ON THIS EPISODE, MARK AND DAN DISCUSS:  JULY PRO MEMBER CRATE WINNER ANNOUNCEMENT IS THE MEME STOCK FRENZY BACK WOULD YOU RATHER BUY RIVN, NKLA, OR KDP YOUR WEAPON OF CHOICE FOR CRYPTO OPTIONS EXPOSURE IS IT WORTH IT TO TRY TO CAPTURE THE BITO DIVIDEND HOW TO DECIDE WHETHER TO SELL A PUT VS BUY A RATIO PUT SPREAD AND MUCH MORE 

ON THIS EPISODE, MARK AND DAN DISCUSS: <ul> <li>JULY PRO MEMBER CRATE WINNER ANNOUNCEMENT</li> <li>IS THE MEME STOCK FRENZY BACK</li> <li>WOULD YOU RATHER BUY RIVN, NKLA, OR KDP</li> <li>YOUR WEAPON OF CHOICE FOR CRYPTO OPTIONS EXPOSURE</li> <li>IS IT WORTH IT TO TRY TO CAPTURE THE BITO DIVIDEND</li> <li>HOW TO DECIDE WHETHER TO SELL A PUT VS BUY A RATIO PUT SPREAD</li> <li>AND MUCH MORE</li> </ul>

Options Boot Camp 249: MEME Stock Redux, Capturing Unreliable Dividends and More

On this episode Mark and Dan discuss strike selection for spreads and much more.

On this episode Mark and Dan discuss strike selection for spreads and much more.

Options Boot Camp 248: The Mysteries of Spread Strike Selection

On this episode Mark and Dan discuss outright strike selection.  How do you choose your strike? Does your approach change if long vs. short premium? And much more... 

On this episode Mark and Dan discuss outright strike selection. <ul> <li>How do you choose your strike?</li> <li>Does your approach change if long vs. short premium?</li> <li>And much more...</li> </ul>

Options Boot Camp 247: Strike Selection Voodoo and Surprise Crypto Dividends

ON THIS EPISODE, MARK AND DAN DISCUSS:  ARE THERE ANY DRAW BACKS TO CASH-SECURED PUTS USING STOCK SUBSTITUTION OVER THE LONG TERM TYPICAL USE CASE FOR KNOCKOUT COLLARS ANY TIME YOU WANT TO TRADE A CALENDAR SPREAD WHEN YOU DON'T THINK THE UNDERLYING IS GOING TO SIT STILL WHETHER VOLATILITY DOWN ACROSS ALL ASSET CLASSES AND MUCH MORE 

ON THIS EPISODE, MARK AND DAN DISCUSS: <ul> <li>ARE THERE ANY DRAW BACKS TO CASH-SECURED PUTS</li> <li>USING STOCK SUBSTITUTION OVER THE LONG TERM</li> <li>TYPICAL USE CASE FOR KNOCKOUT COLLARS</li> <li>ANY TIME YOU WANT TO TRADE A CALENDAR SPREAD WHEN YOU DON'T THINK THE UNDERLYING IS GOING TO SIT STILL</li> <li>WHETHER VOLATILITY DOWN ACROSS ALL ASSET CLASSES</li> <li>AND MUCH MORE</li> </ul>

Options Boot Camp 246: Vanishing Volatility

On this episode, Mark and Dan discuss good options strategies for busy traders who can't be at their screens all day (aka set-it-and-forget-it options trades).  time frame particular products to use or avoid and much more... 

On this episode, Mark and Dan discuss good options strategies for busy traders who can't be at their screens all day (aka set-it-and-forget-it options trades). <ul> <li>time frame</li> <li>particular products to use or avoid</li> <li>and much more...</li> </ul>

Options Boot Camp 245: Set-It-And-Forget-It Options Strategies for Busy Traders

ON THIS EPISODE, MARK AND DAN DISCUSS:  FAVORITE FOOD TO EAT ON FOURTH OF JULY DO YOU PUT KETCHUP ON YOUR HOT DOG ANOTHER CRAZY OPTIONS VOLUME MONTH FOR JUNE HOW THE HOLIDAY WEEK IMPACTED TRADING ESPECIALLY NOW THAT PEOPLE ARE TRADING 0 DTE USING A STOCK'S MOMENTUM TO LEG INTO IRON CONDORS WHEN BUYING ATM STRADDLES IS IT WORTH SELLING PUTS RIGHT NOW WITH VIX SO LOW AND MUCH MORE 

ON THIS EPISODE, MARK AND DAN DISCUSS: <ul> <li>FAVORITE FOOD TO EAT ON FOURTH OF JULY</li> <li>DO YOU PUT KETCHUP ON YOUR HOT DOG</li> <li>ANOTHER CRAZY OPTIONS VOLUME MONTH FOR JUNE</li> <li>HOW THE HOLIDAY WEEK IMPACTED TRADING ESPECIALLY NOW THAT PEOPLE ARE TRADING 0 DTE</li> <li>USING A STOCK'S MOMENTUM TO LEG INTO IRON CONDORS WHEN BUYING ATM STRADDLES</li> <li>IS IT WORTH SELLING PUTS RIGHT NOW WITH VIX SO LOW</li> <li>AND MUCH MORE</li> </ul>

Options Boot Camp 244: Free Straddles and the Great Hot Dog Debate

On this episode - Mark and Dan answer the questions:  Have they ever made a stupid options trade that ended up working out? Are they "front mothers" in their options trading? What would it take to lure them to the dark side of 0 DTE trading? and much more... 

On this episode - Mark and Dan answer the questions: <ul> <li>Have they ever made a stupid options trade that ended up working out?</li> <li>Are they "front mothers" in their options trading?</li> <li>What would it take to lure them to the dark side of 0 DTE trading?</li> <li>and much more...</li> </ul>

OBC 243: Kicking It With the Front Mothers

On this episode - Mark and Dan answer the questions:  WTH are binary options? How do they work? Where can you trade them? Are they really as shady as people think? and much more... 

On this episode - Mark and Dan answer the questions: <ul> <li>WTH are binary options?</li> <li>How do they work?</li> <li>Where can you trade them?</li> <li>Are they really as shady as people think?</li> <li>and much more...</li> </ul>

OBC 242: WTH Are Binary Options?

On this episode, Mark and Dan explore how to use options to ride the AI wave that is carrying the stock market to new heights. 

On this episode, Mark and Dan explore how to use options to ride the AI wave that is carrying the stock market to new heights.

OBC 241: Riding the AI Wave Using Options

On this episode, Mark and Dan tackle the question:  Is it even worth it to sell covered calls anymore? They also explore your thoughts on 0 DTE trading and much more... 

On this episode, Mark and Dan tackle the question: <ul> <li>Is it even worth it to sell covered calls anymore?</li> <li>They also explore your thoughts on 0 DTE trading and much more...</li> </ul>

Options Boot Camp 240: Is It Even Worth It Selling Covered Calls Anymore?

Options Boot Camp is designed to help get you into peak options trading shape by teaching you options trading inside and out, basic to complex. Listeners can even submit their own options questions to be answered on the show.

Great options show with varying opinions on strategies. Easy listens

IRRguy

Great show. Very educational and easy to understand. Keep up the good work!

Very Educational

Options Boot Camp

MAIL CALL Question from Joe and Linda -  I have  been knee deep with you guys for the last 14 months and can’t Thank You enough for the wealth of information you provide. One of my favorite quotes: “ Your generosity is only exceeded by my gratitude.” I have a long commute to work in the morning and have managed to listen to all 240+ of the Options Playbook, all of the Bootcamp, 90% of the OIC stuff as well as in and out of the Options Advisor and Futures show. Also haven’t missed Options Block for the last few months.  I purchased Dan’s Trading Options Greeks book and was wondering if he had an audio version. Could easily listen to it on my morning commute. You so much for all your help, looking forward to the future with you guys. Going to be successful enough to be able to travel thank you guys in person! Thanks Again! Question from Rayman5839 - Hi! Is the option premium counted toward exercising an option when in the money?. New to options, thanks...So it would only be profitable if the intrinsic value heavily outweighs extrinsic? Question from Thomas Weber - If I am short a deep in the money call in SPY (delta near 1), what are the odds I will be assigned before Friday expiration? Question from Alto - Which do you think has a better chance of happening - no more earnings calls or after hours options trading? And which do you think would be more impactful for options traders? Do you have a preference? Question from 6654P - Why are options on CBOE and CME GROUP viewed differently? Question from Paul Vasquez - When is the “official” close as far as options expiration is concerned?  I’ve had calls assigned and had stocks put to me when the strike was out of the money at market close but it moved in and out during after hours trading. Any light you can shed on how expirations work would be appreciated. Thanks Paul, Sacramento, CA Question from LL6 - Why did mini options fail? Are they done for good? Question from Neels - Why is the logo for this show blue? Question from RadH0k - Is spread delta just diff of the deltas on the two options? Question from JackTam - Is there another exchange educator out there other than Cboe institute?

MAIL CALL Question from Joe and Linda -  I have  been knee deep with you guys for the last 14 months and can’t Thank You enough for the wealth of information you provide. One of my favorite quotes: “ Your generosity is only exceeded by my gratitude.” I have a long commute to work in the morning and have managed to listen to all 240+ of the Options Playbook, all of the Bootcamp, 90% of the OIC stuff as well as in and out of the Options Advisor and Futures show. Also haven’t missed Options Block for the last few months.  I purchased Dan’s Trading Options Greeks book and was wondering if he had an audio version. Could easily listen to it on my morning commute. You so much for all your help, looking forward to the future with you guys. Going to be successful enough to be able to travel thank you guys in person! Thanks Again! Question from Rayman5839 - Hi! Is the option premium counted toward exercising an option when in the money?. New to options, thanks...So it would only be profitable if the intrinsic value heavily outweighs extrinsic? Question from Thomas Weber - If I am short a deep in the money call in SPY (delta near 1), what are the odds I will be assigned before Friday expiration? Question from Alto - Which do you think has a better chance of happening - no more earnings calls or after hours options trading? And which do you think would be more impactful for options traders? Do you have a preference? Question from 6654P - Why are options on CBOE and CME GROUP viewed differently? Question from Paul Vasquez - When is the “official” close as far as options expiration is concerned?  I’ve had calls assigned and had stocks put to me when the strike was out of the money at market close but it moved in and out during after hours trading. Any light you can shed on how expirations work would be appreciated. Thanks Paul, Sacramento, CA Question from LL6 - Why did mini options fail? Are they done for good? Question from Neels - Why is the logo for this show blue? Question from RadH0k - Is spread delta just diff of the deltas on the two options? Question from JackTam - Is there another exchange educator out there other than Cboe institute?

Options Bootcamp 76: Assignment Risk, Spread Deltas, Minis and More

Basic Training: The Return of Volatility!  VIX is not dead. VIX jumped from 13.99 on 2/2 to 38.30 on 2/5, and 46.34 on 2/6. What are you thought on the recent resurgence of volatility in the marketplace? Do you think this is a temporary aberration or have we transitioned into a new volatility regime? What is the impact of higher volatility on options strategies? What is the impact of this change for options traders?  Mail Call: Options Flashpoll The proposed third exchange from MIAX will raise the total number of U.S. Options Exchanges to 16. Is this a good thing for the options market? Is it the straw that finally breaks the camel's back? Or are you too busy getting great fills to care?  44% - More Exchanges the Better 22% - Please Make It Stop 34% - Don't Care: I get filled  Listener questions and comments:  Question from Allan Tullman - There was a lot of research last year regarding selling put options to harvest risk premium. Now that volatility is back is this an ideal time to harvest premium via put selling or does the increased volatility increase the probability of getting whipsawed? Question from Scott Somer - For Jill Malandrino: When CBOE does their floor reports there is an open outcry din from the SPX, VIX areas. Are there areas on the Nasdaq PHLX floor that also have that type of din, and if so, what names are getting this din? 

Basic Training: The Return of Volatility! <ul> <li>VIX is not dead.</li> <li>VIX jumped from 13.99 on 2/2 to 38.30 on 2/5, and 46.34 on 2/6.</li> <li>What are you thought on the recent resurgence of volatility in the marketplace?</li> <li>Do you think this is a temporary aberration or have we transitioned into a new volatility regime?</li> <li>What is the impact of higher volatility on options strategies? What is the impact of this change for options traders?</li> </ul> Mail Call: Options Flashpoll The proposed third exchange from MIAX will raise the total number of U.S. Options Exchanges to 16. Is this a good thing for the options market? Is it the straw that finally breaks the camel's back? Or are you too busy getting great fills to care? <ul> <li>44% - More Exchanges the Better</li> <li>22% - Please Make It Stop</li> <li>34% - Don't Care: I get filled</li> </ul> Listener questions and comments: <ul> <li>Question from Allan Tullman - There was a lot of research last year regarding selling put options to harvest risk premium. Now that volatility is back is this an ideal time to harvest premium via put selling or does the increased volatility increase the probability of getting whipsawed?</li> <li>Question from Scott Somer - For Jill Malandrino: When CBOE does their floor reports there is an open outcry din from the SPX, VIX areas. Are there areas on the Nasdaq PHLX floor that also have that type of din, and if so, what names are getting this din?</li> </ul>

Options Bootcamp 74: Trading Options in a High Volatility Environment

Options 101: Our topic today was inspired by a listener question.  Question from Mark Davis: Hello, I am a new listener to options bootcamp and am currently on Ep. 4. There was a mention of using covered calls to generate a "dividend." I am having trouble tracking down more information on this. Being still new to all of this I am hoping to get a clearer picture of how it works. How far out on expiration should I look and how do I figure the strike price? Thanks!  Mail Call: Even more listener questions and comments  Question from Robert Kornacki: I would like to use strategy regarding naked puts. If the naked put is far out of money what strategy could I use to protect myself. Could I use some type of order in case it was getting close to naked put strike price. Thanks Question from Dmitry Shesterin: What happens to LEAPs for tickers that get delisted before expiration? Question from Fred: I read Natenberg options volatility and pricing twice now and I have also set up paper trading accounts. But I am stuck going forward in my options progression. I do not want to trade using the greeks formula. But I want to spec on crude futures intraday using options. What should I do? Should I make more SIM trades until I figure it out? Or am I just too ignorant to trade options? Question from Jack Rieger: Do you have any specific strategies near or on expiration to profit from theta decay? Question from Bobby: How long did it take you to become comfortable trading credit spreads? Also what is my max loss when trading a credit spread? Question from from Tor: Hello. I am (restarting) my options trading on a shoestring; any thoughts on mini-options? Thanks. Question from Fred (#2): Is it my imagination or do options traders trade more markets than futures traders do? Is that a good practice? Is it good to look for multiple markets when trading options? Should I expand my horizons? 

Options 101: Our topic today was inspired by a listener question. <ul> <li>Question from Mark Davis: Hello, I am a new listener to options bootcamp and am currently on Ep. 4. There was a mention of using covered calls to generate a "dividend." I am having trouble tracking down more information on this. Being still new to all of this I am hoping to get a clearer picture of how it works. How far out on expiration should I look and how do I figure the strike price? Thanks!</li> </ul> Mail Call: Even more listener questions and comments <ul> <li>Question from Robert Kornacki: I would like to use strategy regarding naked puts. If the naked put is far out of money what strategy could I use to protect myself. Could I use some type of order in case it was getting close to naked put strike price. Thanks</li> <li>Question from Dmitry Shesterin: What happens to LEAPs for tickers that get delisted before expiration?</li> <li>Question from Fred: I read Natenberg options volatility and pricing twice now and I have also set up paper trading accounts. But I am stuck going forward in my options progression. I do not want to trade using the greeks formula. But I want to spec on crude futures intraday using options. What should I do? Should I make more SIM trades until I figure it out? Or am I just too ignorant to trade options?</li> <li>Question from Jack Rieger: Do you have any specific strategies near or on expiration to profit from theta decay?</li> <li>Question from Bobby: How long did it take you to become comfortable trading credit spreads? Also what is my max loss when trading a credit spread?</li> <li>Question from from Tor: Hello. I am (restarting) my options trading on a shoestring; any thoughts on mini-options? Thanks.</li> <li>Question from Fred (#2): Is it my imagination or do options traders trade more markets than futures traders do? Is that a good practice? Is it good to look for multiple markets when trading options? Should I expand my horizons?</li> </ul>

Options Bootcamp 63: The Proper Way to Trade Covered Calls

Basic Training: Short Puts Revisited  Want a complete overview of selling puts? Check out Options Boot Camp episode 4 from May 7, 2012. New study: "An Analysis of Index Option Writing with Monthly and Weekly Rollover," written by Oleg Bondarenko, professor of finance at the University of Illinois at Chicago, and sponsored by CBOE. It is.the first comprehensive study to examine strategy benchmark with traditional stock, bond indexes incorporating weeklys options. CBOE Russell study "Analyzing Russell 2000 Index Options-Based Benchmark Indexes Designed to Provide Enhanced Yields and Risk-Adjusted Returns." CBOE announced the release of a new study that examines six benchmark indexes that invest in Russell 2000 Index (RUT) options and compares their performances with those of traditional benchmark stock and bond indexes. This is the first comprehensive study that examines the performance of multiple options-strategy benchmark indexes that incorporate Russell 2000 Index options. Written by Mark Shore, an adjunct professor at DePaul University's Kellstadt Graduate School of Business, and sponsored by CBOE.  Mail Call: Listener questions and comments  Question from QKT - If i sold a $1 strike put with a current trading price of $.50 and then the stock goes to $5-what happens and what is my risk? How do I look at expiration? Can my puts be exercised against me? Question from Nick S. -I am thinking of a cool new strategy that I haven't seen listed online before. It effectively involves buying an iron butterfly (one of Marks favorite strategies) and then selling an extra put on the downside leg. You would select your strike at a price where you are comfortable buying the stock should it drop. This has the obvious benefit of reducing your initial outlay for the position. However, unlike a naked short, put you have the added cushion of the long straddle to help protect you on the downside and lower your effective break-even on the downside. Question from AJ M. - I have a question for the drill instructors. I hope you guys can calm my frayed nerves over this DOL thing. What exactly is going on? Am I not going to be able to sell calls in my IRA anymore? Since the vast majority of my assets are in retirement accounts this would be a HUGE hit to my savings. Please tell me this is not the case. Is there anything I as a retail stock and options trader can do to help prevent this? What if I open an international trading account? Would that do the trick? Help - I need the drill instructors to talk me off the ledge. 

Basic Training: Short Puts Revisited <ul> <li>Want a complete overview of selling puts? Check out <a href="http://traffic.libsyn.com/optionsbootcamp/Options__Boot_Camp4_SellingOptions.mp3" rel="nofollow" target="_blank">Options Boot Camp episode 4 from May 7, 2012.</a></li> <li>New study: "An Analysis of Index Option Writing with Monthly and Weekly Rollover," written by Oleg Bondarenko, professor of finance at the University of Illinois at Chicago, and sponsored by CBOE. It is.the first comprehensive study to examine strategy benchmark with traditional stock, bond indexes incorporating weeklys options.</li> <li>CBOE Russell study "Analyzing Russell 2000 Index Options-Based Benchmark Indexes Designed to Provide Enhanced Yields and Risk-Adjusted Returns." CBOE announced the release of a new study that examines six benchmark indexes that invest in Russell 2000 Index (RUT) options and compares their performances with those of traditional benchmark stock and bond indexes. This is the first comprehensive study that examines the performance of multiple options-strategy benchmark indexes that incorporate Russell 2000 Index options. Written by Mark Shore, an adjunct professor at DePaul University's Kellstadt Graduate School of Business, and sponsored by CBOE.</li> </ul> Mail Call: Listener questions and comments <ul> <li>Question from QKT - If i sold a $1 strike put with a current trading price of $.50 and then the stock goes to $5-what happens and what is my risk? How do I look at expiration? Can my puts be exercised against me?</li> <li>Question from Nick S. -I am thinking of a cool new strategy that I haven't seen listed online before. It effectively involves buying an iron butterfly (one of Marks favorite strategies) and then selling an extra put on the downside leg. You would select your strike at a price where you are comfortable buying the stock should it drop. This has the obvious benefit of reducing your initial outlay for the position. However, unlike a naked short, put you have the added cushion of the long straddle to help protect you on the downside and lower your effective break-even on the downside.</li> <li>Question from AJ M. - I have a question for the drill instructors. I hope you guys can calm my frayed nerves over this DOL thing. What exactly is going on? Am I not going to be able to sell calls in my IRA anymore? Since the vast majority of my assets are in retirement accounts this would be a HUGE hit to my savings. Please tell me this is not the case. Is there anything I as a retail stock and options trader can do to help prevent this? What if I open an international trading account? Would that do the trick? Help - I need the drill instructors to talk me off the ledge.</li> </ul>

Options Bootcamp 62: Selling Puts Revisited

In this episode, Mark, Dan Passarelli and Jill Malandrino take on listener questions. Options Drills: Today's topic was inspired by this listener question: Question from MarkLitwin: How do you lose money in options in the most effective way?  Don't by ATM straddles Don't load up on far OTM options because they're cheap Don't trade earnings Be careful with trading weeklies Watch out when selling options going into weekends or holidays  Mail Call: Listeners take over  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 Darqane: Assigned on short SPX puts means getting long the underlying? But how does that work if it's cash settled? Question from Lesnod: How do you get out of the straddles? One side of a straddle is always a loss correct? Question from Bobster: Can you trade options outside of U.S. trading hours? Question from ejh4isu: Let's say you're short naked a bunch of puts and the trade goes against you, and you don't have the money to pony up? What can your broker do? Question from BULZEYE7: Are options worth it for day-traders? Or just for swing-traders? 

In this episode, Mark, Dan Passarelli and Jill Malandrino take on listener questions. Options Drills: Today's topic was inspired by this listener question: Question from MarkLitwin: How do you lose money in options in the most effective way? <ul> <li>Don't by ATM straddles</li> <li>Don't load up on far OTM options because they're cheap</li> <li>Don't trade earnings</li> <li>Be careful with trading weeklies</li> <li>Watch out when selling options going into weekends or holidays</li> </ul> Mail Call: Listeners take over <ul> <li>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.</li> <li>Question from Darqane: Assigned on short SPX puts means getting long the underlying? But how does that work if it's cash settled?</li> <li>Question from Lesnod: How do you get out of the straddles? One side of a straddle is always a loss correct?</li> <li>Question from Bobster: Can you trade options outside of U.S. trading hours?</li> <li>Question from ejh4isu: Let's say you're short naked a bunch of puts and the trade goes against you, and you don't have the money to pony up? What can your broker do?</li> <li>Question from BULZEYE7: Are options worth it for day-traders? Or just for swing-traders?</li> </ul>

Options Bootcamp 70: Mistakes to Avoid When Trading Options

Options Boot Camp 81: Pandemic Special  You asked for it -you got it! Mark and Dan put the drill instructor hats back on for a special pandemic-themed episode.  Options Drills Segment They start by breaking down their preferred options trades for this volatile environment.  Mail Call Mark and Dan wade into the mail bag to answer your questions about theta decay,  levered ETPs vs. options, the Schwab/TD merger and much more. 

Options Boot Camp 81: Pandemic Special  You asked for it -you got it! Mark and Dan put the drill instructor hats back on for a special pandemic-themed episode.  Options Drills Segment They start by breaking down their preferred options trades for this volatile environment.  Mail Call Mark and Dan wade into the mail bag to answer your questions about theta decay,  levered ETPs vs. options, the Schwab/TD merger and much more.

OBC 81: Pandemic Special

Basic Training: Theta. A review of Theta and its impact on income trading. New Study: An analysis of index option writing with monthly and weekly rollover - First comprehensive study to examine strategy benchmark with traditional stock, bond indexes incorporating weeklys options. Mail Call: Listener questions and comments.  Question from KDDiddy - I want to protect a stock position with puts at a strike 2% below market but there is not a strike there. I thought of dividing my purchase between two different strikes to get an average of 2% but I do not want all the guys to call me stupid. Mom always said I was a genius but it is hard to feel like one when buying something called a Put Stupid. What should I do instead? Regards, Mr. Smart Question from LATom - Can the drill squad explain covered strangles vs. covered calls? What is the difference?

Basic Training: Theta. A review of Theta and its impact on income trading. New Study: An analysis of index option writing with monthly and weekly rollover - First comprehensive study to examine strategy benchmark with traditional stock, bond indexes incorporating weeklys options. Mail Call: Listener questions and comments. <ul> <li>Question from KDDiddy - I want to protect a stock position with puts at a strike 2% below market but there is not a strike there. I thought of dividing my purchase between two different strikes to get an average of 2% but I do not want all the guys to call me stupid. Mom always said I was a genius but it is hard to feel like one when buying something called a Put Stupid. What should I do instead? Regards, Mr. Smart</li> <li>Question from LATom - Can the drill squad explain covered strangles vs. covered calls? What is the difference?</li></ul>

Options Bootcamp 60: Adding Weeklys to Your Income Strategy

Basic Training: The topic of the show today comes to us courtesy of a listener question. Question from Dr. Toboggan: Love the podcasts. Would like to see an episode (maybe options bootcamp) that covers trade adjustments. This was been the most difficult aspect of learning to trade options for me, and would be useful now that you've covered most of the basics on this program. Specifically, would like to hear a discussion on how to adjust trades when the stock moves against you (i.e. price hits the short strike in a condor/credit spread, or the wings of a butterfly). Thanks  Adjustments are where the rubber meets the road from an options perspective. What are adjustments? Why have an adjustment strategy? When do you make the adjustment?  Basic Adjustments:  Close positions and close portions the of trade. Adjusting into spreads. Good rolls vs bad rolls. Long premium vs short premium. 

Basic Training: The topic of the show today comes to us courtesy of a listener question. Question from Dr. Toboggan: Love the podcasts. Would like to see an episode (maybe options bootcamp) that covers trade adjustments. This was been the most difficult aspect of learning to trade options for me, and would be useful now that you've covered most of the basics on this program. Specifically, would like to hear a discussion on how to adjust trades when the stock moves against you (i.e. price hits the short strike in a condor/credit spread, or the wings of a butterfly). Thanks <ul> <li>Adjustments are where the rubber meets the road from an options perspective.</li> <li>What are adjustments?</li> <li>Why have an adjustment strategy?</li> <li>When do you make the adjustment?</li> </ul> Basic Adjustments: <ul> <li>Close positions and close portions the of trade.</li> <li>Adjusting into spreads.</li> <li>Good rolls vs bad rolls.</li> <li>Long premium vs short premium.</li> </ul>

Options Bootcamp 40: Trade Adjustments

Options Boot Camp 80: Holiday Options Mythbusting   HOST: Mark Longo, The Options Insider Media Group CO-HOST: Dan Passarelli, Market Taker Mentoring        On this episode of Options Boot Camp, Mark and Dan discuss:  Should you write ITM covered calls? Covered calls versus naked short puts? Busting the most common options myth. And much more... 

Options Boot Camp 80: Holiday Options Mythbusting   HOST: Mark Longo, The Options Insider Media Group CO-HOST: Dan Passarelli, Market Taker Mentoring   On this episode of Options Boot Camp, Mark and Dan discuss: <ul> <li>Should you write ITM covered calls?</li> <li>Covered calls versus naked short puts?</li> <li>Busting the most common options myth.</li> <li>And much more...</li> </ul>

Options Boot Camp 80: Holiday Options Mythbusting

Options 101: Income Trade Adjustments  An overview of income trades: Covered call, short put, short straddle, etc. What do we mean by adjustments? When to or not to adjust? Previous episodes that will be helpful: Options Bootcamp 41: Advanced Adjustments &amp; Options Bootcamp 40: Trade Adjustments. Basic adjustments, partial adjustments and adjusting into spreads.  Mail Call: Listener questions and comments  Comment from Dmitry Shesterin - @Options There is no V in the Greek alphabet, so how come Vega is considered a "Greek"? Who started this madness? Question from Brian Collamer - Do OTM options decay the fastest at 60-70 days and then kind of flatten out?? Great show, wish it was longer! Thanks, Brian Question from Charles Patterson - Is it accurate to describe delta as the probability of an option expiring in the money? Question from Rohan - Do you think it is viable for an active retail trader to become a professional retail trader using primarily the freely available tools from OX and other retail brokers? How viable is that in the current environment? Would I always be at a disadvantage from the pros picking me off? Is this just a pipe dream? How much would you say the average pro trader needs to make to be viable? Thanks again for all of the great programs you guys have put out for free. Question from AVG - I heard Dan Passarelli talking about Goldman telling people it's not worth it to sell S&amp;P puts anymore. Do you guys agree with that sentiment? 

Options 101: Income Trade Adjustments <ul> <li>An overview of income trades: Covered call, short put, short straddle, etc.</li> <li>What do we mean by adjustments? When to or not to adjust?</li> <li>Previous episodes that will be helpful: Options Bootcamp 41: Advanced Adjustments &amp; Options Bootcamp 40: Trade Adjustments.</li> <li>Basic adjustments, partial adjustments and adjusting into spreads.</li> </ul> Mail Call: Listener questions and comments <ul> <li>Comment from Dmitry Shesterin - @Options There is no V in the Greek alphabet, so how come Vega is considered a "Greek"? Who started this madness?</li> <li>Question from Brian Collamer - Do OTM options decay the fastest at 60-70 days and then kind of flatten out?? Great show, wish it was longer! Thanks, Brian</li> <li>Question from Charles Patterson - Is it accurate to describe delta as the probability of an option expiring in the money?</li> <li>Question from Rohan - Do you think it is viable for an active retail trader to become a professional retail trader using primarily the freely available tools from OX and other retail brokers? How viable is that in the current environment? Would I always be at a disadvantage from the pros picking me off? Is this just a pipe dream? How much would you say the average pro trader needs to make to be viable? Thanks again for all of the great programs you guys have put out for free.</li> <li>Question from AVG - I heard Dan Passarelli talking about Goldman telling people it's not worth it to sell S&amp;P puts anymore. Do you guys agree with that sentiment?</li> </ul>

Options Bootcamp 53: Income Trade Adjustments

 Options Drills: Options as an investment tool.  Stock replacement strategy, Covered calls, Short puts, Collars, Covered strangles, Covered straddles and LEAPs  Mail Call:  Question from Charles Binder - Can you guys explain 60/40 tax treatment? What do I need to trade to qualify for this special consideration? Thanks for your help. Keep the show coming!

Options Drills: Options as an investment tool. Stock replacement strategy, Covered calls, Short puts, Collars, Covered strangles, Covered straddles and LEAPs Mail Call: Question from Charles Binder - Can you guys explain 60/40 tax treatment? What do I need to trade to qualify for this special consideration? Thanks for your help. Keep the show coming!

Options Bootcamp 39: Options As Investment Vehicles

Basic Training: Advanced Adjustments  Spread adjustments When should you adjust a spread? Vertical spreads. Long and short straddles. Long and short butterfly adjustments When should you adjust your flies? Iron butterflies and iron condors. Calendar spread adjustments When should you adjust basic horizontal one-month calendars?  Mail Call: The drill instructors will now take your questions  Question from Dr. Anthony - I enjoyed you episode on the wheel trade. I would like to know more about your typical use case for wheel trades, particularly when it comes to the second leg. Do you write an ITM or ATM call, hoping for the stock to be called away quickly, thereby allowing you to begin the process again? Or do you prefer to write an OTM call and attempt to capture some appreciation in the underlying, while risking losses in the stock? Question from Nik_Miner - How much money should I keep in my account for adjustments? Does 10-15% seem reasonable in case I need to roll or trade stock against my options? 

Basic Training: Advanced Adjustments <ul> <li>Spread adjustments</li> <li>When should you adjust a spread?</li> <li>Vertical spreads. Long and short straddles.</li> <li>Long and short butterfly adjustments</li> <li>When should you adjust your flies?</li> <li>Iron butterflies and iron condors.</li> <li>Calendar spread adjustments</li> <li>When should you adjust basic horizontal one-month calendars?</li> </ul> Mail Call: The drill instructors will now take your questions <ul> <li>Question from Dr. Anthony - I enjoyed you episode on the wheel trade. I would like to know more about your typical use case for wheel trades, particularly when it comes to the second leg. Do you write an ITM or ATM call, hoping for the stock to be called away quickly, thereby allowing you to begin the process again? Or do you prefer to write an OTM call and attempt to capture some appreciation in the underlying, while risking losses in the stock?</li> <li>Question from Nik_Miner - How much money should I keep in my account for adjustments? Does 10-15% seem reasonable in case I need to roll or trade stock against my options?</li> </ul>

Options Bootcamp 41: Advanced Adjustments

Options Questions of the Week: How do you prefer to trade options? 19% - Long premium 15% - Short premium 56% - I avoid earnings 10% - Other, explain below How many U.S. options exchanges do we need? 5% - 14 is perfect! 29% - The more the merrier 62% - Make it stop! 4% - Other, explain below Should options trade after hours? 53% - Heck Yes! 15% - Only in Major Names 15% - No, poor liquify 17% - No, other  Question from Alfy - Is it possible to be a day trader using options, or do you gave to take a longer term view? Question from Alex - Insider Trading, What are your thoughts on Shorting 1Y 25 Delta Puts on LNKD midday today (LNKD is at 105 as I write this message). Puts are quite juicy right now with quite acceptable break even points. I am very interested in hearing your feedback. Cheers, Big Options Trading Podcast fan, Alex. Question from Michael - $15 put Twitter drops off the map; yet the premium still has been declining. Can you explain? Question from FuturesMD - Is there a directional options strategy that you'd suggest for someone who wants to play the 2016 election? Question from TraderSon - Can a trader make a decent living buying straight call and puts, or do you have to get crazy with the complex stuff like iron condors? 

Options Questions of the Week: How do you prefer to trade options? 19% - Long premium 15% - Short premium 56% - I avoid earnings 10% - Other, explain below How many U.S. options exchanges do we need? 5% - 14 is perfect! 29% - The more the merrier 62% - Make it stop! 4% - Other, explain below Should options trade after hours? 53% - Heck Yes! 15% - Only in Major Names 15% - No, poor liquify 17% - No, other <ul> <li>Question from Alfy - Is it possible to be a day trader using options, or do you gave to take a longer term view?</li> <li>Question from Alex - Insider Trading, What are your thoughts on Shorting 1Y 25 Delta Puts on LNKD midday today (LNKD is at 105 as I write this message). Puts are quite juicy right now with quite acceptable break even points. I am very interested in hearing your feedback. Cheers, Big Options Trading Podcast fan, Alex.</li> <li>Question from Michael - $15 put Twitter drops off the map; yet the premium still has been declining. Can you explain?</li> <li>Question from FuturesMD - Is there a directional options strategy that you'd suggest for someone who wants to play the 2016 election?</li> <li>Question from TraderSon - Can a trader make a decent living buying straight call and puts, or do you have to get crazy with the complex stuff like iron condors?</li> </ul>

Options Boot Camp 61: Earnings and Election Volatility, Day Trading Options and More

Basic Training: Covered Strangles/Covered Combo  What is it? Long stock, covered call, short put. Why do it? Collect more income than a standard covered call or short put. Why not to do it? Increased margin requirement, you will increase your stock position to the downside. Example: XYZ trading at $50.   Option 1 - Sell covered front month 55 strike call for $1 - collect 2% income.   Option 2 - Sell both front month 55 call and 45 put for $1 each - collect $2 or 4% income. Rinse and repeat.  Note: Call and put should only be sold on strikes where you are comfortable buying/selling the stock. Listener Mail: Listener questions and comments  Question from Tony - Mark, love boot camp. I was lucky enough to have a fairly significant weekly put spread position in DIA this week (long puts at 166-167 and short at 161-162.5). I was making good money on Wednesday and ran into a problem. The bid ask spread on my long puts were so wide, I could not close out, roll or adjust the trade. I thought about buying futures contracts to hedge my delta risk and suck out the theta. Is there any other strategy to adjust or hedge a successful trade without getting haircut on the executions? Should I just calculate the extrinsic value add a spread and put in a limit order for the long leg? Is it always harder to close out a spread trade in a volatile market… i.e. if I want to close a spread trade does one person have to want to enter the same trade? Or can the trade go to two counter parties? Question from Mukund Ambarge - Hi Team, 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 the theta decay is 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? 

Basic Training: Covered Strangles/Covered Combo <ul> <li>What is it? Long stock, covered call, short put. Why do it? Collect more income than a standard covered call or short put. Why not to do it? Increased margin requirement, you will increase your stock position to the downside.</li> <li>Example: XYZ trading at $50.</li> </ul> <ul> <li>Option 1 - Sell covered front month 55 strike call for $1 - collect 2% income.</li> </ul> <ul> <li>Option 2 - Sell both front month 55 call and 45 put for $1 each - collect $2 or 4% income. Rinse and repeat.</li> </ul> Note: Call and put should only be sold on strikes where you are comfortable buying/selling the stock. Listener Mail: Listener questions and comments <ul> <li>Question from Tony - Mark, love boot camp. I was lucky enough to have a fairly significant weekly put spread position in DIA this week (long puts at 166-167 and short at 161-162.5). I was making good money on Wednesday and ran into a problem. The bid ask spread on my long puts were so wide, I could not close out, roll or adjust the trade. I thought about buying futures contracts to hedge my delta risk and suck out the theta. Is there any other strategy to adjust or hedge a successful trade without getting haircut on the executions? Should I just calculate the extrinsic value add a spread and put in a limit order for the long leg? Is it always harder to close out a spread trade in a volatile market… i.e. if I want to close a spread trade does one person have to want to enter the same trade? Or can the trade go to two counter parties?</li> <li>Question from Mukund Ambarge - Hi Team, 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 the theta decay is 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?</li> </ul>

Options Bootcamp 51: Covered Strangles, Theta and Closing Spreads

Options 101: Today we are joined by Dan Cook from Nadex. He walks us through the following:  What is a binary option? How does the pricing work vs. standard options pricing? How do the ticks work? Is there a multiplier? Does the price represent the pure probability of an option expiring in-the-money? How does expiration work? What about the final minutes around expiration? What is the farthest out you can trade a binary on Nadex? The Greeks: Binaries vs. Standard options Which underlyings offer binaries? How can you trade binaries? What is a typical binary use case?  Mail Call: Get your questions answered by the team.  Question from Jeb16 - I have seen a number of sports books online offering products that appear to be sports derivatives. Is it possible to trade actual products based on sports outcomes or other event-type derivatives in a legal exchange-traded form in the U.S.? Question from Amelia G. - Do you notice anything different in the options trading in higher volume products vs. lower volume products? 

Options 101: Today we are joined by Dan Cook from Nadex. He walks us through the following: <ul> <li>What is a binary option?</li> <li>How does the pricing work vs. standard options pricing?</li> <li>How do the ticks work?</li> <li>Is there a multiplier?</li> <li>Does the price represent the pure probability of an option expiring in-the-money?</li> <li>How does expiration work?</li> <li>What about the final minutes around expiration?</li> <li>What is the farthest out you can trade a binary on Nadex?</li> <li>The Greeks: Binaries vs. Standard options</li> <li>Which underlyings offer binaries?</li> <li>How can you trade binaries?</li> <li>What is a typical binary use case?</li> </ul> Mail Call: Get your questions answered by the team. <ul> <li>Question from Jeb16 - I have seen a number of sports books online offering products that appear to be sports derivatives. Is it possible to trade actual products based on sports outcomes or other event-type derivatives in a legal exchange-traded form in the U.S.?</li> <li>Question from Amelia G. - Do you notice anything different in the options trading in higher volume products vs. lower volume products?</li> </ul>

Options Bootcamp 58: What the Heck Are Binary Options?

Your hosts for this episode are:  Mark Longo, Founder, Options Insider Media Group Andrew Giovinazzi, Chief Education Officer, Option Pit Jill Malandrino, Global Markets Reporter, Nasdaq  Introduction Segment: What are Nasdaq's options education initiatives? Why are options and options education so important to Nasdaq going forward? Creating content for RIAs. Options 101: Going back to the Basics Basic Options Primer  What are options? Basic options terms Why trade options instead of stocks? What are the Greeks? Why should traders care about volatility? Buying options versus selling options Start with paper trading Know where you are going to get out before you get in 

Your hosts for this episode are: <ul> <li>Mark Longo, Founder, Options Insider Media Group</li> <li>Andrew Giovinazzi, Chief Education Officer, Option Pit</li> <li>Jill Malandrino, Global Markets Reporter, Nasdaq</li> </ul> Introduction Segment: What are Nasdaq's options education initiatives? Why are options and options education so important to Nasdaq going forward? Creating content for RIAs. Options 101: Going back to the Basics Basic Options Primer <ul> <li>What are options?</li> <li>Basic options terms</li> <li>Why trade options instead of stocks?</li> <li>What are the Greeks?</li> <li>Why should traders care about volatility?</li> <li>Buying options versus selling options</li> <li>Start with paper trading</li> <li>Know where you are going to get out before you get in</li> </ul>

Options Bootcamp 67: Getting Back to Basics

Mail Call: Your questions directed this episode. Question from Jason Kruse: Is there a Bootcamp episode that discusses OI and how it can affect expiration moves? I hear people talk about max pain and pinning like it’s a conspiracy. Would love to hear real info about how it works. Open Interest  What is it? Why is it important? Why is it not important?  Pin Risk  What is it? How prevalent is it? When should you be concerned? Is there really a conspiracy?  Question from Allen Manning:Hello everyone, I just started listening to the Options Bootcamp podcast, and I'm really enjoying it! I have a question about a strategy described in episode 20: Options in Lieu of Stocks. As a covered call alternative, I was interested in possibly buying a LEAPS with a 1 or 2 year expiration and selling monthly calls against it. When I looked up a few stocks and ran some preliminary numbers, I noticed that the cost to purchase a deep in the money LEAPS (about 80 Delta) option was usually higher than the total money I would make selling monthly calls for the duration of the LEAPS. What I did to get these rough numbers was to take the money earned from selling the initial 1-month call (after commission cost) and multiplying it by 12 or 24. I'm assuming one or more of these possibilities:  The method I used to get these figures is wrong, even as a rough estimate. This strategy will only work with certain stocks/underlying that have optimal Greek numbers. This method only works when assuming the underlying LEAP also appreciates in value to offset its own cost. Commission costs make this strategy less successful (I have a TD Ameritrade account)  Any information you can provide about this strategy is greatly appreciated. Thank you, and keep up the good work on a great program! Question from Ethan Kamen: My question may be a little basic for the esteemed Bootcamp drill instructors, but I would like to know about back spreads. It seems like the majority of the information online is devoted to ratio spreads. Is there a reason for this? Are back spreads not popular? Do you use them? If so, what scenarios are suitable for back spreads? Thanks for this show. I look forward to each new episode. Back Spreads  What are they? What is the use case for them? When shouldn't you use them?  Back spreads vs ratio spreads  What is the difference? When should you use each? Are ratio spreads more common/popular than back spreads?  Question from Ilythian: What is the ideal time horizon for trading options? My typical stock trade lifespan is 3-6 months? I have heard many people describe options as short-term investments. Is my time horizon too long to be trading options?

Mail Call: Your questions directed this episode. Question from Jason Kruse: Is there a Bootcamp episode that discusses OI and how it can affect expiration moves? I hear people talk about max pain and pinning like it’s a conspiracy. Would love to hear real info about how it works. Open Interest <ul> <li>What is it?</li> <li>Why is it important?</li> <li>Why is it not important?</li> </ul> Pin Risk <ul> <li>What is it?</li> <li>How prevalent is it?</li> <li>When should you be concerned?</li> <li>Is there really a conspiracy?</li> </ul> Question from Allen Manning:Hello everyone, I just started listening to the Options Bootcamp podcast, and I'm really enjoying it! I have a question about a strategy described in episode 20: Options in Lieu of Stocks. As a covered call alternative, I was interested in possibly buying a LEAPS with a 1 or 2 year expiration and selling monthly calls against it. When I looked up a few stocks and ran some preliminary numbers, I noticed that the cost to purchase a deep in the money LEAPS (about 80 Delta) option was usually higher than the total money I would make selling monthly calls for the duration of the LEAPS. What I did to get these rough numbers was to take the money earned from selling the initial 1-month call (after commission cost) and multiplying it by 12 or 24. I'm assuming one or more of these possibilities: <ol> <li>The method I used to get these figures is wrong, even as a rough estimate.</li> <li>This strategy will only work with certain stocks/underlying that have optimal Greek numbers.</li> <li>This method only works when assuming the underlying LEAP also appreciates in value to offset its own cost.</li> <li>Commission costs make this strategy less successful (I have a TD Ameritrade account)</li> </ol> Any information you can provide about this strategy is greatly appreciated. Thank you, and keep up the good work on a great program! Question from Ethan Kamen: My question may be a little basic for the esteemed Bootcamp drill instructors, but I would like to know about back spreads. It seems like the majority of the information online is devoted to ratio spreads. Is there a reason for this? Are back spreads not popular? Do you use them? If so, what scenarios are suitable for back spreads? Thanks for this show. I look forward to each new episode. Back Spreads <ul> <li>What are they?</li> <li>What is the use case for them?</li> <li>When shouldn't you use them?</li> </ul> Back spreads vs ratio spreads <ul> <li>What is the difference?</li> <li>When should you use each?</li> <li>Are ratio spreads more common/popular than back spreads?</li> </ul> Question from Ilythian: What is the ideal time horizon for trading options? My typical stock trade lifespan is 3-6 months? I have heard many people describe options as short-term investments. Is my time horizon too long to be trading options?

Options Bootcamp 48: The Great Open Interest Conspiracy

Basic Training: How to protect your profits.  Easiest method: 1st buy a 2-3- month put ATM or slightly OTM put. Purchase an ATM put spread with the short leg at your break-even point. Easiest to do in a single stock or underlying. What to do if you have a broad equity portfolio? Its a little more complicated. Determine the effective beta of your portfolio an how many effective shares of that index you own. Rule of thumb - Expect to spend about 2% of your portfolio for effective 3-6 month protectionHow to reduce the cost of protection. Buy a spread instead of an outright put. Set up a collar. Set up a collar with a kicker.  Mail Call: Listener Questions and Comments  Question from Big Charlie - Hey guys. What is your take on the OH/Monster merger? What does this mean for the options landscape going forward? Question from Brian Collamer - Hi Mark, If I have a short call in $SPY on the ex-dividend date that is OTM, I will not owe the dividend correct? Thanks, Brian Comment from Justin - Hi Mark, Just heard my question on the podcast! Awesome! Thanks so much. Keep doing what you do. And I will keep listening. -Jay Question from Niles F. - How much of my portfolio should I allocate to defensive strategies such as protective puts? Thank you for answering my question and for producing this fine program. Story and Question from KAISERDOG76: Funny story- I was trading on my IPad. It is the Summer 2013. CNBC is on but I am not paying attention to it. I had some cash to play with and there was some electricity in the air that day. I settled in on Apple options. This was the first and last time I used mini options. In total I spent $2,800 in capitol for options. !,400 I spent on 3 or 4 regular Apple options. Then I spent equal amount on Apple "Mini" options. This was when Apple was trading below $400 if memory serves true. Well no sooner that 10 minutes after I had completed my order and was filled on those calls? Some guy named Carl Ichan came out and made his first "Famous Apple Tweet" LMAO. I got an instant $20 plus move on the stock. My Calls I had just bought? Exploded as they were now deep in the money. On the regular Apple options I instantly made several thousand dollars? You know what I made on those Mini's? After Commissions and such it was a few hundred bucks. I was so pissed and felt just ripped off. So I have never touched a "Mini" again. Why would I right? With that kind of move and you still cannot make any real money? Forget about it. Minis are Dead to me...The VIX flirting with $11? I wish I bought some calls today too. LOL...So If I do not have a futures account. What is best way for me to hedge using Volatility? Please help a hopeless Bull who wants to get into insurance.:) Thanks for all the insight and education! 

Basic Training: How to protect your profits. <ul> <li>Easiest method: 1st buy a 2-3- month put ATM or slightly OTM put.</li> <li>Purchase an ATM put spread with the short leg at your break-even point. Easiest to do in a single stock or underlying.</li> <li>What to do if you have a broad equity portfolio? Its a little more complicated. Determine the effective beta of your portfolio an how many effective shares of that index you own.</li> <li>Rule of thumb - Expect to spend about 2% of your portfolio for effective 3-6 month protectionHow to reduce the cost of protection. Buy a spread instead of an outright put. Set up a collar. Set up a collar with a kicker.</li> </ul> Mail Call: Listener Questions and Comments <ul> <li>Question from Big Charlie - Hey guys. What is your take on the OH/Monster merger? What does this mean for the options landscape going forward?</li> <li>Question from Brian Collamer - Hi Mark, If I have a short call in $SPY on the ex-dividend date that is OTM, I will not owe the dividend correct? Thanks, Brian</li> <li>Comment from Justin - Hi Mark, Just heard my question on the podcast! Awesome! Thanks so much. Keep doing what you do. And I will keep listening. -Jay</li> <li>Question from Niles F. - How much of my portfolio should I allocate to defensive strategies such as protective puts? Thank you for answering my question and for producing this fine program.</li> <li>Story and Question from KAISERDOG76: Funny story- I was trading on my IPad. It is the Summer 2013. CNBC is on but I am not paying attention to it. I had some cash to play with and there was some electricity in the air that day. I settled in on Apple options. This was the first and last time I used mini options. In total I spent $2,800 in capitol for options. !,400 I spent on 3 or 4 regular Apple options. Then I spent equal amount on Apple "Mini" options. This was when Apple was trading below $400 if memory serves true. Well no sooner that 10 minutes after I had completed my order and was filled on those calls? Some guy named Carl Ichan came out and made his first "Famous Apple Tweet" LMAO. I got an instant $20 plus move on the stock. My Calls I had just bought? Exploded as they were now deep in the money. On the regular Apple options I instantly made several thousand dollars? You know what I made on those Mini's? After Commissions and such it was a few hundred bucks. I was so pissed and felt just ripped off. So I have never touched a "Mini" again. Why would I right? With that kind of move and you still cannot make any real money? Forget about it. Minis are Dead to me...The VIX flirting with $11? I wish I bought some calls today too. LOL...So If I do not have a futures account. What is best way for me to hedge using Volatility? Please help a hopeless Bull who wants to get into insurance.:) Thanks for all the insight and education!</li> </ul>

Options Bootcamp 47: Protecting Profits

Basic Training: Futures Options vs. Equity Options We've talked about how to use options to mitigate your portfolio risk, but many traders also rely on commodities diversification as a way to mitigate portfolio risk. Futures options strategies: All of the options strategies we've discussed on this program in the past are applicable to futures options as well with a few exceptions Covered call &amp; protective puts both require underlying futures positions - something most traders prefer to avoid. Most traders looking for diversification typically want bullish exposure to the underlying. Some great options strategies for this include:  Stock/futures replacement strategy Vertical call spread Spreads with wings  Futures are useful for traders who want to establish sizable positions with a minimum of outlay Options on futures can be useful for traders and asset managers who want exposure to alternative asset classes but can't or won't trade futures. You'll need a futures account to trade futures options - but if you use risk mitigated strategies such as spreads and don't get net short units and close out positions near expiration you don’t have to worry about dealing with the underlying. Mail Call: Listener questions and comments  Question from Jim Horn: Hey boot campers! I keep hearing about a spread called a onebytwo. What the heck is that? Am I even saying it right? Great show. Thanks for educating poor slobs like me. Question from Tom Evans, St. Louis, MO: What does more volume futures or options? Also does one do more electronically than the other? If I'm looking to dive into one am I better off going with the futures or the options? Lastly can you clarify the difference between CBOE and CME and CBOT? They all sound the same to me. Question from Anon: On several of your programs you mention that it is important to understand the VIX cash level at a given SPX level. Can you please explain this further? As an example, what are the implications of a 12 VIX at 1800 vs. a 9 VIX at 1800? Likewise, how does a 15 VIX at 1800 compare? 

Basic Training: Futures Options vs. Equity Options We've talked about how to use options to mitigate your portfolio risk, but many traders also rely on commodities diversification as a way to mitigate portfolio risk. Futures options strategies: All of the options strategies we've discussed on this program in the past are applicable to futures options as well with a few exceptions Covered call &amp; protective puts both require underlying futures positions - something most traders prefer to avoid. Most traders looking for diversification typically want bullish exposure to the underlying. Some great options strategies for this include: <ul> <li>Stock/futures replacement strategy</li> <li>Vertical call spread</li> <li>Spreads with wings</li> </ul> Futures are useful for traders who want to establish sizable positions with a minimum of outlay Options on futures can be useful for traders and asset managers who want exposure to alternative asset classes but can't or won't trade futures. You'll need a futures account to trade futures options - but if you use risk mitigated strategies such as spreads and don't get net short units and close out positions near expiration you don’t have to worry about dealing with the underlying. Mail Call: Listener questions and comments <ul> <li>Question from Jim Horn: Hey boot campers! I keep hearing about a spread called a onebytwo. What the heck is that? Am I even saying it right? Great show. Thanks for educating poor slobs like me.</li> <li>Question from Tom Evans, St. Louis, MO: What does more volume futures or options? Also does one do more electronically than the other? If I'm looking to dive into one am I better off going with the futures or the options? Lastly can you clarify the difference between CBOE and CME and CBOT? They all sound the same to me.</li> <li>Question from Anon: On several of your programs you mention that it is important to understand the VIX cash level at a given SPX level. Can you please explain this further? As an example, what are the implications of a 12 VIX at 1800 vs. a 9 VIX at 1800? Likewise, how does a 15 VIX at 1800 compare?</li> </ul>

Options Bootcamp 50: Futures Options vs. Equity Options

Options Boot Camp 75: Bringing Education Back With A Vengeance  HOST: Mark Longo, Founder and CEO - The Options Insider Media Group Co-Host: Dan Passarelli, Founder - Market Taker Mentoring.  Mark and Dan are bringing options education back with a vengeance! In this episode, they kick things off by looking back at a tumultuous 2018. Then they follow up with a super-sized Mail Call segment answering all of your pent-up questions about Apple, skew trades, options exchanges, options education, USO verticals and much more. It's time to get back in peak options trading shape. It's time for Options Boot Camp!

Options Boot Camp 75: Bringing Education Back With A Vengeance <ul> <li>HOST: Mark Longo, Founder and CEO - The Options Insider Media Group</li> <li>Co-Host: Dan Passarelli, Founder - Market Taker Mentoring.</li> </ul> Mark and Dan are bringing options education back with a vengeance! In this episode, they kick things off by looking back at a tumultuous 2018. Then they follow up with a super-sized Mail Call segment answering all of your pent-up questions about Apple, skew trades, options exchanges, options education, USO verticals and much more. It's time to get back in peak options trading shape. It's time for Options Boot Camp!

Options Boot Camp 75: Bringing Education Back With A Vengeance

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