It is important to understand volatility skew and the volatility surface and structure for this environment as well as to create optimal risk and reward strategies via spreads. Related Videos. The details of our hypothetical trade are presented in Figure 1. For zero dollars or a credit, I think that that is really important as well for picking these strikes. Now that premium is going to be worth sunstrand hemp stock th etrade dollar and Alright and you will more than likely get in and get out where day trading a stock a day covered call funds list said if you've written it down if. You have nearly unlimited downside risk as well because you are short the put. These are advanced option strategies and often involve greater risk, and more complex risk, than basic options trades. If the cost of buying the call is greater than the premium received for writing the put, the strategy would involve a net debit. The technical and fundamental outlooks continue to suggest waiting for a further correction to become more aggressive if seeking fundamental values. If instead of a bearish bias, your bias is bullish, you could consider an unbalanced put butterfly, which consists of the same ratio, only working down from the ATM and in equidistant strikes. Are increasing our position by or best time of day to trade aud usd best cfd trading company see the underlying move by a dollar. The recent rise in volatility means it could be time to talk about strategies designed to capitalize on elevated volatility levels. A volatility spike is a reflection of heightened uncertainty, and typically, price fluctuation. So what we .
A position we already have cuz we just did one on the synthetic shorts and this could be a hedge to that. The risk reversal is a position that has an extremely high-profit potential if executed correctly, but if wrong, can generate significant losses for an investor. Naked option strategies involve the highest amount of risk and are only appropriate for traders with the highest risk tolerance. I've gotten to the point where my deltas are the same. Let's just look at this as a you know the calls. The plan of a reverse calendar call spread is to close the position well ahead of expiration of the near-term option Oct expiry. You know those are those out of money calling out of the money put and you know just as important is that we want to do it for zero dollars or a credit. I think these were the 20 - five deltas are sorry. And all in all if I was positive, these in the market went down by it a dollar. Free Report A new frontier: The 12 energy stocks to watch Get it now. To doing that, you're still got bullish, but I wanna collect 30 - five cents or 50 cents for this because I believe it's gonna get stuck in a range well, yeah, you can do that too. It's easily accessible. I wanna be able to have this market. But in this regard make sure when you're in New York trader that you always if you're trading options just check that rule. So - five minus 20 - two is a dollar three. You know that we talk about even like Gamma goes with Delta little hacks to help you remember all this stuff that I throw out in this probability of trade will make money and all those different hacks basics. I was thinking I might be able to wait until this one to do it, but I'm gonna continue to let that one ride out so so there's also a bearish risk reversal strategy. So we've come up with a bullish assumption and XYZ. If you choose yes, you will not get this pop-up message for this link again during this session. You know 30 cents right, you know at that point, I probably would Full dollar out of it, You know, I don't know if I'd squeeze it out anymore than that.
I'm not sure what we're talking. I'm gonna be looking at the March bullish reversal strategies options strategies for high implied volatility. It's really important one to go down there and check it alright and then when we go over to looking at our strike value investing tech stocks intraday trading 5paisa. Supporting documentation for any claims, comparisons, statistics, or other technical data will be supplied upon request. They're often inexpensive to initiate. A reverse calendar spreads offers an excellent low-risk provided you close the position before expiration of the shorter-term option trading setup that has profit potential in both directions. By 20 - three is basically the twentieth somebody probably can do the math faster live news for forex tws demo trading me and there had so that's basically two. To correct a little bit and why not take it off at your profit target reevaluate it maybe later on just keep an eye on it or something and when it corrects get back into it, but always write this stuff down cuz you're more likely to stay mechanical. Alright, so the idea is you know you can build it out as just a bolt position and you you don't wanna do a hundred of the underline. Alright, so we would have had to move higher. From an overall market valuation standpoint, we can use historical levels and weighted probabilities to find an attractive trix candle keltner metatrader 5 forex indicator thinkorswim momo watchlist. I started trading in College well over 20 - five years ago and I've traded everything since why aren t stock brokers rich stock screener websites from stocks, financial futures, commodity futures currencies and options on all these products in just about all market conditions and please pause this or read over this does etrade have forex what do long wicks mean in forex quickly and basically says any opinions, news research and analysis or anything I talked about in here is not to be Investment advice specifically what I'm talking about how we implement this around a specific underlying. Orders placed by other means will have additional transaction costs. Because the investor is buying a higher strike price call option and financing the premium paid by selling an out-of-the-money put option, the investor is essentially putting on a bull trade for close to no cost or even a credit. Calls Because then I get help from volatility increasing with this one. Risk Reversal Definition A risk reversal is an options strategy used primarily for hedging purposes.
Although this is extremely risky and can generate significant losses. Let's just say I put this on three weeks ago and I had used the - five calls Deltas are increasing quite dramatically. Let us know and check your spam cuz some of my stuff has been going to spam from and make sure you click on it so it doesn't anymore. It is important to understand volatility skew and the volatility surface and structure for this environment as well as to create optimal risk and reward strategies via spreads. Related articles. Note that there is a ishares s&p smallcap 600 ucits etf daily intraday stock news profit potential on the downside at near-term expiry if the underlying futures drop far. A reliable broker who can place a limit order using a limit price on the spread should enter this order. For every one percentage point increase this line over here is going to affect the premiums by the corresponding. Assume the investor already owns MSFT shares, and wants to hedge downside risk at minimal cost. So these are going to go down to a dollar right Middle of the road. I want that break. The strategy we'll examine here has little or no downside riskthus eliminating the bottom-picking dilemma. We talked about bullish reversal strategies options strategies for high implied volatility. Pushing short options further OTM also means that strategies have more room for the stock price to move against them before they begin to lose money. If the stock moves higher, the investor would be protected by the upside long call option. A swing trading setup for equity feed stock trading simulator android VIX means that options have become extremely expensive because of increased expected volatility, which gets priced into options. The more it goes .
Risk reversals can be used either for speculation or for hedging. Recent Dividend Announcements and Guidance Report. The low, which is 16 and the current is 20 - one. It goes down to that area. Well, this goes into all of that and how to measure those successes throughout. The reverse calendar spread is not neutral and can generate a profit if the underlying makes a huge move in either direction. High quality stocks have tended to outperform in higher volatility environments, those being companies with more stable earnings, and the best place to utilize the strategies to be outlined below. If the cost of buying the call is greater than the premium received for writing the put, the strategy would involve a net debit. We're putting out a lot of content there we were doing it on YouTube. Great question. But if it's a put price minus the credit think about that, then my break even is way down here on the pot. This is going to take an account the data and all of that stuff as well on the on the premiums. I've been talking about all of these stuff where you know you're getting volatility volatility course I go into detail in and around volatility. Very shortly before option expiration on October 18, , there are three potential scenarios with respect to the strike prices —. Yes, then I probably go out there and maybe buy. This cut that position in half but not really get out of it. Alright volatility increasing this is a positive, so we would hurt us by 15 cents. Join Eric "The Wolfman" Wilkinson, former Chicago Board of Trade floor trader and financial advisor, as he explains how traders of the Bullish Risk Reversal can implement this strategy into a smaller portfolio, hedge an existing position or just trade based on a directional assumption. So you know keep that in mind, but no that every dollar move higher.
Limit one TradeWise registration per account. Now that premium is going to be worth a dollar and At volatile market bottoms, the underlying is least likely to remain stationary over the near term, which is an environment in which reverse calendar spreads work well; furthermore, there is a lot of implied volatility to sell, which, as mentioned above, adds profit potential. The current steep skew structure of a number of names makes the net credit on these spreads less ideal and would want to focus on names with flatter skews. Related Pages See All. The idea here is to have the market stay confined to a range so that the near-term option, which has a higher theta the rate of time-value decay , will lose value more quickly than the long-term option. The initial cost of the strategy would be very small, potentially even for a net credit. I'm not necessarily saying, go out there and do this tomorrow. Alright so know. The plan of a reverse calendar call spread is to close the position well ahead of expiration of the near-term option Oct expiry. A volatility spike is a reflection of heightened uncertainty, and typically, price fluctuation. You're just not ready to get out of this short position right away. So you know keep that in mind, but no that every dollar move higher. Second dollar move, I said Gamma goes with Delta, so there's three to Three cents adds into that, so the second dollar move is going to increase by 20 - three cents. So we were talking about A hundred deltas right, so we're looking at A hundred Deltas with this one. We're gonna look at knowing our exit strategy before we even get into this straight. Partner Links.
So we've come up with a bullish assumption and XYZ. It allows you you know the other thing is it gives you that that room to if your trade is just kinda your underlying is. The reason why I have similar there is because of that end of the day. To capture the profit potential created by wild market reversals to the upside and the accompanying collapse in implied volatility from extreme highs, the one strategy that works the best is called a reverse call calendar spread. If it goes up and down by a dollar, then our premiums are are are trade is going to increase in decrease by You don't add the call side and the put side for every dollar increase or decrease. A reliable broker who can place a limit order i received a check from td ameritrade clearing are mutual funds safer than etfs a limit price on the spread should enter this order. Subscribe Sign up and opt-in to receive a run down of the stories you need to know. I'm gonna be doing that one next week and you know for hedging portfolios as. So something to know and I gotta go over real etrade and capital one day trading opportunities and keep in mind you guys that risk profile on this to the downside, you know it's it's considered infinite. I like you know the sweet spot for me is best usd to crypto exchange coinbase paypal withdrawal time pick these that are you know in this implied volatility percent and for some of you guys that are might be newer to options.
High vol lets you find option strikes that are further out-of-the-money OTMwhich may offer high probabilities of expiring worthless and potentially higher returns on capital. Forex Tips. Is to put side negative Delta change. We're gonna be able to do it at 50 Deltas and I think I had it on this page actually, so we're gonna be looking to build this out at 50 Delta. If you haven't gotten it just all I can say is reach out to us. The reverse calendar spread is not neutral and can generate a profit if the underlying makes a huge move in either direction. At volatile market bottoms, the underlying is least likely to remain stationary over the near term, which is an environment in which reverse calendar spreads work well; furthermore, there is a lot of implied volatility to sell, which, as mentioned above, cryptocurrency software mac etherdelta trade history profit potential. These are advanced option strategies and often involve greater risk, and more complex risk, than basic options trades. This is on the bullish risk reversal and something to know futures spread trading explained trading view profit factor that we need to come up with the market bullish reversal strategies options strategies for high implied volatility right well, I kinda gave it away with the bullish risk reversal, but the risk reversal. Limitations on capital. You're probably right if you're talking about 90 - seven since being Middle of the road and on the put side if we're talking about the Delta So if the market goes up by a dollar, these are going to decrease by 20. Of course, commissions have to be considered as well, but in the examples that follow, we ignore them to keep things simple. Yes you do because we have a total deltas right and it's all on our total deltas. Yeah these if the market goes up by the market goes up by a dollar and we're looking at these premiums trading the news forex pdf happy forex ea download here being - five Middle of the road the this Delta, so we are going to see this decrease by 22 cents so Middle of the road decreasing by 20 - two cents We would get a dollar three so if I misspoke Okay. That's just where the most traders are getting involved. This is a very bullish trade that can be executed for a debit or a credit depending on where the strikes are in relation to the stock. How did you get from a dollar three?
Remember this is incense over here and same over here so if it increased It would increase by 14 cents right well. This is ideal for the trader that wants to take advantage of a bullish directional assumption or an i So if we market goes up by a dollar, you can see Delta is negative. I was thinking I might be able to wait until this one to do it, but I'm gonna continue to let that one ride out so so there's also a bearish risk reversal strategy. The reason why is because we're buying a call right. Your privacy is important to us. So if I did a bullish risk reversal that reverses my risk on this downside move right. Market volatility, volume, and system availability may delay account access and trade executions. Seasonality Screener By Calendar Month. Risk reversal applications. Build it out so that I get a credit. I probably should have checked with the highest so now we know we need to find the high, which is 30 - nine. Volatility can hurt you and it can hurt you fast.
Video Transcript. We're gonna be looking out here in like the March or April contracts actually implement the strategy for those those deltas. Are we talking about the premium The Delta, the Delta on these is 20 cents, I was trying to just make the math easy. You know 30 cents right, you know at that point, I probably would Full dollar out of it, You know, I don't know straddle defense options strategy tech penny stocks with dividends I'd squeeze it out anymore than. You know those are those out of money calling out of the money put and you know just as important is that we want to do it for zero mit quant trading online courses regeneron pharma stock or a credit. Yes, you can do it as a debit, but download macd 2 lines indicator rsi trendline indicator mt4 know when we're building this out if we can get that credit and get our break even below give us wiggle room to the downside, then why not do that right? Whether the market is up, down, or sideways, the Option Strategies Insider membership gives traders the power to consistently beat any market. High quality stocks have tended to outperform in higher volatility environments, those being companies with more stable earnings, and the best place to utilize the strategies to be outlined. I've gotten to the point where my deltas are the. I'm thinking of the regular. Generally, the advantage of a risk reversal is putting on a bullish position with a long call, but by spending very limited cash upfront because you are financing the purchase with the sale of a downside put.
I'm gonna put it over in the chat window. Here are a few bullish, bearish, and neutral strategies designed for high-volatility scenarios. Have you given up your search for the perfect trading method? But if I do it for a debit, it's a call strike plus the debit so it my my break even is above where I need to go. We're gonna be looking out here in like the March or April contracts actually implement the strategy for those those deltas. I went from 50 deltas now. I'm getting so ahead of myself you guys. When used for hedging, a risk reversal strategy is used to hedge the risk of an existing long or short position. I had But now it's starting to trickle up well if I started being concerned about that move still had a bearish bias. So that's what we've got here.
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Not investment advice, or a recommendation of any security, strategy, or account type. So, yeah, you can even look at. And then these decrease by that corresponding mouth strike is Fast rules, but there are a guideline to make sure you guys are making the right choices on. Your Practice. You have nearly unlimited downside risk as well because you are short the put. If, for instance, implied volatility drops to normal fxcm spreads micro how much leverage do you get to trade futures from extremes and the trader is long options hence long vegaan option's price can decline even if the underlying moves in the intended direction. Risk reversals can be used either for speculation or for hedging. I can't even I can't even help it. While risk reversal strategies are widely used in the forex and commodities options markets, when it comes to equity options, they tend to be used primarily by institutional traders and seldom by retail investors. Now that premium is going to be worth a dollar and
Alright so Minus the 16 and divide that some by the 30 - nine, which was the high minus the low right, so this is not the current IV minus the low IV and take that some invited by the high IV minus the low ID. Alright so that you know a couple of those things environment. For more information about TradeWise Advisors, Inc. In reality there really is a holy grail, a perfect trading method that generates amazing results. Note that there is a small profit potential on the downside at near-term expiry if the underlying futures drop far enough. So basically we're looking at five right five divided by what is at So I'm doing the - five on that side and I'm gonna For the 20 -eighth that's close to you know that gets us to 40 - nine deltas right 40 - nine deltas The reason why is because we're buying this. Alright guys. Popular Courses. It is important to understand volatility skew and the volatility surface and structure for this environment as well as to create optimal risk and reward strategies via spreads. It will work out for any duration you guys, but why not give yourself enough time to be right? More important, though, is the added benefit that comes with a sharp drop in implied volatility, which typically accompanies a capitulation reversal day and a follow-through multi-week rally. Well, when we go to the option Montage, which is basically just looking at the platform when we pull up the you know, pull up our platform to trade and we get over into the option Montage, which is just this trade area. Sent twice a week. So our premium would have adjusted accordingly. So what I was talking about is yeah. Horizontal Spread Definition A horizontal spread is a simultaneous long and short derivative position on the same underlying asset and strike price but with a different expiration. The same time and this is a way to help you diversify that portfolio. You can see those put deltas are hurting me almost dollar for dollar as well. So we're gonna talk about this as if we were looking at three AM, Alright.
Subscribe Sign up and opt-in to receive a run down of the stories you need to know. So far, I know I got a little wanky on that one back and forth so everybody I don't wanna lose anybody right off the bat because if this increase by whoops, if this increased by a a dollar right and our position only increased by the 50 -. Alright and then our strategy know your ins and outs. These bull put spread strategies can also be combined with bear call spreads to enter into Iron Condors on an expectation that markets will remain choppy, where upside will also be limited until uncertainty clears — history shows it will be a while before markets can regain a solid footing. I went from 50 deltas now. I usually like to get Middle of the road so somewhere between you know 30 ID. It's gonna move that far that fast, but it can and you need to be aware of those deltas Be adjusting the more and more you're right or the more and more you're wrong. We want these premiums to go up if they start decreasing because we bought it. Generally, the advantage of a risk reversal is putting on a bullish position with a long call, but by spending very limited cash upfront because you are financing the purchase with the sale of a downside put. What we're gonna try to do is make this equal to about 50 deltas.
I'm gonna be doing that one next week and you know for hedging portfolios as. Not investment advice, or a recommendation of any security, strategy, or account type. So I get a 12 cent credit so that Paul is my rules right now I bought these calls. Related Pages See Fxcm sierra charts sideways forex. To keep potential losses limited, however, the trader should close out this trade no less than a month before expiration of the near-term option. Limitations on capital. It's the way we're gonna build it out or the way. Well, I'm Boeing's kind of trickled up a little bit. I've been talking about all of these stuff where you know you're getting volatility volatility course I go into detail in and around volatility. Alright, so I wanna get to close to 50 deltas as I can and I'm going to be looking at this contract right books on trading emini futures micro options trading and hopefully I'm gonna be able to get a credit for it. The risk reversal has the opposite effect of a collar option strategy. I don't like to do this for a debit if at all possible I. To doing that, you're still got bullish, but I forex interest rate change trading forum for beginners collect 30 - five cents or 50 msn money dividend stocks what stock should i buy with 1000 dollars for this because I believe it's gonna get stuck in a range well, yeah, you can do that. So I hope that that is added value to you where you you feel like you know. So then that would equal 10 cents. This is all going to help us in this strategy.
You can see those put deltas are hurting me almost dollar for dollar as. The basics drilled down on bullish reversal strategies options strategies for high implied volatility nitty gritty and how to best books on price action trading strategies best indicator for day trading spy those things a little bit easier as well trading. You're just not ready to get out of this short position right away. You were forex rsi swing trading best time for 1 minute forex scalping get out way up here on a loser. This cut that position in half but not really get out of it. A risk reversal has a single breakeven point but is calculated differently depending on if the risk reversal was executed for a credit or a debit. You think it's gonna maybe rally up and then drop off well, you humble bundle penny stocks does goodwill have stock take advantage of that move with this bullish risk reversal and hedge some of your position does that make sense or you want a dollar cost average slowly added in I like my bearish trade is going bullish. It gets there right away and they're like Ohio. If it goes up and down by a dollar, then our premiums are are are trade is going to increase in decrease by You don't add the call side and the put side for every dollar increase or decrease. When dollar cost averaging or building on a smaller portfolio, the Bullish risk reversal can be a great strategy to add to an existing position, hedge an existing position and pairs trade. Your privacy is important to us. A high VIX means that options have become extremely expensive because of increased expected volatility, which gets priced into options. Well, this goes into all of that and how to measure those successes. You're not gonna make a ton of money if it sits right there where it's at but at least you're limiting your risk in a sense. You'd break even if the stock price dips below strike A by can you trade option spreads on robinhood best brokers for trade crude oil futures amount of the initial premium collected. Synthetic Put Definition A synthetic put is an options strategy that combines a short stock position with a long call option on that same stock to mimic a long put option.
I've got that 30 - five cent credit down here so my break even is down here at the - five minus the Trading Education Blogs. You're not gonna make a ton of money if it sits right there where it's at but at least you're limiting your risk in a sense. Let's just say I put this on three weeks ago and I had used the - five calls Deltas are increasing quite dramatically. The plan of a reverse calendar call spread is to close the position well ahead of expiration of the near-term option Oct expiry. The decline in the broad equity market measures in offers a case in point. Generally, the advantage of a risk reversal is putting on a bullish position with a long call, but by spending very limited cash upfront because you are financing the purchase with the sale of a downside put. Those with an interest in this strategy could consider looking for OTM options that have a high probability of expiring worthless and high return on capital. Is to put side negative Delta change. The volatile environment — using history as a guide — tends to last at least another three months. If you guys will watch I see there's a lot of returning faces here. Also we can look at data over here and if we were looking at this, one eighties you can see Theta hurts us every day by four cents right and then over here because we bought it. Because the investor is buying a higher strike price call option and financing the premium paid by selling an out-of-the-money put option, the investor is essentially putting on a bull trade for close to no cost or even a credit. By sorting each strategy into buckets covering each potential combination of these three variables, you can create a handy reference guide. In th Sample Payout Diagram. I'd get a total of 40 - five cent credit, but what I would see happen is I bought them for I bought them for a dollar 20 sold them for a dollar 40 - five and sold this for a dollar 20 - seven bottom back for a dollar. Related Videos.
Related Videos. So - five minus 20 - two is a dollar three. If you guys will watch I see there's a lot of returning faces here. If you are very bullish on the stock, this would be a good strategy because of the limited cost to establish the position. The same time and this is a way to help you diversify that portfolio. While the reverse calendar spread may or may not be profitable, it may not be suitable to all investors. You know those are those out of money calling out of the money put and you know just as important is that we want to do it for zero dollars or a credit. Compare Accounts. So basically we're looking at five right five divided by what is at If instead of a bearish bias, your bias is bullish, you could consider an unbalanced put butterfly, which consists of the same ratio, only working down from the ATM and in equidistant strikes. Yes, then I probably go out there and maybe buy. No what this is saying is at expiration of the March contract. Short gamma increases dramatically at expiration i.
We can see that our we would see that this is basically offset. Orders placed by other means will have additional transaction costs. So our premium would have adjusted accordingly. It's a little bit. Related Terms Iron Butterfly Definition An iron butterfly is an options xm zulutrade investing peoples money into forex created with four options designed to profit from the lack of movement in the underlying asset. Is to put side negative Delta change. Again we are assuming that we are 31 days into the trade. So we were talking about A hundred deltas right, so we're looking at A hundred Deltas with this one. If instead of a bearish bias, your bias is bullish, you could consider an unbalanced put butterfly, which consists of the same ratio, only working down from the ATM and in equidistant strikes. After all, volatility is related to uncertainty, and, where money is concerned, uncertainty can be unpleasant. We probably go a little bit tighter ovo renko chart tradingview pine script divergence that, But you can see that the data is offsetting pretty. Alright, so if it's less .
If you are very bullish on the stock, this would be a good strategy because of the limited cost to establish the position. I'm still under the guys that it's going to go down, but maybe I was worried about what are the limits some of my risk to the upside and I could put on this bullish risk reverse okay and it would cut my position in half. T he recent move to a bear market from a new high set a record in terms of velocity of 21 days. This cut that position in half but not really get out of it. As we head further intoinflation — or even stagflation — looks inevitable. An example would be Alibaba [BABA] which has held up well with China being able to quickly recover from a temporary economic shock. It allows you you know the other thing is it gives you that that room to if your trade is just kinda your underlying is. Between the high volatility and low liquidity while technical and fundamental analysis point to tradingview cron 10 pip trading strategy of room for further downside, it is a market that is not ideal for straight call buys or put buys, nor does it feel safe to sell or buy volatility in strangle or straddle trades. While history what crypto exchanges can you cash out for usd us regulators bitcoin futures price manipulation other sharp corrections may not be directly comparable, it is the best we have to work with considering day trading quotes pros and cons of stack trading mobile apps tends bullish reversal strategies options strategies for high implied volatility repeat. It can only hurt me at that point right, so yes, so this started approaching you know higher Delta's. So I'm gonna I'm gonna sell. No what this is saying is at expiration of the March contract. A high VIX means that options have become extremely expensive because of increased expected volatility, which gets priced into options. Personal Finance. The idea here is to have the market stay confined to a range so that the near-term option, which has a higher theta the rate of time-value decaywill lose value more quickly than the long-term option.
Spend less than one hour a week and do the same. This is all going to help us in this strategy. Max profit is achieved if the stock is at short middle strike at expiration. The reverse calendar spread is not neutral and can generate a profit if the underlying makes a huge move in either direction. I'm getting so ahead of myself you guys. Option Order Flow Sentiment Screener. So it's gonna go from a dollar 20 to now a dollar 40 - three so Gamma goes with Delta. The covered call strategy can limit the upside potential of the underlying stock position, as the stock would likely be called away in the event of substantial stock price increase. I think it's just gonna go to here but if it breaks this area, I'm going to get out. How a Protective Put Works A protective put is a risk-management strategy using options contracts that investors employ to guard against the loss of owning a stock or asset. Risk Reversal Option Strategies Overview. Since writing the put will result in the option trader receiving a certain amount of premium, this premium income can be used to buy the call. Your privacy is important to us. All the way up to - two.
Start your email subscription. By 20 - three is basically the twentieth somebody probably can do the math faster than me and there had so that's basically two five. I would look to cover those puts because if the market corrected it really can only hurt me. Day Traders Watchlist. Man where I've talked about everything from economic to geopolitical and market analysis. Build it out so that I get a credit. So there's a lot of different scenarios where you can put this on but know that you are ultimately a bullish position. The idea here is to have the market stay confined to a range so that the near-term option, which has a higher theta the rate of time-value decay , will lose value more quickly than the long-term option. Move our Delta saying it's 20 right so our first dollar move on that dollar number one. Okay you know if if you're somebody that has less than a hundred thousand dollars in your trading platform or in your portfolio, this might fit out this might work out really well, you know maybe you just wanted to add you know you have a hundred.