Options Education8 min
How to Maintain a Delta-Neutral Options Portfolio
Introduction A delta-neutral portfolio is an options position where the total delta equals zero (or close to it), meaning the portfolio has no net directional…
Bernardo Rocha
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Options Education8 min
What Is a 1-Sigma Move in Options Trading?
Introduction A 1-sigma move (one standard deviation) in options trading refers to a price change the market expects to occur within a certain timeframe roughly…
Bernardo Rocha
Options Education7 min
What Is a Risk Reversal Options Strategy?
Introduction A risk reversal is an options strategy that combines a long out-of-the-money call with a short out-of-the-money put (or the reverse), creating a…
Bernardo Rocha
Risk Management8 min
What Happens If My Iron Condor Hits Max Loss?
Every iron condor has a maximum loss defined at the moment you enter the trade. That number is fixed, known, and does not change. This is one of the defining…
Bernardo Rocha
Iron Condor Strategy8 min
What Is Assignment Risk in Iron Condors?
Assignment risk is the possibility that an option holder will exercise their option, forcing you (as the option seller) into a stock or cash position you…
Bernardo Rocha
Iron Condor Strategy9 min
How Theta Decay Benefits Iron Condor Sellers
Theta decay is not an edge in itself — it's a mechanism. The edge comes from understanding how that mechanism works in an iron condor and positioning correctly…
Bernardo Rocha
Options Education8 min
What Are 0DTE Options and Are They Worth the Risk?
0DTE options — zero days to expiration — are options that expire on the same day they're traded. They've grown from a niche tool used by experienced traders…
Bernardo Rocha
Iron Condor Strategy8 min
Iron Condor on SPX: Why It's the Most Popular Underlying
SPX options are the most actively traded options in the world, and iron condor traders have a specific set of reasons to prefer them over alternatives like…
Bernardo Rocha
Market Conditions8 min
How to Use the Expected Move in Options Trading
The expected move tells you, based on current options pricing, how far the market expects an asset to move by a given expiration date — in either direction. It…
Bernardo Rocha
Market Conditions8 min
What Is IV Crush and When Does It Happen?
IV crush is the sharp decline in implied volatility that occurs immediately after a major anticipated event — such as an earnings announcement, Fed decision,…
Bernardo Rocha
Options Education8 min
What Is a Neutral Options Strategy?
What Is a Neutral Options Strategy? A neutral options strategy is one that profits when the underlying asset stays within a defined price range — not when it…
Bernardo Rocha
Options Education8 min
How to Read an Options Payoff Diagram
What Is an Options Payoff Diagram? An options payoff diagram — also called a profit and loss diagram or P&L chart — is a visual map of how an options position…
Bernardo Rocha