The Option Premium
Whether you're looking to capitalize on market volatility, hedge your portfolio, or explore new trading strategies, we provide comprehensive research, trade ideas, portfolios, and education in an effort to empower options traders of all levels.
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Poor Man’s Covered Calls (PMCCs) use LEAPS to replace expensive stock positions, reducing capital needs by 65 to 85%. Learn how this strategy generates consistent income with flexibility and lower risk.
How to find the best stocks for credit spreads using liquidity, IV rank, IV percentile, and expected move. A step-by-step framework for consistent profits.
Learn Andy Crowder's 5-step earnings options framework: liquidity, IV rank, expected move, historical behavior, and iron condor setup with real Visa trade numbers.
Learn how The Wheel Strategy can boost your portfolio with cash-secured puts and covered calls for steady income and lowered risk.
Learn how to calculate the expected move using implied volatility, place strikes outside the range, and build high-probability credit spreads with real SPY examples.
How the Law of Large Numbers powers probability-based options trading with 70-85% win rates. The math, the strategy, and a real SPY bear call spread example.
A practitioner's framework for trading earnings using expected move, implied volatility, and disciplined position sizing. Trade the reaction, not the report.
Opening a Bull Put Spread
Opening Up a New Position for August Expiration
Rolling the last of the July expiry positions
The delta you sell puts at sets your win rate, your premium, and your entry price. A practitioner's framework for the three delta bands and when to use each.
Taking Off the XOM Iron Condor
The 2026 book is up 131.6% across 18 trades, and it got there the boring way. This week we cash a winner and start building August, one careful trade at a time.
The First Half Is in the Books. $32.63 in Premium, 35 Positions Closed, and the Wheel Turning Right on Schedule.
9 ETFs Above 50% IVR. XLF Collapsed 52 Points. Financials at Above 70 RS. Biotech at Above 70. Breadth at 2026 Highs.
The Volatility You Are Holding
The VIX sinks 14% to 15.81 and premium thins out. Plus the Nobel Prize research that explains why volatility spikes never last.
Gamma measures how fast delta changes with each stock move. Here is why it spikes near expiration, why it is the biggest risk for short-term sellers, and how experienced traders manage it.
