In this episode of Options Playbook Radio we are covering a put butterfly spread. You can find this on page 104 of The Options Playbook, on OptionsPlaybook.com, or in the Amazon Kindle version.

Brian covers:

• A review of the last few weeks
• What happened at the OPEC meeting?
• What resulted in the market?
• Butterflies like time decay and decreases in volatility - IF you are correct on your forecast
• Where is MRO now?
• What does that mean for our positions?
• What could happen next?
• Don't discount volatility
• Setting up a new trade in the S&P 500 Index
• Picking strikes and expiration date (it's a Monday!)