalog. The day-to-day options teaching in Options Waverider comes from Bang Pham Van, the options instructor and co-creator. On reputation, Trustpilot reviews of Piranha Profits exist and skew mixed-positive across their programs; there is no single verified rating for this specific course, so treat the brand’s track record as context rather than a score.
How It Stacks Up Against Directional Options Training
Most Adam Khoo options material people find first is directional, you pick a direction and buy. Options Waverider goes the other way and builds the whole curriculum around selling premium and staying neutral. That makes it a poor first stop if you have never touched an option chain, and a strong second stop if directional trading keeps handing you whipsaws. The scanning and adjustment systems are the parts a sales page rarely shows, and they are the parts that justify sitting through 26 strategies.
Who Should Trade This System
The trader who fits this profile is already comfortable with calls and puts, reads implied volatility fluently, and runs a margin-capable account. For that person, the premium-selling setups and the adjustment playbook open up sideways markets that usually go untraded. The course makes a poor fit for an outright beginner, for cash-account-only traders who cannot place spreads, and for anyone chasing pure long-call directional swings. Think of the material as a method to absorb; every position you open later, and the risk attached, remains a decision you own.
Options Waverider FAQ
Is Options Waverider worth it?
For an intermediate options trader who wants a neutral income approach, the value sits in the scanning routine and the adjustment system, not just the 26 strategies. Those two frameworks turn loose premium-selling ideas into a repeatable process. A beginner will get less from it because the prerequisites are real.
Is Options Waverider legit?
This is a genuine recorded Piranha Profits options course produced by Adam Khoo’s team with Bang Pham Van teaching the options content. The 26 strategies, the scanner, and the adjustment system are all present in the material. Reported Piranha Profits reviews are mixed-positive, so judge it on fit, not hype.
Do I need a margin account for Options Waverider?
Yes. The credit spreads, iron condors, and earnings diagonals taught here require defined-risk spread orders, which need a margin-capable, options-approved account. A cash-only or basic account will not let you place most of these trades, so sort that out before you study.
What level is the Piranha Profits options course aimed at?
Intermediate. Options Waverider assumes you already understand calls, puts, and implied volatility going in. It does not re-teach option basics, so a brand-new trader should build that foundation first, then come back for the premium-selling and adjustment frameworks.
Does Options Waverider work in a sideways market?
That is its core pitch. The non-directional, premium-selling design is built to generate income when price chops in a range, which is exactly where directional strategies stall. Iron condors and credit spreads are the main vehicles for that, paired with the rule-based scan.
Curious how the neutral approach pairs with your existing playbook? Read it alongside our notes on credit spread income strategies, the mechanics of iron condor options trading, building a watchlist of premium-selling setups, when to deploy options trade adjustment rules, and the basics of risk management.
Our Verdict on Options Waverider
Options Waverider is a focused, non-directional options course for traders who already speak the language and want a neutral income method with guardrails. The scanner and adjustment system are the reasons to pick it over a generic strategy collection in 2026. Read everything inside as a study of one method; the calls about which positions to open, and the risk you shoulder, remain wholly your own.
