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

Specifically:

• A review of last week's trade
• What was the sentiment?
• What was the set up?
• What was the cost?
• What happened since we put on the trade?
• Rolling this into a short put spread
• Don't forget about volatility!
• How do we roll this?
• What is the new position?
• What is the cost?
• Beware of over trading