Options Playbook Radio

For the last few weeks, we have been discussing long put spreads, which can be found on page 62 of The Options Playbook. You can always follow along online on OptionsPlaybook.com. This week Brian discusses: A reivew of the last two trades he covered What has the market done since? Where does it leave the spread? What do we do now? How will we reduce risk? Setting up the trade When do we close out? Setting up a new trade What is the outlook? Do you have a question that you would like to have answered on Options Playbook Radio? You can submit your feedback right on the Options Playbook Radio Facebook page. There, you will also find past episodes, and more from your host Brian Overby.

Continuing with the long SPX put spread that we put on last week, Brian looks at current market conditions and decides if and how to make any adjustments. If you want to follow along in the Options Playbook, this is on page 62. You can always find this information on OptionsPlaybook.com. This week Brian discusses: What happened after the Fed meeting last week? A recap of last week's strategy What did the market do? Based on how the market moved, how do we make an adjustment? Picking the strikes What is the risk? Cost basis? What are the possibilities within the strikes of the butterfly? Given where the market is, what should we do? What is the outlook? What is the adjustment Do you have a question that you would like to have answered on Options Playbook Radio? You can submit your feedback right on the Options Playbook Radio Facebook page. There, you will also find past episodes, and more from your host Brian Overby.

This week, we are moving past earnings to look a the overall market. To do this, we'll try a long put spread, which is on page 62 of The Options Playbook. You can always find the information online at OptionsPlaybook.com. Today, we discuss: A review of last week's bull call spread on FL What was our forecast? What happened? Now that earnings are mostly over, let's look at the general, overall market Setting up a long put spread in the S&P 500 Picking expriations: why weekly options over standard options? With these expriations, we are selling more time premium that we are buying Picking strikes: where is the SPX right now? Will Labor Day impact the spread? What was the net cost? Risk? Don't forget about commissions!

To follow along, you can find long call spreads on page 60 of the Options Playbook. You can also play along online at OptionsPlaybook.com In this episode, Brian discusses: A review of last week's episode featuring TIF What happened since putting on the TIF paper trade? Moving on to FL, which reports earnings tomorrow, August 19 Where is the long straddle trading on the options expiring on August 19? What is the outlook on FL? Setting up the trade What is the risk? Reward?

This week Brian takes a look back at his previous earnings trade on PCLN. What went right? What went wrong? Tune in to this episode of Options Playbook Radio to find out. Have a question for Brian? He's happy to answer them directly via the TradeKing Facebook Page - https://www.facebook.com/tradeking.

We're still in earnings season, so let's take a look at Priceline. Sticking with butterflies, this week we are looking at put butterflies. You can find this on page 104 in The Options Playbook, but you can always find this online at OptionsPlaybook.com. This week we cover: Review of last week's GOOG butterfly What a difference choosing expirations can make Upcoming Priceline earnings (before the open on Aug. 4) What is the at-the-money long straddle? What is the outlook? Setting up the butterfly What kind of move is the market expecting? What is our maximum risk? Reward? And more

'Tis the season...earnings season. Instead of avoiding earnings, we are jumping right in, and are going to do so with a long butterfly with calls on GOOG. If you want to follow along with the book, you can find this on page 102. Today, Brian covers: A review of last time, including a mistake we made with the math GOOG announces earnings after the close on July 28 Setting up a butterfly to capture earnings numbers What is the most at-the-money straddle in the nearest-term expiration? Why do we look at this straddle number? What is the outlook? Setting up the butterfly What kind of move is the market expecting? What is our maximum risk? Reward? Choosing the 9-day versus the 2-day expiration

Brian is back to discuss how things went with the the long call that he discussed last week. Specifically, he discusses: The AMZN long call spread from last week Turning that into a standard butterfly with calls What happened after we placed the paper trade? What was the adjustment? Where do things stand now? How would we close the position? What is the risk? Reward?

We are back to strategies this week and are looking at long call spreads...with a twist. If you're following along at home, this is on page 60 of the Options Playbook, but you can always find it on OptionsPlaybook.com. Jumping in: AMZN is announcing earnings in two weeks, but we are looking to avoid those earnings We're taking a traditional long call spread, and trying to make it time/premium positive What does that mean? What is the break-even? Setting up the trade What adjustment would we make to it?

Mark and Brian are diving in to listener questions, including: Question from skeball: Where do you see the VIX going, and how will impact stock picking in this market? Which leads to: Who does the volatility swings benefit? Day traders? Swing traders? Long-term traders? Summer doldrums No more earnings What will the Fed do? When/how does VIX revert to the mean?

In this episode, Brian is joined by Mark to take on listener questions. They discuss: What indexes or products work best for synthetic covered calls? That brings up: Fig leaf Greeks How to roll

In this episode, Brian is joined by Bill Ryan, Managing Director at the NYSE. They discuss: What are ByRDs? What about pricing? Is time on your side? Probabilities and their relative factors VWAP matters: find out more at nyse.com/byrds What products have ByRDs? What type of expirations are there? Can you sell ByRDs to bring in a credit? Can retail customers trade ByRDs?

Mark and Brian are taking your questions. Question from Jim Duggan: FOMC and Brexit are approaching. What are some good ways to use options to play Brexit or FOMC? Question from Vegan: For an options newbie, how would I construct a trade with most possibilities to win? I understand that the potential profit might be small. What time frame is good as well?

This week, we are continuing the conversation about long butterfly spreads with puts that started last time. You can find this information on page 104 of the Options Playbook, or on OptionsPlaybook.com. In this episode, Brian discusses: A review of last week. What was the plan? Does the plan need to be revised? Can we still make a profit? How to manipulate the legs to create a new, profitable positions. What is the new plan? What is the maximum risk? Reward? What do we want to happen?

Today we're looking at a strategy based on the overall market, a long butterfly with puts. You can find this on page 104 of the Options Playbook, or you can always find it on OptionsPlaybook.com Specifically: Looking at the overall market: where is the S&P 500? Will there be a new all-time high, or will there be a pullback? European verus American style options Weekly versus monthly options Setting up the trade Maximum risk & profit What will happen to implied volatilities? Contingency plans

Coming to you live (to tape) from the Options Industry Conference, Mark and Brian are back and they have more listener questions to address. This week, they are taking on: Do the remaining specialists/DPMs do a good job of making markets, or are there too few of them? Are there too many strikes? Expirations? Why have the more exotic stratgies become more popular?

Huddle up, listeners. We're taking listener questions. Vega: Do puts and calls become more expensive ahead of events due to risk premium? If so, how do I avoid that? When do you want implied volatility to increase? How to avoid swings around earnings Critter: Is selling premium less risky than buying premium? Build your strategy around your forecast Common misconceptions

Huddle Up: Listener questions and comments Bean bag: Could you discuss the put/call ratio, its use, and metrics as a tool? Reid: Do options stats or unusual activity predict stock movements accurately?

You can find information on iron condors in the Options Playbook on page 126. You can also always find all of this information on OptionsPlaybook.com. In this episode, Brian discusses The AMZN iron condor from last week General guidelines for earnings trades A review of the GOOG trade from a few weeks ago A deep look at TSLA What is the ATM straddle for the nearest expiration? Picking the strikes Determining the over/under so you can stay away from that What is the upside? Downside? Understanding the odds. Remember that you CAN lose. Rationale for the expiration date

With it being earnings season, let's take a look at a strategy around AMZN earnings. You can always find information on iron condors on OptionsPlaybook.com. Today Brian discusses: A review of the GOOG skip-strike butterfly from last week Taking a look at AMZN going into earnings Where is the long straddle of the nearest-term expiration? Why a skip-strike butterfly didn't work in this case. Why was this the case? How to make the most of the high implied volatility? How to get way out-of-the-money? Setting up the iron condor What is the maximum risk? Gain?

Today we are looking at a skip strike butterfly with calls on GOOG, which announces earnings after the close the day of this recording. You can find this information on page 104 of the Options Playbook, or on OptionsPlaybook.com. This includes: A quick review of the VZ paper trade we put on last week What's going on in GOOG Why are we setting up a skip strike butterfly? Setting up the trade How are we paying for the trade? What's the upside? Downside? The worst case scenario The best case scenario

Last week, we initiated a bull put spread paper trade in GPS, and reviewed a YHOO skip-strike butterfly. Now, we will review. Specifically: Reviewing strategies. What strategies work best and when? Looking at the long call, which is on page 40 of The Options Playbook, or on OptionsPlaybook.com What happened since GPS announced sales? What is going on with YHOO? Setting up a paper trade in VZ What is notable right now in VZ Looking at buying an out-of-the-money put in VZ The setup, the cost, the delta, and IV Under what circumstances would you buy an out-of-the-money option?

Last week, we discussed skip-strike butterflies on YHOO, and put on a paper trade. Today, we are looking at Gap Stores (GPS), and putting on a paper trade that is based on a neutral to bullish outlook. Specifically: A review of last week What did we want YHOO to do? What did YHOO do? Time decay and expiration Taking a look at GPS Where is the underlying? What is the trading range? What is the outlook? Setting up the trade What is the maximum risk? What is the maxiumum upside?

Great thanks to everyone who participated in the Options Playbook Radio 100th episode extravaganza. Today, we are heading back to the playbook and looking at a YHOO skip-strike butterflies with an approximately 15-day expiration. Specifically: Avoiding the expiration that has the earnings Setting up the trade What is the maximum profit? What is the maximum risk? What do we want to happen in YHOO? When would you use a skip-strike butterfly? What's the worst-case scenario?

Today, Brian and Mark take a look at back at episode 96 with Mark Sebastian from Option Pit. They discuss: What was the setup at the time for AMZN? What position did we create? What was the net cost? What was the outlook? What does Mark Sebastian think of the trade? What would Mark do?

In the last few episodes, we have talked to other options experts. Today is no exception, as we are joined by "Uncle" Mike Tosaw from RCM Wealth Advisors. They discuss: Episode 93: Backspreads with Puts on NFLX recap Synthetic options The impact of volatility Directionality into earnings What will happen to volatility if your forecast is correct? And more

The 100th episode of Options Playbook Radio is the gift that keeps on giving. In this third part of the celebration, Mark and Brian are joined by Russell Rhoads, from the CBOE Options Institute. They discuss: What is the VIX? History of the VIX Other volatility products Where are these products traded? How does venue impact the cost of trading? How are people using volatility products? Is there a difference between ETFs and ETNs on volatility? A good candidate for a paper trade

We are continuing with the 100th episode spectacular. Today, our featured guest is Dan Sheridan from Sheridan Options Mentoring. They discuss: A review of a TWTR iron condor paper trade What was the situation when the trade was put on? What does Dan think? Doing a spec trade What would Dan do? Should we have considered weekly options? What about gamma? Did we use the baseball bat for its intended purpose?

For this special episode, Brian is joined by: Mark "the Voice of Options" Longo Andrew "the Rock Lobster" Giovinazzi They discuss: Iron condor on AMZN Setting up the trade What did they decide? What happened after the paper trade? Premium selling relative to earnings The zones, and when to avoid them Caveats, greeks, volatility, and other considerations And more

Today it is time to take a longer term view on oil. How will this happen: the fig leaf strategy. For those of you at home, you can find this on page 56. You can always find the information on OptionsPlaybook.com. Today, Brian discusses: Will OPEC work with oil producers to cut production? Taking a look at oil services companies, specifically XOM What is the fig leaf strategy? Setting up the trade Does the company pay a dividend? Taking a longer-term outlook for XOM Looking for a high-delta option contract Picking the right contracts What's the maximum risk? Reward? What is the outlook? And more...

We're back from the listener question/congressional aide briefing break, and ready to move through the Playbook. Today we are looking at an iron condor going into earnings. This is on page 126 of The Options Playbook, or you can always find it on OptionsPlaybook.com. Specifically: Looking at a TWTR paper trade going into earnings (which, at the time of this recording, was going to be in 17 minutes) TWTR is at the highest IV it has ever been before earnings The long straddle is implying at least an 18% move in TWTR after earnings (non-directional) Setting up the trade Picking strikes Selecting the right expiration What is the net cost? What is the risk? Reward? What do we want to happen?

In this episode, Brian beams in from Capitol Hill and is joined by Mark to answer listener questions. You wanted to know: Question from 777-Are there expectations for a Google stock split anytime soon? How would that impact the options trading? Question from Hot Emini-There is a big disconnect in retail that theta is the end-all greek. But isn't vega the king greek for pros? What about gamma? Where does that fall in the mix?

In this episode, Brian is looking at skip strike butterflies with call options. You can find this information in the hardcover and Kindle versions of The Options Playbook, and it's always available on OptionsPlaybook.com. He discusses: A review of last week's iron condor What happend to AMZN? Why do this around earnings? What is the marketplace expecting? Aka expected move or over/under How to set up the trade What do you want to happen? What is the risk? Reward?

Today we are looking at putting on an iron condor on AMZN before earnings. Specifically: Why volatile markets are very interesting trading environments Where is AMZN? How to use volatility to create a position What is the rationale? What is the outlook until earnings? Setting up the trade What is the maximum risk? What is the maximum gain? What is the goal?

Today we are taking on listener questions, specifically about options pricing. You will be able to find information on options pricing in the Options Playbook. You can always find it on OptionsPlaybook.com. Today, we discuss: In a bull call spread, or even a bear put spread, (AKA long spreads), how to you manage time decay? Picking your strikes What is the outlook? Remember volatility What is the biggest benefit of a spread? And more

In this episode, we are going to talk about a trade around earnings. One of Brian's go-to trades when he thinks that there will be more volatility than what the market is predicting, he turns to backspreads, in this case with puts. You can find this on page 87 of The Options Playbook, or, as always, on OptionsPlaybook.com. In this episode, Brian discusses: NFLX announces earnings on 1/19, so we will set up a paper trade to discuss that week What is the market saying? How will this inform setting up the trade? What do we want to happen? What will it cost? What is the risk?

In this episode, we are discussing how to adjust positions. You can find this information on page 104 of The Options Playbook. Brian goes into more detail with: How to adjust a put butterfly? How was the butterfly set up on Monday? What was the direction? What was the concept of this strategy? What has happened since the trade was put on? How, and when, to make adjustments What do we want to happen? Do you want to see a video of what was just discussed? Send Brian an email through Facebook, or go here.

We have been talking about double diagonals for the last few weeks, which we are continuing in light of the Fed meeting yesterday. You can find this information on page 87 of the Options Playbook, or on OptionsPlaybook.com. Today, Brian discusses: The double diagonal strategy around GE It’s been almost 11 years since the Fed raised rates Where was GE trading? Setting up the double diagonal in GE Don’t forget commissions! What is the maximum reward? Risk? Don’t manage risk, and you’ll get the stupid award What do we want to happen? What is the market saying? So, what did happen? And more

You can find double diagonals on page 128 of The Options Playbook, or you can follow along online on OptionsPlaybook.com. Today, Brian discusses: A review of double diagonals Setting up a double diagonal on the S&P 500 index Yes, you can do this with options expiring tomorrow What will this cost? What do you want to happen? What is the risk? Reward? And more

You can find information about double diagonals on page 128 of the Options Playbook, or you can always find it on OptionsPlaybook.com. In this episode, Brian discusses: Will the Fed increase rates the next time they meet? How can using double diagonals take advantage of the probability of the Fed increasing rates? Structuring the double diagonal to wrap around the news from a timing point of view What about volatility? Setting up the trade What do we want to happen? What is the biggest thing to worry about?

We are moving on to double diagonals, which can be found on page 128 of the Options Playbook. You can always find this on OptionsPlaybook.com. In this episode, Brian covers: Double diagonals overview Why are they called diagonals? Setting up the trade Risks and benefits And more

Options Playbook Radio 87: Listener Questions on the Short Squeeze & Brokers It's time to huddle up as Mark and Brian take on listener questions. Topics include: Does "hard to borrow" apply to options the way it does to stocks? Who is the best online broker for stocks, options, and futures?

Wait a minute, is that Mark Longo? Yes it is, and he joins Brian on this episode of Options Playbook Radio, in which they take on listener questions, which include: Inflated implied volatility skewing positions How to find stocks that have inflated options premium

As we are in the thick of earnings season, let's take a look at two different trades that one could employ to capitalize on movement around earnings. This week, Brian discusses: A review of skip-strike butterflies, bullish and bearish Looking at FB earnings What is the market expecting? How to set up the trade if you think there will be a lot of volatility? Only a little volatility? What is the downside? Upside? How about a ratio spread? And more

Huddle up, traders. Today's discussion addresses listener questions. They include: Nelson from NC: Exploring covered calls on dividend playing stocks. Remember rho You might not receive as much premium. Why? Dr. Ram: How to trade multi-leg option strategies in an IRA account You can't use anything that provides leverage You also have to avoid unlimited risk Remember that you have to be approved within the IRA account Depending on many factors, you will be assigned a level of options trading Brokers can decide what strategies are available to you

In this episode, we are discussing skip-strike butterflies with calls that we did last earnings season. This was in episode 77. For those of you with the hardcover version of the book, please turn to page 108. If you are following along online, this is always at OptionsPlaybook.com. Today Brian discusses: Setting up a skip-strike butterfly on AMZN around earnings. Where is the market right now? What do we want to happen in AMZN? What is the maximum reward? Risk? How to use the proceeds of one leg to buy the other. The good news and the bad news.

In this episode, we are discussing. If you have a copy of The Options Playbook, this information is available on page 68. You can always follow along online at OptionsPlaybook.com. Today, Brian discusses: The caveats of long straddles Why do long straddles work in this market climate? Looking at long straddles for GE, which announces earnings on Friday, October 16, before the open. What is the marketplace implying GE could do AFTER earnings? Setting up the trade What do you want to happen?

Dan Sheridan is back with Brian, and today they are discussing how to set up an iron butterfly on the RUT. You can find this on page 106 of the Options Playbook, or on OptionsPlaybook.com. They discuss: Looking at a two-week iron butterfly in RUT Where has RUT been for the last six months? Setting things up, and why might width be different? What is the risk? Why do this in a volatile market? How and why is this repeatable? What is the plan? And more

In this episode, Brian is joined by Dan Sheridan from Sheridan Options Mentoring. They continue the discussion of Iron Butterflies, which began last week. If you have a hardcover version of the book, this is on page 106. They discuss: What is the difference between an iron condor versus an iron butterfly? Why are iron butterflies popular? Receiving a credit versus paying a debit. What about risk? Advantages of iron butterflies Are iron butterflies better than other strategies? What underlyings do people like to do iron butterflies on? What about taxes and commissions?