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How Mike Butler Is Trading The Market Crash With a Super Bull
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Chapters6 segments · tap to seek
ticker lesson
Breakdown
0:00SPX· ticker
S&P 500 — 135 point selloff, 2% E-Mini drop
- Market sell-offs in indices
- S&P 500 135 point selloff
- 7400 7390 November buy
- 7920 7935 November buy
- 15 point wide call spread
1:55SPX· ticker
S&P 500 — 15 point wide call spread, 40 cent credit
- 10 point wide put spread sold
- 40 cent credit collected
- Positive gamma reversal trade
- 100 point rally = couple hundred winner
- Call skew in equities
3:48SPX· ticker
S&P 500 — 200 point rally, 15% IV, 7700 strike
- 200 point rally to 7700
- 5% V crush
- 250 Theo winner
- VIX backwardation
- 2060 X contract, 1970 Z contract
5:44SPX· ticker
S&P 500 — backwardation, 20% VIX pop
- Backwardation signals turbulence
- Continued sell-off possible
- Contango = small corrections
- S&P 500 backwardation rare
- Defined risk sizing
7:43Intel· ticker
Intel — 90 strike put, 93 delta, assignment risk
- 90 strike put deep in the money
- 3040 cents extrinsic value
- 93 delta, 30 cents intrinsic
- 150 premium collected
- Buying power requirement $3,000
9:57Intel· ticker
Intel — short put assignment, resell strategy
- Short put assignment risk
- Close shares, resell put
- Keep shares with $1,000 extra
- Assignment rare in trading career
- Resell put if assigned
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