Options Playbook Radio
471 episodes - English - Latest episode: 4 months ago - ★★★★★ - 46 ratingsWelcome to Options Playbook Radio - the program where we break down cutting edge options strategies and explain how you can incorporate them into your own portfolio. Whether you’re looking to grow your capital with some offensive maneuvers or protect your investments with defensive plays, you can find them all in the Options Playbook. Options involve risk. Please refer to https://www.ally.com/invest/disclosures to review additional risks involved with trading options.
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Episodes
Options Playbook Radio 71: Christmas Tree Butterflies with Calls
July 30, 2015 17:38 - 13 minutes - 12.7 MBToday, we are still discussing Christmas Tree Butterflies. For those of you with the hardcover version of the Options Playbook, you can find this on page 118. If you are following along online, it is all at OptionsPlaybook.com. Today, Brian discusses: Why are we talking about Christmas Tree Butterflies around earnings? Using a real-world example with FB The normal Christmas Tree Butterfly pattern Customizing the Christmas Tree Butterfly to minimize risk Maximum risk, maximum reward Wh...
Options Playbook Radio 70: Continuing Christmas Tree Butterflies
July 23, 2015 19:33 - 19 minutes - 17.8 MBIn this episode, we are continuing our coverage of Christmas Tree Butterflies. For those of you with the hardcover version of the book, this is on pages 118 (calls) and 120 (puts). If you are following along online, you can find everything you need on OptionsPlaybook.com. Today Brian discusses: Back to earnings season equals good scenarios for butterflies Why? Creating a paper trade with Amazon, using puts Setting up the trade What strikes we are using What will this cost? Where d...
Options Playbook Radio 69: Christmas Tree Butterfly
July 16, 2015 20:22 - 14 minutes - 13.7 MBIn this episode, we are looking at the Christmas Tree Butterfly. If you are following along with the hard cover version of the book, it is on page 118 (calls) and page 120 (puts). If you are online, this information is always available on OptionsPlaybook.com. Today Brian discusses: What is a Christmas Tree Butterfly? Setting it up How does a Christmas Tree Butterfly differ from a standard butterfly? Where is the sweet spot? Why do a Christmas Tree Butterfly instead of a standard but...
Options Playbook Radio 68: Review of the Iron Condor
July 09, 2015 23:36 - 21 minutes - 19.9 MBIn this episode, we are reviewing some of the paper trades discussed in the past few Iron Condor episodes. If you are following along with the hardcover book, we are on page 126. You can always find this on OptionsPlaybook.com. Today, Brian discusses: What was going on when we put on a short SPX paper trade last week? A review of the set up and the cost What do things look like now? Are we up? Down? What about time decay? What about the VIX? Should we roll? Going back two weeks, re...
Options Playbook Radio 67: More Iron Condors
July 02, 2015 18:58 - 13 minutes - 13.4 MBIn this episode, we are continuing our coverage of Iron Condors. If you have the hardcover version of the book, this is available on page 126. If you are following along online, you can always find this on OptionsPlaybook.com. Today Brian discusses: A review from the previous episodes, including what happened in AAPL since last time What do to now that AAPL has moved close to the bottom strike? Setting up a short-term iron condor using an index Beware of the holiday and volatility S...
Options Playbook Radio 66: Iron Condors, Continued
June 25, 2015 16:12 - 15 minutes - 13.9 MBThis week we are continuing our discussion of iron condors. For those of you playing the home game, you can find this information on page 126. If you're following along online, all of this information is always at OptionsPlaybook.com. Today Brian discusses: A review of last time, which discussed indexes Looking at an iron condor on AAPL, going out 23 days What about earnings? Dividends? Quick and dirty formula for probability How does the math play out? Brian assembles an iron cond...
Options Playbook Radio 65: Iron Condors, Continued
June 18, 2015 21:58 - 21 minutes - 20.7 MBIn this episode, Brian is talking about iron condors. If you have the hardcover version of the Options Playbook, you can find this information on page 126. If you are following along online, all of this information is always available at OptionsPlaybook.com. Today, Brian discusses: How iron condors differ from regular condors Looking at iron condors with index options Why iron condors work well with index options Looking at an example with the S&P 500 Index
Options Playbook Radio 64: Iron Condors
June 11, 2015 19:40 - 12 minutes - 12.5 MBIn this episode, we are discussing iron condors. For those of you with the hardcover version of the book, you can find this information on page 126. If you want to follow along online, it is all on OptionsPlaybook.com. Today Brian discusses: The set-up of an iron condor Why is it called a condor? What is an iron condor? What is the next risk? What is the potential reward? When to get out? What do you want to happen?
Options Playbook Radio 63: Inverse Skip Strike Butterflies, Continued
June 04, 2015 19:34 - 12 minutes - 11.8 MBOver the last few weeks, we have been talking about butterflies, and last week, we covered inverse skip strike butterfly. This week, we are hitting that, but with calls. You can find this on page 112 of The Options Playbook, or look for it on OptionsPlaybook.com Today Brian discusses: A review of last time, which was centered on DECK earnings Looking at an inverse skip strike butterflies with calls What is the outlook? What is the expected move? What is the risk? Reward?
Options Playbook Radio 62: Inverse Skip Strike Butterfly
May 28, 2015 18:22 - 12 minutes - 11.8 MBIn this episode, we're discussing the inverse of skip strike butterflies. This can be found on pages 112 and 115 of the hardback version of the book, or you can always go to OptionsPlaybook.com. Today, Brian discusses: When you would want to use an inverse skip strike butterfly A live example using Deckers Outdoor What might happen to the underlying, and how to structure a position around it? What is the risk? What is the reward potential? And more
Options Playbook Radio 61: The Golden Rule
May 21, 2015 19:52 - 20 minutes - 18.4 MBOptions Playbook Radio 61: The Golden Rule In this episode, we are taking on more listener questions, including: In- versus out-of-the-money golden rules The top 10 mistakes made by options traders Ways to offset decay Getting what you pay for Volatility Moneyness and time value
Options Playbook Radio 60: Listener Question Palooza
May 14, 2015 20:45 - 19 minutes - 17.9 MBOptions Playbook Radio 60: Listener Question Palooza In this episode, Brian and Mark take on listener questions as they attend the Options Industry Conference. They take on topics including: Skip strike butterflies around AAPL earnings Regular butterflies versus iron butterflies Has expiration Friday changed in significance in recent years? What about triple and quadrupole witching? The idea of daily expiration options When is Rho a factor? Why is rolling a position so prominent? ...
Options Playbook Radio 59: Skip Strike Butterflies, Continued
May 07, 2015 19:38 - 12 minutes - 11.7 MBOptions Playbook Radio 59: Skip Strike Butterflies, Continued In this episode, Brian continues his discussion of Skip Strike Butterflies. If you have the hard copy version of The Options Playbook, turn to page 108 for calls, or page 110 for puts. Today, Brian discusses: A review of last episode A real-world example using Priceline, which posts earnings on 5/7 before the open Let’s look at the ATM straddle for the options expiring on 5/8. What has happened previously to Priceline around...
Options Playbook Radio 58: Back to Butterflies
April 30, 2015 16:20 - 17 minutes - 15.9 MBOptions Playbook Radio 58: Back to Butterflies In this episode, we’re discussing skip strike, or modified/broken wing butterflies. If you’re playing the home game, you can find this information on page 108 (skip strike butterflies with calls) or page 110 (skip strike butterflies with puts). Additionally, it’s always available on OptionsPlaybook.com. Today, Brian discusses: Understanding butterflies first How a skip strike butterfly is different than a regular butterfly Risk trade-offs v...
Options Playbook Radio 57: Trading Diagonal Call Spreads around Earnings
April 23, 2015 18:23 - 16 minutes - 16.1 MBOptions Playbook Radio 57: Trading Diagonal Call Spreads around Earnings In this episode, Brian discusses trading around earnings, specifically using diagonal call spreads. You can find details on this at: tradeking.com/allstars Brian discusses: An example using Gilead Sell a call before earnings, buy a call after earnings Why is this called a diagonal? What is the maximum risk? Things to consider And more…
Options Playbook 56: Butterflies Around Earnings
April 17, 2015 02:35 - 14 minutes - 13.8 MBOptions Playbook 56: Butterflies Around Earnings It is earnings season, and Brian discusses multiple butterfly strategies you can use around this time of season.
Options Playbook Radio 55: Huddle Up for Listener Questions
April 09, 2015 17:08 - 18 minutes - 17.6 MBOptions Playbook Radio 55: Huddle Up for Listener Questions. Today, we’re covering listener questions. Brian and Mark discuss: · Which OTM call strike performs best when the underlying rallies? · This covers: · Timing · Volatility · Volatility skew · Alternatives · And more…
Options Playbook Radio 54: Butterfly Spreads, continued
April 02, 2015 20:02 - 20 minutes - 19.5 MBOptions Playbook Radio 54: Butterfly Spreads, continued In this episode we are continuing our coverage of butterfly spreads. For those of you with the hardcover book, you can find this information on pages 103 and 104. You can also follow along on OptionsPlaybook.com. Today, Brian discusses: Two real strategies: a butterfly around IBM earnings, and a SPX Let’s look at what is happening with IBM IBM going into earnings Butterfly using IBM weekly options Focusing on the midpoint Maximu...
Options Playbook Radio 53: Butterfly Spreads
March 26, 2015 17:35 - 18 minutes - 17.5 MBOptions Playbook Radio 53: Butterfly Spreads Today in Options Playbook Radio, we’re discussing butterfly spreads. For those of you with the hardcover version of the book, this can be found on pages 103 and 104. You can always find it on OptionsPlaybook.com as well. Today, Brian discusses: What do we mean by legs? How are butterfly spreads entered as a trade? Looking at an example using XYZ calls Where do you start? What is the net debit? What is the max risk? What is the max gain? ...
Options Playbook Radio 52: Front Spreads, Part Two
March 20, 2015 15:45 - 20 minutes - 18.5 MBOptions Playbook Radio 52: Front Spreads, Part Two In this episode, we’re covering front spreads. For those of you with the hardcover book, that information can be found on page 80 (calls) or page 82 (puts). You can also find everything on OptionsPlaybook.com. Today, Brian discusses: A review from last week, what is a front spread, what about risk, etc. Why do this instead of a cash-secured put? Let’s look at this using AAPL as an example Comparing a covered call and front spread What...
Options Playbook Radio 51: Front Spreads
March 13, 2015 04:48 - 12 minutes - 12.1 MBOptions Playbook Radio 51: Front Spreads In this episode, we’re talking about the front spread. In the book, this is on page 80 (calls) and page 82 (puts). Or, just find it on OptionsPlaybook.com. In this episode, Brian discusses: What is a front spread? What about unlimited risk? What is the goal of this spread? Maximum risk, maximum gain, and breakeven How to do a front spread combined with stock And more…
Options Playbook Radio 50: Listener Takeover
March 06, 2015 01:12 - 18 minutes - 17.9 MBOptions Playbook Radio 50: Listener Takeover Today, Brian and Mark huddle up to discuss: What is time premium? Why does it exist? Why can’t you trade an option for its intrinsic value? Are there any tips to help a new trader process so much options-related information?
Options Playbook Radio 49: Long Calendar Spreads into Earnings
February 26, 2015 21:05 - 16 minutes - 15.5 MBOptions Playbook Radio 49: Long Calendar Spreads into Earnings In this episode, we are covering trading around earnings. For those of you with the hardcover book, you can find this on page 94. If you’re following along online, you can find it on OptionsPlaybook.com. Today, Brian and Mark discuss: If you put on a long calendar spread, what do you want to happen to volatility after the trade is put on? Good places to review are episodes 36 and 37 At look at LULU pre-earnings Setting up a...
Options Playbook Radio 48: Theta, Revisited
February 19, 2015 20:57 - 18 minutes - 17 MBOptions Playbook Radio 48: Theta, Revisited In this episode, Mark and Brian are back and taking on your questions. In this episode, they discuss: Theta data When decay flattens out Riding the road of premium decay What is the optimal ratio of theta versus gamma? And more…
Options Playbook Radio 47: When to Roll Protective Puts
February 12, 2015 16:58 - 18 minutes - 17.7 MBOptions Playbook Radio 47: When to Roll Protective Puts Today, Mark and Brian answer listener questions, including: When to roll protective puts? What to pay? How far out should you look? And more…
Options Playbook Radio 46: Paper Trade for ABX Earnings
February 05, 2015 17:19 - 18 minutes - 16.6 MBOptions Playbook Radio 46: Paper Trade for ABX Earnings In this episode, we are covering a specific paper trade strategy around an earnings report. It will be a long calendar spread with calls, which is on page 90. You can also find it on OptionsPlaybook.com. You can also learn about long calendar spreads in Options Playbook Radio episode 37. Today, Brian discusses: The forecast based on the chart The chains for selecting the paper trade Volatility of ABX 52-week history of ABX, and ...
Options Playbook Radio 45: Combinations, continued.
January 30, 2015 20:46 - 24 minutes - 22.1 MBOptions Playbook Radio 45: Combinations, continued. Continuing from last week, we are still discussing combinations. This information can be found on pages 76 and 78 of the hardcover book, or on OptionsPlaybook.com. Today, Brian discusses: Clarification on combinations using a real example: AAPL Long combination, instead of outright stock purchase Looking out to January 2016 Rights and obligations How the combination works and its financial impact Don’t forget about margin! How d...
Options Playbook Radio 44: Combinations
January 22, 2015 21:05 - 15 minutes - 14 MBOptions Playbook Radio 44: Combinations Welcome back to Options Playbook Radio, where today we’re discussion combinations, or combos. If you have the book, we’re on page 76 (long) or 78 (short). For those of you following along online, you can find it on OptionsPlaybook.com Today Brian discusses: Before we get to combos, let’s first discuss synthetic relationships What are synthetic positions? Why create them? How to create them? What do the pros do?
Options Playbook Radio 43: Listener Question Palooza, Continued
January 16, 2015 00:33 - 17 minutes - 16.3 MBOptions Playbook Radio 43: Listener Question Palooza, Continued The Huddle: Question from Anthony Enyo - Thank you for this wonderful program Brian. I am certainly learning a great deal. I have a few questions about dividends and options. I’ve heard there are some telltale signs in the options that reveal that a dividend is approaching. Is this true and if so what are they? Question from Joseph G - @Options Gamma? Are them those rays that turned Dr. Bruce Banner into the Hulk? lol....
Options Playbook Radio 42: Listener Questions Edition
January 08, 2015 20:56 - 19 minutes - 18 MBOptions Playbook Radio 42: Listener Questions Edition The Huddle: Listener questions and comments Question from Brian Collamer - Hi Brian! In this show you were describing selling OTM options. You mentioned that when selling options the fastest theta decay occurs in the 45-30 day range. I thought that was only true for ATM options? Do OTM options not decay the fastest at 60-70 days and then kind of flatten out?? Great show, wish it was longer! Thanks, Brian Question Mukund Ambarge: Hi!...
Options Playbook Radio 41: Back to Backspreads
December 30, 2014 01:22 - 16 minutes - 15.6 MBOptions Playbook Radio 41: Back to Backspreads In this episode, we cover backspreads. If you’re playing along at home with the hardcover book, this means we’re on pages 84 (calls) and 87 (puts). If you’re following along online, you can find all of this at OptionsPlaybook.com. Today Brian discusses: A review from last time Looking at an example with Chevron What do we need to happen? What is the risk? What to look for between backspreads and straddles? Why do a backspread? And more…
Options Playbook Radio 40: Backspreads
December 19, 2014 04:04 - 20 minutes - 4.7 MBOptions Playbook Radio 40: Backspreads In this episode, we’re covering Backspreads. For those of you with the hardcover version of the Options Playbook, you can find this on page 84 (calls) and page 87 (puts). It’s also online at OptionsPlaybook.com. Today, Brian discusses: What are backspreads? An example using calls An example using puts Other names for a backspread Factors that matter, including time When to use backspreads And more…
Options Playbook Radio 39: Diagonal Spreads, Continued
December 04, 2014 18:57 - 18 minutes - 17.1 MBOptions Playbook Radio 39: Diagonal Spreads, Continued This week’s edition of Options Playbook Radio is continuing our coverage of diagonal spreads. For those of you with the hardcover version of the book, we’re on page 96 (calls) and page 99 (puts). If you’re following along online, you can find what you need at OptionsPlaybook.com. Today Brian covers: Review from last week Tesla example, and why a diagonal spread works for this example Paying attention to delta What to watch for and ...
Options Playbook Radio 38: Diagonal Spreads
November 20, 2014 18:12 - 22 minutes - 21.5 MBOptions Playbook Radio 38: Diagonal Spreads In this week’s edition of Option Playbook Radio, we’re covering diagonal spreads. You can find this on page 96 (call) and page 99 (put) of the hardback version, or at OptionsPlaybook.com. Today, Brian discusses: Calendar/horizontal spreads, and when you would use them What is a diagonal spread? Why is it called a diagonal spread? The history of some of the spread nomenclature Possible outcomes of diagonal spreads And more…
Options Playbook Radio 37: Long Calendar Spreads, Continued
November 13, 2014 19:25 - 23 minutes - 21.7 MBOptions Playbook Radio 37: Long Calendar Spreads, Continued In this episode of Options Playbook Radio, we’re continuing our discussion of long calendar spreads. For those of you with the hardcover version of the book, this is on page 90 (calls) or page 93 (puts). You can also find it on OptionsPlaybook.com. Today, Brian discusses: A review from last week’s introduction Using an example of FB around earnings What makes earnings season special for calendar spreads Why direction matters ...
Options Playbook Radio 36: Long Calendar Spreads
November 07, 2014 01:13 - 23 minutes - 21.7 MBOptions Playbook Radio 36: Long Calendar Spreads In this episode, we’re talking about long calendar spreads, from the call side. If you have the Playbook, we’re on page 90. Or, you can find what we’re discussing on OptionsPlaybook.com. Today, Brian discusses: What is a calendar spread? Looking at accelerated time decay, and why does it happen? At-the-money strikes, and why they are used in calendar spreads Front and back month How to construct a calendar spread Why do a calendar spre...
Options Playbook Radio 35: Straddles and Strangles, Continued.
October 31, 2014 16:10 - 28 minutes - 6.61 MBOptions Playbook Radio 35: Straddles and Strangles, Continued. Options Playbook Radio is back and today we are on pages 68 and 70. For those of you playing along online, you can find these topics at OptionsPlaybook.com. Today Brian discusses: What does the math say about Facebook earnings Looking at the FB straddle Why do investors use it? How do weekly options impact it? Quick and dirty formula on p. 17 of the book What are volatility and probability telling us with the math? Using...
Options Playbook Radio 34: Buying Straddles & Strangles
October 23, 2014 18:54 - 18 minutes - 17.5 MBOptions Playbook Radio 34: Buying Straddles & Strangles Welcome back to Options Playbook Radio. For those of you with the book, today we are on pages 48 and 52. You can also find this information on OptionsPlaybook.com. Today Brian discusses: A quick review of long spreads, including risk/reward A quick homework assignment: review sessions 4 and 5 A generic example of a long straddle A generic example of a long strangle What does the math say 70% of the time? And more
Options Playbook 33: Selling Spreads, Continued
October 16, 2014 23:37 - 23 minutes - 5.36 MBOptions Playbook 33: Selling Spreads, Continued For those of you playing the home game, today we are on pages 64 and66 . If you are following along online, you can access everything you need at OptionsPlaybook.com. Today Brian discusses: Overview of last week on timing and probability when selling spreads If you need a volatility review, please refer to episode 4 Real-life example using AAPL Impact of timeframes Premium relative to probability of success (and what is success?) And mo...
Options Playbook Radio 32: Selling Spreads
October 10, 2014 16:41 - 16 minutes - 15.4 MBOptions Playbook Radio 32: Selling Spreads Welcome back to Options Playbook Radio! For those of you with the hardcover book, today we’re on pages 64 (short call spread) and 66 (short put spread). Or, you can find information on our discussion on OptionsPlaybook.com Today Brian discusses: They’re also known as bear call or bear put spreads Using out-of-the-money options Examples using calls What is the maximum profit? What is the maximum risk? Probability of success Don’t forget abou...
Options Playbook Radio 31: Buying Spreads, Continued
October 03, 2014 21:43 - 22 minutes - 20.3 MBOptions Playbook Radio 31: Buying Spreads, Continued For those of you with the book, today we’re on page 60. If you want to follow along online, please visit OptionsPlaybook.com. http://www.optionsplaybook.com/, Today Brian discusses: How spread trading differs from single options trading Avoiding paying premium to close out a position A real world example using Intel How do earnings impact options prices? Time value and how you pay for it And more…
Options Playbook Radio 30: Long Spreads
September 25, 2014 21:55 - 20 minutes - 18.4 MBOptions Playbook Radio 30: Long Spreads For those of you with a copy of the Playbook, we’re on page 60. If you are following along on OptionsPlaybook.com, look for the Long Call/Put section. Today, Brian discusses: What does it mean to have a “long” spread? Bull call spread, bear put spread. Vertical spreads What does it all mean? Crafting a P/L graph without owning the stock Risks and rewards are limited and known Common misunderstandings
Options Playbook Radio 29: Collar Strategy
September 18, 2014 17:11 - 23 minutes - 22 MBOptions Playbook Radio 29: Collar Strategy We’re on page 54 of the hardback version of the Playbook, or find it on OptionsPlaybook.com Today, Brian discusses: How collars go hand-in-hand with protective puts Timeframes, and their importance What is a collar? How does it work? What’s the cost? What’s the upside? How far out in time should you go? The impact of interest rates and dividends And more
Options Playbook Radio 28: Protective Puts
September 11, 2014 19:07 - 20 minutes - 19 MBOptions Playbook Radio 28: Protective Puts For those of you with a copy of the Playbook, we are on page 152, If you are looking at the Options Playbook website, just look for "Protective Puts" in the Strategy Tab Today Brian discusses: Using a protective put when selling stock. Risk taken on by writing a protective put. What is a "married" put How known events can affect the cost of writing a protective put. Using an index option as protection for a portfolio of stocks.
Options Playbook Radio 27: Index Options
September 04, 2014 19:06 - 20 minutes - 19.3 MBOptions Playbook Radio 27: Index Options For those of you with a copy of the Playbook, we're on page 145 "So what is an index option anyhow?" If you are looking at the Options Playbook website, just look for "Index Options" in the Options Basics Tab Today Brian discusses: American-style expiration vs. European-style expiration. The very first listed index option. S&P 500 Index and the DOW 30. Capitalization weighted vs. Equal dollar weighted vs. Price weighted. AM Settlement vs PM Se...
Options Playbook Radio 26: Early Exercise & Assignment
August 28, 2014 23:47 - 21 minutes - 4.97 MBOptions Playbook Radio 26: Early Exercise & Assignment For those of you with a copy of the Playbook, we’re on page 140. If you are looking at the Options Playbook website, just look for “What is Early Exercise and Assignment.” Today Brian discusses: A review of rolling option contracts Why will you not necessarily be assigned on a contract that is in-the-money? American-style options versus European-style options Exercise versus assignment Why don’t option buyers exercise instantly? ...
Options Playbook Radio 25: How We Roll
August 21, 2014 19:49 - 18 minutes - 16.9 MBOptions Playbook Radio 25: How We Roll We’re on page 134 in the book, or look for “How We Roll” in the Options Playbook website. In this episode, Brian discusses: Position management: what does it mean? How the covered call rules apply A deep dive with an example Looking for an option that will cover the cost of rolling And more...
Options Playbook Radio 24: The Fig Leaf Strategy
August 14, 2014 18:24 - 17 minutes - 16.3 MBOptions Playbook Radio 24: The Fig Leaf Strategy In this episode, we’re on page 56 of the Playbook. Or, look for the fig leaf in the strategies tab online, or look for the plays in the Kindle version. Today, Brian discusses: Where did the name originate? What is it? What is it NOT? How is it composed? Determining goals and finding appropriate options. Key considerations and nuances Max loss and max gain How to avoid assignment, or rolling And more
Options Playbook Radio 23: Combining Cash-Secured Put Selling with Covered Call Writing
August 07, 2014 19:43 - 13 minutes - 12.6 MBOptions Playbook Radio 23: Combining Cash-Secured Put Selling with Covered Call Writing For those of you with the hardback version of the Playbook, today we’re on pages 48 and 44, respectively. Brian discusses: A review of what makes for a decent covered call underlying How to approach a stock that you like What is dollar-cost averaging? What happens when your stock doesn’t go up? The dividend question How to carry on with this strategy And more…
Options Playbook Radio 22: Cash-Secured Puts
July 31, 2014 15:42 - 15 minutes - 14.6 MBOptions Playbook Radio 22: Cash-Secured Puts For those of you playing the home game, we’re on page 48. Or, just look for cash-secured puts in the rookies section, or the plays section. This time, Brian covers: What it means to be cash-secured What it means to sell a put Scenarios with different stock prices Considerations and catches