How to Build an Options Portfolio That Can Take a Hit

Five pillars that keep premium sellers in the game: position sizing at 2-5%, uncorrelated positions across 8-12 underlyings, a permanent 20-30% cash reserve, strategy diversification, and a written drawdown plan with pre-committed actions at every level.

Probability of Touch vs. Probability of Expiring ITM: Why Your Short Strike Gets Tested More Often Than You Think

Your platform shows 85% probability of profit. But there's a 30% chance the stock visits your short strike before expiration. Learn the 2:1 rule, how Prob Touch differs from Prob ITM and Prob OTM, and why closing at 50% eliminates remaining touch risk.

The Capital Efficiency Hybrid: How LEAPS, Cash-Secured Puts, and Covered Calls Make Every Dollar Work

LEAPS control stock at 30% of the cost, freeing 65-75% of capital to sell cash-secured puts. When assigned, covered calls generate income on shares. A $50,000 hybrid portfolio runs 10+ income streams where a traditional portfolio runs 3.

Apple PMCC Trade Setup: Building the Position Today

Full AAPL Poor Man's Covered Call setup with real option chain data. Jan 2028 $210 LEAPS at $78.50 + May $275 short call at $3.45. Capital math, income projections, and earnings management plan.

Apple LEAPS Strategy Review: 92% Return Using Poor Man's Covered

How a Poor Man's Covered Call on Apple delivered 92% returns in six months using LEAPS. Real trade breakdown, income results, and capital efficiency analysis.

Income Math with LEAPS - Basis Reduction, Yield on Capital, and Realistic Expectations

Learn the real income math behind LEAPS (PMCC) strategies: basis reduction tracking, yield on capital calculations, and realistic expectations with practical examples and risk rules.

The JPM Collar: What It Is, How It Works, and Why Every Options Trader Should Understand It

The JPMorgan Hedged Equity Fund runs a $21 billion put-spread collar on the SPX, resetting quarterly with ~45,000 contracts per leg. Learn the three-leg structure, the roll mechanics, and why it shapes pricing for every options trader.

📩 The Option Premium Weekly Issue - April 5, 2026

Advanced Options Strategies: The Professional's Guide to Premium Selling, Credit Spreads, Iron Condors, and Earnings Plays

24 years of professional options trading in one comprehensive guide. The complete framework: why selling premium works, IV Rank and IV Percentile, the expected move formula, the 7-step process, credit spread and iron condor management rules, a real Visa earnings trade, and the 5 mistakes that destroy traders.

Buy Your Umbrella Before the Storm: Why Smart Traders Purchase Volatility Protection When It's Cheap

Academic research proves VIX is a superior hedge that costs 3x less when bought during calm markets. Three practical methods for systematic volatility protection with a 1-2% annual budget.

The Pre-Earnings IV Crush Trade: Selling Volatility Before the Announcement

IV overestimates earnings moves by 15-20%. Learn to sell inflated premium 1-3 days before announcements using iron condors placed outside the expected move, with 6 risk rules for binary events.

The Real Difference Between Buying and Selling Options

Most options education only teaches the buyer side. Here is the complete picture: what buyers and sellers each receive, risk, and gain from every options trade.