Options Boot Camp 402: Double Calendars and the Fall of Constantinople
Summary
Host Mark Longo and guest Daniel Passarelli discuss double calendar spreads, explaining their construction as strangle swaps and optimal entry/exit timing. They address listener questions on selling cash-secured puts versus covered calls, navigating extreme earnings volatility, and scaling positions. The episode also examines the growing popularity of weekly SPX options and whether traders are sacrificing edge for frequency.
Topics discussed
Intro, Education Wednesday, and Pro Q&A recap
Guest intro: Dan Passarelli and Byzantine history
July Pro Trading Crate winner announcement
Deep dive: Double Calendar spreads and strangle swaps
Mail call: SPY highs and cash-secured puts vs covered calls
Earnings reactions and trading time spreads
Buying options into earnings: Ford trade example
Scaling into positions and SVIX trade example
Weekly SPY options and zero-day expiration trends
Outro, book promotion, and upcoming show schedule
Listen ad-free on Castria