Articles
Long-form essays on options strategy, volatility and trade construction.
52 Week High Low Volatility
How the 52 Week High/Low Volatility Screener finds options with implied volatility at a yearly extreme.
Read articleAbout Volatility Skew
What option-implied volatility skew tells you about expected stock direction.
Read articleBe a Bookie
Selling options is more like running a bookie's book than playing the lottery.
Read articleBetter Covered Calls
Three small adjustments that turn a generic covered call into a much higher-edge trade.
Read articleButterfly Spreads
How butterfly option spreads use three legs to define risk and reward.
Read articleCost of Trading Stock
How commissions, spreads, liquidity, delays, and margin affect trading costs.
Read articleFind the Likely Direction
Combine volatility skew, put/call ratio and open interest to bias your trades.
Read articleOption Spreads
How vertical, horizontal, and diagonal option spreads work and what makes a spread attractive.
Read articlePicking Winning Stocks
Why a stock is not inherently more likely to rise than fall.
Read articleSignificance of Open Interest
What open interest measures and why it matters more than daily volume.
Read articleThe Cup is Half Full
Why the probability of a stock going up is equal to it going down, and what that means for traders.
Read articleThe Effects of Dividends on Option Prices
How dividends affect option premiums and calendar spread pricing.
Read articleTo Buy or to Sell?
How supply, demand, and option pricing affect a buy-or-sell decision.
Read articleTrading Dividends
The mechanics, risks, and potential returns of trading around ex-dividend dates.
Read articleWhat Makes a Good Covered Call?
How premium, time value, and downside risk shape covered-call selection.
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