Field notes on selling options systematically.
The decisions inside every cash-secured put trade: underlying, strike, days to expiration, sizing, and what happens after entry, with a worked example.
Delta, theta, vega, gamma and rho explained in plain terms from a put seller's perspective, with concrete examples and why a single score still helps.
A plain-English introduction to options for income-focused traders. Calls, puts, strike, expiry, premium, explained from a seller's perspective from line one.
Russell Sage brought puts and calls to Wall Street in 1872 and was known as the Father of Puts and Calls. In the panic of 1884 he lost $7 million and never traded them again.
High premium is easy to find. Telling a genuinely rich contract from one that only looks rich is the hard part. Three cases where the headline number misleads.
In April 1993 Berkshire sold puts on Coca-Cola and collected $7.5 million. The contracts expired, not one share was bought, and that was the trade working exactly as designed.
Moving beyond gut-feel strike selection. A framework for systematic cash-secured put selling: universe, timing, strike, and what happens after entry.
Probability of Profit for short puts: what it measures, how it relates to delta, why a high POP can still lose money, and how to read it sensibly.
A seller-focused explanation of IV Rank: what implied volatility measures, why ranking it normalises across stocks, and how to read it without over-trusting it.