Options Playbook Radio (financial podcast)

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 CDT

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.


  • 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 CDT

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.


  • 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 CDT

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 CDT

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 CDT

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 CDT

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 CDT

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 CDT

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 CDT

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.


  • 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 CDT