Episode Summary:

With practical examples and 30 years of trading experience, Dan breaks down how delta works, why traders often misinterpret theta, and how cash-secured puts and covered calls use volatility pricing to your advantage.

In This Episode, You’ll Learn:

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Episode 13 – The Golden Age of Options: A Conversation with Steven Sears

In this episode of Wealth Building With Options, Dan Passarelli sits down with one of the most influential voices in the options world—Steven Sears. A former senior editor at Barron’s, senior advisor to the Philadelphia Stock Exchange, and a key figure in the rise of electronic options trading, Sears brings decades of front-line experience and deep insight into how options can transform a portfolio.

In this wide-ranging and insightful conversation, you’ll discover:

Whether you're new to options or looking to sharpen your edge, this episode will challenge your assumptions, reframe your strategy, and inspire confidence in a smarter, steadier approach to building wealth.

Listen now and hear how Steven Sears sees the evolving landscape—and how you can thrive in it.

For more information about Dan Passarelli join him on Substack at https://wealthbuildingwithoptions.substack.com

Options Disclosure:

Options involve risk and are not suitable for all investors. Prior to buying or selling an option, you must receive a copy of Characteristics and Risks of Standardized Options, also known as the options disclosure document (ODD). It is available at https://www.theocc.com/Company-Information/Documents-and-Archives/Options-Disclosure-Document.

Episode Summary:

In this episode, Dan Passarelli breaks down a powerful trading concept: using cash-secured puts as a smarter, more strategic version of limit orders. If you've ever hesitated about assignment or second-guessed a put trade, this episode is for you.

Dan shares real-world stories (including a Vegas twist involving a mastermind event that… wasn’t) and psychological lessons from 7,000+ trading days. He explains why assignment shouldn’t be feared, how premium collection changes the math on your trade entries, and how traders often let emotion sabotage what could be great opportunities.

Later, Dan welcomes back John Kmiecik, a trading coach who’s worked with hundreds (maybe thousands!) of students on mastering this mindset. Together, they explore:

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In this episode, Dan dives into a powerful but often misunderstood options strategy: the cash-secured put. Often considered the sibling of the covered call, this strategy blends the best of investing discipline with the premium-collecting power of options trading.

Dan brings on options coach John Kmiecik to talk about:

Paid subscribers get access to:

Subscribe on Substack at:

“Cash-secured puts aren’t just trades — they’re a mindset shift. They’re how investors say, ‘I’ll buy the stock… but only at my price.’”

Before Investing in Options download Characteristics and Risks of Standardized Options https://www.theocc.com/getmedia/a151a9ae-d784-4a15-bdeb-23a029f50b70/riskstoc.pdf

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Welcome back, Wealth Builders! In this episode, Dan Passarelli takes a deep dive into why covered calls continue to outperform the market over time—but only when done right. If you've ever wondered what gives covered calls their edge, this is your episode.

“The price one can sell an option for is greater than the value it adds. That’s the whole magic of covered calls.” – Dan Passarelli

Leave a review on Apple Podcasts, Spotify, or wherever you listen.

And we’ll send you Dan’s Covered Call Strategy Guide for free!

Don't miss Episode 10 with a very special surprise guest—someone with game-changing insight into options trading that you won’t want to miss.

Until then...

In this eye-opening episode, Dan Passarelli challenges the common misconceptions surrounding covered calls. While most traders focus on “why” covered calls work, Dan flips the script and digs into the false narratives and misguided logic that lead investors astray.

Dan explains why some of the most popular justifications for trading covered calls are intellectually lazy—and how overlooking key factors like option pricing models and probability curves can lead to missed opportunities or unnecessary losses.

This episode lays the foundation for next week’s deeper dive into the true reason covered calls work.

You’ve been misled: Many reasons given for why covered calls "work" are based on flawed logic, not solid data.

Probability ≠ Profit: High-probability trades don’t always equal good trades—context and pricing matter.

The 3 flawed logics covered call traders often fall into:

The premium isn’t worth the risk.

Assignment means “losing money.”

Covered calls always add value, so trade them blindly.

What really matters: Understanding the options pricing model, probability curves, and the indifference point.

Analogy alert: Dan compares covered calls to buying a car—price must reflect value or the deal isn’t worth it.

Guest Insight: Henry Schwartz of Cboe Global Markets joins to share data-backed insights into how buy-write strategies are used and who’s trading them.

Log-normal distribution curves and probability modeling

Indifference point explained with a $119/$122 call example

Options pricing mechanics: volatility, time, interest rates

How pricing impacts strategy effectiveness

Leave a review for the podcast on Apple Podcasts, Spotify, or your preferred platform.

Connect with Henry Schwartz and Cboe Global Markets at cboe.com

In this special Thought Leader Series episode of Wealth Building with Options, host Dan Passarelli sits down with longtime friend and industry veteran Greg Stevens, Vice President of Options Strategy at Fidelity Investments.

With nearly 30 years of experience across firms like Charles Schwab, the CBOE, and now Fidelity, Greg shares how the options trading landscape has evolved and why education remains the cornerstone of trading success. From the early days of dial-up trading to today's powerful digital platforms, Greg and Dan explore how strategy, risk management, and planning shape trader outcomes.

This episode is packed with real talk on covered calls, cash-secured puts, credit spreads, investor mistakes, how Fidelity supports options traders—and why having a trading plan matters more than ever.

“Even a bad plan is better than no plan at all. You can adjust a bad plan—but you can’t fix what doesn’t exist.”

If you enjoyed this episode, please subscribe, leave a review, and share it with fellow traders looking to level up their options game. Subscribe on your favorite podcasting platform or on https://wealthbuildingwithoptions.substack.com

Episode Summary: In this meaty episode of Wealth Building with Options, host Dan Passarelli breaks down one of the most powerful strategies for investors—covered calls. Whether you're a beginner looking to understand the basics or an experienced investor searching for new insights, this episode dives into the mechanics of covered calls, why they work, and how to use them effectively to enhance portfolio performance.

Dan explains the key principles behind covered calls, including risk management, profit potential, and why this strategy remains a staple for successful investors. He also discusses real-world applications, shares a practical covered call example, and introduces the importance of risk graphs (P&L diagrams) for visualizing potential outcomes. Plus, Dan highlights how covered calls can be modified and adapted to fit different investing styles, including conservative long-term wealth-building and active trading approaches.

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Dan also encourages listeners to help grow the Wealth Building with Options community by leaving a review and subscribing to the show. As a special incentive, listeners who post a review and submit proof on social media with the hashtag #WBWO will receive a free Covered Call Strategy Guide via the podcast’s Substack page.

Exclusive Subscriber Benefits: Paid subscribers receive bonus video content, detailed trade breakdowns, and access to a monthly Ask Me Anything (AMA) session. Join at wealthbuildingwithoptions.substack.com for in-depth resources and direct engagement with Dan and his team.

What’s Next? This episode is the first part of a two-episode series on covered calls. The next installment, Episode 7: Why Covered Calls Work, will explore the deeper reasoning behind this strategy, including statistical advantages, behavioral finance insights, and how institutions use covered calls to outperform the market.

Subscribe & Stay Updated! Never miss an episode—subscribe to Wealth Building with Options on your favorite podcast platform.

Disclaimer: Options involve risk and are not suitable for all investors. Before buying or selling an option, read Characteristics and Risks of Standardized Options https://www.theocc.com/getmedia/a151a9ae-d784-4a15-bdeb-23a029f50b70/riskstoc.pdf

Episode Summary: In this episode of Wealth Building with Options, host Dan Passarelli explores the foundational concepts of options trading. Using relatable analogies, Dan breaks down the mechanics of options, explaining calls, puts, and their practical applications. Additionally, he discusses how options function as financial tools for risk management, investment growth, and wealth protection.

Special guest John Kmiecik, Head Coach at Market Taker Mentoring, joins the conversation to share his insights from years of experience working with traders. Together, Dan and John dive into the psychology of trading, the advantages of selling premium, and why many traders transition from buying options to selling them. They also touch on the importance of developing consistent trading habits and how covered calls and cash-secured puts can serve as powerful strategies for investors.

Key Topics Discussed:

Understanding Options Through Analogies: Comparing options to insurance, gas price guarantees, and even pizza coupons.

Defining Calls and Puts: Explanation of how each type of option works and how they can be utilized by traders.

Options as Financial Contracts: Exploring how options serve as tools for hedging risk, leveraging investments, and increasing portfolio efficiency.

Common Misconceptions About Options Expiration: Understanding statistics around exercised, expired, and closed options.

The Psychology of Options Trading: How trader mindset affects decision-making and success.

Why Selling Options is a Popular Strategy: Examining the benefits of selling premium for generating income and managing risk.

The Importance of Habit Formation in Trading: How discipline and repetition lead to better financial outcomes.

Preview of Future Episodes: A look ahead to covered call strategies and their wealth-building potential.

Guest Spotlight: John Kmiecik John Kmiecik, the Head Coach at Market Taker Mentoring, has extensive experience educating traders. With a background that includes working with Goldman Sachs and a hedge fund, John has helped thousands of traders develop strategies for long-term success. In this episode, he shares insights on the advantages of selling premium and the importance of understanding both sides of the options market.

Actionable Takeaways:

Start viewing options as financial contracts that can be leveraged for portfolio growth and risk management.

Consider the advantages of selling options as part of your trading strategy.

Focus on habit formation to build consistency in trading.

Stay tuned for the next episode, which will cover covered call strategies in depth.

Resources Mentioned:

Market Taker Mentoring: MarketTaker.com

Characteristics and Risks of Standardized Options: https://www.theocc.com/getmedia/a151a9ae-d784-4a15-bdeb-23a029f50b70/riskstoc.pdf

Subscribe & Stay Updated! Never miss an episode—subscribe to Wealth Building with Options on your favorite podcast app. Episode 6 will cover covered call trading and how it can help investors generate wealth faster.