Delta, theta, vega, and gamma operate simultaneously on every position. Here is how to read all four at once using a covered call as the concrete example.
A practitioner's defensive playbook for the poor man's covered call, organized into four layers of hedging with eight practical tactics you can use.
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
