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Options Playbook Radio


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. 

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Show Archive

Options Playbook Radio 163: Listener Question Palooza, Continued

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...
Posted June 22nd, 2017

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: [email protected].


Options Playbook Radio 162: Listener Question Palooza

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 ?...
Posted June 15th, 2017

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: [email protected].


Options Playbook Radio 161: Fun with a Long-Term AMD Fig Leaf

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,...
Posted June 8th, 2017

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 [email protected].


Options Playbook Radio 160: FCX Debit Put Spread

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...
Posted June 1st, 2017

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

Options Playbook 159: Back Spread with Calls in AMD

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...
Posted May 25th, 2017

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?

Options Playbook Radio 158: Listener Question Palooza, Part Two

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...
Posted May 18th, 2017

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 [email protected].


Options Playbook Radio 158: Huddle Palooza, Part 1

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 [email protected] Question from JLaws: My dad is coming over to the dark side...
Posted May 11th, 2017

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 [email protected].

  • 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?

Options Playbook Radio 157: FB Iron Condor into Earnings

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...
Posted May 4th, 2017

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 [email protected].


Options Playbook Radio 156: AAPL Inverse Skip-Strike Butterfly

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...
Posted April 27th, 2017

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?

Options Playbook Radio 155: AMZN Skip-Strike Butterfly

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...
Posted April 20th, 2017

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?

Options Playbook Radio 154: UAL Butterfly with Calls

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...
Posted April 13th, 2017

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?

Options Playbook Radio 153: SNAP Backspread with Puts

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....
Posted April 6th, 2017

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 [email protected].


Options Playbook Radio 152: SNAP Backspread

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...
Posted March 30th, 2017

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 [email protected].


Options Playbook Radio 151: Buying PFE Calls

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...
Posted March 23rd, 2017

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 [email protected].


Options Playbook Radio 150: AAPL Long Calendar Spread

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...
Posted March 16th, 2017

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 [email protected].


Options Playbook Radio 149: ABT Long Straddle

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...
Posted March 9th, 2017

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 [email protected].


Options Playbook Radio 148: Adjusting a GPS Long Put Spread into a Butterfly

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...
Posted March 2nd, 2017

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 [email protected].


Options Playbook Radio 147: GPS Bull Call Spread

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...
Posted February 23rd, 2017

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?

Options Playbook Radio 146: SJM Long Calendar Spread

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...
Posted February 16th, 2017

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.

Options Playbook Radio 145: TSLA Calendar Spread

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...
Posted February 9th, 2017

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?

Options Playbook Radio 144: Iron Condor into AMZN Earnings

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...
Posted February 2nd, 2017

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 [email protected]


Options Playbook Radio 143: Ford Back Spreads with Puts

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?...
Posted January 26th, 2017

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?

Options Playbook Radio 142: Back Spreads with Puts in the S&P500

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...
Posted January 19th, 2017

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?

Options Playbook Radio 141: How We Roll

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...
Posted January 12th, 2017

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?

Options Playbook Radio 140: Deep Dive into Covered Call Writing

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...
Posted January 5th, 2017

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?

Options Playbook Radio 139: Year-End Listener Question Palooza

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...
Posted December 29th, 2016

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?

Best of Options Playbook Radio

We dug through the archives to bring you the very best of Options Playbook Radio.
Posted December 22nd, 2016

We dug through the archives to bring you the very best of Options Playbook Radio.


Options Playbook Radio 138: Rolling a Butterfly into a Put Spread

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...
Posted December 15th, 2016

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

Options Playbook Radio 137: Long Butterfly Spreads with Puts

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...
Posted December 8th, 2016

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!)

Options Playbook Radio 136: MRO Butterfly Spread with Calls

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...
Posted December 1st, 2016

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?

Options Playbook Radio 135: Thanksgiving Huddle Edition

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...
Posted November 25th, 2016

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

Options Playbook Radio 134: Covered Call Writing in FB

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...
Posted November 17th, 2016

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 [email protected].


Options Playbook Radio 133: SPY Long Put Spread

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...
Posted November 10th, 2016

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 [email protected].


Options Playbook Radio 132: FB Short Call Spread

'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...
Posted November 3rd, 2016

'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 [email protected].


Options Playbook Radio 131: CVX Front Spread with Calls

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...
Posted October 27th, 2016

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 [email protected]


Options Playbook Radio 130: WBA Backspread with Puts

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...
Posted October 20th, 2016

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 [email protected]


Options Playbook Radio 129: Getting into Oil with a Covered Call

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...
Posted October 13th, 2016

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 [email protected]


Options Playbook Radio 128: Huddling Up Around LEAPS and Open Interest

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...
Posted October 6th, 2016

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 [email protected]


Options Playbook Radio 127: Interesting Oil Plays

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...
Posted September 29th, 2016

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.


Options Playbook Radio 126: Strategy Review and Listener Question

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...
Posted September 22nd, 2016

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.


Options Playbook Radio 125: LEN Diagonal Spread

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...
Posted September 15th, 2016

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.


Options Playbook Radio 124: Long S&P 500 Strangle

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...
Posted September 8th, 2016

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.


Options Playbook Radio 123: Adjusting a Long SPX Put Spread

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...
Posted September 1st, 2016

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.


Options Playbook Radio 122: Long Put Spread in SPX

Options Playbook Radio 122: Long Put Spread in SPX
Posted August 25th, 2016

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!

Options Playbook Radio 121: Long Call Straddle in FL

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...
Posted August 18th, 2016

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?

Options Playbook 120: Reviewing PCLN trade

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...
Posted August 11th, 2016

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.


Options Playbook Radio 119: Butterfly into PCLN Earnings

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...
Posted August 4th, 2016

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

Options Playbook Radio 118: Long Butterfly into GOOG Earnings

'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: ...
Posted July 28th, 2016

'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

Options Playbook Radio 117: What Happens When the Trade Goes Wrong

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...
Posted July 21st, 2016

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?

Options Playbook Readio 116: Long Call Spreads with a Twist

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...
Posted July 14th, 2016

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?

Options Playbook Radio 115: Options Huddle Palooza, Part Three

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...
Posted July 7th, 2016

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?

Options Playbook Radio 114: Huddle Palooza

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
Posted June 30th, 2016

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

Options Playbook Radio 113: That Is for the ByRDs

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...
Posted June 23rd, 2016

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?

Options Playbook Radio 112: Huddle Palooza

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...
Posted June 16th, 2016

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?

Options Playbook Radio 111: Continuing the Long Butterfly Spread with Puts

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...
Posted June 9th, 2016

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?

Options Playbook Radio 110: Long Butterflies with Puts

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...
Posted June 2nd, 2016

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

Options Playbook Radio 109: How Many Specialists Are Enough?

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...
Posted May 26th, 2016

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?

Options Playbook Radio 108: OIC Huddle, Part Two

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...
Posted May 19th, 2016

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

Options Playbook Radio 107: Answering Listener Questions from the OIC Conference

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?
Posted May 12th, 2016

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?

Options Playbook Radio 106: Iron Condor around TSLA Earnings

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...
Posted May 5th, 2016

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

Options Playbook Radio 105: AMZN Iron Condor

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...
Posted April 28th, 2016

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?

Options Playbook Radio 104: GOOG Skip-Strike Butterfly

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...
Posted April 21st, 2016

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

Options Playbook Radio 103: Buying an Out-of-the-Money Put in VZ

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...
Posted April 14th, 2016

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?

Options Playbook Radio 102: GPS Short Put Spread

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...
Posted April 7th, 2016

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?

Options Playbook Radio 101: YHOO Skip-Strike Butterfly

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...
Posted March 31st, 2016

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?

Options Playbook Radio 100th Episode Extravaganza, Part 5: AMZN Skip Strike Butterflies

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...
Posted March 24th, 2016

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?

Options Playbook Radio 100th Episode Spectacular, Part 4: Analyzing NFLX Put Backspreads

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...
Posted March 17th, 2016

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

Options Playbook Radio 100th Episode Spectacular, Part 3: Talking VIX and Volatility

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...
Posted March 10th, 2016

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

Options Playbook Radio 100, Part 2: TWTR Iron Condor

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...
Posted March 3rd, 2016

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?

Options Playbook Radio 100th Episode Extravaganza, Part 1

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...
Posted February 25th, 2016

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

Options Playbook Radio 99: XOM Fig Leaf

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...
Posted February 18th, 2016

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...

Options Playbook Radio 98: TWTR Iron Condor

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...
Posted February 11th, 2016

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?

Options Playbook Radio 97: Listener Question Extravaganza

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...
Posted February 4th, 2016

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?

Options Playbook Radio 96: Skip Strike Butterfly with Call Options

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...
Posted January 28th, 2016

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?

Options Playbook Radio 95: AMZN Iron Condor

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...
Posted January 22nd, 2016

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?

Options Playbook Radio 94: Questions and Answers on Options Pricing

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...
Posted January 14th, 2016

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

Options Playbook Radio 93: Backspreads with Puts around Earnings

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...
Posted January 7th, 2016

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?

Options Playbook Radio 92: Adjusting Positions

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...
Posted December 23rd, 2015

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.

Options Playbook Radio 91: Double Diagonals and the Fed

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...
Posted December 17th, 2015

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

Options Playbook Radio 90: Double Diagonals, Revisited

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...
Posted December 10th, 2015

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

Options Playbook Radio 89: Double Diagonals, Continued

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...
Posted December 3rd, 2015

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?

Options Playbook Radio 88: Double Diagonals

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...
Posted November 30th, 2015

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

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...
Posted November 19th, 2015

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?

Options Playbook Radio 86: Answering Listener Questions

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...
Posted November 12th, 2015

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

Options Playbook Radio 85: Two Different Earnings Plays

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...
Posted November 5th, 2015

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

Options Playbook Radio 84: Huddle Up!

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...
Posted October 29th, 2015

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

Options Playbook Radio 83: Reviewing Skip-Strike Butterflies around Earnings

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...
Posted October 22nd, 2015

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.

Options Playbook Radio 82: Long Straddle around Earnings

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...
Posted October 16th, 2015

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?

Options Playbook Radio 81: Iron Butterflies, Continued

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...
Posted October 8th, 2015

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

Options Playbook Radio 80: Iron Butterflies, Continued

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...
Posted October 2nd, 2015

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?

Options Playbook Radio 79: Iron Butteflies

Posted September 24th, 2015

Options Playbook Radio 78: When Should You Use Inverse Skip Strike Butterflies

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...
Posted September 17th, 2015

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

Options Playbook Radio 77: Inverse Skip-Strike Butterflies, Continued

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...
Posted September 10th, 2015

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

Option Playbook Radio 76: Inverse Skip-Strike Butterflies

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...
Posted September 3rd, 2015

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?

Options Playbook Radio 75: Options Strategies for Volatile Markets

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...
Posted August 27th, 2015

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

Options Playbook Radio 74: Question Grab Bag

In this episode, Brian takes on listener questions about: Profit and loss calculators Remember: slippage, commissions, and other variables Calendar spreads And more
Posted August 21st, 2015

In this episode, Brian takes on listener questions about:

  • Profit and loss calculators
  • Remember: slippage, commissions, and other variables
  • Calendar spreads
  • And more

Options Playbook Radio 73: Backspreads around a Long Stock Position

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...
Posted August 13th, 2015

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

Options Playbook Radio 72: Fig Leaf for the Oil Sector

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...
Posted August 6th, 2015

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?

Options Playbook Radio 71: Christmas Tree Butterflies with Calls

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...
Posted July 30th, 2015

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?

Options Playbook Radio 70: Continuing Christmas Tree Butterflies

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...
Posted July 23rd, 2015

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

Options Playbook Radio 69: Christmas Tree Butterfly

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...
Posted July 16th, 2015

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...

Options Playbook Radio 68: Review of the Iron Condor

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...
Posted July 9th, 2015

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?

Options Playbook Radio 67: More Iron Condors

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...
Posted July 2nd, 2015

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

Options Playbook Radio 66: Iron Condors, Continued

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...
Posted June 25th, 2015

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

Options Playbook Radio 65: Iron Condors, Continued

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...
Posted June 18th, 2015

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

Options Playbook Radio 64: Iron Condors

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...
Posted June 11th, 2015

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?

Options Playbook Radio 63: Inverse Skip Strike Butterflies, Continued

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...
Posted June 4th, 2015

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?

Options Playbook Radio 62: Inverse Skip Strike Butterfly

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...
Posted May 28th, 2015

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

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 mistakesmade by options traders Ways to offset decay Getting what you pay...
Posted May 21st, 2015

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 mistakesmade by options traders
  • Ways to offset decay
  • Getting what you pay for
  • Volatility
  • Moneyness and time value


Options Playbook Radio 60: Listener Question Palooza

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...
Posted May 14th, 2015

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

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...
Posted May 7th, 2015

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

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...
Posted April 30th, 2015

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

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...
Posted April 23rd, 2015

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

Options Playbook 56: Butterflies Around Earnings It is earnings season, and Brian discusses multiple butterfly strategies you can use around this time of season.
Posted April 17th, 2015

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

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...
Posted April 9th, 2015

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

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...
Posted April 2nd, 2015

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

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...
Posted March 26th, 2015

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

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...
Posted March 20th, 2015

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

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...
Posted March 13th, 2015

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

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...
Posted March 6th, 2015

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

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...
Posted February 26th, 2015

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

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...
Posted February 19th, 2015

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

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?
Posted February 12th, 2015

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

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...
Posted February 5th, 2015

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.

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...
Posted January 30th, 2015

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

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,...
Posted January 22nd, 2015

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

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...
Posted January 16th, 2015

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 -[email protected] 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

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...
Posted January 8th, 2015

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

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...
Posted December 30th, 2014

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

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...
Posted December 19th, 2014

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

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...
Posted December 4th, 2014

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

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...
Posted November 20th, 2014

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

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)...
Posted November 13th, 2014

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

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...
Posted November 7th, 2014

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 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...
Posted October 31st, 2014

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

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...
Posted October 23rd, 2014

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

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...
Posted October 16th, 2014

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

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...
Posted October 10th, 2014

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

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...
Posted October 3rd, 2014

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

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...
Posted September 25th, 2014

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

Options Playbook Radio 29: Collar Strategy We?re on page 54 of the hardback version of the Playbook, or find it onOptionsPlaybook.com Today, Brian discusses: How collars go hand-in-hand with protective puts Timeframes, and their...
Posted September 18th, 2014

Options Playbook Radio 29: Collar Strategy

We?re on page 54 of the hardback version of the Playbook, or find it onOptionsPlaybook.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

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...
Posted September 11th, 2014

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

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...
Posted September 4th, 2014

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

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...
Posted August 28th, 2014

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

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...
Posted August 21st, 2014

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

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...
Posted August 14th, 2014

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

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...
Posted August 7th, 2014

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

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...
Posted July 31st, 2014

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

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...
Posted July 24th, 2014

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

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...
Posted July 18th, 2014

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

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...
Posted July 10th, 2014

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

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...
Posted July 3rd, 2014

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

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...
Posted June 26th, 2014

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

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...
Posted June 20th, 2014

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

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...
Posted June 12th, 2014

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

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...
Posted June 6th, 2014

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

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...
Posted May 30th, 2014

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

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
Posted May 22nd, 2014

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

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...
Posted May 16th, 2014

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

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...
Posted May 8th, 2014

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

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,...
Posted May 1st, 2014

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

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...
Posted April 24th, 2014

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 [email protected].

In this episode, Brian discusses:
Gamma review

Position delta definition

Terms that go along with delta

And more?

Options involve risk. Please refer totradeking.com/ODDto review additional risks involved with trading options.


Options Playbook Radio 7: Meet the Greeks, Part Two: Gamma

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...
Posted April 17th, 2014

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 totradeking.com/ODDto review additional risks involved with trading options.


Options Playbook Radio 6: Meet the Greeks Volume 1: Delta

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...
Posted April 10th, 2014

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 totradeking.com/ODDto review additional risks involved with trading options.


Options Playbook 5: Volatility and Probability, Continued

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,...
Posted April 3rd, 2014

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 totradeking.com/ODDto review additional risks involved with trading options.


Options Playbook 4: Volatility & Probability

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...
Posted March 20th, 2014

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 totradeking.com/ODDto review additional risks involved with trading options.


Options Playbook 3: Volatility, Part 1

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...
Posted March 13th, 2014

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 [email protected] and maybe we will answer them on the air.

Options involve risk. Please refer totradeking.com/ODDto review additional risks involved with trading options.


Options Playbook Radio 2: Options Basics

Options Basics
Posted March 7th, 2014

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

The Options Playbook Episode 1: What is the Playbook?

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...
Posted February 28th, 2014

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 thepopular options plays listeners can look forward to in the coming episodes of The Options Playbook.


The Options News RundownAudio

Your source for the most important news and information from the world of options.

The Options Insider Radio NetworkAudio

All of our radio programs in one convenient place.

Options Insider RadioAudio

The original options podcast. Features interviews with leading options figures.

The Option BlockAudio

This high-octane program features education, analysis, strategies and unusual activity.

Volatility ViewsAudio

The premier radio program for volatility traders.

The Long And Short Of Futures OptionsAudio

Your source for futures options information.

The Advisor's OptionAudio

Arming advisors with the info necessary to manage risk.

Options Boot CampAudio

Get into peak options trading shape.

Options Insider Special EventsAudio

Compelling panel & special event recordings from the options world.

OIC's Wide World of OptionsAudio

A dynamic mix of current events, investor resources, & strategy insights.

Trading Tech TalkAudio

We break down all the amazing technology that takes your trades from the click of a mouse to the clearinghouse.

Options Playbook RadioAudio

Break down cutting-edge options strategies and learn how to incorporate them into your portfolio

Options OdditiesAudio

We track all the unusual options trading activity on Options Oddities.

This Week in Futures OptionsAudio

The program designed to help active futures options traders stay on top of this ever-changing marketplace. 

The Business ShowAudio

If you like business, if you like humor, if you like stock symbols, this is the podcast for you.
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The Options Insider Radio Network

The Options News Rundown

Your source for the most important news and information from the world of options.

The Options News Rundown

The Options Insider Radio Network

All of our radio programs in one convenient place.

The Options Insider Radio Network

Options Insider Radio

The original options podcast. Features interviews with leading options figures.

Options Insider Radio

The Option Block

This high-octane program features education, analysis, strategies and unusual activity.

The Option Block

Volatility Views

The premier radio program for volatility traders.

Volatility Views

The Long And Short Of Futures Options

Your source for futures options information.

The Long And Short Of Futures Options

The Advisor's Option

Arming advisors with the info necessary to manage risk.

The Advisor's Option

Options Boot Camp

Get into peak options trading shape.

Options Boot Camp

Options Insider Special Events

Compelling panel & special event recordings from the options world.

Options Insider Special Events

OIC's Wide World of Options

A dynamic mix of current events, investor resources, & strategy insights.

OIC's Wide World of Options

Trading Tech Talk

We break down all the amazing technology that takes your trades from the click of a mouse to the clearinghouse.

Trading Tech Talk

Options Playbook Radio

Break down cutting-edge options strategies and learn how to incorporate them into your portfolio

Options Playbook Radio

Options Oddities

We track all the unusual options trading activity on Options Oddities.

Options Oddities

This Week in Futures Options

The program designed to help active futures options traders stay on top of this ever-changing marketplace. 

This Week in Futures Options

The Business Show

If you like business, if you like humor, if you like stock symbols, this is the podcast for you.

The Business Show

Options Playbook Radio 155: AMZN Skip-Strike Butterfly

Earnings season makes an AMZN skip-strike butterfly an interesting prospect.

Options Playbook Radio 155: AMZN Skip-Strike Butterfly