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Strategies Checklist

This document provides checklists for various options trading strategies including: - Buying options with a low IV rank, more than 45 days to expiration, and greater than 0.70 delta - Vertical spreads including bullish and bearish call spreads and put spreads - Debit spreads including call debit spreads and put debit spreads - Credit spreads including call credit spreads and put credit spreads - Iron condors targeting high IV rank and neutral predictions - Calendar spreads targeting low IV rank - Covered calls for neutral to slightly bullish positions Each checklist provides guidelines on parameters like IV rank, expiration date, strike prices to target for the given strategy.

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PIYUSH PANDEY
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154 views

Strategies Checklist

This document provides checklists for various options trading strategies including: - Buying options with a low IV rank, more than 45 days to expiration, and greater than 0.70 delta - Vertical spreads including bullish and bearish call spreads and put spreads - Debit spreads including call debit spreads and put debit spreads - Credit spreads including call credit spreads and put credit spreads - Iron condors targeting high IV rank and neutral predictions - Calendar spreads targeting low IV rank - Covered calls for neutral to slightly bullish positions Each checklist provides guidelines on parameters like IV rank, expiration date, strike prices to target for the given strategy.

Uploaded by

PIYUSH PANDEY
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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STRATEGIES CHECKLIST

Strategies Checklist

v All of the strategies listed here are defined risk


trades. Your profit and loss will be defined from
the start.
v Use this guide in conjunction with your trading
plan

2
Buying Options

v Low IV Rank
v More than 45 DTE
v Greater than .70 Delta

3
Vertical Spread Cheat Sheet
Spreadtacular!
Bullish Bearish

Call Debit Spread Call Credit Spread

CALL CALL
Buy an ITM Call + Sell an OTM Call Sell OTM call + Buy OTM call at higher strike price.
Reduces cost basis, lowers break even Caps Losses, Lowers BP Reduction

Bearish Bullish
Put Debit Spread Put Credit Spread

PUT
Buy ITM Put + Sell OTM Put
Reduces Cost Basis, Raises breakeven
Sell OTM Put + Buy OTM Put at lower strike price
Caps Losses, Lowers BP Reduction
PUT
4
Call Debit Spread Checklist

v Low IV Rank + Bullish Prediction


v Gauge Your Expiration
v Buy 1st ITM Call + Sell OTM Calls
v For a low risk trade, sell the 1st higher call
v If you have higher price targets, cascade into
the higher strike prices.

5
Put Debit Spread Checklist

v Low IV Rank + Bearish Prediction


v Gauge Your Price Target to Expiration
v Buy 1st ITM Put+ Sell OTM Puts
v For a low risk trade, sell the 1st lower put
v If you have lower price targets, cascade into the
lower strike prices.

6
Call Credit Spread Checklist

v IV Rank Above 40 + Bearish or Nuetral


v Analyze Risk
v Sell OTM Call + Buy Higher OTM Call
v Looking for between 2:1 to 4:1 Risk/Reward
v Widen the strikes to reduce the amount of
contracts bought and increase RoC.

7
Put Credit Spread Checklist

v High IV Rank + Bullish or Neutral


v Analyze Risk
v Buy OTM Put+ Sell Lower OTM Put
v Looking for between 2:1 to 4:1 Risk/Reward
v Widen the strike to reduce the amount of
contracts bought

8
Iron Condor Checklist

v High IV Rank + Neutral Prediction


v Analyze Risk w/ IC Chart
v Sell Put & Call Spread
v Looking for between 2:1 to 4:1 Risk/Reward
v Widen the strikes to reduce the amount of
contracts bought and increase credit received

9
Calendar Spread Checklist

v Low IV Rank
v Sell Front Month + Buy Back Month
v Neutral Strat = Buy ATM Calls or Puts
v Bullish = OTM Calls
v Bearish = OTM Puts
v Close the position when the Front Month
expires or when 50% of profit has been made.
10
Covered Call Checklist

v Neutral to Slightly Bullish Prediction


v A substitute for buying stock outright
v Buy Stock + Sell 1SD OTM Calls.
v Decreases Cost Basis + Increase Prob of
Success

11

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