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Mike Butler dives into selling options with strategies like strangles and straddles and explains the process of rolling trades that go against him. He touches on the perception of risk with short premium trades, why buying power reduction is a decent gauge of real-time risk, and offers a few trade examples of his own that started off poorly but turned into profitable trades through mechanical rolling and defense.
Mike Butler is part of the exceptional customer support team at tastylive, and co-hosts Options Trading Concepts LIVE, where he is joined by Nick Battista and Katie McGarrigle to tackle live YouTube chat questions in real time. He gained popularity on the network from his beginner series, Mike and his Whiteboard, and has since hosted Where Do I Start: Back in the Game and has been a key content contributor to several of the educational courses in the tastylive Learn Center. Mr. Butler has also starred in various series about managing a trading portfolio, including Market Mindset, Trade Managers, and Everyday Trader.
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