Let's review the skip-strike butterfly in PCLN from last week. You can find more on page 108 of The Options Playbook, which is always available on OptionsPlaybook.com, in on the Amazon Kindle edition. The long butterfly (used on the Costco paper trade) is on page 102.

Specifically:

• A review of last week
• A change of name
• Did you adjust?
• Was time on your side?
• Who is up next? Costco Holdings!
• What are we looking for?
• Putting on an at-the-money butterfly
• Selecting strikes
• What is the break even?
• Avoiding the "stupid award"

Do you have a question that you want answered on a future episode? Send them to Brian at [email protected], or to the Options Insider at [email protected].