Options Playbook Radio: Recent Episodes
The Options Insider Radio Network
Welcome to Options Playbook Radio - the program where we break down cutting edge options strategies and explain how you can incorporate them into your own portfolio. Whether you’re looking to grow your capital with some offensive maneuvers or protect your investments with defensive plays, you can find them all in the Options Playbook. Options involve risk. Please refer to https://www.ally.com/invest/disclosures to review additional risks involved with trading options.
Tired of trying to find UNH cheese and just want out of the trap? In this episode, we break down a front spread, also known as a call ratio spread, built for traders who already own 100 shares of UNH and want options to, literally, get unstuck. By buying one 300 call and selling two 315 calls expiring Friday, March 6, 2026, the trade was placed for about a $1.00 net credit with UNH near 281.70. We explain the front spread logic, why it is considered covered, the payoff, and the fine print that matters. Listen in to hear how this escape plan unfolds.
Link to the Strategy in OptionsPlaybook.com:
https://www.optionsplaybook.com/option-strategies/call-ratio-vertical-spread
HOST: Brian Overby, Options Playbook
Here is a Monday trade and a Friday expiration trade. Open-Wing Butterfly in SPX with either 0DTE (Nov 10) or Friday Nov 14th Buy 1 SPXW Nov 10th 6785 Strike Call Sell 2 SPXW Nov 10th 6800 Strike Call Buy 1 SPXW Nov 10th 6805 Strike Call
HOST: Brian Overby, Options Playbook Radio
The OPR strategy today is an Open-Wing Butterfly Spread on AMZN ahead of the company's earnings announcement after the close today, Thursday, October 30th. BUY +1 AMZN 31 OCT 235 STRIKE CALL SELL -2 AMZN 31 OCT 245 STRIKE CALL BUY +1 AMZN 31 OCT 250 STRIKE CALL NET DEBIT $2.18
Brian's latest actionable trade idea...a VIX butterfly!
Trade Breakdown
- Butterfly spread entry with 1 buy and 2 sell orders
- VIX 22 OCT 25 AM options at strikes 15, 20, and 22
- Call type with a debit order at 1.65 price
- Quantities: +1, -2, +1 respectively
On this episode Brian breaks down a GLD Butterfly:
GLD SPDR Gold Trust: $338.75 (up 3.09%),
- GLD Long Open-Wing Butterfly: Debit Mid $3.00
- Leg 1: Buy to Open, 1, 2025-09-19, Strike 345.00, PUT
- Leg 2: Sell to Open, 2, 2025-09-19, Strike 339.00, PUT
- Leg 3: Buy to Open, 1, 2025-09-19, Strike 337.00, PUT
- Max Risk: $300 per 1x2x1 Spread Executed
- Max Reward: $300 per 1x2x1 O-W Butterfly Established
We are pleased to welcome back Brian Overby and his popular Options Playbook Radio program.
On this episode, Brian talks about his VIX modified butterfly trade.
The Options Guy - aka Brian Overby - joins Mark in the Southern Studio at OIC 2024 to discuss:
- Skip strike butterfly adjustments
- Skip strikes vs. Fig Leaves
- 0 DTE options
- 24hr trading in stocks and options
- and much more...
We are pleased to welcome back Brian Overby and his popular Options Playbook Radio program.
On this episode, Mark and Brian answer your listener questions including:
- their thoughts on options trading holding up in 2023
- their feelings on the pattern day trading policy
- trading VIX calls/spreads vs. VIX puts/spreads
- whether Chicago is still the mecca for trading options
- and much more.
For this week's trade, Brian gets speculative with the United States Oil ETF (Ticker: USO).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this rare live Huddle episode, Mark and Brian answer your pressing questions about:
- 0 DTE trading in Apple and Meta
- The mysterious Super Bowl indicator
- Ratio put spreads
- "Covered" straddles
- Stock repair trades
- and much more...
Brian begins this episode by looking at last's weeks trade which was a long call in SNAP. For this week's trade, he looks at a long call spread in Booking Holdings (Ticker: BKNG).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian begins this episode by looking at last's weeks trade which was a Christmas tree butterfly in Apple (Ticker: AAPL). For this week's trade, he looks at a long call in SNAP.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
For this week's trade, Brian looks at a skip strike butterfly in Apple (Ticker: AAPL).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian and Mark huddle up to answer your options questions, including:
- Is it worth it to sell puts in 0 DTE options
- Why aren't there same day options for single stocks
- What are we looking forward to in the market this year
- What will be the hot options strategy for 2023
- How far out do we go when selling a put in a single name stock as a way to buy the stock at a lower level
- And much more...
Brian begins this episode by looking at last's weeks trade which was an iron condor in Delta Airlines (Ticker: DAL). For this week's trade, he does a FOMO (Fear Of Missing Out) trade in Delta Airlines (Ticker: DAL).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian begins this episode by looking at last's weeks trade which was a SPX put butterfly trade. For this week's trade, he looks at an iron condor in Delta Airlines (Ticker: DAL).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian begins this first episode of the new year by discussing the markets. Then he looks at a SPX ratio butterfly trade.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this year-end show, Mark looks at the top Options Playbook Radio episodes of 2022.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian and Mark huddle up to answer your options questions, including:
- Your most used options strategy in 2022
- Favorite strategy to use with 0 DTE SPX options
- Will daily options expand to products like Apple or Meta
- Why does Brian like the Fig Leaf strategy
- Was it a good year for SPY put traders
- Trading resolutions for the new year
- With options should you trade what you know and speculate on what you don't
- And much more...
On today's show, Brian reviews last week's trade of using options for year-end maintenance on your portfolio with a covered call in Amazon (Ticker: AMZN). Then he discusses
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On today's show, Brian reviews last week's FOMO fig leaf trade in Walt Disney Company (Ticker: DIS). Then he discusses using options for year-end maintenance on your portfolio with a covered call in Amazon (Ticker: AMZN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On today's show, Brian does a FOMO fig leaf trade in Walt Disney Company (Ticker: DIS).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian and Mark Huddle Up to answer your questions about:
- "Daily" options trading
- What does Brian see on the horizon for the market?
- Impact of the FTX fiasco on the options market'
- Trading theta around holidays and earnings events
- Expiration Day Trading
- PFOF
- and much more...
Brian begins the show by discussing last week's trade in which he sold a little vol premium in the VIX index (Ticker: VIX). For this week's trade, he is does an iron condor in SPY.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian begins the show by discussing last week's trade which was a long put spread in IWM (iShares Russell 2000 ETF). For this week's trade, he is selling a little vol premium in the VIX index (Ticker: VIX).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian begins the show discussing his bearish ratio butterfly trade last week in Amazon (Ticker: AMZN). Afterwards, he talks about doing a long put spread in IWM (iShares Russell 2000 ETF) for this week's trade.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian begins the show discussing his bottom fishing trade last week in A&T (Ticker: T). Afterwards, he does a bearish ratio butterfly in Amazon (Ticker: AMZN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
With the markets rocking and rolling, Brian begins the show making a neat adjustment the trade from last week which was a bullish call spread in the USO (United States Oil Fund). He adjusts the trade to a long call butterfly spread.
Next, Brian goes bottomfishing in AT&T (Ticker: T) with a longer term options trade.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian is looking for a dead cat bounce with a bullish call spread in the USO (United States Oil Fund).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Mark and Brian "huddle up" to answer your questions about:
- Credit Spreads
- Butterflies
- Trading as a Side Hustle
- Playing Hurricanes Using Options
- And much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at a short call spread in Netflix (Ticker: NFLX) that he discussed on last week's episode. For this week's options trade, Brian decides to buck the selloff trend with an SPX long call spread.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's options strategy as he did a long put spread in META (aka Facebook). For this week's options trade, Brian looks at a short call spread in Netflix (Ticker: NFLX).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's options strategy as he got a little bearish in the marketplace with a put butterfly in SPX. For this week's options trade, Brian looks at a long put spread in META (aka Facebook).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's options strategy in which he did a covered call trade in Amazon (Ticker: AMZN). For this week's options trade, Brian gets a little bearish in the marketplace with a put butterfly in SPX.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's options trade in which he did an adjustment to a butterfly spread in the SPX. For this week's options trade, Brian does covered call trades in Amazon (Ticker: AMZN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's options trade in which he sold a put option in Freeport McMoRan (Ticker: FCX). For this week's options trade, Brian does an adjustment in a butterfly spread in SPX.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's speculative short put spread in Occidental Petroleum Corporation (Ticker: OXY). For this week, Brian sells a put option in Freeport McMoRan (Ticker: FCX).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's speculative short put spread in Coninbase (Ticker: COIN). For this week, Brian does a speculative short put spread in Occidental Petroleum Corporation (Ticker: OXY).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's butterfly trade in Amazon (Ticker: AMZN). For this week, Brian does a speculative short put spread in Coinbase (Ticker: COIN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first reviews last week's trade where he did a FOMO (Fear Of Missing Out) trade in Google. For this week's trade, Brian does a speculative bearish butterfly trade in Amazon (Ticker: AMZN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first reviews last week's trade which was a long call spread in Google (aka Alphabet - Ticker: GOOGL). For this week's trade, Brian does a FOMO (Fear Of Missing Out) trade in Google. He looks at how to participate in Google and have limited risk now that the stock has split.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian explains what will happen to options after the Google (aka Alphabet - Ticker: GOOGL) stock split.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this July 4th holiday episode Brian and Mark Huddle Up to answer your questions about:
- Where to sell puts in SPX right now?
- stock substitution vs. futures substitution
- calendars vs. diagonals
- when to close an Iron Condor for a profit
- and much more..
On this episode, Brian first talks about last week's trade which was a long put spread in American Entertainment Holdings (Ticker: AMC). For this week's trade, Brian looks at a cash secured put in Amazon (Ticker: AMZN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first talks about last week's trade which was a bearish butterfly in SPX. For this week's trade, Brian looks at a long put spread in American Entertainment Holdings (Ticker: AMC).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first talks about last week's trade which was selling a cash secured put spread in Ollie's Bargain Outlet Holdings Inc. (OLLI). For this week's trade, Brian looks at a bearish butterfly in SPX.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian does a FOMO (fear of missing out) trade in Ollie's Bargain Outlet Holdings Inc. (OLLI).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Mark and Brian "huddle up" to answer your questions about:
- SPY straddles
- Selling a put
- Is it all about a put frenzy or are people still buying OTM calls?
- How far out do you make your options trades?
- and much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first talks about last week's trade which was selling a short bullish put spread in the VIX. For this week's trade, Brian first looked at a strangle in the VIX before deciding to keep things simple with an OTM VIX call.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian talks about selling a short bullish put spread in the VIX.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Mark and Brian "huddle up" to answer your questions about:
- The proper way to trade butterflies
- What to do with TWTR call spreads after the deal
- Does Meme stock call skew still exist?
- Our thoughts on the Nanos
- and much more...
On this episode, Brian reviews last week's Amazon (Ticker: AMZN) butterfly trade. Then he decides to try to catch the massive Fed rally with an out-of-the-money call option in QQQ.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian reviews his calendar spread (aka time spread or horizontal spread) in Walt Disney Company (Ticker: DIS). Then he decides to have a little earnings fun with an Amazon (Ticker: AMZN) butterfly trade.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian explains how to do a calendar spread (aka time spread or horizontal spread) in Walt Disney Company (Ticker: DIS).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian and Mark huddle up to answer your questions about:
- When to roll on a skip strike butterfly
- How long you have to exercise options after the expiration date
- Why would a brokerage shy away from offering crypto
- Where to place your stop loss when doing a credit spread
- Our favorite starter options trade
- Thoughts on BITO as a trading vehicle for crypto
- Most profitable plays from the Playbook
- And much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first discusses last week's figleaf trade in SPDR Gold Shares (Ticker: GLD). Then he decides to buck the current Fed-driven selloff with a long SPY call spread.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first discusses last week's long call spread trade in Amazon (Ticker: AMZN). Then he explains how to do a figleaf in SPDR Gold Shares (Ticker: GLD).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian discusses the upcoming stock splits in Google and Amazon. He also explains how you can do a long call spread in Amazon (Ticker: AMZN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian discusses how you could trade the VIX with a long call spread.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Enjoy this special "remastered" episode of OPR 100 Part 2. On this episode, Brian is joined by Dan Sheridan from Sheridan Options Mentoring.
They discuss:
- A review of a TWTR iron condor paper trade
- What was the situation when the trade was put on?
- What does Dan think?
- Doing a spec trade
- What would Dan do?
- Should we have considered weekly options?
- What about gamma?
- Did we use the baseball bat for its intended purpose?
On this episode, Brian first looks at last week's SPY straddle trade. Then he explained a Fear Of Missing Out (FOMO) trade in SPY.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Due to the current market volatility, is it time to do a long straddle? On this episode, Brian explains how to do a SPY straddle trade.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this 400th episode spectacular, Brian and Mark huddle up to answer your questions about:
- Covered calls on long equity / ETF positions
- The upcoming Nanos by Cboe
- Buying straddles
- What Delta is
- Premium and risk
- the Black Scholes model
- Options for day traders
- Options strategies
- And much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's butterfly trade in Amazon (Ticker: AMZN). For this week's trade, Brian does a short put spread in the SPX.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's bear put spread trade in Apple (Ticker: AAPL). For this week's trade, Brian does a standard butterfly in Amazon (Ticker: AMZN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's long put spread in the S&P. For this week's trade, Brian does a bear put spread in Apple (Ticker: AAPL).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first reviews last week's long straddle trade in Micron Technology (Ticker Symbol: MU). Then he looks at a long put spread in the S&P.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian does a long straddle in Micron Technology (Ticker Symbol: MU).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian rings in the new year by breaking down your favorite episodes from 2021.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
What better way to celebrate the holiday season than by remastering one of the classic episodes of OPR?
For this special episode, Brian is joined by:
- Mark "the Voice of Options" Longo
- Andrew "the Rock Lobster" Giovinazzi
They discuss:
- Iron condor on AMZN
- Setting up the trade
- What did they decide?
- What happened after the paper trade?'
- Premium selling relative to earnings
- The zones, and when to avoid themCaveats, greeks, volatility, and other considerations
- And more
On this episode, Brian and Mark huddle up to answer your questions about:
- A Fig Leaf in SPY
- The Impact of Rates on the Price of Calls and Puts
- A Spread vs. An Outright Option
- Paper Trading a Split Wing Butterfly
- And much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's FOMO long-term in-the-money call in Apple (Ticker Symbol: AAPL). Then he follows that up by exploring how a similar trade in Pfizer (Ticker: PFE) can help you reduce some of your pandemic risk.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's double butterfly trade in SPX. For this week's trade, Brian does a FOMO long term Apple in the money call option. (Ticker Symbol: AAPL).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
For the first time in the history of the show, Brian explains how to do a double butterfly in SPX.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian and Mark huddle up to answer your questions about:
- A renewed look at VIX - hedge or speculative tool?
- Is Ford still the floor for cheap options trading?
- Thoughts on crypto and BITO options.
- The 2021 Options Explosion.
- And much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's trade which he did a skip strike butterfly in Coinbase (Ticker Symbol: COIN). For this week's trade, he gets a jump on Black Friday with a butterfly in Best Buy (Ticker: BBY).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's long call trade in IWM, which is the ETF that tracks the Russell 2000. For this week's trade, he does a skip strike butterfly in Coinbase (Ticker Symbol: COIN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's ratio butterfly trade in Amazon (Ticker: AMZN) after earnings. Then he suggests a long call trade in IWM, which is the ETF that tracks the Russell 2000.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian explores a ratio butterfly in Amazon (Ticker: AMZN) after earnings.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian explores a skip strike butterfly in GOOGL pre earnings.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian and Mark huddle up to answer your questions about:
- The best practices for taking off butterflies
- The most misunderstood options strategy
- ITM Puts vs. ATM Puts
- How volatility gets priced into an option
- The cheapest stock price you'd consider trading an option on
- And much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian explores a "lottery ticket" trade in QQQ using a skip strike butterfly.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian decides that it's time to mess with...the VIX! The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first discusses using a long call spread in the S&P 500. Then he looks back at the skip strike butterfly trade that he did in Coinbase (Ticker: COIN) last week.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first discusses the iron condor in the S&P 500 that he did last week. For this week's trade, he does a skip strike butterfly in Coinbase (Ticker: COIN).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first looks at how last week's trade in which he did a butterfly in the Russell 2000 ETF (Ticker: IWM) worked out. Then Brian talks about doing an iron condor in the S&P 500.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian discusses a butterfly in the Russell 2000 ETF (Ticker: IWM).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian returns with a SPX long call spread going into the Fed meeting this week.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Not many programs in any medium, let alone podcasts, survive for 300 episodes. What better way to celebrate this landmark achievement than by welcoming on the people who made it all possible...YOU
For a glimpse into the options markets prior to the onset of the pandemic, join us for a look back at this 300th episode recorded on February 19, 2020.
OPR 300th Episode SpectacularOn this episode, Mark and Brian celebrate an impressive milestone for OPR! Topics discussed:
- Should the Fig Leaf really be The Speedo?
- What to do if a call trade goes against you?
- Why aren't options free to trade?
- What does Brian think about bitcoin options?
- What portion of your portfolio should you REALLY allocate toward hedging?
- And much more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle. Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
For the first time ever, the epic OPR 100th Episode Spectacular has been completely remastered for your listening enjoyment. It's now available in one epic full-length episode complete with all of the special guests that made it such a fan favorite. So if you're new to OPR, or if you haven't listened to OPR 100 in a while, you owe it to yourself to check out this fully-remastered spectacular. Enjoy!
Guests:
- Andrew Giovinazzi, The Option Pit
- Dan Sheridan, Sheridan Options Mentoring
- Russell Rhoads, previously at Cboe and now at EQ Derivatives
- Mike Tosaw, St. Charles Wealth Management
- Mark Sebastian, The Option Pit
Topics:
- TWTR Iron Condor
- Talking VIX and Volatility
- Analyzing NFLX Put Backspreads
- AMZN Skip Strike Butterflies
- And More
On this episode, Brian and Mark huddle up to answer your questions about:
- Can the options party continue?
- How Brian chooses his trades?
- Fig leaves vs. Skip Strike Flies
- The significance of VIX falling below 20
- Paper Trading Butterflies
- And much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian and Mark huddle up to answer your questions about:
- When to use time spreads and when to avoid them
- How to trade options during earnings season
- And much more...
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first looks at his trade from last week where he dives back into time spreads with an interesting calendar in Disney (Ticker: DIS). Then, Brian talks about a short-term butterfly trade in Nvidia (Ticker: NVDA).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian dives back into time spreads with an interesting calendar in Disney (Ticker: DIS).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian and Mark answer your questions about:
- Long-term verticals
- How to get long SPY using options
- Selling Iron Condors
- Options Margin
- Dynamic Collars
- Inverted Skip Strike Butterflies
- and more...
In this episode, Brian first discusses last week's trade of selling a short put spread in Moderna (Ticker: MRNA). For this week's trade, Brian does a FOMO (Fear Of Missing Out) trade in the financial sector ETF (Ticker: XLF).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first discusses last week's fig leaf strategy (aka a leveraged covered call) in AMD. For this week's trade, Brian sells a short put spread in Moderna (Ticker: MRNA).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first discusses last week's Fear Of Missing Out (FOMO) trade in ExxonMobil (Ticker: XOM). For this week's trade, Brian does a fig leaf strategy (aka a leveraged covered call) in AMD.
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first discusses last week's long call spread trade in the S&P 500 Index (Ticker: SPX). For this week's trade, Brian does a Fear Of Missing Out (FOMO) trade in ExxonMobil (Ticker: XOM).
The Options Playbook is available at OptionsPlaybook.com, or on Amazon.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first discusses last week's fig leaf trade in Nvidia (Ticker: NVDA). For this week's trade, Brian does a long call spread in the S&P 500 Index (Ticker: SPX).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first discusses last week's credit spread in Coinbase (Ticker: COIN). For this week's trade, Brian does a fig leaf in Nvidia (Ticker: NVDA).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian looks at how the skip strike butterfly trade in Airbnb (Ticker: ABNB) from last week was a success. For this week's trade, Brian does a credit spread in Coinbase (Ticker: COIN).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian looks at the Coinbase (Ticker: COIN) back spread trade he did last week. Then he does a skip strike butterfly in Airbnb (Ticker: ABNB) ahead of earnings.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian looks at last week's Amazon (Ticker AMZN) earnings play. This week he does a back spread in Coinbase (Ticker COIN) ahead of earnings.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian looks at his back spread trade in Apple from last week. This week he does a trade in Amazon ahead of earnings.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian does a volatility spread or back spread in Apple (ticker AAPL) ahead of earnings.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian and Mark huddle up to answer your questions about:
- Skip Strike Butterfly
- Fig Leaf Strategy
- Selling a Covered Call Against a Long ITM Call Position
- Brokers Allowing Complexed Options Trading Without Margin Accounts
- Closing Short Put Options on USO
- Buying Puts on SPY
- and much more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian reviews last week's trade which was selling a cash-secured put in Ford (ticker: F). For today's trade, Brian is going short Tesla (ticker: TSLA).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian reviews last week's trade doing a back spread with calls in United Airlines (ticker: UAL) Today's trade is selling a cash-secured put in Ford (ticker: F).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian is doing a rinse and repeat with United Airlines (ticker: UAL) This week it is a more sophisticated trade. He is doing a back spread with calls.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian looks back at his FOMO traded in Johnson & Johnson (ticker: $JNJ). Then he takes advantage of recent unusual options activity in United Airlines (ticker: $UAL) to get a deal on a vertical call spread.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian first reviewed last week's butterfly trade in Zoom Video Communications (Ticker: ZM). Then he discussed buying a call option in Johnson & Johnson (Ticker: JNJ).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian discusses a butterfly trade in Zoom Video Communications (Ticker: ZM).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian discusses a butterfly trade in Zoom Video Communications (Ticker: ZM).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
In this episode, Brian discusses a long spread trade in IWM (Russell 2000 ETF).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian and Mark huddle up to answer your questions about:
- Put Ratios on AAPL
- Fig Leaf Strategy
- Fed Call Possibility
- OTM VIX Call vs. OTM SPY Put
- Exercising Put Options
- and much more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian calms his nerves with a relaxing credit spread in Exxon Mobile (Ticker $XOM).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian kicks things off by looking at his skip strike butterfly trade in Alphabet last week (Ticker Symbol: GOOGL). Then he does a rinse and repeat with another skip strike trade in Alphabet.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian discusses a skip strike butterfly trade in GOOGL.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian breaks down a wide "Super Fly" in SPX.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On the first new episode of the new year, Brian talks about a crazy condor trade in DraftKings (DKNG).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode we break down the most popular episodes of Options Playbook Radio for the insane year that was 2020. Did your favorite episode make the list? You'll have to tune in to find out...
On this episode, Brian and Mark huddle up to answer your questions about:
- The largest call positions in TSLA
- Bitcoin Options
- VIX and SPX
- Volume expectations for 2021
- Biggest options surprise of 2020
- and much more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
It's time to dive into the hottest options name of 2020. It's time to talk about Tesla ($TSLA)! On this episode of OPR Brian explores how to "pay later" for your Tesla puts. It's an interesting concept to explore for all options traders - even if you aren't slinging Tesla in your portfolio right now.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian kicks things off by discussing last week's FOMO Fig Leaf trade in Boeing. Then he looks at a long call spread in Apple going into the New Year.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian kicks things off by discussing last week's VIX trade. Then he helps you fight back against the FOMO with a Fig Leaf in Boeing.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian kicks things off by discussing last week's fig leaf trade in the airlines (JETS – JETS Airline ETF). Then he talks about a VIX backspread.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian kicks things off by discussing last week's pharmaceutical doppelganger strangle in Pfizer (PFE) and Johnson & Johnson (JNJ). Then he talks about a figleaf trade in the airlines ((JETS – JETS Airline ETF).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian kicks things off by discussing last week's long straddle trade in IWM (Russell 2000 ETF). Then Brian tries out a pharmaceutical doppelganger strangle in Pfizer (PFE) and Johnson & Johnson (JNJ).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian kicks things off by discussing airline stocks after the covid-19 vaccine announcement. Then he follows it up with a long straddle trade in IWM (Russell 2000 ETF).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian and Mark huddle up to answer your questions about:
- The best day to trade risk reversals
- Your Favorite Greek
- Puts on HTB stocks
- Ideal hedging strategies
- and much more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Brian kicks things off by reviewing his Microsoft (MSFT) backspread from last episode. Spoiler alert! It worked out pretty well! Then he follows it up with some rinse-and-repeat backspreads in Facebook (FB) and Apple (AAPL)
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
On this episode, Brian first looks at last week's trade, which was a long call in Apple (AAPL). For this week's trade, Brian discusses a 1x2 ratio spread in Microsoft (MSFT).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Join Ally for their digital conference on October 22 at ally.com/FutureOfInvesting
On this episode, Brian first looks at last week's trade, which was a long short term straddle in the airlines (JETS - JETS Airline ETF). For this week's trade, Brian discusses a long call in Apple (AAPL).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Join Ally for their digital conference on October 22 at ally.com/FutureOfInvesting
On this episode, Brian first looks at last week's trade, which was a calendar spread in LUV. Then he discusses this week's trade which is a long short term straddle in the airlines (JETS - JETS Airline ETF).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
Join Ally for their digital conference on October 22 at ally.com/FutureOfInvesting
OPR 333: Notorious RBG Butterfly Review Plus LUV Calendar
On this episode, Brian first looks at last week's trade, which was a UNH butterfly. Then he discusses this week's trade which is a calendar spread in LUV.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 332: The Notorious RBG Butterfly
This episode, Brian breaks down a Notorious RBG butterfly to speculate on a rally in United Healthcare (ticker: $UNH)
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 331: AAPL, TSLA Collar Analysis Plus COST Iron Condor
On this episode, Brian analyzes the performance of the recent Tesla (TSLA) and Apple (AAPL) collars. In addition, Brian captures the volatility of COSTO (COST) using an Iron Condor.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 330: Backward Apple Rolls, Trading Overload and More
On this episode, Brian and Mark bring you a bonus Huddle episode filled to the brim with your questions about:
- Weird backward rolls in $AAPL
- Retail trading overload
- Exercising $KODK puts on expiration Friday
- Adding more trade ideas to the OPR rotation
- and much more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 329: Our Mailbag Overfloweth with Q's about $TSLA and $AAPL
On this episode, Brian and Mark talk about how TSLA and AAPL collars perform after the split, what hot options are people trading at Ally and if a broker change requirements for option trading.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 328: Collaring the Big Splits In Tesla and Apple
On this episode, Brian first looks at last week's trade, which was a long spread in Dollar General around earnings. Then he talks about Apple and Tesla spitting their stocks next week. He also does a collar trade in Apple.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 327: SHORT-TERM SPECULATIVE PLAY IN DG
On this episode, Brian first looks at last week's trade, which was buying a diagonal call spread in Home Depot (Stock Ticker: HD) going into earnings. Then he discusses this week's trade of doing a long spread in Dollar General (Stock Ticker: DG) around earnings.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 326: Going Diagonal in HD
On this episode, Brian first looks at last week's trade, which was selling a put to buy a long call spread in Walmart (Stock Ticker: WMT). He called this a fear of missing out (FOMO) trade around earnings. Then he discusses this week's trade of buying a diagonal call spread in Home Depot (Stock Ticker: HD) going into earnings.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 325: WMT FOMO TRADE
On this episode, Brian summarizes last week's trade of buying put spreads in the Qs (Nasdaq 100 - Stock Ticker: QQQ). His trade for this week is selling a put to buy a long call spread in Walmart (Stock Ticker: WMT). He calls this a fear of missing out (FOMO) trade around earnings.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 324: Buying Put Spreads in QQQ
On this episode, Brian summarizes last week's trade where he did a diagonal spread in EBAY going into earnings. Then he discusses most of the FAANG stocks announcing earnings this Thursday. His trade for this episode is buying put spreads in the Qs (Nasdaq 100 - Stock Ticker: QQQ).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 323: Going Diagonal into EBAY Earnings
On this episode, Brian does a diagonal spread in EBAY going into earnings.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby.
OPR 322: Huddling Up About The Mysteries of the Wheel and More
On this episode, Brian and Mark answer your questions about annuities, low risk trading, what people are trading at Ally, the Wheel Strategy and much more.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 321: Huddling Up About Vertical Stop Losses and Black Swan Put Spreads
On this episode, Brian and Mark answer your questions about the expiration calendar, stopping losses from vertical spreads, "Black Swan" ratio put spreads and much more.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 320: Boost Your Income with Holiday Covered Calls
On this episode, Brian first checks in on last week's ratio butterfly trade in United Airlines Holdings. Then he talks about holiday covered calls in Apple.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 319: Another Swing at the Bat with a Ratio Butterfly in UAL
On this episode, Brian first checks in on his skip strike butterfly in United Airlines Holdings (UAL) from last week. Then he does a ratio butterfly in United Airlines Holdings (UAL).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 318: Skip Strike Butterfly in UAL
On this episode, Brian first checks in on his bearish trade in US Global Jets ETF (JETS) from last week. Then he does a skip strike butterfly in United Airlines Holdings (UAL).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 317: Piling Onto Airline Downgrades With Jets Put Spreads
On this episode, Brian first checks in on his airline doppelganger straddle in United Airlines (UAL) and Southwest Airlines (LUV) from two weeks ago. Then he does a bearish trade in US Global Jets ETF (JETS).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 316: Huddling Up About Butterflies, Time Spreads, Straddles, Trading Floors and More
On this episode, Mark and Brian huddle up to answer all of your questions. Mark and Brian discuss:
- Has the change in commission structure caused a bit change in the types of trades that Ally's clients are doing?
- Do we ever trade traditional butterflies or only skip strike butterflies?
- What is the right environment for a time spread?
- Preference to take off multi-leg trades like straddles and condors as a unit or by legging out of the individual components based on performance.
- What we think will happen to options when the trading floors come back.
- And much more…
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 315: Time to Try Out an Airline Doppelganger Straddle
On this episode, Brian tries out an airline doppelganger straddle in United Airlines (UAL) and Southwest Airlines (LUV).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 314: SPX Call Spread With A Twist
On this episode, Brian reviews the successful skip strike butterfly in Google (Stock Symbol: GOOGL) trade from last week and then he looks at a long call spread in the S&P 500 Index.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 313: Another Swing at the Bat in GOOGL
On this episode, Brian explores using a skip strike butterfly in Google (Stock Symbol: GOOGL).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 312: Huddling Up About Crude Oil, Straddles, Fig Leaves and More
On this episode, Mark and Brian huddle up to answer all of your questions in this wild pandemic market. Mark and Brian discuss:
- How you manage short calls?
- Why you would leg in or sell options against the momentum?
- Do they think USO is going away?
- What gave them the aha moment in stocks?
- And much more…(including an appearance by Brian's son).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 311: Playing FAANG Earnings With A Google Skip Strike Fly
It's FAANG time! On this episode, Brian explores using a skip strike butterfly to make a post-earnings trade in Google (aka Alphabet). You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, and on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 310: Breaking down Crude Madness in USO, MRO and XOM
On this episode, let's sell a cash secured put in Exxon Mobil (ticker symbol XOM). You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, and on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 309: Betting On Big Crude Movement With MRO Straddle
On this episode, we are looking at a straddle in Marathon Oil Corporation (ticker symbol MRO). You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, and on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
On this episode, we are selling a put spread with the intention of buying the stock in Allstate Corporation (stock symbol ALL). You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, and on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we are rebroadcasting an episode that was initially released on April 24, 2019.
We are discussing a bearish trade on Tesla. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, and on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 306: LIVE PANDEMIC HUDDLE
On this episode, Mark and Brian huddle up to answer all of your questions in this wild pandemic market. Mark and Brian discuss:
- Their thoughts (and yours) about current market valuation and volatility.
- When you should close ITM calls.
- Should you alter the structure of your iron condors?
- What happens to your options positions if the markets shut down?
- And much more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 305: A Safer Way To Get Long MSFT and Other Stocks
On this episode, Brian explores a safer way to get long exposure to Microsoft (ticker: MSFT) and other stocks.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 304: Covered Call vs. Cash-Secured Put Battle Royale
On this episode, Brian reviews last week’s successful $USO straddle trade. Then he discusses the debate of the century: selling puts vs. selling calls.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 303: A Rare Pandemic Straddle in USO
On this episode, Brian discusses a rare pandemic-inspired long straddle in USO.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 302: FOMO SPY Bull Call SpreadOn this episode, Brian discusses a FOMO (Fear Of Missing Out) SPY long call spread for the short term. If you are out of the markets and scared to get back in, here is a trade that you might consider.
The FOMO Free Financial Future digital conference from Ally Invest will be held on March 11, 2020. Learn more at https://www.ally.com/go/invest/fomofree/
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 301: Using Credit Spreads to Pay For SPX FliesOn this episode, Brian breaks down how to use credit spreads in conjunction with long butterflies to create skip-strike flies in SPX. He also reviews the impact of the recent Corona Virus on the broad market and the VIX.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 300th Episode SpectacularOn this episode, Mark and Brian celebrate an impressive milestone for OPR! Not many programs in any medium, let alone podcasts, survive for 300 episodes. What better way to celebrate this landmark achievement than by welcoming on the people who made it all possible...YOU! Topics discussed:
- Should the Fig Leaf really be The Speedo?
- What to do if a call trade goes against you?
- Why aren't options free to trade?
- What does Brian think about bitcoin options?
- What portion of your portfolio should you REALLY allocate toward hedging?
- And much more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 299: Going Diagonal Around Lowe's Earnings
On this episode, Brian explores one way to trade a diagonal call spread ahead of Lowe's earnings announcement (ticker: $LOW).
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 298: Let's Sell Some SPY Call Spreads
On this episode, Brian discusses selling a call spread in the S&P index.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 297: Disney Pandemic Woes Plus Amazon Earnings Butterfly
On this episode, Brian explores how the Coronavirus concerns impacted his Disney Iron Condor trade from last week. Then he explores a potential earnings butterfly trade on Amazon. The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 296: Soaring Into Disney Iron Condors
On this episode, Brian reviews his tasty McDonalds butterfly trade from last week then soars into a new iron condor on Disney.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 295: Delicious McDonalds Butterflies
On this episode, Brian breaks down some delicious butterfly spreads in McDonalds.
The Options Playbook is available on www.OptionsPlaybook.com, or on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send them to Brian at TheOptionsGuy@Invest.Ally.com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 294: Kicking Off A New Decade With Apple Backspreads
On this episode, Brian kicks off the decade with an options trade in everyone's favorite stock - Apple!. The Options Playbook is available on www.OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at TheOptionsGuy@Invest.Ally.com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 293: NEW YEARS HUDDLE EXTRAVAGANZA
Welcome to your New Years Huddle Extravaganza where Brian and Mark huddle up to answer your questions about:
- The return of short volatility / VIX products
- Does govt. info leak into the options market?
- Why do we call it premium?
- And more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Welcome to your Holiday Huddle Palooza where Brian and Mark answer your questions about:
- Asking more questions.
- How time decay really works.
- Fading market skew.
- And more...
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 291: ROKU Straddles and SPY Pay-Later Puts
On this episode we review the blockbuster performance of our ROKU trades and also examine SPY pay-later puts. You can learn more about this strategy in The Options Playbook.
The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 290: A Charlie Brown Christmas Tree Butterfly Today we will start by reviewing last week's long straddle in ROKU. Then we are doing a Charlie Brown Christmas tree butterfly strategy. You can learn more about this strategy on page 118 of The Options Playbook. The Options Playbook is available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we will do a rinse and repeat for another long straddle in ROKU. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 288: THANKSGIVING HUDDLE PALOOZA
On today's episode, Brian and Mark huddle up to answer your listener questions about:
- Adding more OPR episodes every week
- When to sell high call skew?
- When to trade ratio spreads?
- Should you ever be short units?
- How did Brian conceive of the Time Iron Butterfly strategy?
- and much more...
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 287: Facebook Pay Later Puts
On today's episode, we explore ways to pay later for Facebook put options. We also explore some end-of-year strategies including backward collars and covered calls.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 286: Time for a DIS Fig Leaf Trade
On today's episode, we look back at the performance of last week's ROKU straddle trade. Then we celebrate the launch of Disney Plus with a fig leaf trade (or leveraged covered call) in DIS.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 285: Slinging High Noon Straddles On ROKU
Today we kick things up a notch with "High Noon" straddles on perennial high-flyer ROKU.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 284: BA Review Plus Getting Bullish In SPYToday we look back on the performance of our Boeing trade and then explore ways to get bullish in SPY using long calls.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 283: Taking Flight Again With BA Iron Time Flies
Today we will return to the well for another round of fun Iron Time Butterflies in Boeing.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 282: Join the Streaming Wars With Roku Iron Butterflies
Today we will explore trading iron butterflies in Roku...but with a time twist. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 281: Trading Volatility With SPX Butterflies
Today we will explore trading volatility using butterflies in SPX.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 280: Lay Down Until The Urge Passes
On today's episode, we answer your listener questions about strange calendar strategies, short-term options trading, after-hours options trading and more. Do you have a question that you want answered on a future episode? Send it to Brian at TheOptionsGuy@invest.ally.com, or to the Options Insider at Questions@TheOptionsInsider.com.
OPR 279: Going Big Without Going Home in RokuOn today's episode, Brian explores a long straddle trade in Roku. However, to offset any volatility fears, he also adds a nearer-term short strangle against his long straddle position - effectively creating a time Iron Butterfly position.
Do you have a question that you want answered on a future episode or a strategy that you'd like Brian to examine? Send it to Brian at
TheOptionsGuy@Invest.Ally.com, or to the Options Insider at Questions@TheOptionsInsider.com.
On today's episode, we are answering your listener questions about trade adjustments, new versions of the playbook and the proper way to structure iron condors.
Do you have a question that you want answered on a future episode? Send it to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 277: SPY Collars With A KickerOn today's episode, Brian is joined by Mark Longo to explore different ways to pay for protection in the popular SPY ETF. Are you sitting on gains in your portfolio or are you just concerned about a market downturn? Then this is the episode for you.
Do you have a question that you want answered on a future episode? Send it to Brian at the optionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
On today's episode, we are answering your listener questions about reverse calendars, funky diagonals and much more.
Do you have a question that you want answered on a future episode? Send it to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 275: APPLYING OUR BOEING STRADDLE STRATEGY TO GE
Why limit ourselves to Boeing straddles when we can apply that same strategy to other volatile stocks including General Electric? We break down that approach on this episode of Options Playbook Radio.
Do you have a question that you want answered on a future episode? Send it to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 274: Huddling Up About Risk-Free Credit Spreads, Young Trader Education and More
On this episode, Brian and Mark huddle up to answer your questions about:
- QUESTION Erik Norstedt: Just listened to the OPR 272 episode and had a question. When you say you want to "Do the entire trade at the midpoint for even" - what exactly do you mean? Thanks.
- QUESTION FROM Welch Kwong: Huge fan of your weekly podcast. I've asked a question before and you guys were extremely helpful with your response and expertise. I have another question wondering if you can help. Let's say the infamous underlying XYZ is at $50 on a Monday, and I sell a 60/65 Call Spread @ 1.00 exp Friday (5 days). I get 1.00 credit and my risk is 4.00 potential max loss per spread. If I continue to roll position out for a credit, rolling up I dont think really matters for this question, but with enough rolling and credits to add up to 5.00, would that mean that the trade overall was at zero risk (not taking into account commissions)??
- QUESTION FROM Bob Randall: Brian, I have a 12 year old niece with a very bright mathematical mind that I am trying to get into options. I'm looking for either beginning games or age appropriate books or videos to teach her about options. I also have two editions of the Playbook and thought I might reach out to you for any suggestions.
- RELATED QUESTION FROM STEVEN PATEL: Do I need to be a math whiz to understand this options stuff?
- QUESTION FROM CHARLIEC: Quick Q for the show - What’s the weirdest thing you’ve seen in the options market?
Do you have a question that you want answered on a future episode? Send it to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 273: TRADING CATASTROPHE PUTS IN APPLE
On this episode, we'll use our Playbook knowledge to protect against a catastrophe in Apple (ticker: AAPL) using puts. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send it to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 272: HITCHING A BEARISH RIDE ON UBER
On this episode, we will expand our playbook with a new strategy - selling a call spread to pay for an out of the money put in Uber (ticker: UBER). You can call it a bearish risk reversal with a call kicker to protect against extreme upside moves.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 271: Your Q's on SPX FLIES, AMZN Ratios, Put Sweet Spots and More
It's time for Mark and Brian to answer your burning questions about:
- SPX Butterflies
- AMZN Ratio Spreads
- What is the Sweet Spot When Buying Puts?
- And Much More...
You can find more in The Options Playbook, which is available on www.OptionsPlaybook.com as well as in the Amazon Kindle store.
Do you have a question that you want answered on a future episode? Send it to Theoptionsguy@invest.ally.com, or to questions@theoptionsinsider.com.
OPR 270: SKIP STRIKE FLY BATTLE - AMZN vs GOOGLIt's time for the tech titans to face off in the battle of the Skip Strike Butterflies. Which will win - Amazon (ticker: AMZN) or Alphabet (ticker: GOOGL)? That's up to you.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
OPR 269: BA Trade Review With A MSFT Condor KickerOver the past few weeks, we have done a few Boeing (ticker: BA) trades using different strategies. Let's look review those then let's throw in a a condor kicker in Microsoft (ticker: MSFT) around earnings for some extra fun.
You can find more in The Options Playbook, which is available on www.OptionsPlaybook.com as well as in the Amazon Kindle store.
Do you have a question that you want answered on a future episode? Send it to Theoptionsguy@invest.ally.com, or to questions@theoptionsinsider.com.
OPR 268: BBBY Call Review With A Bonus BA Butterfly
Last week we looked at buying call options around Bed, Bath and Beyond (ticker: BBBY) earnings. Let's review that trade. Then let's throw in a bonus long butterfly on Boeing (ticker: BA) for good measure.
You can find more in The Options Playbook, which is always available on www.OptionsPlaybook.com as well as in the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian directly at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
On this episode, let's discuss buying options in Bed, Bath and Beyond ahead of the earnings announcement scheduled for July 10.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
On Options Playbook Radio episode 264, we discussed a successful long straddle trade in Boeing. The next anticipated earnings announcement for Boeing is expected to be held on July 24. On this episode, let's discuss a long calendar spread in Boeing ahead of that announcement.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
On this episode of Options Playbook Radio, let's discuss an interesting way to trade around the fed announcement. Let's do a skip strike butterfly in the S&P 500.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
On this episode, we first looked at last week's trade in Apple. Then he discussed doing a long straddle in Boeing.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we will look at protection strategies. In this episode we will do a long put spread in Apple.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we will do a butterfly trade around Costco earnings, which are scheduled for after the close on Thursday, May 30.
You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
LISTENER QUESTIONS
Question from Chickenluvr - Do you know if there is anyway you can tell if positions are being opened or closed intra day? Live options open interest?
Question from Meravol - What are your thoughts about selling strangles at the 1std dev levels of a particular stock? Sort of like a bollinger band strangle? Thoughts on this technique? Is it me or are there new techniques for selling strangles all the time that always tend to blow out? Aren’t you better off selling IC or IB due to limited risk?
Question from S Warz - Can you trade options through dark pools?
Question from Mr Petty - What is the sweet spot when buying options when it comes to time decay. I don't want weeklies but I also don't want to spend a fortune for a two-year option?
Comment from Tenasur - Ally is smart having a show on this network. It puts them ahead of a lot of brokers that are still figuring out their content strategy. Maybe one day Ally will pick up the rest of it and make it the Ally Options Insider Radio Network. That would be pretty sweet for ally clients to have access to this stuff 24/7. Although the rest of Mark's listeners might be a little angry.
Today we are trading covered calls in Apple. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we are using the S&P 500 to sell some at the money option premium. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we are discussing a skip strike butterfly in Amazon. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we are discussing a bearish trade on Tesla. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, and on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we are discussing a fig leaf or leveraged covered call in CSX after earnings. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
With it being in the news a lot lately, let's take a look at a diagonal call spread in Boeing before their earnings reported on April 24. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
THE HUDDLE
Question from Harold Dsouza - Hi Brian. Let me start off by saying I am a big fan of your options playbook radio podcasts. I think you are an excellent teacher. I have been meaning to reach out to you for a long time now. I am 41 yrs old and have been very intrigued by the stock market since I was a kid. I have also had an innate fear of losing my hard earned money which has kept me away from venturing into the market all these years. I have finally overcome my fear and have decided to slowly wade towards the deep end. I have been educating myself for about 4 months now, getting comfortable with the market terminology and its workings. I've been reading books on stocks & options trading and listening to podcasts. Absorbing as much as I can. I have had a financial advisor who has been handling my portfolio for the past 6 yrs and honestly I have seen very little gain in my accounts over these years. After listening to your podcasts I am motivated and I believe with the right guidance and education everything is achievable. I have decided to take control of my finances. I have been listening to your podcasts starting from day 1 and listened to them over and over again until i understand the concept. Some of them i'm struggling with, but i am determined to get there. I like the way you break it down into bite sized digestible chunks. My money has been sitting in my trading account for over 3 weeks now. I am a little anxious to take the first step which is picking the right stock. I am still conservative with my money. Hence I am looking primarily at DJI & S&P500 stocks. My focus at this point is to pick right stock that is on it's way up and sell covered calls on those stocks taking advantage of the current market rally while as the same time getting some residual income. Once I am comfortable I will be looking at handling my finances in its entirety.
I need some guidance on how to pick those stocks. I am reaching out with the hope that you could provide some guidance or point me in the right direction to help me get started and achieve my goal. I am currently on podcast # 32, I don't know if you have covered this in your later podcasts. I don't know if my approach is right. I am just going with my understanding of what I have been reading and observing and listening. Much like a well read frog in a well..lol. Look forward to hearing from you. Best Regards, Harold
Question from Joe and Linda - I have been knee deep with you guys for the last 14 months and can’t thank you enough for the wealth of information you provide. One of my favorite quotes: “ Your generosity is only exceeded by my gratitude.” I have a long commute to work in the morning and have managed to listen to all 240+ of the Options Playbook, all of the Bootcamp, 90% of the OIC stuff as well as in and out of the Options Advisor and Futures show. Also haven’t missed Options Block for the last few months… I have a few questions:
- I purchased Dan’s Trading Options Greeks book and was wondering if he had an audio version. Could easily listen to it on my morning commute.
- I seem comfortable with Bollinger Bands, ADX Charts and Volatility Charts, but I am having trouble nailing down a consistent time frame. Should I set the chart for the time I am interested trading or is the 6 month better, 1 year, 2 year....?
- Should support and resistance lines reflect 100 lines for better accuracy? 250? Thank You so much for all your help, looking forward to the future with you guys. Going to be successful enough to be able to travel Thank You guys in person! Thanks Again!
Question from Jarryd Smith - I have a question for the podcast. What is meant by 'the tent'? For example, stop the trade when it exits 'the tent'. Let's use an ATM Butterfly. Is it the ending 'tent', when at the end of the trade it would a max-loss? Or the end of the trade that would still be a profit? Or something else? For example, if I had a 100/150/200 ATM Butterfly on for $25, would I exit if it hit 100 or 200? Or 125/175? Or something else? Thanks!
Question from Thomas Weber - If I am short a deep in the money call in SPY (delta near 1), what are the odds I will be assigned the Thursday night before Friday expiration?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Let's take a look at our Nexstar fig leaf trade from last week. Then let's discuss an out of the money long call spread on Boeing. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
On today's episode, we use a figure leaf or leveraged covered call in Nexstar Media (NXST). You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Comment from Analog K71 - Hi Brian! I know that you are not making recommendations, but your diagonal spread on Pepsi was a perfect call! The short call expires almost perfectly with the underlying stock at 1.16, now my long calls are entirely risk free and possibly worth something! Just wanted to give you a tip of the hat! Thank you
Question from Da Poet - What does it mean when an options is delta skewed? Question from Holscreen - Is it safe to say that a large amount of the options business is devoted to paying for puts?
Question from Duffy - How do you handle the fixed-time aspect of trading options?
Question from Stipe 3 - Is it safe to say that most professional option traders are short premium and long theta?
Question from Merrick - Can I have a copy of the playbook? Also does Brian do any live events?
First we look at recent trades in Pepsi and Nvidia. Then on today's episode, we use a diagonal spread in Costco. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
THE HUDDLE
Comment from Georgi - Hi Brian, Thanks a lot for taking the time and elaborate on my question about OTM Calls, on Jan 17 on Options Playbook Radio! You guys are doing a great job! I have been listening to you for a while and I am very pleased with the content and the way you present it. I enjoyed how you tried to pronounce my Yahoo nickname "joro joro ". My name, in fact, it is Georgi or George in English. Cheers,Georgi G.
Question from Dave B. - Hi, I have a question about what is the best strategy to use for my trading system. I typically am only right on about three or four trades out of every 10 with long stock. The trades that I am wrong on, I take a small loss - somewhere between 5 to 10% but only 1-2% of the total capital as I typically take 10% positions. The trades that I am right on, I typically make 50% up to 200% over a 3 to 12 month period. I want to find an options strategy to increase returns via leverage, but keep total portfolio risk per trade about the same. Would DITM calls or spreads make sense to you? Or is there another strategy I could (should) consider. Thank you! Dave B.
Question from T Whitaker - I like all of Brian’s earnings strategy episodes of options playbook. It seems like Brian prefers to use skip strike butterflies whenever trading around earnings. But are there ever times when he will utilize other strategies around earnings - maybe straight long/short calls or puts when he feels there is an edge? Good show and loving the playbook website as an addendum.
Question from Leg77 - MIAX making it official with 16 exchanges. What do you guys think about more players entering the options game?
Question from LaCrute2 - Funded my Ally options account and I’m enjoying the options playbook program. Thinking about picking up the book as well. We need to have Brian and Mark do a regular show for the Ally options folks that we can listen to while we’re trading.
We start the show by reviewing the performance of our Pepsico Earnings diagonal spread from last show. This week we breakdown a bullish Christmas Tree Butterfly in NVDA going into earnings. With NVDA at $152.88 Brian wants to buy 1 Feb15 165 Call, Sell 3 Feb15 167.50 Calls and then Buy 2 Feb15 170 Calls for a net credit of $.20
Today Brian breaks down a diagonal spread around PepsiCo (PEP) earnings. Tune in to learn how you can implement a similar strategy into your own options trading. As always, if you have any questions or suggestions for future episodes of Options Playbook Radio please send them to TheOptionsGuy@AllyInvest.com
Today we will be using a skip strike butterfly in Amazon. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
TESLA SKIP STRIKE CALL FLY
- Host: Brian Overby, Senior Options Analyst - AKA The Options Guy - at Ally Invest
If you like to trade volatile stocks then TSLA has you covered. Today we're going to trade a Skip Strike Call Butterfly using Tesla options. This is an advanced play so make sure you've reviewed the Options Playbook before proceeding. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, and on the Amazon Kindle edition.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Options Playbook Radio 243: Huddling Up About Premium Harvesting and Covered Calls
Today Mark and Brian answer questions about
- How to safely harvest premium in a volatile environment by selling puts
- What criteria should you evaluate when constructing a covered call portfolio?
Options Playbook Radio 242: Huddling Up About Expiration, Calls vs. Spreads and More
- Host: Mark Longo, Founder and CEO - The Options Insider Media Group
- Co-Host: Brian Overby, Senior Options Analyst - Ally Invest
In this episode Brian and Mark huddle up to answer the following questions:
- QUESTION FROM Paul Vasquez: When is the “official” close as far as options expiration is concerned? I’ve had calls assigned and had stocks put to me when the strike was out of the money at market close but it moved in and out during after hours trading. Any light you can shed on how expirations work would be appreciated. Thanks Paul, Sacramento, CA
- QUESTION FROM B0R1NG: When do you just buy a call vs a spread? Is that ever the preferable option?
- QUESTION FROM COS7MNT: What’s the ideal time frame for trading options? Mostly short-term?
Huddle up, listeners! We're taking your questions, including:
- The options question of the week: What is the largest open options position in AAPL right now?
- Given the skew set up in equities, why would you ever buy a collar?
- Why are there no options on VXAPL?
- Will we ever have a VIX index product that you can actually buy/sell?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Huddle up, listeners! We're taking your questions, including:
- I've been lured in by the ongoing selloff in crude and have been thinking about a stock replacement in USO. Should I even bother? Is there a price where it's no longer worth it? What about timing? And more....
- Does Ally allow people to close short positions below 10 cents without a fee?
- Are there any types of trades that, without brokerage fees, would be great trades?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Now that the Fed has spoken, the market is reacting. This is a good opportunity for a front spread. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- The Fed has spoken
- What's a front spread?
- Using AAPL as an example
- Where is APPL now?
- Selecting strikes
- Selecting an expiration date
- Max risk and max gain
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
When the market conditions are right, it can be a good time to trade a butterfly in the S&P 500. Now is the time. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- As of this recording, the VIX is higher than last week, but down a bit on the day
- A review of last week
- Where is the market now?
- Let's do another 20-point wide butterfly
- Selecting strikes
- What does it cost?
- What's the maximum gain?
- What about the hedge?
- And more...
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
When the market conditions are right, it can be a good time to trade a butterfly in the S&P 500. Now is the time. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Where is the S&P 500 index right now?
- Buying a December 7 butterfly
- Selecting strikes
- What is the total risk?
- What do we want to happen?
- What's the maximum upside?
- What is the market forecast?
- What to do if the market moves against us?
- Capital requirements
- And more...
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
How can stock investors use options? You've come to the right place. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of the AAPL collar from two weeks ago
- What about capital gains?
- Remember we had a small credit
- Where are we now?
- What about additional risk?
- What's an alternative? Using an example with FB
- Using a FB option as a surrogate for stock
- Setting up the trade
- Selecting expiration and strike
- Remember, one option for every 100 shares of stock
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Huddle up, traders! For your listening pleasure, Mark and Brian answer your burning options trading questions, including:
- Question from Barry Brown - Good morning. Have the show archives been withdrawn or are they still available? Question: If we put on a poor man's covered call position and the price moves up the short call, when do you recommend rolling, etc? Thank you. Your stuff is great. Really enjoy all you efforts. Thank you.
- Question from Douglas Tilley - Hello! Regarding long stock substitution:
- With call options, are deltas additive? I.e. why are (2) 40-delta calls so much cheaper than (1) 80-delta call? This seems like buying equivalent total delta for about half the cost.
- For more accurate stock substitution, do you ever use the technique of buying an ATM call while selling an ATM put? (Vs. buying calls for a desired total delta).
What are the pros and cons (or nuances) of the 2 methods? I do notice that the 2nd method definitely requires more buying power, due to the short put. Thanks for all the education - D Tilley, DDS - Question from Splitsville - Why is long put/covered call a "collar" while short put/long call is a "risk reversal." Never understood that one.
It's always a good idea to review basics. Today we're looking a covered calls, and it's cousin, collars. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Lots a bad news around Apple
- What to do approaching the new year?
- Thinking about capital gains, taking losses
- What is the scenario?
- What will selling a covered call do?
- What is the risk? Reward?
- What would a collar look like?
- What would it cost?
- Risk and reward
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
HD is announcing earnings soon. Let's look at how to set up a straddle to cap risk. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- What's happened since last week?
- What did we learn from the NVDA backspread from last time?
- What happened to the one without earnings?
- What happened to the one that contained earnings?
- Let's take a look at Home Depot
- Earnings are coming up
- Setting up the trade
- We know the max risk and max upside
- How many contracts should we do?
- What is our rationale?
- What's the goal?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Nvidia is announcing earnings soon. Can we expect a dead cat bounce on the stock? You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- What has NVDA been up to lately?
- NVDA has an earnings announcement on 11/15
- Selecting expiration dates
- Where is implied volatility for the expirations?
- What are our expectations for IV?
- Putting on a backspread with calls
- Setting up the trade
- What is the risk?
- What do we want to happen?
- Which to choose? Why?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Being in the heart of FAANG earnings season, let's look at GOOGL and AMZN. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- What is happening in the markets right now?
- What about GOOGL and AMZN, specifically?
- What are the expected moves?
- What is our strategy?
- We're looking for positive theta, but negative vega
- Let's look at a GOOGL skip-strike butterfly
- Selecting strikes and expiration
- What is the cost? Maximum risk? Remember margin!
- Remember the risk of gap-up or gap-down
- What do we want to happen?
- What about AMZN?
- What is the expected move?
- Selecting strikes and expiration
- What is the maximum risk? Reward?
- What do we want to happen?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Huddle up, listeners. It's time for Mark and Brian to answer your questions.
- Question from BuseKrus D - New to options, and working with a small account size. Looked to put on a trade with a strategy from the playbook (Christmas tree butterfly I think) with a 57-60-66 2x3x1 call fly for a total debit of 1.30. I've always heard that for a defined risk debit trade the max risk is the amount paid. However, the brokerage was saying I needed around 740 in my account to be able to put on the trade. Is there an explanation? Is the capital required to put on a trade greater than the possible max loss on defined risk debit spreads? Thanks.
- Question from Ron S6 - What's your suggested minimum account size to start trading options?
- Question from Lance Everett: Hello again Brian. Still enjoying the options playbook radio program. It's my quick options education fix for the week. I listen on my commute to work every Thursday. I have a few questions for your next Huddle episode if don't mind. If you can only answer one then that's fine too.
- You talked front spreads on episode 227. Do you ever use more traditional ratio spreads- outside of repair scenarios, of course? Bonus points if you know where the term front spread came from.
- What are your thoughts on the crypto boom? No options yet but they are coming. Is Ally planning to jump on the train?
- Do you ever use short calendars - so selling longer term and buying the near term?
- Is there a sequel to the playbook in the works? Although the show is kind of like an ongoing live update/ sequel so that's probably better. Thanks again for making my Thursdays fun and informative.
Let's go back in time and review the last two weeks' worth of trades, including:
- Bearish COST backspread
- What was the trade?
- What did we want to happen?
- How did it turn out?
- What did we learn?
- Then there was a NFLX calendar
- What was the trade?
- What did we want to happen?
- What did happen?
- Let's look at the VIX
- What about a TSLA fly?
- Setting up the trade
- What is the cost?
- What is the upside?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Earnings in FAANG stocks are coming up, with NFLX leading the way on 10/16. We're going to do a long calendar spread with calls. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week
- Why a calendar spread?
- Where is NFLX now?
- Earnings are released on 10/16
- What is the expected earnings?
- Selecting a strike
- Setting up the trade
- What is the maximum risk? Reward?
- What do we want to happen?
- What is the net delta?
- And more
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Costco (COST) has earnings coming up next week. We're going to do a backspread with puts, or a ratio volatility spread. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week
- COST will announce earnings on 10/4
- What does the chart say?
- Let's do a backspread with puts
- What's the expected move?
- What's our take?
- Selecting the expiration and strikes
- What if we're wrong?
- What if we're right?
- What is the maxium risk? Reward?
- What happens the farther you go out in time?
- Does it work for every underlying?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Tilray Inc. (TLRY) has gone up over 100% in two days. With stocks that move like this, it's a great learning experience. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week's NKE diagonal spread
- What did we want to happen?
- What actually happened?
- What does that mean for the contract we bought?
- What do to now? Let's roll!
- Crazy moves in TLRY
- Why are the puts so pricey?
- What would Brian do? (WWBD?)
- Super high implied volatility
- And more....
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Nike (NKE) has been in the news a lot lately and will announce earnings on September 25. Let's take a look at a diagonal trade. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week
- What happened to the SPX?
- Did you get out, or did you get the stupid award?
- NKE is near all-time highs
- Setting up the trade
- Selecting strikes and expirations
- Pay attention to the delta of the trade
- Addressing different scenarios
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Now that earnings season is over, it's time to get back to the basics. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week
- Setting up a long put butterfly in SPX
- Where is the SPX now?
- Where is volatility?
- Selecting strikes
- Using the nearest-term expiration
- Settlement is at the close on Friday
- What's the upside? Downside?
- What do we want to happen?
- How to roll into a short put spread
- Remember commissions!
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Now that earnings season is over, it's time to get back to the basics. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week
- What happened if you stuck around to the close on Friday?
- How did we do?
- Markets are closed for Labor Day
- How do we take the holiday into account?
- Where is the S&P 500 right now?
- Selecting strikes and expiration
- What do we want to happen?
- What if it starts to go south?
- How to turn this into a butterfly
- And more....
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Now that earnings season is over, it's time to get back to the basics. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Why choose the S&P 500 index?
- Selecting the expiration (just two days!)
- Selecting strikes
- What is the risk?
- Remember commissions, especially with a three-legged trade
- Interesting downside considerations
- What do we want to happen?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Huddle, up listeners! It's time for Brian and Mark to take on listener questions, including:
- Options question of the week: Earnings season in in full swing. Which names will dominate your options trading this week?
- 47% - AAPL
- 37% - TSLA
- 6% - GPRO
- 10% - CBOE
- Question from Imhad1: Is HMNY now the most option-like stock ever? Back to $.08 after reverse splitting up to $14. Crazy! Who would buy an option on this thing?
- Question from Ling: I've heard some educators say that you should never hold out for the max profit in an options spread trade because that means you held onto it too long. Is this the case? Do you agree? Thx and enjoying the handbook.
- Question from Flyguy: Hey what do you guys do with your long calendar spreads? Do you close out the short leg if the stock doesn't move then keep the long leg or just close the whole spread out?
As earnings season winds down, we are looking at strategies before, during, and after announcements. Last week, we did a skip-strike butterfly in GOOGL. Let's follow up on how that went. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of the skip-strike butterfly
- What has happened to GOOGL since then?
- BKNG (formerly Priceline) is about to announce earnings
- Setting up the trade
- Selecting strikes, expiration
- What is the cost?
- What do we want to happen?
- Why a butterfly versus a skip strike butterfly?
- And more...
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
We are in the heart of earnings season, and next week a lot of the FANG stocks will announce. Two weeks ago, we did a diagonal spread in GOOGL. Let's follow up on how that went, and look at a skip-strike butterfly, as well. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- How was the diagonal spread set up?
- What happened to GOOGL since the paper trade was established?
- What are we doing now?
- Setting up the skip strike butterfly
- Selecting strikes and expiration date
- What is the cost?
- Remember implied volatilities!
- What happens if we are wrong? Right?
- And more...
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Huddle up, listeners. It's time for listener questions. If you have questions about anyoptions plays, you can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- How do you like to trade options during earnings season? Do you hold a position through an announcement?
- How do you determine a strategy or direction? How to select strikes and expiration?
- What the brokers versus the regulators have to say about defined risk trades
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
We are in the heart of earnings season, and next week a lot of the FANG stocks will announce. Let's take a look at a diagonal spread in GOOGL. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Why a diagonal spread?
- What is a diagonal spread?
- Setting up a trade
- GOOGL announces earnigns on 7/23
- Selecting the strikes and expirations
- What do we want to happen? What do we want to avoid?
- What is the risk? Reward?
- Remember margin!
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
We are back into earnings season. Let's take a look at a skip-strike butterfly in NFLX. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of the Boeing calendar spread from last time
- What happened since the paper trade was put on?
- Looking ahead to NFLX earnings
- Where is NFLX now?
- What is the expected move?
- What happens if we are wrong?
- What is the maximum return? Reward?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Today we are bringing you the best of Options Playbook Radio.
Originally posted December 28th, 2017
Mark and Brian are back to answer listener questions. In particular:
- Question from Taj Penaso - Hi, will there be options for bitcoin once the futures are traded?? or just the futures until there are tradeable ETFs available? Thanks.
-
Options #QOTW - Now it's a party! #Bitcoin futures are live on both @CMEGroup & @CBOE. But everyone's asking us the $1M question - "When will we get #Bitcoin #Options?" So we thought we'd ask you - When will we be able to trade #options on these futures? 52% - Q1 2018, 19% - Q2 2018, 14% - Q3 2018, 5% - Q4 2018
- Question from L Penguin - I have a question for the option playbook. I'm a new options trader and I want to buy a LEAP call bc it looks like the stock is going to go to up in the next 12 months, but I don't want to commit yet. I also want to generate income while I hold that position. What are your thoughts on selling the call while I have the leap? Also, this stock has an attractive dividend that I'd like to capture. Is this even possible? Interested in your thoughts, thanks!...I was thinking about buying a deep in the money call for the LEAP, and then depending on where the stock is trading at the time, sell closer to the money.
- Question from VLL98 - What happens to my options if the company declares bankruptcy? Can I still exercise my calls and buy the stock at the strike price?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Tariff turmoil is rocking the market and is beating up some stocks, including Boeing (BA). You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Implied volatility is spiking because of talk of tariffs
- BA announces earnings on 7/25
- Stock has fallen about 40 points over the last month
- Putting on a long call spread
- Selecting strikes and expirations
- What is the total cost?
- What do we want to happen?
- What is the maximum risk? Reward?
- Rolling and adjusting options
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
News out of Canada regarding the legalization of marijuana has impacted volatility of medical marijuana stocks. This is an interesting opportunity to get back to basics, including a covered call and a cash-secured put. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week
- How did the trade work out?
- Legal pot in Canada? That impacts IV for CGC
- What is our outlook?
- Setting up the trade
- What do we want to happen?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
This week we will look at a long butterfly with calls. You can find more on page 102 in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Specifically:
- A review from last week (diagonal spread with calls)
- Staying in FedEx
- Earnings! June 19'
- Setting up the trade
- Selecting strikes, expiration
- What is the maximum risk? Reward?
- What do we want to happen?
- And more...
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Huddle up, listeners. It's all listener questions today on Options Playbook Radio.
Including:
- Is there a rule of thumb on how many strikes to skip in a skip strike butterfly?
- What is Brian's favorite underlying for trading options
- Do you trade options on stocks below $5?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
We looked at doing a long call spread last week, which was net positive theta time premium. This week we will be looking at indexes. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Specifically:
- Indexes and volatility
- Rolling out of SPY put flys into credit spreads
- Trading it directionally
- Setting up the trade
- Selecting strikes
- What do we want to happen?
- What is the max risk? Reward?
- To adjust or not to adjust?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
We are back in the saddle discussing options strategies. With the VIX in the low- to mid-teens, that makes for an interesting time to look at volatility. We are going to look at a long call spread, possibly with a roll. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Specifically:
- Indexes and volatility
- Looking to do this trade for positive theta
- Selecting expriations
- What's a time bomb butterfly?
- Setting up the trade
- Selecting strikes
- What do we want to happen?
- What is the max risk? Reward?
- To adjust or not to adjust?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Mark and Brian are on location at the Options Industry Conference, the annual event that brings everyone in the options industry together. They discuss:
- Are covered calls really the best strategy for novice options traders?
- Is there a good rule of thumb on when to use a ratio spread?
- Should trading be concentrated in the last 30 minutes of the day to take advantage of liquidity?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Mark and Brian are on location at the Options Industry Conference, the annual event that brings everyone in the options industry together. They discuss:
Specifically:
- Launching new products to meet retail investor needs
- Liquidity concerns
- Exchanges fragmenting liquidity through extra strikes and expirations
- What about price improvement?
- Unlimited quoting
- What did they learn at this year's event?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
We are in the tech portion of earnings season, so let's take a look at Facebook. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Specifically:
- Where is FB trading right now?
- What is the situation with FB?
- Can we sell the put spread for enough of a credit to buy a call?
- Setting up the put spread
- Selecting strikes
- Looking to buy a call from the proceeds
- Selecting the strike
- What do we want to happen?
- What is the risk? Reward?
- How you can double up to catch up
- Some rationale on time frame
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Welcome to Options Playbook Radio
On this episode we discuss:
- A review of our earnings trade in NFLX
- A complete breakdown of our new earnings skip-strike butterfly in GOOGL.
In this episode, Brian looks at a NFLX butterfly before earnings, including:
- Selecting strikes & expiration
- Watch out for skew
- Plan the trade, trade the plan
- And more...
We are back in the saddle discussing options strategies. As we are a few days away from earnings, let's look at something that is not driven by earnings. While we're waiting for volatility to slow down, let's look at a short-term butterfly in UNH. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Specifically:
- UNH announces earnings on 4/16
- Doing a very short-term butterfly to not contain earnings
- What are we hoping to happen?
- What is the implied volatility?
- Selecting strikes
- Setting up the trade
- What is the maximum risk? Reward?
- What about time decay?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
It's time to huddle up, in which Brian and Mark address listener questions and comments.
In this episode:
- Question from Ed Bankert: Debating on using covered calls or short puts. Which is better for a less experienced options trader who wants to make money?
- Question from Duffy: How do you handle the fixed-time aspect of trading options?
- Comment from Charlie T.: Not really an options guy. I don't need the headache of yet another unknown element aka time. It’s hard enough just picking my stocks, deciding price points, exit points, etc.
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
As we approach the end of earnings season, there are still a few names left to announce. Last week we talked about a FedEx butterfly. Let's revisit what has happened since. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
Specifically:
- A review of last week's FDX butterfly
- What has happened to FDX since the paper trade?
- What is happening in Nike?
- How about a back spread?
- Looking for volatility
- Hoping the stock will move more than the expected move
- Selecting expiration
- Selecting strikes
- What is the maximum gain? Loss?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Last week we talked about a Costco butterfly. Let's revisit what has happened since. You can find more on page 102 (butterfly) and page 126 (iron condor) of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week's comparison of the butterfly vs. iron condor in COST
- Breaking down the butterfly
- What about the iron condor?
- What happened after COST announced earnings?
- Implied volatility and time decay as factors
- Moving on to FedEx, which reports earnings on 3/20
- How to set up a trade to contain the earnings
- Selecting strikes
- What is the cost?
- What is the maximum risk?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Last week we talked about a Costco butterfly. Let's revisit what has happened since. You can find more on page 102 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week
- Where is Costco trading now?
- Setting up the trade
- Why timing matters
- Comparing this to an iron condor
- Why timing matters, part two
- More risk, more reward?
- Selecting strikes
- What is the desired outcome
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Let's review the skip-strike butterfly in PCLN from last week. You can find more on page 108 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. The long butterfly (used on the Costco paper trade) is on page 102.
Specifically:
- A review of last week
- A change of name
- Did you adjust?
- Was time on your side?
- Who is up next? Costco Holdings!
- What are we looking for?
- Putting on an at-the-money butterfly
- Selecting strikes
- What is the break even?
- Avoiding the "stupid award"
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
As we enter the end of earnings season, there are still a few big names left to report, including Priceline, PCLN. This is an interesting opportunity for a skip-strike butterfly. You can find more on page 108 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Earnings + expiration + implied volatility = interesting situation
- Goal: do the trade for a net credit
- PLCN announces earnings on 2/27
- What is the expected move?
- What is the implied volatility?
- Selecting the strikes
- Remember commissions!
- What's the risk? Reward?
- When to get out?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
We are back to the playbook this week and taking a close look at Wynn Resorts. There is a lot of volatility in the stock these days with the CEO in the news quite a bit these days. We are looking at a very short-term butterfly. You can find more on page 104 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Why a very short-term trade?
- What is the desired outcome?
- What about the stock going ex-dividend?
- Setting up the trade
- Why use puts?
- Selecting strikes
- What is the cost?
- When to get out?
- Looking at net theta versus net delta
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
It's time to huddle up and take on listener questions in this episode of Options Playbook Radio.
- Question from Janice: Hi Brian! I have a question about the way you talk about the alternatives available for managing the LEAPS option put spread if the market goes down. Can you please explain?
- Question from Matt: What's up with the FB $5 calls?
- Question from Johnny Bananas: If you buy a put option and the strike price is $5 and the stock drops to $3, is it still worth money?
Continuing with the idea of FAANG stock earnings, today we're looking at an AAPL protective put. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week
- How do you protect yourself against a big move in AAPL after earnings?
- Where is AAPL now?
- What is the outlook?
- Selecting a strike and expiration
- What is the cost? Upside?
- Meeting the "deductible"
- What about a protective put spread?
- What is the cost?
- Why do it?
- How do weeklys impact the ability to buy insurance around earnings?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode, we are looking at a calendar trade around earnings in TSLA. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Where is TSLA trading as of this recording?
- When are they expected to announce earnings?
- Where is the at-the-money straddle right now?
- Setting up a trade into earnings
- Selecting a strike
- The volatility caveat
- What is the desired outcome?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode, we are looking beyond the Options Playbook and are selling a put credit spread to pay for a long call. You can find more on p. 76 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Looking at Intuitive Surgical, Inc. (ISRG), which has been on a tear lately
- Earnings pushed the stock even higher
- Expensive underlying = expensive options
- Taking a long view using LEAPS
- Selecting strikes for the put spread
- Buying the at-the-money call
- How does the trade work?
- What is the cost?
- What is the risk?
- How to close it out?
- Alternatives to the trade as described
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode, we are looking beyond the Options Playbook and are using a long combination to create a synthetic stock and buy protection. You can find more on p. 76 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- A review of last week's episode
- What is a synthetic long stock?
- Where is Facebook now?
- How to create a synthetic long position
- Adding a twist...using a put spread
- Selecting expirations and strikes
- What is the cost? Risk?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Welcome to 2018! Let's jump right into strategies, specifically around earnings. In this episode, we are looking at a long calendar spread with puts in FCX. You can find more in The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Why are we picking FCX?
- When does FCX announce earnings?
- What is the implied volatility?
- Why are we expecting a major announcement?
- Why pick a calendar around earnings?
- Defining a calendar spread
- Remember, if you do this, you're long implied volatility
- Caveats and other considerations
- Setting up the trade
- What is the cost? Risk?
- What do we want to happen?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Mark and Brian are back to answer listener questions. In particular:
- Question from Taj Penaso - Hi, will there be options for bitcoin once the futures are traded?? or just the futures until there are tradeable ETFs available? Thanks.
-
Options #QOTW - Now it's a party! #Bitcoin futures are live on both @CMEGroup & @CBOE. But everyone's asking us the $1M question - "When will we get #Bitcoin #Options?" So we thought we'd ask you - When will we be able to trade #options on these futures? 52% - Q1 2018, 19% - Q2 2018, 14% - Q3 2018, 5% - Q4 2018
- Question from L Penguin - I have a question for the option playbook. I'm a new options trader and I want to buy a LEAP call bc it looks like the stock is going to go to up in the next 12 months, but I don't want to commit yet. I also want to generate income while I hold that position. What are your thoughts on selling the call while I have the leap? Also, this stock has an attractive dividend that I'd like to capture. Is this even possible? Interested in your thoughts, thanks!...I was thinking about buying a deep in the money call for the LEAP, and then depending on where the stock is trading at the time, sell closer to the money.
- Question from VLL98 - What happens to my options if the company declares bankruptcy? Can I still exercise my calls and buy the stock at the strike price?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode, we are looking at a covered call, but with a twist: a credit spread around stock you already own. You can find more on page 80 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- FedEx announced earnings on 12/20, was up 3.5% after the announcement
- It hit the all-time high on 12/20
- What are the benefits of doing a credit spread instead of just a covered call?
- Setting up the trade: picking expiration (and why that date)
- Selecting strikes
- What is the approach?
- What is the risk?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Mark and Brian are back to answer listener questions. In particular:
- Question from Ariell - Why should I ever buy puts? I can use a stop order in the stock for free and then put that extra capital to work in my trading account. By my math using stops instead of puts can boost your account 5-10% per year. That’s a lot of cheese.
- Question from The Financial Grynch - Do you REALLY reckon long options is profitable?
- Question from Lonesome - Could you explain Theta and how it helps/hurts options traders? Should anyone ever buy OTM options?
- Question from Tom Matt - What happened to minis? Are they ever coming back?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode, we revisit an old favorite: the skip-strike butterfly. You can find more on page 108 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- Broadcomm announces earnings soon, and has been very volatile lately
- Why a skip-strike butterfly?
- What is the outlook?
- Selecting strikes
- What is the cost?
- What about the maximum gain? Loss?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode, Brian explores covered calls to get out of positions before the end of the year.You can find more on page 134 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- If you need to thin out your portfolio before the end of the year, consider covered calls
- Looking at AAPL
- Selecting an expiration
- Selecting strikes
- What is the cost?
- What do we want to happen?
- An alternative strategy
- What is the moral to the story?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
For your listening pleasure, we bring you an all-listener question episode of Options Playbook Radio.
The holiday season brings to mind covered calls.
In this episode, Brian covers:
- Last week's trade in DIS
- What did we want to happen?
- What DID happen?
- Avoidint the stupid award
- The holidays are coming, that means shortened trading weeks
- It might be a good time to trade covered calls
- Getting "free" time decay with holidays
- Where is AAPL?
- Selecting strikes
- And more...
Since it is still earnings season, it makes sense to capture the movement surrounding earnings announcements. In this case, we are looking at a bullish ratio spread in DIS.
In this episode:
- A recap of what happened with last week's FB position
- After AMZN, FB looked a little boring
- DIS reports earnings after the close on Thursday, November 9
- What is the sentiment on DIS?
- Looking at the long straddle to figure out pricing
- Setting up a backspread in DIS
- Picking the strikes and expirations
- What is the downside? Upside?
- What do we want to happen?
Today we are going to look at a ratio spread with puts on FB.
In this episode:
- A review of last week's skip-strike butterfly in AMZN.
- What was the strategy? Expectation?
- Where is AMZN now?
- What about GOOGL?
- How do you want the market to move when you have a butterfly position?
- FB earnings are coming up. Let's look at a ratio spread.
- What is the outlook?
- Setting up the trade.
- Selecting strikes.
- What is the cost?
- What do we want to happen?
- What is the cost?
- Remember volatility.
This is probably the biggest week of earnings reporting, when the most valuable stocks report. There are things to take into account because of earnings:
- Remember that implied volatilities rise around earnings
- Why a skip strike butterfly?
- Setting up the trade to pay for itself
- Where is AMZN trading right now?
- What is the long straddle aka the expected move
- Using the long straddle to select strikes
- Earnings-related risks
- What is the expected move?
- Setting up the trade
- What is the upside? Downside?
- Nuances of options pricing
- Remember time premium
Mark and Brian are back to answer listener questions.
- Question from Ejh4isu - Let's say you're short naked a bunch of puts and the trade goes against you, and you don't have the money to pony up? What can your broker do?
- Question from LCB - This is a challenging time to sell options due to low volatility. So does it stand that the opposite is true? Is it a good time to buy options? Particularly protective puts?
- Question from Andrew Lane - I tried searching for options on the major advisor news sources including Pensions & Investments and Financial Advisors magazine and came up blank. Why do these mainstream outlets ignore this space? Where should I go to learn more about options for advisors?
It's time to tackle listener questions again on Options Playbook Radio. In this episode, Mark and Brian cover:
- Question from Albert Deckel - First, I want to thank you for all the effort you place into the options playbook. I find your lessons absolutely clear, understandable and instructive....a rare combination!! I bought your book and find that, also, clear and concise and very informative. Two questions: While I understand how to convert a "Delta" into meaning, I really don't understand what consists of a "high" vs. "low" Gamma, Theta or Vega. For example, when is theta so high that it makes the purchase of an contract dubious, or Vega so high that it makes the purchase of an OTM contract desirable? Also, if I were to write an ITM put, what combination of Delta, Gamma, Theta or Vega am I looking for? Thanks so much!! Al
- Question from Tim - Why isn't it standard or maybe required to let people close out shorts for free below $.10?
We are continuing the discussion of options pricing. This week we take a deep dive into pricing of a butterfly.
Specifically:
- Looking at a 10-day butterfly in AAPL
- Picking a five-point spread
- What strikes and expirations to choose?
- What will this cost?
- What is the maximum risk and reward?
- What do we want to happen?
- What impacts the pricing of butterflies?
- Managing expectations
- Looking at the same thing for a November 17 expiration
- What is the ideal scenario?
Today Brian is covering a short call spread (which is bearish) on AAPL. All of this applies on the put side, but in this episode, calls are being featured.
Specifically:
- What dynamics do you need to think about when trading short spreads?
- Look at the most at-the-money straddle to get an idea about pricing
- Example 1: November 17 expriation; 52 days out
- Selecting strikes
- What will this cost?
- What is the max risk? Reward?
- Example 2: October 6 expiration; 10 days out
- Selecting strikes
- What will this cost?
- What is the max risk? Reward?
- Which would you choose?
- How to close out the trade?
- How to roll the trade?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode, Brian explores long spreads. Specifically, long call spreads and long put spreads. These can be found on pages 60 and 62, respectively, of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Details include:
- The dynamics of spread trading
- Using AAPL as an example
- What to consider regarding forecasting and timing
- The value of the spread does not provide quick rewards
- Selecting strikes
- What is the maximum risk?
- What is the maximum reward?
- Always look at how much time premium you have
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode, Brian covers:
- Using a pricing calculator to review different scenarios
- Buying an out-of-the-money option
- What happens to delta?
- Looking at probability
- When time is your ally
- When to buy an out-of-the-money option
- How to get low time premium
- Closer to expiration = higher delta
- What about at-the-money options?
- When to buy, and when not to
Last week, we started the back to the basics with the Greeks. You can find an entire chapter on Greeks in The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
In this episode, Brian discusses:
- Looking at probability using a 90-day option as an example
- What is the probability of an $8 move in a $60 stock in 90 days?
- Where do you think the option will be trading at in 90 days?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Now that earnings season is over it's time to get back to basics: the Greeks. You can find an entire chapter on Greeks in The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
In this episode:
- A review of last time
- Using the Greeks
- What does a delta do?
- Meet the Greeks in The Options Playbook
- As expiration approaches, what happens to delta? For that, you need gamma
- What about theta?
- Delta when a contract is in-, at- or out-of-the-mooney
- Delta moves slower than other Greeks
- You can't have slow time decay on a fast moving option
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
With MRVL still to announce earnings, it might be interesting to look at a long call spread in the name. You can find this on page 60 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
In this episode:
- A review of last time
- MRVL announces earnings on 8/24 after the close
- What is the outlook for MRVL
- Selecting the expiration
- What is the most at-the-money strike?
- Buying as much time premium as selling
- What is maximum risk? Reward?
- Selecting a different expriation
- What is maximum risk? Reward?
- Why does one trade cost more than the other?
- Time premium caveats
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
Since it's still earnings, season we are going to continue to look at expensive stocks. Today's subject is Alibaba (BABA), and we are exploring a backspread. You can find backspreads in The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
The details:
- The difference bewteen a skip-strike butterfly and a backspread
- What do we want to happen?
- Why a backspread over a skip-strike butterfly?
- Earnings-related considerations
- What is the marketplace expecting after the earnings?
- Selecting strikes
- What will this cost?
- What is the timeframe?
- And more...
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
It's time for listener questions on Options Playbook Radio. Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
In this episode Mark and Brian discuss:
- Question from LesNod: How the heck do you actually get out of straddles? One side of a straddle is always a loss!
- Question from Jelly: Can I buy longer-term options than LEAPS?
- Question from Kim D.: How high to rates need to go before I need to worry about rho?
- Question from Axel D.: Why do they update open interest only once a day?
Since we are still in the middle of earnings season, it makes sense to continue with stocks that are about to release earnings, in this case Tesla, which announces earnings after the recording of this show. You can find skip strike butterflies on page 108 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
In this episode, Brian covers:
- A review of last time
- Where did the AMZN skip strike butterfly end up?
- Where is TSLA?
- What is the outlook?
- What is the expected move?
- Setting up the trade: selecting strikes
- What's the maximum risk? Reward?
- What do you want to happen?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
We are back in earnings season. Given the possibility for big moves, we will look at the skip strike butterfly with calls, which you can find on page 108 of The Options Playbook. This is always available onoptionsPlaybook.com, in on the Amazon Kindle edition.
In this episode:
- What happens to implied volatiilty around earnings?
- The dynamics of the trade
- The more costly the underlying, the more costly the option
- AMZN announces earnings on 7/27 after the close
- What is the "expected move"?
- Picking a close expiration
- Selecting strikes
- What is the maximum risk?
- What is the break-even point?
- What if we are completely wrong?
- What is the best-case scenario?
Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
It's huddle time again on Options Playbook Radio. This is when Mark and Brian answer listener questions. Do you have a question that you want answered on a future episode? Send them to Brian at theoptionsguy@invest.ally.com, or to the Options Insider at questions@theoptionsinsider.com.
The Bobster wants to know if options can be traded outside of U.S. trading hours.
- Short answer: yes and no
- Longer answer: liquidity issues, wider spreads, other nuances.
- Should there be regular after hours?
- Should it be limited to a number of names?
- Index versus equity options
Nelly2 wants to know about assignment. Just so I am clear on the spread assignment thing. If I am in SPX, then I just get cash if the index closes inside my spread. But if I am in a stock, then I get the stock?
- Cash-settled
- Guidelines for cash-settled versus regular settled
- Sellers and buyers rights and obligations
For the last few episodes, we were reviewing skip-strike butterflies in GOOGL. You can find this on page 87 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
In this episode:
- A review of the last few weeks of strategies in GOOGL
- Looking at IBM, which will announce earnings on July 18
- Remember: earnings add a bit of volatility to the underlying
- Where is the IV?
- Having a neutral to bullish outlook
- Going out further in time. Why?
- Time is on your side
- Picking the expiration
- Picking the strikes
- What will this cost?
- What is the maximum risk? Reward?
Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: theoptionsguy@invest.ally.com.
Last week we looked at a GOOGL skip-strike butterfly. Staying on the same page, we will put on a new paper trade as a follow up for that one. You can find this on page 108 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
In this episode:
- A review of last week
- What was the trade?
- What did it cost?
- What happened since?
- What are we doing now?
- Setting up the trade
- Selecting strikes
- What about expirations?
- Max loss and gain?
Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: theoptionsguy@invest.ally.com.
Today Brian covers a skip-strike butterfly, which you can find on page 109 of The Options Playbook. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Specifically:
- What are the right circumstances for trading a skip-strike butterfly?
- A bad news event in GOOGL creates an interesting situation for options traders
- Where is GOOGL right now?
- What exactly is a skip-strike butterfly?
- What's our forecast?
- Where is the at-the-money straddle?
- Setting up the trade
- Picking strikes
- Picking expiration
- What's the maximum risk?
- What will this cost?
- Butterfly considerations
- What do we want to happen?
Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: theoptionsguy@invest.ally.com.
The Huddle: Listeners weigh in with questions
- Question from Steve - With the VIX so low, I am not selling a lot of options anymore, because I am afraid that I will not collect enough premium. Am I thinking of this incorrectly?
- Question from Lincan -My go-to options strat is to sell covered puts on stocks that I want to buy then get paid to wait. If the stock comes my way I eventually trade out of it using a covered call. What do you think? Savvy or stupid?
Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: theoptionsguy@invest.ally.com.
It's all listener questions in this special edition of Options Playbook Radio
- Question from Ejh4isu - If I buy/sell a vertical on SPX (or any equity stock for that matter) and hold until expiration, and SPX settles between the strikes, what happens ? Example: sell 2395/2400 and SPX settles at 2397.
- Question from Kraken1975 - Which of the Greeks do you utilize the most and why?
- Question from ButcherBoyz - What options trading strategy would you say is best suited to people with absolutely zero knowledge of options? Thanks.
Do you have a question that you want featured on an upcoming episode of Options Playbook Radio? Send Brian an email at: theoptionsguy@invest.ally.com.
In this episode, Brian reviews two paper trades from previous episodes and opens up a third. You can find the backspread with calls on page 84 of The Options Playbook, and the put debit spread is on page 62. Plus, this week we'll look at the fig leaf, which you can find on page 56. This is always available on OptionsPlaybook.com, in on the Amazon Kindle edition.
Today, Brian discusses:
- A review of the AMD backspread
- What did AMD do since putting on the trade?
- A review of the FCX debit put spread
- What did FCS do since putting on the trade?
- Re-introducing the fig leaf with AMD
- Using a LEAPS option
- Setting up the trade
- Picking strikes
- What will it cost?
- Why not just do a covered call?
Do you have questions that you want to have answered on an episode of Options Playbook Radio? Send them to Brian at theoptionsguy@invest.ally.com.
Last week's episode looked at a backspread with calls. That strategy is on page 83 of the Options Playbook. This week, we will cover a debit put spread, which is on page 62.
In this session, Brian covers:
- A review of last week's AMD backspread
- Why look at FCX?
- Why a long put spread?
- Erring on the side of being too short or too long
- Intrinsic value considerations
- Picking strikes and expiration dates
- Buying as much time premium as selling
Today, we will explore back spread with calls in AMD (page 84). This is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
In this episode, Brian covers:
- What are the benefits and risks of the back spread with calls?
- What has happened since we put the trade on?
- Setting up the trade.
- What is the maximum risk? Reward?
- What is the ideal scenario?
It's all listener questions in this special edition of Options Playbook Radio.
- Question from JDog - I just got an options pitch that says that options buyer lose money on 7 out of every 10 trades. Is that true?
- Question from Alan Shepard - Why would I ever buy an option when 90% of them expire worthless?
- Question from Lesnod - How do you get out of the straddles? One side of a straddle is always a loss correct?
- Question from Bob - Concerning options: I have been told to take an ATM call and put, add them together and that is the expected move. Is that correct?
If you have questions for Brian, send them to theoptionsguy@ally.com.
It's all listener questions in this episode of Options Playbook Radio. Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
- Question from JLaws: My dad is coming over to the dark side slowly but surely/ He is thinking about dipping his toes in the options pool. What product do you recommend for an options newcomer making his first trade?
- Question from Sharkcake: I have been approved to trade options by my Brokerage but I have yet to execute my first trade. What trade do you recommend?
- Question from Meats: Would you describe successful options trading as primarily singles and doubles or more swing-for-the-fences home runs?
- Question from Mary: What is the shortest expiry available for plain vanilla options?
Last week we looked at an inverse, skip-strike butterfly on AAPL before earnings (page 112). Today, we will explore a FB iron condor (page 126). This is always available on OptionsPlaybook.com, or on the Amazon Kindle edition.
In this episode, Brian covers:
- A review of last week
- What are the benefits and risks of the skip-strike butterfly?
- What has happened since we put the trade on?
- What should you have done?
- What is going on with FB?
- Setting up the trade
- What is the expected move after earnings?
- Selecting the expriation
- Selecting the strikes
- What is the maximum risk? Reward?
- What is the ideal scenario?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
It's earnings season again. As such, we're looking at an inverse skip-strike butterfly to capture some earnings move. You can find skip-strike butterflies with calls on page 108, and inverse skip-strike butterflies with calls on page 112 of The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle edition.
In this episode, Brian covers:
- A review of last week's AMZN butterfly
- Lesson to learn: Time makes the trade cheaper
- Determining strike prices
- Making sure you do not get blown out
- Looking at the implied volatility
- How to use time premium
- What is the net credit?
- What is the maximum risk?
It's earnings season again. As such, we're looking at a skip-strike butterfly to capture some earnings move. You can find skip-strike butterfiles on page 108 of The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle edition.
In this episode, Brian covers:
- A review of last week's UAL butterfly
- Lesson to learn: Don't try to hit a home run with a butterfly
- Putting on a skip-strike butterfly with calls
- Picking the expiration
- Looking at the implied volatility
- Picking strikes
- What is the net credit?
- What is the maximum risk?
For the last few episodes, we explored backspreads in SNAP. This week we shift gears to another name that is highly volatile right now, United Air Lines. Let's explore a long butterfly spread with UAL calls.
In this episode:
- A review of the SNAP backspreads
- Volatility in UAL skyrockted
- Why choose a butterfly spread?
- Choosing a one-day trade
- Selecting strikes
- Setting up the trade
- What is the cost?
- What do we want to happen?
SNAP's recent IPO has had the name in the news quite a bit these days, so let's take a look at SNAP backspread with puts, which is on page 84 (calls) and page 87 (puts) of The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle edition.
In this episode, Brian reviews:
- The SNAP backspread with calls from last time
- What has SNAP done since last time?
- Where are the SNAP options now?
- What about implied volatility?
- When will earnings be announced?
- Taking a bearish view this week
- Setting up the trade
- What is the expected move on the May 19 contracts?
- What is the cost?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
SNAP's recent IPO has had the name in the news quite a bit these days, so let's take a look at SNAP backspread with calls, which is on page 84 of The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle edition.
In this episode, Brian covers:
- A review of last week's long call on PFE
- Still figuring out the SNAP valuation
- Where is implied volatility?
- Why a backspread instead of a straddle?
- Selecting the expiration date
- What about earnings?
- Selecting strikes
- What is the expected movement?
- What is the risk? Upside?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
This week we will buy options in a stock that is at the low end of the implied volatility range. You can find long calls on page 40 of The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle. To review the long calendar spread with calls, see page 90.
In this episode:
- A review of last week's AAPL long calendar spread
- Implied volatility of PFE is somewhat low
- General rules of buying options contracts
- What contract to buy and why?
- Picking the strike and expiration
- What will it cost?
- You get more delta when you have more time on OTM options
- What about the dividend?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
Today we are going to take a look at long calendar spread with calls on a little known company called Apple. This is on page 90 of The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle.
Specifically:
- What can you do going into earnings?
- How to "control" implied volatility around earnings
- AAPL indicates that it will announce earnings on April 25
- What are the implied volatilities for the at-the-money calls expiring around that date?
- Setting up the trade: picking strikes and expirations
- What is the net cost for the spread?
- What do we want to happen?
- Plus, reviewing the GPS butterfly and the ABT straddle
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
Today we are looking at a long straddle. You can find this in The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle.
In this episode, Brian discusses:
- A review of the long GPS put spread that was adjusted into a butterfly
- How was the butterfly constructed, and for what price?
- What has happened since the adjustment?
- What to do now?
- Remember, butterflies love time decay
- Moving into the healthcare sector, implied volatility is low in Abbot Labs
- Where is 30-day IV in Abbott Labs?
- When does ABT announce earnings?
- Putting on a 35-day straddle
- Picking strikes
- What is the cost?
- What about a fig leaf? (aka leveraged covered call)
- Picking the strikes
- What is the cost?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
Last week we put on two long spreads to coincide with GPS earnings. We knew that one of them would not work, and planned on adjusting it into a butterfly. In this episode, Brian rolls the long put spread into a butterfly.
Specifically, Brian discusses:
- A review of last week
- What happened since GPS announced earnings?
- Which trade didn't work?
- Adjusting the long put spread
- What do we want to happen?
- Setting up the trade, picking strikes
- What is the net risk? Reward?
- What is the plan until expiration?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
Today we are looking at long call (aka bull call) spreads. You can find this in The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle.
Brian discusses:
- A review of last week's bull call spread in SJM
- GPS announces earnings on 2/23
- Setting up the trade
- Picking expirations to capture earnings and beyond
- Picking strikes based on the expected move
- What is the cost?
Today we are looking at long calendar spreads. You can find this on pages 90 (calls) and 93 (puts) in The Options Playbook, on OptionsPlaybook.com, or on the Amazon Kindle.
Brian reviews:
- Review of last week's TSLA calendar spreads with calls and puts.
- Long calendar spreads, or bull calendar spreads.
Today we are looking at calendar spreads. You can find this on pages 90 (calls) and 93 (puts) in The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Brian reviews:
- Review of last week's AMZN iron condor
- Long calendar spreads = net long volatility
- That doesn't mean that you want a volatile market
- When might this happen? Earnings!
- Setting up the trade
- Picking expirations
- Picking strikes
- What is the risk? Reward?
Today we are looking at iron condors. You can find this in The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Specifically:
- A review of last week's F call purchase
- What happened since we put on that trade?
- Who announced earnings this week?
- What can we do with AMZN?
- Where is the AMZN straddle trading?
- What is the over/under on the upside? Downside?
- Rationale for picking expiration
- Rationale for picking strikes
- What is the maximum risk? Reward?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com
Today we are looking at back spreads with puts. You can find this in the back spreads section of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Brian covers:
- A review of last week
- What happened since?
- What to do now?
- What is the risk? Reward?
- What to do now with earnings season?
- Let's look at Ford (F)
- How to avoid the crush of volatility
- Take a look at time value
- Where is the market right now?
- What is the upside? Downside?
- What do we want to happen?
As promised last time, we are looking at one off trades. You can find this in the back spreads section of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Specifically:
- How to protect ourselves around the election
- How do back spreads work?
- What are we likely to gain?
- What are we likely to lose?
- What if we ride until expiration?
- What is the likelihood of a net credit?
As promised last time, we are looking at how to manage positions, specifically rolling positions. You can find this in the appendix of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Specifically:
- What does rolling a covered call actually mean?
- When do you want to roll?
- When do you NOT want to roll?
- What are we doing if we roll up and out?
- What if we just go out, not up?
- What if we go up, not out?
- Doing things quickly is key
- What is the likelihood of assignment?
As promised last time, we are taking a deeper dive into covered call writing. You can find this in the beginning section of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindleversion.
Specifically:
- Underlying. What stocks make the best candidates for covered call writing?
- Volatility: It's like Goldilocks...not too much, not too little.
- What can we do in AAPL? BAC?
- Earnings impications for timing
- How far out is the right amount?
- When to roll?
In this episode, Brian takes on listener questions, including:
- Question from Choas - Brian, as a beginner, I have done quite a bit of research on the subject of options. Now of course, I would start by doing the right thing - that is writing a covered call on one of my long positions. The problem I am having, believe it or not, is not knowing the direction of the stock or the expiration, the problem is more basic - not knowing which transaction to choose. As it appears, very little is said about buying to open, buying to close, selling to open and selling to close. These terms are essential in order to communicate the right information. I would therefore appreciate it if you took a few moments or your time and explain each step, and use examples to clarify. Your presentations are fabulous and I have learned a great deal of theory from you. Thank you
- Question from Goldmaker - I sold a put on a specific stock with a 115 strike price, that was going to expire next week. The stock a gone below, down to 113.48, and I am prepared to take the stock. It was my understanding that the stock would be put to me if a stock went below 115. Right now, the option has not been exercised and I have not been assigned. What action do I do to make them give me the stock at 115?
In this episode of Options Playbook Radio we are covering a long butterfly spread with puts. You can find this on page 104 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Specifically:
- A review of last week's trade
- What was the sentiment?
- What was the set up?
- What was the cost?
- What happened since we put on the trade?
- Rolling this into a short put spread
- Don't forget about volatility!
- How do we roll this?
- What is the new position?
- What is the cost?
- Beware of over trading
In this episode of Options Playbook Radio we are covering a put butterfly spread. You can find this on page 104 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Brian covers:
- A review of the last few weeks
- What happened at the OPEC meeting?
- What resulted in the market?
- Butterflies like time decay and decreases in volatility - IF you are correct on your forecast
- Where is MRO now?
- What does that mean for our positions?
- What could happen next?
- Don't discount volatility
- Setting up a new trade in the S&P 500 Index
- Picking strikes and expiration date (it's a Monday!)
In this episode of Options Playbook Radio we are covering a call butterfly spread. You can find this on page 102 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Brian covers:
- A review of the last strategy
- Taking advantage of the OPEC meeting and the ensuing oil volatility
- Putting on a butterfly in MRO
- Picking the expiration and the strikes
- What will it cost? What is the upside? Breakeven?
- What is our outlook?
In this episode, recorded the day before Thanksgiving 2016, Brian is joined by Mark, and they take on listener questions and comments.
This includes:
Options#QuestionOfTheWeek:
Great traders need many weapons in their arsenals. But everyone has a favorite. What is yours?
- Vertical/Ratio Vertical
- Iron Condor/Iron Fly
- Straddle/Strangle
- Covered Call/Short Put
What is Brian's answer? Long Butterflies!
Listener questions include:
- When the market is rallying, what's wrong with just buying calls?
- Has anyone studied the effect of selling weekly options vs monthly options INCLUDING commissions? Seems like that would be a big factor when writing so many contracts.
- Are skip-strike butterflies the same thing as broken wing butterflies?
- Why trade volatility versus direction or income?
- Discuss the delta of VIX
What situations might be a good time for covered call writing? There is also the long put spread from last week to discuss. You can follow on pages 50 and 62, respectively, of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
This week, Brian discusses:
- What has happened to the market since the election?
- Why is the VIX going up when the market is going up?
- How did we do from the long put spread from last week?
- What were the risk parameters?
- Covered call writing
- Don't forget about the Thanksgiving holiday
- What is the timeframe?
- Looking for the Goldilocks of volatility
- Avoid earnings
- Setting up the trade
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
For the last few weeks, we have been looking at earnings plays, including a short call spread (page 64), and today we're looking at a long put spread (page 62) of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
On tap for today:
- Pushing all-time highs post-election
- Reviewing last week's FB trade
- Where is the market right now?
- Putting on a long put spread in SPY
- What is the timeframe?
- Setting up the trade
- What is the maximum risk? Reward? Break-even?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
'Tis the season. Earnings season, that is. Let's take a look at another earnings play, specifically a short call spread. You can find this on page 80 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Today Brian discusses:
- A review of last week's CVX front spread
- Facebook (FB) announced earnings just after this recording
- What is the expected move post-earnings?
- Do we agree with that prediction?
- Selecting an expiration
- Setting up the trade
- What's the risk? Reward?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.
In this episode of Options Playbook Radio, we are talking about a front spread with calls.You can find this on page 80 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
In this episode, Brian discusses:
- A review of last week
- Chevron (CVX) will announce earnings before the open on 10/28
- What kind of move can we expect?
- Setting up the trade
- Picking the expiration
- What strikes to use?
- What is the maximum upside? Risk?
- What about margin?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com
We are going to look at a backspread with puts this week. You can find that on page 87 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.
Today, Brian discusses:
- A review of the MRO covered call from last week
- Making an adjustment based on new outlook
- Walgreens, which is merging with Rite-Aid, has earnings coming up
- What can we do with that? A backspread with puts
- What is the outlook?
- Setting up the trade
- What is the risk? Reward?
- How to stay out of the valley of death
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com
We are taking a look at covered calls today. If you want to follow along, we are on page 50 in the Options Playbook. You can always follow along on OptionsPlaybook.com, or on the Amazon Kindle edition.
Today, Brian covers:
- A long-term straddle that we looked at about four weeks ago on the S&P 500
- A covered call in MRO
- What is the option chain in MRO?
- Figuring out the upside
- What is the cost?
- What is the outlook?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com
In this episode, Brian and Mark huddle up to answer listener questions. They take on:
- Question from Yukoner: Do you ever do spreads in LEAPS. Why and how? So I used to trade the LEAPS rather than buy the stock. Is that a good use case?
- Question from Tradecraft: Is there a correlation between high options OI and options price levels?
Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com
This week we are going to look at a cash-secured put, which you can find on page 48 of the Options Playbook. You can always find it online at OptionsPlabyook.com, or in an Amazon Kindle version. Today Brian discusses:
- OPEC decided to cut oil production, so oil prices and stocks spiked
- Looking at Marathon Oil, MRO
- Where is it trading today?
- How to put on a cash-secured put in MRO?
- Why is the timing right to do an oil play?
- Selecting the expiration
- Remember that you want to be put the stock
- Where are you willing to buy the stock? That's how you pick your strike
- Where is IV right now?
- What will it cost?
- What is the maximum cost if you're put the stock?
- What happens if you're wrong on the strike?
- How to get more upside? Sell a put to pay for a bull call spread
Do you have a question that you would like to have answered on Options Playbook Radio? You can submit your feedback right on the Options Playbook Radio Facebook page. There, you will also find past episodes, and more from your host Brian Overby.
Last week we talked about diagonal spreads, which can be found on page 99 of the Options Playbook. You can always find this on the Options Playbook website.
First up, a listener question:
- Question from Mike - Hello Brian, Love the show. I am curious as to why one would ever use a collar instead of a bull put spread. Am I incorrect in thinking these strategies are identical with respect to risk/reward? Since the put spread will cost less to put on, it seems like the better trade. As an additional advantage, there is no need to tie up the capitol to hold the underlying.
- If you want to read the blog post Brian mentions, you can find it here.
Next, a review of last time:
- We were bearish going into earnings in LEN
- What happened after the paper trade?
- The gaggle of securities (it started out as a strangle)
Do you have a question that you would like to have answered on Options Playbook Radio? You can submit your feedback right on the Options Playbook Radio Facebook page. There, you will also find past episodes, and more from your host Brian Overby.
We have recently been doing a lot of long spreads, and then adjusting based on market conditions. If you want to follow along with The Options Playbook, you can find long spreads on page 60, and long strangles on page 72.
Today, Brian discusses:
- A review of last time
- News since the last episode
- Putting on a position because of the chart
- Looking at selling aput below the 2100 strike
- What will it cost?
- What is the current position?
- We now have a gaggle of securities
- Putting on a diagonal spread in LEN
Do you have a question that you would like to have answered on Options Playbook Radio? You can submit your feedback right on the Options Playbook Radio Facebook page. There, you will also find past episodes, and more from your host Brian Overby.
For the last few weeks, we have been discussing long put spreads, which can be found on page 62 of The Options Playbook. You can always follow along online on OptionsPlaybook.com.
This week Brian discusses:
- A reivew of the last two trades he covered
- What has the market done since?
- Where does it leave the spread?
- What do we do now?
- How will we reduce risk?
- Setting up the trade
- When do we close out?
- Setting up a new trade
- What is the outlook?
Do you have a question that you would like to have answered on Options Playbook Radio? You can submit your feedback right on the Options Playbook Radio Facebook page. There, you will also find past episodes, and more from your host Brian Overby.
Continuing with the long SPX put spread that we put on last week, Brian looks at current market conditions and decides if and how to make any adjustments. If you want to follow along in the Options Playbook, this is on page 62. You can always find this information on OptionsPlaybook.com.
This week Brian discusses:
- What happened after the Fed meeting last week?
- A recap of last week's strategy
- What did the market do?
- Based on how the market moved, how do we make an adjustment?
- Picking the strikes
- What is the risk? Cost basis?
- What are the possibilities within the strikes of the butterfly?
- Given where the market is, what should we do?
- What is the outlook?
- What is the adjustment
Do you have a question that you would like to have answered on Options Playbook Radio? You can submit your feedback right on the Options Playbook Radio Facebook page. There, you will also find past episodes, and more from your host Brian Overby.
This week, we are moving past earnings to look a the overall market. To do this, we'll try a long put spread, which is on page 62 of The Options Playbook. You can always find the information online at OptionsPlaybook.com.
Today, we discuss:
- A review of last week's bull call spread on FL
- What was our forecast?
- What happened?
- Now that earnings are mostly over, let's look at the general, overall market
- Setting up a long put spread in the S&P 500
- Picking expriations: why weekly options over standard options?
- With these expriations, we are selling more time premium that we are buying
- Picking strikes: where is the SPX right now?
- Will Labor Day impact the spread?
- What was the net cost? Risk?
- Don't forget about commissions!
To follow along, you can find long call spreads on page 60 of the Options Playbook. You can also play along online at OptionsPlaybook.com In this episode, Brian discusses:
- A review of last week's episode featuring TIF
- What happened since putting on the TIF paper trade?
- Moving on to FL, which reports earnings tomorrow, August 19
- Where is the long straddle trading on the options expiring on August 19?
- What is the outlook on FL?
- Setting up the trade
- What is the risk? Reward?
This week Brian takes a look back at his previous earnings trade on PCLN. What went right? What went wrong? Tune in to this episode of Options Playbook Radio to find out.
Have a question for Brian? He's happy to answer them directly via the TradeKing Facebook Page - https://www.facebook.com/tradeking.
We're still in earnings season, so let's take a look at Priceline. Sticking with butterflies, this week we are looking at put butterflies. You can find this on page 104 in The Options Playbook, but you can always find this online at OptionsPlaybook.com.
This week we cover:
- Review of last week's GOOG butterfly
- What a difference choosing expirations can make
- Upcoming Priceline earnings (before the open on Aug. 4)
- What is the at-the-money long straddle?
- What is the outlook?
- Setting up the butterfly
- What kind of move is the market expecting?
- What is our maximum risk?
- Reward?
- And more
'Tis the season...earnings season. Instead of avoiding earnings, we are jumping right in, and are going to do so with a long butterfly with calls on GOOG. If you want to follow along with the book, you can find this on page 102.
Today, Brian covers:
- A review of last time, including a mistake we made with the math
- GOOG announces earnings after the close on July 28
- Setting up a butterfly to capture earnings numbers
- What is the most at-the-money straddle in the nearest-term expiration?
- Why do we look at this straddle number?
- What is the outlook?
- Setting up the butterfly
- What kind of move is the market expecting?
- What is our maximum risk? Reward?
- Choosing the 9-day versus the 2-day expiration
Brian is back to discuss how things went with the the long call that he discussed last week. Specifically, he discusses:
- The AMZN long call spread from last week
- Turning that into a standard butterfly with calls
- What happened after we placed the paper trade?
- What was the adjustment?
- Where do things stand now?
- How would we close the position?
- What is the risk? Reward?
We are back to strategies this week and are looking at long call spreads...with a twist. If you're following along at home, this is on page 60 of the Options Playbook, but you can always find it on OptionsPlaybook.com.
Jumping in:
- AMZN is announcing earnings in two weeks, but we are looking to avoid those earnings
- We're taking a traditional long call spread, and trying to make it time/premium positive
- What does that mean?
- What is the break-even?
- Setting up the trade
- What adjustment would we make to it?
Mark and Brian are diving in to listener questions, including:
- Question from skeball: Where do you see the VIX going, and how will impact stock picking in this market?
Which leads to:
- Who does the volatility swings benefit? Day traders? Swing traders? Long-term traders?
- Summer doldrums
- No more earnings
- What will the Fed do?
- When/how does VIX revert to the mean?
In this episode, Brian is joined by Mark to take on listener questions.
They discuss:
- What indexes or products work best for synthetic covered calls?
That brings up:
- Fig leaf
- Greeks
- How to roll
In this episode, Brian is joined by Bill Ryan, Managing Director at the NYSE.
They discuss:
- What are ByRDs?
- What about pricing?
- Is time on your side?
- Probabilities and their relative factors
- VWAP matters: find out more at nyse.com/byrds
- What products have ByRDs?
- What type of expirations are there?
- Can you sell ByRDs to bring in a credit?
- Can retail customers trade ByRDs?
Mark and Brian are taking your questions.
- Question from Jim Duggan: FOMC and Brexit are approaching. What are some good ways to use options to play Brexit or FOMC?
- Question from Vegan: For an options newbie, how would I construct a trade with most possibilities to win? I understand that the potential profit might be small. What time frame is good as well?
This week, we are continuing the conversation about long butterfly spreads with puts that started last time. You can find this information on page 104 of the Options Playbook, or on OptionsPlaybook.com.
In this episode, Brian discusses:
- A review of last week.
- What was the plan?
- Does the plan need to be revised?
- Can we still make a profit?
- How to manipulate the legs to create a new, profitable positions.
- What is the new plan?
- What is the maximum risk? Reward?
- What do we want to happen?
Today we're looking at a strategy based on the overall market, a long butterfly with puts. You can find this on page 104 of the Options Playbook, or you can always find it on OptionsPlaybook.com
Specifically:
- Looking at the overall market: where is the S&P 500?
- Will there be a new all-time high, or will there be a pullback?
- European verus American style options
- Weekly versus monthly options
- Setting up the trade
- Maximum risk & profit
- What will happen to implied volatilities?
- Contingency plans
Coming to you live (to tape) from the Options Industry Conference, Mark and Brian are back and they have more listener questions to address. This week, they are taking on:
- Do the remaining specialists/DPMs do a good job of making markets, or are there too few of them?
- Are there too many strikes? Expirations?
- Why have the more exotic stratgies become more popular?
Huddle up, listeners. We're taking listener questions.
Vega: Do puts and calls become more expensive ahead of events due to risk premium? If so, how do I avoid that?
- When do you want implied volatility to increase?
- How to avoid swings around earnings
Critter: Is selling premium less risky than buying premium?
- Build your strategy around your forecast
- Common misconceptions
Huddle Up: Listener questions and comments
- Bean bag: Could you discuss the put/call ratio, its use, and metrics as a tool?
- Reid: Do options stats or unusual activity predict stock movements accurately?
You can find information on iron condors in the Options Playbook on page 126. You can also always find all of this information on OptionsPlaybook.com. In this episode, Brian discusses
- The AMZN iron condor from last week
- General guidelines for earnings trades
- A review of the GOOG trade from a few weeks ago
- A deep look at TSLA
- What is the ATM straddle for the nearest expiration?
- Picking the strikes
- Determining the over/under so you can stay away from that
- What is the upside? Downside?
- Understanding the odds. Remember that you CAN lose.
- Rationale for the expiration date
With it being earnings season, let's take a look at a strategy around AMZN earnings. You can always find information on iron condors on OptionsPlaybook.com.
Today Brian discusses:
- A review of the GOOG skip-strike butterfly from last week
- Taking a look at AMZN going into earnings
- Where is the long straddle of the nearest-term expiration?
- Why a skip-strike butterfly didn't work in this case.
- Why was this the case?
- How to make the most of the high implied volatility?
- How to get way out-of-the-money?
- Setting up the iron condor
- What is the maximum risk? Gain?
Today we are looking at a skip strike butterfly with calls on GOOG, which announces earnings after the close the day of this recording. You can find this information on page 104 of the Options Playbook, or on OptionsPlaybook.com. This includes:
- A quick review of the VZ paper trade we put on last week
- What's going on in GOOG
- Why are we setting up a skip strike butterfly?
- Setting up the trade
- How are we paying for the trade?
- What's the upside? Downside?
- The worst case scenario
- The best case scenario
Last week, we initiated a bull put spread paper trade in GPS, and reviewed a YHOO skip-strike butterfly. Now, we will review. Specifically:
- Reviewing strategies. What strategies work best and when?
- Looking at the long call, which is on page 40 of The Options Playbook, or on OptionsPlaybook.com
- What happened since GPS announced sales?
- What is going on with YHOO?
- Setting up a paper trade in VZ
- What is notable right now in VZ
- Looking at buying an out-of-the-money put in VZ
- The setup, the cost, the delta, and IV
- Under what circumstances would you buy an out-of-the-money option?
Last week, we discussed skip-strike butterflies on YHOO, and put on a paper trade. Today, we are looking at Gap Stores (GPS), and putting on a paper trade that is based on a neutral to bullish outlook.
Specifically:
- A review of last week
- What did we want YHOO to do?
- What did YHOO do?
- Time decay and expiration
- Taking a look at GPS
- Where is the underlying?
- What is the trading range?
- What is the outlook?
- Setting up the trade
- What is the maximum risk?
- What is the maxiumum upside?
Great thanks to everyone who participated in the Options Playbook Radio 100th episode extravaganza. Today, we are heading back to the playbook and looking at a YHOO skip-strike butterflies with an approximately 15-day expiration.
Specifically:
- Avoiding the expiration that has the earnings
- Setting up the trade
- What is the maximum profit?
- What is the maximum risk?
- What do we want to happen in YHOO?
- When would you use a skip-strike butterfly?
- What's the worst-case scenario?
Today, Brian and Mark take a look at back at episode 96 with Mark Sebastian from Option Pit.
They discuss:
- What was the setup at the time for AMZN?
- What position did we create?
- What was the net cost?
- What was the outlook?
- What does Mark Sebastian think of the trade?
- What would Mark do?
In the last few episodes, we have talked to other options experts. Today is no exception, as we are joined by "Uncle" Mike Tosaw from RCM Wealth Advisors.
They discuss:
- Episode 93: Backspreads with Puts on NFLX recap
- Synthetic options
- The impact of volatility
- Directionality into earnings
- What will happen to volatility if your forecast is correct?
- And more
The 100th episode of Options Playbook Radio is the gift that keeps on giving. In this third part of the celebration, Mark and Brian are joined by Russell Rhoads, from the CBOE Options Institute.
They discuss:
- What is the VIX?
- History of the VIX
- Other volatility products
- Where are these products traded?
- How does venue impact the cost of trading?
- How are people using volatility products?
- Is there a difference between ETFs and ETNs on volatility?
- A good candidate for a paper trade
We are continuing with the 100th episode spectacular. Today, our featured guest is Dan Sheridan from Sheridan Options Mentoring.
They discuss:
- A review of a TWTR iron condor paper trade
- What was the situation when the trade was put on?
- What does Dan think?
- Doing a spec trade
- What would Dan do?
- Should we have considered weekly options?
- What about gamma?
- Did we use the baseball bat for its intended purpose?
For this special episode, Brian is joined by:
- Mark "the Voice of Options" Longo
- Andrew "the Rock Lobster" Giovinazzi
They discuss:
- Iron condor on AMZN
- Setting up the trade
- What did they decide?
- What happened after the paper trade?
- Premium selling relative to earnings
- The zones, and when to avoid them
- Caveats, greeks, volatility, and other considerations
- And more
Today it is time to take a longer term view on oil. How will this happen: the fig leaf strategy. For those of you at home, you can find this on page 56. You can always find the information on OptionsPlaybook.com.
Today, Brian discusses:
- Will OPEC work with oil producers to cut production?
- Taking a look at oil services companies, specifically XOM
- What is the fig leaf strategy?
- Setting up the trade
- Does the company pay a dividend?
- Taking a longer-term outlook for XOM
- Looking for a high-delta option contract
- Picking the right contracts
- What's the maximum risk? Reward?
- What is the outlook?
- And more...
We're back from the listener question/congressional aide briefing break, and ready to move through the Playbook. Today we are looking at an iron condor going into earnings. This is on page 126 of The Options Playbook, or you can always find it on OptionsPlaybook.com.
Specifically:
- Looking at a TWTR paper trade going into earnings (which, at the time of this recording, was going to be in 17 minutes)
- TWTR is at the highest IV it has ever been before earnings
- The long straddle is implying at least an 18% move in TWTR after earnings (non-directional)
- Setting up the trade
- Picking strikes
- Selecting the right expiration
- What is the net cost?
- What is the risk? Reward?
- What do we want to happen?
In this episode, Brian beams in from Capitol Hill and is joined by Mark to answer listener questions. You wanted to know:
- Question from 777-Are there expectations for a Google stock split anytime soon? How would that impact the options trading?
- Question from Hot Emini-There is a big disconnect in retail that theta is the end-all greek. But isn't vega the king greek for pros? What about gamma? Where does that fall in the mix?
In this episode, Brian is looking at skip strike butterflies with call options. You can find this information in the hardcover and Kindle versions of The Options Playbook, and it's always available on OptionsPlaybook.com.
He discusses:
- A review of last week's iron condor
- What happend to AMZN?
- Why do this around earnings?
- What is the marketplace expecting? Aka expected move or over/under
- How to set up the trade
- What do you want to happen?
- What is the risk? Reward?
Today we are looking at putting on an iron condor on AMZN before earnings.
Specifically:
- Why volatile markets are very interesting trading environments
- Where is AMZN?
- How to use volatility to create a position
- What is the rationale?
- What is the outlook until earnings?
- Setting up the trade
- What is the maximum risk?
- What is the maximum gain?
- What is the goal?
Today we are taking on listener questions, specifically about options pricing. You will be able to find information on options pricing in the Options Playbook. You can always find it on OptionsPlaybook.com.
Today, we discuss:
- In a bull call spread, or even a bear put spread, (AKA long spreads), how to you manage time decay?
- Picking your strikes
- What is the outlook?
- Remember volatility
- What is the biggest benefit of a spread?
- And more
In this episode, we are going to talk about a trade around earnings. One of Brian's go-to trades when he thinks that there will be more volatility than what the market is predicting, he turns to backspreads, in this case with puts. You can find this on page 87 of The Options Playbook, or, as always, on OptionsPlaybook.com.
In this episode, Brian discusses:
- NFLX announces earnings on 1/19, so we will set up a paper trade to discuss that week
- What is the market saying?
- How will this inform setting up the trade?
- What do we want to happen?
- What will it cost?
- What is the risk?
In this episode, we are discussing how to adjust positions. You can find this information on page 104 of The Options Playbook.
Brian goes into more detail with:
- How to adjust a put butterfly?
- How was the butterfly set up on Monday?
- What was the direction?
- What was the concept of this strategy?
- What has happened since the trade was put on?
- How, and when, to make adjustments
- What do we want to happen?
- Do you want to see a video of what was just discussed? Send Brian an email through Facebook, or go here.
We have been talking about double diagonals for the last few weeks, which we are continuing in light of the Fed meeting yesterday. You can find this information on page 87 of the Options Playbook, or on OptionsPlaybook.com.
Today, Brian discusses:
- The double diagonal strategy around GE
- It’s been almost 11 years since the Fed raised rates
- Where was GE trading?
- Setting up the double diagonal in GE
- Don’t forget commissions!
- What is the maximum reward? Risk?
- Don’t manage risk, and you’ll get the stupid award
- What do we want to happen?
- What is the market saying?
- So, what did happen?
- And more
You can find double diagonals on page 128 of The Options Playbook, or you can follow along online on OptionsPlaybook.com.
Today, Brian discusses:
- A review of double diagonals
- Setting up a double diagonal on the S&P 500 index
- Yes, you can do this with options expiring tomorrow
- What will this cost?
- What do you want to happen?
- What is the risk? Reward?
- And more
You can find information about double diagonals on page 128 of the Options Playbook, or you can always find it on OptionsPlaybook.com.
In this episode, Brian discusses:
- Will the Fed increase rates the next time they meet?
- How can using double diagonals take advantage of the probability of the Fed increasing rates?
- Structuring the double diagonal to wrap around the news from a timing point of view
- What about volatility?
- Setting up the trade
- What do we want to happen?
- What is the biggest thing to worry about?
We are moving on to double diagonals, which can be found on page 128 of the Options Playbook. You can always find this on OptionsPlaybook.com.
In this episode, Brian covers:
- Double diagonals overview
- Why are they called diagonals?
- Setting up the trade
- Risks and benefits
- And more
Options Playbook Radio 87: Listener Questions on the Short Squeeze & Brokers
It's time to huddle up as Mark and Brian take on listener questions. Topics include:
- Does "hard to borrow" apply to options the way it does to stocks?
- Who is the best online broker for stocks, options, and futures?
Wait a minute, is that Mark Longo? Yes it is, and he joins Brian on this episode of Options Playbook Radio, in which they take on listener questions, which include:
- Inflated implied volatility skewing positions
- How to find stocks that have inflated options premium
As we are in the thick of earnings season, let's take a look at two different trades that one could employ to capitalize on movement around earnings.
This week, Brian discusses:
- A review of skip-strike butterflies, bullish and bearish
- Looking at FB earnings
- What is the market expecting?
- How to set up the trade if you think there will be a lot of volatility? Only a little volatility?
- What is the downside? Upside?
- How about a ratio spread?
- And more
Huddle up, traders. Today's discussion addresses listener questions. They include:
- Nelson from NC: Exploring covered calls on dividend playing stocks.
- Remember rho
- You might not receive as much premium. Why?
- Dr. Ram: How to trade multi-leg option strategies in an IRA account
- You can't use anything that provides leverage
- You also have to avoid unlimited risk
- Remember that you have to be approved within the IRA account
- Depending on many factors, you will be assigned a level of options trading
- Brokers can decide what strategies are available to you
In this episode, we are discussing skip-strike butterflies with calls that we did last earnings season. This was in episode 77. For those of you with the hardcover version of the book, please turn to page 108. If you are following along online, this is always at OptionsPlaybook.com.
Today Brian discusses:
- Setting up a skip-strike butterfly on AMZN around earnings.
- Where is the market right now?
- What do we want to happen in AMZN?
- What is the maximum reward? Risk?
- How to use the proceeds of one leg to buy the other.
- The good news and the bad news.
In this episode, we are discussing. If you have a copy of The Options Playbook, this information is available on page 68. You can always follow along online at OptionsPlaybook.com.
Today, Brian discusses:
- The caveats of long straddles
- Why do long straddles work in this market climate?
- Looking at long straddles for GE, which announces earnings on Friday, October 16, before the open.
- What is the marketplace implying GE could do AFTER earnings?
- Setting up the trade
- What do you want to happen?
Dan Sheridan is back with Brian, and today they are discussing how to set up an iron butterfly on the RUT. You can find this on page 106 of the Options Playbook, or on OptionsPlaybook.com.
They discuss:
- Looking at a two-week iron butterfly in RUT
- Where has RUT been for the last six months?
- Setting things up, and why might width be different?
- What is the risk?
- Why do this in a volatile market?
- How and why is this repeatable?
- What is the plan?
- And more
In this episode, Brian is joined by Dan Sheridan from Sheridan Options Mentoring. They continue the discussion of Iron Butterflies, which began last week. If you have a hardcover version of the book, this is on page 106.
They discuss:
- What is the difference between an iron condor versus an iron butterfly?
- Why are iron butterflies popular?
- Receiving a credit versus paying a debit.
- What about risk?
- Advantages of iron butterflies
- Are iron butterflies better than other strategies?
- What underlyings do people like to do iron butterflies on?
- What about taxes and commissions?
Lately, we have been discussing inverse skip-strike butterflies. Today, we are discussing times when it is a good idea to use inverse skip strike butterflies.
Today, Brian discusses:
- What will the Fed do? (They kept rates steady)
- Setting up an inverse skip strike butterfly on the bearish side of the S&P 500
- What will it cost?
- What do you want to happen?
- What is the risk?
- Don’t forget about margin
- What is the best-case scenario?
- What is the maximum reward?
- And more
Today we are continuing the discussion of Inverse Skip-Strike Butterflies, which began last week. If you are following along at home with the hardcover version of the book, you can find the information you need on page 112 (calls) and page 115 (puts).
Today, Brian discusses:
- A real-world example using NFLX
- You can find the discussion on NFLX here
- Where is the 30-day IV in NFLX?
- Why is the 30-day IV where it is?
- What about the market as a whole?
- Setting up the position
- What do we need to happen in NFLX?
- What is the risk? Reward?
- Considerations and caveats
- And more
In this episode, we are discussing an inverse skip-strike butterfly, which you can find on pages 112 (calls) and 115 (puts) of The Options Playbook. You can also find all of this information on OptionsPlaybook.com.
Today Brian discusses:
- The set-up of an inverse skip-strike butterfly
- What do we want to happen?
- How much will it cost?
- What is the maximum risk?
- What is the maximum gain?
- When does this make sense?
You can review volatility on page 14 of the Options Playbook. You can also find it online at OptionsPlaybook.com in the “basics” section.
Today, Brian discusses:
- A review of looking at stocks near earnings, which creates volatility
- What happens when the entire market is volatile?
- How do you adjust your trading as a result of volatile markets?
- Buying options
- Spreading options
- Butterflies
In this episode, Brian takes on listener questions about:
- Profit and loss calculators
- Remember: slippage, commissions, and other variables
- Calendar spreads
- And more
In this episode, we are going to look at how to insure a long USO position using backspreads with puts. If you have the hardcover version of the book, you can follow along on page 87. If you want to follow along online, you can do so at OptionsPlaybook.com.
In this episode, Brian discusses:
- How the price of oil is reflected in USO
- Where are things priced now?
- How to ensure a USO stock position
- How to tie backspreads to a stock position
- This is AKA a pay-later put
- How to set it up
- What are we hoping will happen?
- Potential gains and losses
- Caveats and considerations
In this episode Brian is discussing the fig leaf strategy for the oil sector. For those of you with the hardcover version of the book, this can be found on page 56. If you are following along online, it is always at OptionsPlaybook.com.
Today Brian discusses:
- A review of the fig leaf strategy
- Setting up an USO fig leaf
- Using options to create a larger position instead of “double up to catch up”
- Constructing the fig leaf
- What will it cost?
- What is the risk?
Today, we are still discussing Christmas Tree Butterflies. For those of you with the hardcover version of the Options Playbook, you can find this on page 118. If you are following along online, it is all at OptionsPlaybook.com.
Today, Brian discusses:
- Why are we talking about Christmas Tree Butterflies around earnings?
- Using a real-world example with FB
- The normal Christmas Tree Butterfly pattern
- Customizing the Christmas Tree Butterfly to minimize risk
- Maximum risk, maximum reward
- What is the forecast on the underlying?
In this episode, we are continuing our coverage of Christmas Tree Butterflies. For those of you with the hardcover version of the book, this is on pages 118 (calls) and 120 (puts). If you are following along online, you can find everything you need on OptionsPlaybook.com.
Today Brian discusses:
- Back to earnings season equals good scenarios for butterflies
- Why?
- Creating a paper trade with Amazon, using puts
- Setting up the trade
- What strikes we are using
- What will this cost?
- Where do you want the stock to go?
- Having realistic expectations
- What is the upside?
- And more
In this episode, we are looking at the Christmas Tree Butterfly. If you are following along with the hard cover version of the book, it is on page 118 (calls) and page 120 (puts). If you are online, this information is always available on OptionsPlaybook.com.
Today Brian discusses:
- What is a Christmas Tree Butterfly?
- Setting it up
- How does a Christmas Tree Butterfly differ from a standard butterfly?
- Where is the sweet spot?
- Why do a Christmas Tree Butterfly instead of a standard butterfly?
- And more...
In this episode, we are reviewing some of the paper trades discussed in the past few Iron Condor episodes. If you are following along with the hardcover book, we are on page 126. You can always find this on OptionsPlaybook.com.
Today, Brian discusses:
- What was going on when we put on a short SPX paper trade last week?
- A review of the set up and the cost
- What do things look like now?
- Are we up? Down? What about time decay? What about the VIX?
- Should we roll?
- Going back two weeks, reviewing the AAPL condor.
- Moving forward with an AAPL roll
- Adjust when you can, do not wait
- What will it cost to roll? How to set it up?
In this episode, we are continuing our coverage of Iron Condors. If you have the hardcover version of the book, this is available on page 126. If you are following along online, you can always find this on OptionsPlaybook.com.
Today Brian discusses:
- A review from the previous episodes, including what happened in AAPL since last time
- What do to now that AAPL has moved close to the bottom strike?
- Setting up a short-term iron condor using an index
- Beware of the holiday and volatility
- Setting it all up
- Things to consider
This week we are continuing our discussion of iron condors. For those of you playing the home game, you can find this information on page 126. If you're following along online, all of this information is always at OptionsPlaybook.com.
Today Brian discusses:
- A review of last time, which discussed indexes
- Looking at an iron condor on AAPL, going out 23 days
- What about earnings? Dividends?
- Quick and dirty formula for probability
- How does the math play out?
- Brian assembles an iron condor on AAPL
- What's the maximum risk? Reward?
- Getting out before expiration
- Caveats
- And more
In this episode, Brian is talking about iron condors. If you have the hardcover version of the Options Playbook, you can find this information on page 126. If you are following along online, all of this information is always available at OptionsPlaybook.com.
Today, Brian discusses:
- How iron condors differ from regular condors
- Looking at iron condors with index options
- Why iron condors work well with index options
- Looking at an example with the S&P 500 Index
In this episode, we are discussing iron condors. For those of you with the hardcover version of the book, you can find this information on page 126. If you want to follow along online, it is all on OptionsPlaybook.com.
Today Brian discusses:
- The set-up of an iron condor
- Why is it called a condor?
- What is an iron condor?
- What is the next risk?
- What is the potential reward?
- When to get out?
- What do you want to happen?
Over the last few weeks, we have been talking about butterflies, and last week, we covered inverse skip strike butterfly. This week, we are hitting that, but with calls. You can find this on page 112 of The Options Playbook, or look for it on OptionsPlaybook.com
Today Brian discusses:
- A review of last time, which was centered on DECK earnings
- Looking at an inverse skip strike butterflies with calls
- What is the outlook?
- What is the expected move?
- What is the risk? Reward?
In this episode, we're discussing the inverse of skip strike butterflies. This can be found on pages 112 and 115 of the hardback version of the book, or you can always go to OptionsPlaybook.com.
Today, Brian discusses:
- When you would want to use an inverse skip strike butterfly
- A live example using Deckers Outdoor
- What might happen to the underlying, and how to structure a position around it?
- What is the risk?
- What is the reward potential?
- And more
Options Playbook Radio 61: The Golden Rule
In this episode, we are taking on more listener questions, including:
- In- versus out-of-the-money golden rules
- The top 10 mistakes made by options traders
- Ways to offset decay
- Getting what you pay for
- Volatility
- Moneyness and time value
Options Playbook Radio 60: Listener Question Palooza
In this episode, Brian and Mark take on listener questions as they attend the Options Industry Conference. They take on topics including:
- Skip strike butterflies around AAPL earnings
- Regular butterflies versus iron butterflies
- Has expiration Friday changed in significance in recent years? What about triple and quadrupole witching?
- The idea of daily expiration options
- When is Rho a factor?
- Why is rolling a position so prominent?
Options Playbook Radio 59: Skip Strike Butterflies, Continued
In this episode, Brian continues his discussion of Skip Strike Butterflies. If you have the hard copy version of The Options Playbook, turn to page 108 for calls, or page 110 for puts.
Today, Brian discusses:
- A review of last episode
- A real-world example using Priceline, which posts earnings on 5/7 before the open
- Let’s look at the ATM straddle for the options expiring on 5/8.
- What has happened previously to Priceline around earnings?
- What to do about that?
- What is the upside?
- What is the downside?
Options Playbook Radio 58: Back to Butterflies
In this episode, we’re discussing skip strike, or modified/broken wing butterflies. If you’re playing the home game, you can find this information on page 108 (skip strike butterflies with calls) or page 110 (skip strike butterflies with puts). Additionally, it’s always available on OptionsPlaybook.com.
Today, Brian discusses:
- Understanding butterflies first
- How a skip strike butterfly is different than a regular butterfly
- Risk trade-offs versus a standard butterfly
- Benefit: doing it for a credit
- Why you want to be directional in your forecast
- And more…
Options Playbook Radio 57: Trading Diagonal Call Spreads around Earnings
In this episode, Brian discusses trading around earnings, specifically using diagonal call spreads. You can find details on this at: tradeking.com/allstars
Brian discusses:
- An example using Gilead
- Sell a call before earnings, buy a call after earnings
- Why is this called a diagonal?
- What is the maximum risk?
- Things to consider
- And more…
Options Playbook 56: Butterflies Around Earnings
It is earnings season, and Brian discusses multiple butterfly strategies you can use around this time of season.
Options Playbook Radio 55: Huddle Up for Listener Questions.
Today, we’re covering listener questions. Brian and Mark discuss:
· Which OTM call strike performs best when the underlying rallies?
· This covers:
· Timing
· Volatility
· Volatility skew
· Alternatives
· And more…
Options Playbook Radio 54: Butterfly Spreads, continued
In this episode we are continuing our coverage of butterfly spreads. For those of you with the hardcover book, you can find this information on pages 103 and 104. You can also follow along on OptionsPlaybook.com.
Today, Brian discusses:
- Two real strategies: a butterfly around IBM earnings, and a SPX
- Let’s look at what is happening with IBM
- IBM going into earnings
- Butterfly using IBM weekly options
- Focusing on the midpoint
- Maximum risk, maximum upside
- Remember not to go for a home run
- What might happen after earnings?
- Why do you want implied volatilities to decrease?
- Doing butterflies on indexes, using puts
- Maximum risk, maximum upside
- Differences between weekly options and standard options to keep in mind
- Adjusting your legs
- Don’t forget that index options are cash-settled, and have 60/40 tax treatment
Options Playbook Radio 53: Butterfly Spreads
Today in Options Playbook Radio, we’re discussing butterfly spreads. For those of you with the hardcover version of the book, this can be found on pages 103 and 104. You can always find it on OptionsPlaybook.com as well.
Today, Brian discusses:
- What do we mean by legs?
- How are butterfly spreads entered as a trade?
- Looking at an example using XYZ calls
- Where do you start?
- What is the net debit?
- What is the max risk?
- What is the max gain?
- What is the break-even?
- Look at this as two spreads
- And more…
Options Playbook Radio 52: Front Spreads, Part Two
In this episode, we’re covering front spreads. For those of you with the hardcover book, that information can be found on page 80 (calls) or page 82 (puts). You can also find everything on OptionsPlaybook.com.
Today, Brian discusses:
- A review from last week, what is a front spread, what about risk, etc.
- Why do this instead of a cash-secured put?
- Let’s look at this using AAPL as an example
- Comparing a covered call and front spread
- What price does the underlying need to hit to get a benefit?
- Ways in which the front spread works better
- The tradeoffs between a covered call and front spread
- When does a front spread make more sense?
- Now again with puts
Options Playbook Radio 51: Front Spreads
In this episode, we’re talking about the front spread. In the book, this is on page 80 (calls) and page 82 (puts). Or, just find it on OptionsPlaybook.com.
In this episode, Brian discusses:
- What is a front spread?
- What about unlimited risk?
- What is the goal of this spread?
- Maximum risk, maximum gain, and breakeven
- How to do a front spread combined with stock
- And more…
Options Playbook Radio 50: Listener Takeover
Today, Brian and Mark huddle up to discuss:
- What is time premium? Why does it exist? Why can’t you trade an option for its intrinsic value?
- Are there any tips to help a new trader process so much options-related information?
Options Playbook Radio 49: Long Calendar Spreads into Earnings
In this episode, we are covering trading around earnings. For those of you with the hardcover book, you can find this on page 94. If you’re following along online, you can find it on OptionsPlaybook.com.
Today, Brian and Mark discuss:
- If you put on a long calendar spread, what do you want to happen to volatility after the trade is put on?
- Good places to review are episodes 36 and 37
- At look at LULU pre-earnings
- Setting up a LULU calendar spread
- What do you want to happen?
- What is a realistic profit outlook?
Options Playbook Radio 48: Theta, Revisited
In this episode, Mark and Brian are back and taking on your questions.
In this episode, they discuss:
- Theta data
- When decay flattens out
- Riding the road of premium decay
- What is the optimal ratio of theta versus gamma?
- And more…
Options Playbook Radio 47: When to Roll Protective Puts
Today, Mark and Brian answer listener questions, including:
- When to roll protective puts?
- What to pay?
- How far out should you look?
- And more…
Options Playbook Radio 46: Paper Trade for ABX Earnings
In this episode, we are covering a specific paper trade strategy around an earnings report. It will be a long calendar spread with calls, which is on page 90. You can also find it on OptionsPlaybook.com. You can also learn about long calendar spreads in Options Playbook Radio episode 37.
Today, Brian discusses:
- The forecast based on the chart
- The chains for selecting the paper trade
- Volatility of ABX
- 52-week history of ABX, and dividend
- Selecting the right options, and don’t forget weekly options
- What to keep in mind when trading around earnings
- Looking at various scenarios
- And more
Options Playbook Radio 45: Combinations, continued.
Continuing from last week, we are still discussing combinations. This information can be found on pages 76 and 78 of the hardcover book, or on OptionsPlaybook.com.
Today, Brian discusses:
- Clarification on combinations using a real example: AAPL
- Long combination, instead of outright stock purchase
- Looking out to January 2016
- Rights and obligations
- How the combination works and its financial impact
- Don’t forget about margin!
- How does it work?
- Who does it work for?
- What about doing this in an IRA Account?
- Let’s do the math
- What about dividends?
- Let’s take a look at GOOG.
- Advantages/disadvantages
Options Playbook Radio 44: Combinations
Welcome back to Options Playbook Radio, where today we’re discussion combinations, or combos. If you have the book, we’re on page 76 (long) or 78 (short). For those of you following along online, you can find it on OptionsPlaybook.com
Today Brian discusses:
- Before we get to combos, let’s first discuss synthetic relationships
- What are synthetic positions?
- Why create them?
- How to create them?
- What do the pros do?
Options Playbook Radio 43: Listener Question Palooza, Continued
The Huddle:
- Question from Anthony Enyo - Thank you for this wonderful program Brian. I am certainly learning a great deal. I have a few questions about dividends and options. I’ve heard there are some telltale signs in the options that reveal that a dividend is approaching. Is this true and if so what are they?
- Question from Joseph G - @Options Gamma? Are them those rays that turned Dr. Bruce Banner into the Hulk? lol...Seriously - can you sum up what I need to be concerned about with gamma when selling weekly put options? Mostly OTM with 4-7 days to expiration.
Options Playbook Radio 42: Listener Questions Edition
The Huddle: Listener questions and comments
- Question from Brian Collamer - Hi Brian! In this show you were describing selling OTM options. You mentioned that when selling options the fastest theta decay occurs in the 45-30 day range. I thought that was only true for ATM options? Do OTM options not decay the fastest at 60-70 days and then kind of flatten out?? Great show, wish it was longer! Thanks, Brian
- Question Mukund Ambarge: Hi! I had question on theta decay. I understand that delta is in constant flux with every tick move in stock, the delta/gamma changes. IV is in constant flux with buying and selling of options and volume etc. So vega changes with option transactions. But theta decay is the only one which is always in a steady pace i.e. it’s not like it will decay quickly today and slowly tomorrow. The question is when is the theta decay really adjusted in the prices of options. Do the theta decay get adjusted at every tick move? Or every hour? If it is adjusted daily. Then when is the theta decay taken out of options. Early morning before start of trading? Or late in the day like last few minutes that whole days theta is taken out? Also I do not know when is weekend theta taken out of prices? Friday early morning or Friday ending or middle of the day? Basically when does market maker run the prices with the model and set the prices? Only once before trading starts or does he keep adjusting every minute/hour/tick based on demand/supply? Thanks, Mukund
Options Playbook Radio 41: Back to Backspreads
In this episode, we cover backspreads. If you’re playing along at home with the hardcover book, this means we’re on pages 84 (calls) and 87 (puts). If you’re following along online, you can find all of this at OptionsPlaybook.com.
Today Brian discusses:
- A review from last time
- Looking at an example with Chevron
- What do we need to happen?
- What is the risk?
- What to look for between backspreads and straddles?
- Why do a backspread?
- And more…
Options Playbook Radio 40: Backspreads
In this episode, we’re covering Backspreads. For those of you with the hardcover version of the Options Playbook, you can find this on page 84 (calls) and page 87 (puts). It’s also online at OptionsPlaybook.com.
Today, Brian discusses:
- What are backspreads?
- An example using calls
- An example using puts
- Other names for a backspread
- Factors that matter, including time
- When to use backspreads
- And more…
Options Playbook Radio 39: Diagonal Spreads, Continued
This week’s edition of Options Playbook Radio is continuing our coverage of diagonal spreads. For those of you with the hardcover version of the book, we’re on page 96 (calls) and page 99 (puts). If you’re following along online, you can find what you need at OptionsPlaybook.com.
Today Brian covers:
- Review from last week
- Tesla example, and why a diagonal spread works for this example
- Paying attention to delta
- What to watch for and when to get out of the trade
Options Playbook Radio 38: Diagonal Spreads
In this week’s edition of Option Playbook Radio, we’re covering diagonal spreads. You can find this on page 96 (call) and page 99 (put) of the hardback version, or at OptionsPlaybook.com.
Today, Brian discusses:
- Calendar/horizontal spreads, and when you would use them
- What is a diagonal spread?
- Why is it called a diagonal spread?
- The history of some of the spread nomenclature
- Possible outcomes of diagonal spreads
- And more…
Options Playbook Radio 37: Long Calendar Spreads, Continued
In this episode of Options Playbook Radio, we’re continuing our discussion of long calendar spreads. For those of you with the hardcover version of the book, this is on page 90 (calls) or page 93 (puts). You can also find it on OptionsPlaybook.com.
Today, Brian discusses:
- A review from last week’s introduction
- Using an example of FB around earnings
- What makes earnings season special for calendar spreads
- Why direction matters
- How earnings impact implied volatility
- Implementing a calendar after a major event
- Using indexes instead of stocks
- And more
Options Playbook Radio 36: Long Calendar Spreads
In this episode, we’re talking about long calendar spreads, from the call side. If you have the Playbook, we’re on page 90. Or, you can find what we’re discussing on OptionsPlaybook.com.
Today, Brian discusses:
- What is a calendar spread?
- Looking at accelerated time decay, and why does it happen?
- At-the-money strikes, and why they are used in calendar spreads
- Front and back month
- How to construct a calendar spread
- Why do a calendar spread?
- Time decay review, and how it impacts the value of your option
- Maximum profit and loss
- Time value review, and what happens when it goes away?
- And more…
Options Playbook Radio 35: Straddles and Strangles, Continued.
Options Playbook Radio is back and today we are on pages 68 and 70. For those of you playing along online, you can find these topics at OptionsPlaybook.com.
Today Brian discusses:
- What does the math say about Facebook earnings
- Looking at the FB straddle
- Why do investors use it?
- How do weekly options impact it?
- Quick and dirty formula on p. 17 of the book
- What are volatility and probability telling us with the math?
- Using a real-life example with FB
- Real world versus what is “supposed” to happen
- And more…
Options Playbook Radio 34: Buying Straddles & Strangles
Welcome back to Options Playbook Radio. For those of you with the book, today we are on pages 48 and 52. You can also find this information on OptionsPlaybook.com.
Today Brian discusses:
- A quick review of long spreads, including risk/reward
- A quick homework assignment: review sessions 4 and 5
- A generic example of a long straddle
- A generic example of a long strangle
- What does the math say 70% of the time?
- And more
Options Playbook 33: Selling Spreads, Continued
For those of you playing the home game, today we are on pages 64 and66 . If you are following along online, you can access everything you need at OptionsPlaybook.com.
Today Brian discusses:
- Overview of last week on timing and probability when selling spreads
- If you need a volatility review, please refer to episode 4
- Real-life example using AAPL
- Impact of timeframes
- Premium relative to probability of success (and what is success?)
- And more...
Options Playbook Radio 32: Selling Spreads
Welcome back to Options Playbook Radio! For those of you with the hardcover book, today we’re on pages 64 (short call spread) and 66 (short put spread). Or, you can find information on our discussion on OptionsPlaybook.com
Today Brian discusses:
- They’re also known as bear call or bear put spreads
- Using out-of-the-money options
- Examples using calls
- What is the maximum profit?
- What is the maximum risk?
- Probability of success
- Don’t forget about commissions
- Timeframe implications
- And more
Options Playbook Radio 31: Buying Spreads, Continued
For those of you with the book, today we’re on page 60. If you want to follow along online, please visit OptionsPlaybook.com. http://www.optionsplaybook.com/,
Today Brian discusses:
- How spread trading differs from single options trading
- Avoiding paying premium to close out a position
- A real world example using Intel
- How do earnings impact options prices?
- Time value and how you pay for it
- And more…
Options Playbook Radio 30: Long Spreads
For those of you with a copy of the Playbook, we’re on page 60. If you are following along on OptionsPlaybook.com, look for the Long Call/Put section.
Today, Brian discusses:
- What does it mean to have a “long” spread?
- Bull call spread, bear put spread.
- Vertical spreads
- What does it all mean?
- Crafting a P/L graph without owning the stock
- Risks and rewards are limited and known
- Common misunderstandings
Options Playbook Radio 29: Collar Strategy
We’re on page 54 of the hardback version of the Playbook, or find it on OptionsPlaybook.com
Today, Brian discusses:
- How collars go hand-in-hand with protective puts
- Timeframes, and their importance
- What is a collar? How does it work? What’s the cost? What’s the upside? How far out in time should you go?
- The impact of interest rates and dividends
- And more
Options Playbook Radio 28: Protective Puts
For those of you with a copy of the Playbook, we are on page 152, If you are looking at the Options Playbook website, just look for "Protective Puts" in the Strategy Tab
Today Brian discusses:
- Using a protective put when selling stock.
- Risk taken on by writing a protective put.
- What is a "married" put
- How known events can affect the cost of writing a protective put.
- Using an index option as protection for a portfolio of stocks.
Options Playbook Radio 27: Index Options
For those of you with a copy of the Playbook, we're on page 145 "So what is an index option anyhow?" If you are looking at the Options Playbook website, just look for "Index Options" in the Options Basics Tab
Today Brian discusses:
- American-style expiration vs. European-style expiration.
- The very first listed index option.
- S&P 500 Index and the DOW 30.
- Capitalization weighted vs. Equal dollar weighted vs. Price weighted.
- AM Settlement vs PM Settlement.
- Broad-based vs. Narrow-based.
Options Playbook Radio 26: Early Exercise & Assignment
For those of you with a copy of the Playbook, we’re on page 140. If you are looking at the Options Playbook website, just look for “What is Early Exercise and Assignment.”
Today Brian discusses:
- A review of rolling option contracts
- Why will you not necessarily be assigned on a contract that is in-the-money?
- American-style options versus European-style options
- Exercise versus assignment
- Why don’t option buyers exercise instantly?
- Don’t forget about time value
- And more…
Options Playbook Radio 25: How We Roll
We’re on page 134 in the book, or look for “How We Roll” in the Options Playbook website.
In this episode, Brian discusses:
- Position management: what does it mean?
- How the covered call rules apply
- A deep dive with an example
- Looking for an option that will cover the cost of rolling
- And more...
Options Playbook Radio 24: The Fig Leaf Strategy
In this episode, we’re on page 56 of the Playbook. Or, look for the fig leaf in the strategies tab online, or look for the plays in the Kindle version.
Today, Brian discusses:
- Where did the name originate?
- What is it? What is it NOT?
- How is it composed?
- Determining goals and finding appropriate options.
- Key considerations and nuances
- Max loss and max gain
- How to avoid assignment, or rolling
- And more
Options Playbook Radio 23: Combining Cash-Secured Put Selling with Covered Call Writing
For those of you with the hardback version of the Playbook, today we’re on pages 48 and 44, respectively.
Brian discusses:
- A review of what makes for a decent covered call underlying
- How to approach a stock that you like
- What is dollar-cost averaging?
- What happens when your stock doesn’t go up?
- The dividend question
- How to carry on with this strategy
- And more…
Options Playbook Radio 22: Cash-Secured Puts
For those of you playing the home game, we’re on page 48. Or, just look for cash-secured puts in the rookies section, or the plays section.
This time, Brian covers:
- What it means to be cash-secured
- What it means to sell a put
- Scenarios with different stock prices
- Considerations and catches
Options Playbook Radio 21: Continuing with the Covered Call
For those of you with the book, we’re on page 50, or on OptionsPlaybook.com, go to the strategies tab, and go to “Covered Calls.”
This time, Brian covers:
- What criteria a stock needs to be a good candidate for a covered call
- If it looks too good to be true, it probably is
- Implied volatility
- Factors effecting premium
- And more…
Options Playbook 20: Covered Call Writing
For those of you with the book, we’re on page 50. Or, you can find it on OptionsPlaybook.com in the “Rookies” tab and look for “Covered Calls Strategies.”
Today Brian discusses:
- What are covered calls? (Sometimes called a buy / write)
- When to run a covered call.
- Strike price and expiration.
- Unwinding a covered call.
- Caveats, including right to dividends.
Options Playbook Radio 19: Listener Q/A, Part Three – Long Puts
In this episode, Mark and Brian continue to take on listener questions.
They discuss long puts:
- When would you use them?
- When can you not use them?
- Choosing money-ness
- What about volatility?
- Forecasting and risk
Options Playbook Radio 18: Listener Q/A Part 2
In this episode, Mark and Brian take on more listener questions, including:
Put/call ratio
- What is it?
- What does it mean?
- What do Brian and Mark think about it?
Call/put ratio in the VIX
- Selling a put instead of buying a stock
- Why does no one talk about this?
- Hidden risk or downside
- Gap risk
Options Playbook Radio 17: Listeners Ask about Open Interest
In this episode, Mark and Brian take on listener questions.
Open interest:
- What is it?
- How is it calculated?
- What’s the difference between open interest and volume?
- How does it affect pricing?
- How important is it?
Options Playbook 16: Buying LEAPS Calls as a Stock Substitute
For those of you with the book, we’re on page 32. Or, you can find it on OptionsPlaybook.com in the “Rookies” tab and look for “Buying LEAPS Calls as a Stock Substitute.”
Today Brian discusses:
- A review of buying calls, in-, at-, and out-of-the-money
- How LEAPS can be an alternative to buying a short-term, out-of-the-money call
- What are LEAPS?
- What impact does delta have on long-term options?
- Using a real IBM option as an example
- Caveats, including dividends and bid/ask spreads
Options Playbook Radio 15: Play #1 - The Long Call
We are on page 40 of the hardcover version. Otherwise, look for “The Long Call Strategy” on the Kindle or online version.
Today Brian discusses:
- How the long call strategy works.
- Basic examples of a long call.
- Time components and implied volatility.
- In the money vs. out of the money vs. at the money contracts
Options Playbook Radio 14: AAPL Stock Split
We are on page 72 of the hardcover version. Otherwise, look for “the Long Strangle” on the Kindle or online version.
Today Brian discusses:
- AAPL is splitting their stock 7-for-1
- What does that mean?
- How does it work?
- Will it become a part of the Dow 30?
- AAPL 30-day implied volatitliy
- Employing the long strangle strategy
- What will happen to option contracts after the split
Options Playbook 13: Finishing the Greeks - Vega and Rho
If you’re playing the home game, we’re on page 22 today.
In this episode, Brian discusses:
- Vega tracks implied volatility
- Rho tracks interest rate changes
- When to expect changes in vega based on the life of the option
- Determining where your concerns should be
- How dividends are tied into Rho
- And more....
Options Playbook Radio 12: More Listener Questions
In this episode, Mark and Brian take on more listener questions.
They discuss:
- What does it mean to be short gamma?
- More about Brian
Options Playbook 11: Listener Questions, Part 1
In this episode Brian and Mark discuss:
- Trading off Greeks rather than price
- The difference between historical, implied, and realized volatility
- And more...
Options Playbook Radio 10: Meet the Greeks: Interrelatedness
For those of you with the book, we're on page 18, or look for "Meet the Greeks."
Today, Brian discusses:
- The interrelatedness of the Greeks
- The long straddle
- Volatility skew
- Looking at Delta first
- Analyzing Gamma
- Considering Theta
- And more…
Options Playbook Radio 9: Getting to Know Theta
We’re looking at page 18 of the book, or check out OptionsPlaybook.com, and look for “Meet the Greeks.”
This week, Brian discusses:
- Theta definition
- Movement of options in time, and how it impacts price
- When does decay accelerate?
- And more…
Options Playbook 8: Meet the Greeks, Part Three: Position Delta
For those of you with the book at home, we’re looking at page 18, or “Meet the Greeks.”
Do you have questions that you want to have answered on the Options Playbook next week, put your questions on Trade King’s Facebook page (https://www.facebook.com/tradeking) or send them to questions@theoptionsinsider.com.
In this episode, Brian discusses:
Gamma review
Position delta definition
Terms that go along with delta
And more…
Options involve risk. Please refer to tradeking.com/ODD to review additional risks involved with trading options.
Options Playbook Radio 7: Meet the Greeks, Part Two: Gamma
We’re covering page 18 in the hardcover version of the book. It’s now available in Kindle, too!
In this episode, Brian covers:
- Delta review
- Gamma introduction: a derivative of delta
- Nuances of gamma
- When is gamma the highest? Lowest?
- And more…
Options involve risk. Please refer to tradeking.com/ODD to review additional risks involved with trading options.
Options Playbook Radio 6: Meet the Greeks Volume 1: Delta
If you have the hardcover version of the book, we’re covering pages 18-20, Meet the Greeks.
Brian discusses:
- Delta: the measurement of the theoretical movement of the price of an option relative to a one-unit move in the price of underling stock.
- The pace that delta moves as stock prices moves
- Probability and delta
- And more
Options involve risk. Please refer to tradeking.com/ODD to review additional risks involved with trading options.
Options Playbook 5: Volatility and Probability, Continued
For those of you playing the home game, we’re on pages 14-17 today. Or, for the online version, check out, “What Is Volatility?”
In this episode, Brian continues the discussion of volatility and probability. In this episode, he covers different timeframes beyond one-year options. How does a one standard deviation move affect prices for short-term options (30, 60, and 90-day options)? There’s a formula for that! Options move at the square root of time.
Options involve risk. Please refer to tradeking.com/ODD to review additional risks involved with trading options.
Options Playbook 4: Volatility & Probability
Follow along at optionsplaybook.com, or go to page 14 of the book.
Brian discusses:
- The definition of implied volatility
- Pricing models and assumptions
- How to determine implied volatility
- Non-directionality of implied volatility
- Impact of time on implied volatility
- Impact of events on the price of an option
Options involve risk. Please refer to tradeking.com/ODD to review additional risks involved with trading options.
Options Playbook 3: Volatility, Part 1
Options prices are based partly on volatility. Brian discusses:
- Implied volatility
- The interconnectedness of probability and volatility
- Factors beyond price that help determine whether to trade an option
Send your questions to questions@theoptionsinsider.com and maybe we will answer them on the air.
Options involve risk. Please refer to tradeking.com/ODD to review additional risks involved with trading options.
In this episode, Options Insider Founder Mark Longo and TradeKing Senior Options Analyst Brian Overby explain how options are similar to home or auto insurance contracts. They also provide an overview of options pricing and define some basic options terms including:
- Premium
- Implied Volatility
In this inaugural episode Options Insider Founder Mark S. Longo is joined by TradeKing's Senior Options Analyst, and the author of the Options Playbook, Brian Overby. Brian and Mark discuss the origins of the Playbook and explain how this book can help you improve your understanding of options. They also tease some of the popular options plays listeners can look forward to in the coming episodes of The Options Playbook.