Brian's latest actionable trade idea...a VIX butterfly!

Trade Breakdown

• Butterfly spread entry with 1 buy and 2 sell orders

• VIX 22 OCT 25 AM options at strikes 15, 20, and 22

• Call type with a debit order at 1.65 price

• Quantities: +1, -2, +1 respectively

On this episode Brian breaks down a GLD Butterfly:

GLD SPDR Gold Trust: $338.75 (up 3.09%),

• GLD Long Open-Wing Butterfly: Debit Mid $3.00
• Leg 1: Buy to Open, 1, 2025-09-19, Strike 345.00, PUT
• Leg 2: Sell to Open, 2, 2025-09-19, Strike 339.00, PUT
• Leg 3: Buy to Open, 1, 2025-09-19, Strike 337.00, PUT
• Max Risk: $300 per 1x2x1 Spread Executed
• Max Reward: $300 per 1x2x1 O-W Butterfly Established

Brian Overby is back with a great NVDA options play.

On this episode, Brian talks about an SPX butterfly trade. 

We are pleased to welcome back Brian Overby and his popular Options Playbook Radio program. 

On this episode, Brian talks about his VIX modified butterfly trade. 

The Options Guy - aka Brian Overby - joins Mark in the Southern Studio at OIC 2024 to discuss:

• Skip strike butterfly adjustments
• Skip strikes vs. Fig Leaves
• 0 DTE options
• 24hr trading in stocks and options
• and much more...

We are pleased to welcome back Brian Overby and his popular Options Playbook Radio program. 

On this episode, Mark and Brian answer your listener questions including:

• their thoughts on options trading holding up in 2023
• their feelings on the pattern day trading policy
• trading VIX calls/spreads vs. VIX puts/spreads
• whether Chicago is still the mecca for trading options
• and much more.

For this week's trade, Brian gets speculative with the United States Oil ETF (Ticker: USO). 

The Options Playbook is available at OptionsPlaybook.com, or on Amazon.

Do you have a question that you want to be answered on a future episode? Send it to Brian at [email protected] or to the Options Insider at [email protected]. You can also find Brian on Twitter at @BrianOverby.

On this rare live Huddle episode, Mark and Brian answer your pressing questions about: 

• 0 DTE trading in Apple and Meta
• The mysterious Super Bowl indicator
• Ratio put spreads
• "Covered" straddles
• Stock repair trades
• and much more...

Brian begins this episode by looking at last's weeks trade which was a long call in SNAP. For this week's trade, he looks at a long call spread in Booking Holdings (Ticker: BKNG).

The Options Playbook is available at OptionsPlaybook.com, or on Amazon.

Do you have a question that you want to be answered on a future episode? Send it to Brian at [email protected] or to the Options Insider at [email protected]. You can also find Brian on Twitter at @BrianOverby.