Options Jive

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The State of Skew

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.

Using delta (∆) to refer to your strangle strikes is an all-in-one solution that normalizes a stock’s price and implied volatility and gives you a risk profile based on probability of profit (POP).

A 16∆ strangle in X has the same POP as a 16∆ in TSLA.

The difference between the two strangles is the risk/reward which is determined by the raw premium you collect for each strangle.

Tune in as Tom and Tony unpack this information further and apply it to today's market.

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