We are going to look at a backspread with puts this week. You can find that on page 87 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.

Today, Brian discusses:

• A review of the MRO covered call from last week
• Making an adjustment based on new outlook
• Walgreens, which is merging with Rite-Aid, has earnings coming up
• What can we do with that? A backspread with puts
• What is the outlook?
• Setting up the trade
• What is the risk? Reward?
• How to stay out of the valley of death

Do you have questions that you would like answered on the show? Send them to Brian at [email protected]