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Jade Lizard Setup & Management

Options Jive

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.

Jade lizards are a slightly bullish strategy that take advantage of option skew. When structured correctly, they resemble a strangle with no upside risk.

To put on a jade lizard, sell an out of the money naked put and a call spread. Look for underlying’s that have recently sold off and have high implied volatility ranks.

To remove upside risk, ensure that the credit received is greater than the width of the call spread.

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