DeFi University

7 modules · 39 lessons · about 26 hours

Options: The Tastytrade Mechanical Approach

Master calls, puts, and defined-risk spreads on US listed equity and index options and Deribit BTC and ETH options, testing the mechanical approach tastylive documents. Work max profit, max loss, and breakevens with assignment as OCC describes it.

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Module 1: The contract

  1. 1What an option is10 minExercise
  2. 2Calls8 minExercise
  3. 3Puts8 minExercise
  4. 4Who pays whom: premium, credit and debit8 minExercise
  5. 5Intrinsic and extrinsic7 minExercise
  6. 6Moneyness and put-call parity8 minExercise
  7. 7Exercise and assignment9 minExercise
  8. 8American and European9 minExercise
  9. ?Module 1 quiz

Module 2: The price

  1. 9Implied volatility and realized volatility10 minExercise
  2. 10IV rank and IV percentile8 minExercise
  3. 11The expiration calendar, and 0DTE as a different product9 minExercise
  4. 12The multiplier and the quote8 minExercise
  5. ?Module 2 quiz

Module 3: Greeks

  1. 13Delta8 minExercise
  2. 14Gamma9 minExercise
  3. 15Theta8 minExercise
  4. 16Vega8 minExercise
  5. 17Rho, and the Greeks this course will not use8 minExercise
  6. 18Netting Greeks on a spread9 minExercise
  7. ?Module 3 quiz

Module 4: Undefined risk

  1. 19Long call and long put9 minExercise
  2. 20Covered call and cash-secured put9 minExercise
  3. 21Naked short call and naked short put8 minExercise
  4. 22The short strangle8 minExercise
  5. 23The short straddle8 minExercise
  6. ?Module 4 quiz

Module 5: Defined risk

  1. 24Credit verticals8 minExercise
  2. 25Debit verticals8 minExercise
  3. 26The iron condor8 minExercise
  4. 27The iron fly10 minExercise
  5. 28Calendars and diagonals10 minExercise
  6. 29Condors worked: uneven wings, contract count, and coin premiums10 minExercise
  7. ?Module 5 quiz

Module 6: The mechanical book

  1. 30Occurrences, not a forecast10 minExercise
  2. 31About 45 DTE10 minExercise
  3. 32One-third of the width9 minExercise
  4. 33Close at 50% of max profit9 minExercise
  5. 34The untested side9 minExercise
  6. 3516 delta and 21 DTE9 minExercise
  7. ?Module 6 quiz

Module 7: What breaks

  1. 36Expiration can become stock9 minExercise
  2. 37Events, skew, and earnings10 minExercise
  3. 38Size10 minExercise
  4. 39The paper ticket9 minExercise
  5. ?Module 7 quiz