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Andy Crowder has traded options for 24 years. Every Sunday he writes up what the market did, what the options data says about it, and what a premium seller should do about it. The math is shown. The losing trades are shown. Nothing is predicted, because nobody can, and the letter will not pretend otherwise.
The letter has the same shape every Sunday. Here is each section and what it is for, with examples from a recent issue.
The first three or four paragraphs. What changed this week, what it means for a premium seller, and, when it applies, the plain statement that the posture has changed. Last week it was: breadth broke, the posture moves to defense, and here is what defense means in one paragraph you can act on. When the letter is wrong, this is also where it says so.
The week's numbers with the reasoning attached. What the index did and why. Which earnings names had their premium crushed, and by how much. What the inflation or jobs prints did to rate odds. And any warning the letter made in an earlier issue that this week confirmed or refuted, either way.
A table of the dates that matter, Fed decisions, expirations, earnings, with one line on why each one matters. Then a paragraph on how a premium seller should trade around them. A hike into weak breadth followed by a witching Friday is a week for defined risk only, and the section says that in those words.
One branded chart of the week's returns and volatility readings across indexes, sectors and rates. Read it in ten seconds and you know what happened. The rest of the letter explains why.
Two full articles published on the site during the week, one on Tuesday and one on Thursday, with a paragraph each on what it argues and why it was written for this week. Recent examples: how edges stack in options trading, and what the research record actually says about premium selling.
One foundational concept, explained with real numbers and tied to the week it runs in. The law of large numbers. Expected move. Probability of profit. Written for someone who already knows what a put is and wants to know why the rules exist.
The behavior side of trading. Sizing, hedging, when to stop, how to hold a losing position without lying to yourself about it. Last week it was three bearish hedges, priced and sized, and which failure mode each one protects against. Most newsletters do not have this section. This one thinks it is the most important.
One mechanic, taken apart. Rolling a vertical spread. Choosing a strike. When a roll is risk management and when it is denial. Real numbers and the rule that comes with them.
A piece of market history that explains a rule you follow. Why quadruple witching has that name, and why the exchanges moved index settlement to the open in 1987. Short, and usually the part readers forward.
Two watchlists, ETFs and individual stocks. The Liquid Ten table: IV rank, IV percentile, relative strength and trend strength for the most traded names in each. The Sell Zone, where options are rich and the trend agrees. The Buy Zone, where options are cheap, with an honest note on whether cheap means on sale or falling. Notable readings, the trend picture, and the breadth numbers that decide the posture. A key to every field so you can read the table yourself.
What the week means for the next one. Smaller or larger, defined or undefined, hedged or not, and where premium is still worth selling. Then a short note from Andy, and one request: if the issue taught you something, forward it to one person.
The Option Premium teaches options the way a trader explains them to a colleague: the math, the reasoning, and an honest account of what did not work. If you have traded options for years and want a better process, the Sunday letter is for you. If you know what a put is and want to learn the rest, it is for you too. It does not talk down to you, and it does not try to sell you anything on the way to the point.
Markets humble everyone eventually. The letter is written by someone who has been humbled enough times to say so. That is most of what it has to offer.
Every issue opens with what the market did and what the options data said about it. Breadth, the VIX, IV rank across the board, which earnings names had their premium crushed. Andy reads it the way he reads it for his own account, and he shows his work. Nothing here is called exclusive. It is either in the data or it is not.
A table of the most liquid ETFs and stocks with IV rank, IV percentile, relative strength and trend strength, then the Sell Zone and the Buy Zone. Weekly market stats and the breadth charts that decide the posture. These are the same tools Andy uses to decide what to sell and what to leave alone, published as he uses them.
Three teaching sections each week: Options 101, Educational Corner, and Did You Know. One concept, real numbers, and enough history to know why the rule exists. The law of large numbers. Rolling a vertical spread. Why quadruple witching has that name. Read them all and you will know more than most people selling options courses.
Where premium is rich and the trend agrees, the letter says so and says why. Where premium is cheap because the underlying is breaking, it says that too. You get the structure, the strikes, the probability, and the reason the alternatives were passed over. What you do with it is your decision, and the letter will not pretend it knows how your trade turns out.
Position sizing, defined risk, hedges bought while they are still cheap, and a plain statement the Sunday the posture changes from selling premium to protecting capital. Mental Capital covers the behavior side every week. The goal is not to be right on one trade. It is to still be trading after the bad ones.
Reader questions get answered in the letter. The Discord and the Facebook group are where subscribers compare notes. Nobody there is trying to sell you a system. Most of them are trying to get better at this, same as you.
Andy has traded options professionally for 24 years. He learned the work side by side with one of the original CBOE market makers, taught three-day options classes in Chicago on the same strategies he trades today, and spent years at Cabot Wealth Network before starting The Option Premium on his own.
Every trade in the paid services is published, including the ones that lose. A newsletter that only shows you its winners is not showing you a track record.
More about Andy →You get probabilities, expected moves, and the reasoning behind them. You do not get a price target.
Trades have their own timing. Nothing here will tell you to act before Monday's open.
Losing trades are written up the same way winning ones are. Usually in more detail, because that is where the lesson is.
No broker recommendations, no sponsored tools. We do not run that business.
The Sunday newsletter is free and stays free. Behind it are three paid services with live model portfolios: The Income Foundation ($9 a month), Wealth Without Shares ($49 a month), and The Implied Perspective ($129 a month). All three together are $149 a month or $1,495 a year. You do not need any of them to get value from Sunday.
Compare the services →[Testimonial 1, from the testimonials page]
[Testimonial 2, from the testimonials page]
[Testimonial 3, from the testimonials page]
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