Course 18Individual lesson
OS10 — The Protective Put
Options Strategies (ES & SPX)
A protective put combines a long position in the underlying with a long put on it — insurance for a holding. The put sets a floor: below its strike, the pu
30 days access
$9
Course 18Individual lesson
OS11 — The Collar
Options Strategies (ES & SPX)
A collar combines three pieces: a long position in the underlying, a long put for downside protection, and a short call to help pay for that protection. It
30 days access
$9
Course 18Individual lesson
OS12 — What a Vertical Spread Is
Options Strategies (ES & SPX)
A vertical spread combines two options of the same type (both calls or both puts) and the same expiration, at different strikes — you buy one and sell the
30 days access
$9
Course 18Individual lesson
OS13 — The Bull Call Spread
Options Strategies (ES & SPX)
A bull call spread is a bullish, defined-risk debit vertical: you buy a lower-strike call and sell a higher-strike call (same expiration). It costs a net d
30 days access
$9
Course 18Individual lesson
OS14 — The Bear Put Spread
Options Strategies (ES & SPX)
A bear put spread is a bearish, defined-risk debit vertical — the put-side mirror of the bull call spread. You buy a higher-strike put and sell a lower-str
30 days access
$9
Course 18Individual lesson
OS15 — The Bull Put Spread
Options Strategies (ES & SPX)
A bull put spread is a bullish-to-neutral, defined-risk credit vertical: you sell a higher-strike put and buy a lower-strike put (same expiration). You rec
30 days access
$9
Course 18Individual lesson
OS16 — The Bear Call Spread
Options Strategies (ES & SPX)
A bear call spread is a bearish-to-neutral, defined-risk credit vertical — the call-side mirror of the bull put spread. You sell a lower-strike call and bu
30 days access
$9
Course 18Individual lesson
OS17 — The Long Straddle
Options Strategies (ES & SPX)
A long straddle buys a call and a put at the same strike and expiration (usually at the money). It profits from a big move in either direction — it doesn't
30 days access
$9
Course 18Individual lesson
OS18 — The Long Strangle
Options Strategies (ES & SPX)
A long strangle buys an out-of-the-money call and an out-of-the-money put (different strikes, same expiration). Like a long straddle, it profits from a big
30 days access
$9
Course 18Individual lesson
OS19 — Short Straddles and Strangles
Options Strategies (ES & SPX)
Short straddles and strangles are the opposite of their long versions: instead of buying the call and put, you sell them. A short straddle sells a call and
30 days access
$9
Course 18Individual lesson
OS20 — The Iron Condor
Options Strategies (ES & SPX)
An iron condor combines a bull put spread (below the price) and a bear call spread (above the price) into one four-leg position. You collect a net credit a
30 days access
$9
Course 18Individual lesson
OS21 — The Iron Butterfly
Options Strategies (ES & SPX)
An iron butterfly is a short straddle with protective long wings — the defined-risk version of a short straddle, and a close relative of the iron condor. Y
30 days access
$9
Course 18Individual lesson
OS22 — The Calendar Spread
Options Strategies (ES & SPX)
A calendar spread (a horizontal or time spread) uses the same strike but different expirations: you sell a near-dated option and buy a longer-dated option
30 days access
$9
Course 18Individual lesson
OS23 — The Diagonal Spread
Options Strategies (ES & SPX)
A diagonal spread differs from the others in both strike and expiration at once: you sell a near-dated option at one strike and buy a longer-dated option a
30 days access
$9
Course 18Individual lesson
OS24 — Capstone: Matching Structure to View and Risk
Options Strategies (ES & SPX)
This capstone ties the book together: every strategy is a structure with a payoff, and choosing one means matching the structure to a view (direction, or a
30 days access
$9
Course 19Individual lesson
OR01 — Start Here
Risk Management for Options
Welcome to Risk Management for Options — the book that turns strategy knowledge into survivable practice. Knowing what the strategies are (the previous boo
30 days access
$9
Course 19Individual lesson
OR02 — The Mathematics of Ruin
Risk Management for Options
Losses hurt more than equal gains help — and that asymmetry is the mathematical reason risk management comes first. If you lose 50% of your capital, you ne
30 days access
$9
Course 19Individual lesson
OR03 — Defined vs Undefined Risk, Revisited
Risk Management for Options
The defined-vs-undefined-risk lens from the strategy book isn't just a way to classify strategies — it's the most important survival distinction in options
30 days access
$9
Course 19Individual lesson
OR04 — What Position Sizing Is
Risk Management for Options
Position sizing is the decision of how much capital to put at risk on a single trade — and it's the single most important risk decision you make, more impo
30 days access
$9
Course 19Individual lesson
OR05 — Risk Per Trade and the R-Multiple
Risk Management for Options
Risk per trade — call it R — is the amount of money you put at risk on a single trade. The R-multiple expresses every outcome as a multiple of R: lose your
30 days access
$9
Course 19Individual lesson
OR06 — Sizing Options Positions
Risk Management for Options
Sizing an options position means translating its maximum loss per unit into a number of contracts or spreads, so the total worst-case loss equals your chos
30 days access
$9
Course 19Individual lesson
OR07 — Leverage and Notional Exposure
Risk Management for Options
Options and futures are leveraged: a small amount of money controls a much larger amount of underlying value. That larger value is your notional exposure —
30 days access
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Course 19Individual lesson
OR08 — The Greeks as Risk Measures
Risk Management for Options
The Greeks you learned for pricing are also a risk dashboard. Delta measures your directional exposure (how much you gain or lose per point the underlying
30 days access
$9
Course 19Individual lesson
OR09 — Delta and Directional Risk
Risk Management for Options
Delta is the headline risk number, because directional risk — being wrong about which way the market goes — is usually the biggest risk an options trader f
30 days access
$9