Options Workshop

Setting Up a "Delta Buster"

Options Workshop

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

Liz and Jenny close the DIA ZEBRA (Zero Extrinsic Back Ratio) because it is expiring.

They land on a "delta buster" to replace the DIA short delta for the next cycle. The delta buster is buying an OTM put spread and financing it with a short OTM call spread.

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