Options trading gets sharper the moment you understand volatility skew. Every strike on the chain carries its own implied volatility, and that difference is not random -- it tells you exactly what is cheap and what is expensive before you ever place a trade. This episode of Calculated Risk walks through put skew on the Dow Jones and call skew on AMD, and shows a live side-by-side comparison of a put spread versus a call spread at similar probabilities. The call spread pays significantly more. That is skew working in your favor, and it changes how you build every strategy going forward. Helpful links: tastylive: tastylive.com FREE tasytlive Newsletters: info.tastylive.com/newsletters FREE Options Strategy Guide: tinyurl.com/bp9ms763 Follow tastylive on X (Twitter): x.com/tastyliveshow CHAPTERS: 00:00 What is volatility skew and why every strike is different 01:07 Why out of the money puts carry higher IV than calls 01:39 The persistent demand for...