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Portfolio Beta Weighting: How to Manage Your Entire Options Portfolio as a Single Position
Target beta-weighted delta at 10-30% notional. Beta-weighted theta at 0.1-0.2% per day. Weekly delta check in 2 minutes. Stress test: what a 5% SPY drop costs your portfolio. Rebalancing triggers. The complete framework.
The Jade Lizard in a Sold-Off Market: Why This Structure Thrives When Stocks Are Down and IV Is Up
After a selloff, put premiums are inflated by fear and call premiums are elevated by broad IV expansion. The jade lizard collects 20% more premium than a standalone put, clears the credit-greater-than-width threshold easily, and eliminates upside risk. Real trade example with construction.
You've Been Doing Covered Calls Wrong. Here's the Smarter Way to Think About Them.
A covered call and a short put at the same strike have identical risk profiles. Same P&L at every price. Same Greeks. The only difference: $15,000 in capital vs. $3,000. The risk equivalence that changes how professionals deploy capital.
IV Rank vs. IV Percentile: Why Every Premium Seller Needs Both (and Which One I Trust More)
IV Rank uses 2 data points. IV Percentile uses 252. A single spike can blind IVR for months while IVP stays accurate. Learn the formulas, the spike distortion problem, and how to use both together with real examples.