Options Playbook Radio

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?
Direct download: OptionsPlaybookRadio139.mp3
Category:financial podcast -- posted at: 1:44pm CST

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

Direct download: BestOfOPR122216.mp3
Category:general -- posted at: 11:05am CST

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
Direct download: OptionsPlaybookRadio138.mp3
Category:financial podcast -- posted at: 10:02am CST

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!)
Direct download: OptionsPlaybookRadio137.mp3
Category:financial podcast -- posted at: 2:49pm CST

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?
Direct download: OptionsPlaybookRadio136.mp3
Category:financial podcast -- posted at: 12:30pm CST

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
Direct download: OptionsPlaybookRadio135.mp3
Category:financial podcast -- posted at: 11:39am CST

What situations might be a good time for covered call writing? There is also the long put spread from last week to discuss. You can follow on pages 50 and 62, respectively, of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.

This week, Brian discusses:

  • What has happened to the market since the election?
  • Why is the VIX going up when the market is going up?
  • How did we do from the long put spread from last week?
  • What were the risk parameters?
  • Covered call writing
  • Don't forget about the Thanksgiving holiday
  • What is the timeframe?
  • Looking for the Goldilocks of volatility
  • Avoid earnings
  • Setting up the trade

Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.

Direct download: OptionsPlaybookRadio134.mp3
Category:financial podcast -- posted at: 12:18pm CST

For the last few weeks, we have been looking at earnings plays, including a short call spread (page 64), and today we're looking at a long put spread (page 62) of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.

On tap for today:

  • Pushing all-time highs post-election
  • Reviewing last week's FB trade
  • Where is the market right now?
  • Putting on a long put spread in SPY
  • What is the timeframe?
  • Setting up the trade
  • What is the maximum risk? Reward? Break-even?

Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.

Direct download: OptionsPlaybookRadio133.mp3
Category:financial podcast -- posted at: 10:59am CST

'Tis the season. Earnings season, that is. Let's take a look at another earnings play, specifically a short call spread. You can find this on page 80 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.

Today Brian discusses:

  • A review of last week's CVX front spread
  • Facebook (FB) announced earnings just after this recording
  • What is the expected move post-earnings?
  • Do we agree with that prediction?
  • Selecting an expiration
  • Setting up the trade
  • What's the risk? Reward?

Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com.

Direct download: OptionsPlaybookRadio132.mp3
Category:financial podcast -- posted at: 1:25pm CST

In this episode of Options Playbook Radio, we are talking about a front spread with calls.You can find this on page 80 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.

In this episode, Brian discusses:

  • A review of last week
  • Chevron (CVX) will announce earnings before the open on 10/28
  • What kind of move can we expect?
  • Setting up the trade
  • Picking the expiration
  • What strikes to use?
  • What is the maximum upside? Risk?
  • What about margin?

Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com

Direct download: OptionsPlaybookRadio131.mp3
Category:financial podcast -- posted at: 12:50pm CST

We are going to look at a backspread with puts this week. You can find that on page 87 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.

Today, Brian discusses:

  • A review of the MRO covered call from last week
  • Making an adjustment based on new outlook
  • Walgreens, which is merging with Rite-Aid, has earnings coming up
  • What can we do with that? A backspread with puts
  • What is the outlook?
  • Setting up the trade
  • What is the risk? Reward?
  • How to stay out of the valley of death

Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com

Direct download: OptionsPlaybookRadio130.mp3
Category:financial podcast -- posted at: 11:27am CST

We are taking a look at covered calls today. If you want to follow along, we are on page 50 in the Options Playbook. You can always follow along on OptionsPlaybook.com, or on the Amazon Kindle edition.

Today, Brian covers:

  • A long-term straddle that we looked at about four weeks ago on the S&P 500
  • A covered call in MRO
  • What is the option chain in MRO?
  • Figuring out the upside
  • What is the cost?
  • What is the outlook?

Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com

Direct download: OptionsPlaybookRadio129.mp3
Category:financial podcast -- posted at: 12:22pm CST

In this episode, Brian and Mark huddle up to answer listener questions. They take on:

  • Question from Yukoner: Do you ever do spreads in LEAPS. Why and how? So I used to trade the LEAPS rather than buy the stock. Is that a good use case?
  • Question from Tradecraft: Is there a correlation between high options OI and options price levels?

Do you have questions that you would like answered on the show? Send them to Brian at theoptionsguy@tradeking.com

Direct download: OptionsPlaybookRadio128.mp3
Category:financial podcast -- posted at: 9:24am CST

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.

Direct download: OptionsPlaybookRadio127.mp3
Category:financial podcast -- posted at: 9:30am CST

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.

Direct download: OptionsPlaybookRadio126.mp3
Category:financial podcast -- posted at: 12:11pm CST

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.

Direct download: OptionsPlaybookRadio125.mp3
Category:financial podcast -- posted at: 12:11pm CST

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.

Direct download: OptionsPlaybookRadio124.mp3
Category:financial podcast -- posted at: 11:49am CST

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.

Direct download: OptionsPlaybookRadio123.mp3
Category:financial podcast -- posted at: 12:21pm CST

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!
Direct download: OptionsPlaybookRadio122.mp3
Category:financial podcast -- posted at: 11:17am CST

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?
Direct download: OptionsPlaybookRadio121.mp3
Category:financial podcast -- posted at: 4:39pm CST

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.

Direct download: Options_Playbook_120_final.mp3
Category:financial podcast -- posted at: 11:34am CST

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
Direct download: OptionsPlaybookRadio119.mp3
Category:financial podcast -- posted at: 5:01pm CST

'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
Direct download: OptionsPlaybookRadio118.mp3
Category:financial podcast -- posted at: 2:25pm CST

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?
Direct download: OptionsPlaybookRadio117.mp3
Category:financial podcast -- posted at: 11:09am CST

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?
Direct download: OptionsPlaybookRadio116.mp3
Category:financial podcast -- posted at: 1:27pm CST

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?
Direct download: OptionsPlaybookRadio115.mp3
Category:financial podcast -- posted at: 11:20am CST

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
Direct download: OptionsPlaybookRadio114.mp3
Category:financial podcast -- posted at: 2:31pm CST

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?
Direct download: OptionsPlaybookRadio113.mp3
Category:financial podcast -- posted at: 2:11pm CST

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?
Direct download: OptionsPlaybookRadio112.mp3
Category:financial podcast -- posted at: 2:08pm CST

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?
Direct download: OptionsPlaybookRadio111.mp3
Category:financial podcast -- posted at: 1:44pm CST

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
Direct download: OptionsPlaybookRadio110.mp3
Category:financial podcast -- posted at: 2:17pm CST

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?
Direct download: OptionsPlaybookRadio109.mp3
Category:financial podcast -- posted at: 2:43pm CST

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
Direct download: OptionsPlaybookRadio108.mp3
Category:financial podcast -- posted at: 2:21pm CST

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?
Direct download: OptionsPlaybookRadio107.mp3
Category:financial podcast -- posted at: 10:19am CST

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
Direct download: OptionsPlaybookRadio106.mp3
Category:financial podcast -- posted at: 1:59pm CST

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?
Direct download: OptionsPlaybook105.mp3
Category:financial podcast -- posted at: 3:32pm CST

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
Direct download: OptionsPlaybookRadio104.mp3
Category:financial podcast -- posted at: 4:06pm CST

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?
Direct download: OptionsPlaybookRadio103.mp3
Category:financial podcast -- posted at: 11:06am CST

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?
Direct download: OptionsPlaybookRadio102.mp3
Category:financial podcast -- posted at: 9:38am CST

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?
Direct download: OptionsPlaybookRadio101.mp3
Category:financial podcast -- posted at: 2:32pm CST

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?
Direct download: OptionsPlaybookRadio100-5.mp3
Category:financial podcast -- posted at: 12:03pm CST

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
Direct download: OptionsPlaybookRadio100-4.mp3
Category:financial podcast -- posted at: 1:46pm CST

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
Direct download: OptionsPlaybookRadio100-3.mp3
Category:financial podcast -- posted at: 1:18pm CST

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?
Direct download: OptionsPlaybook101.mp3
Category:financial podcast -- posted at: 3:48pm CST

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
Direct download: OptionsPlaybookRadio100.mp3
Category:financial podcast -- posted at: 3:28pm CST

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...
Direct download: OptionsPlaybook99.mp3
Category:financial podcast -- posted at: 11:27am CST

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?
Direct download: OptionsPlaybookRadio98.mp3
Category:financial podcast -- posted at: 1:50pm CST

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?
Direct download: OptionsPlaybookRadio97.mp3
Category:financial podcast -- posted at: 2:25pm CST

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?
Direct download: OptionsPlaybookRadio96.mp3
Category:financial podcast -- posted at: 12:09pm CST

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?
Direct download: OptionsPlaybookRadio95.mp3
Category:financial podcast -- posted at: 6:26pm CST

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
Direct download: OptionsPlaybookRadio94.mp3
Category:financial podcast -- posted at: 2:29pm CST

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?
Direct download: OptionsPlaybookRadio93.mp3
Category:financial podcast -- posted at: 3:42pm CST

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