When should you buy premium and when should you sell it? Mike Butler says the answer depends entirely on where the stock is, how much time you have, and how much variance you can withstand. Nike is at decade lows so he bought a January 2028 LEAP at the $60 strike instead of selling a short-term put. The stock could keep falling. He would rather own the optionality with lower near-term IV than take on unlimited downside for $100 credit. The sweet spot for selling premium is the 30 to 60 day window where implied volatility value and time value create the best blend. For buying premium, go 90 days out or further. His MES year-long position started with 93 points in credit and has been manipulated up to 700 points. That flexibility is what undefined risk gives you when you size correctly. 📊 tastylive: tastylive.com 📰 Get Tom Preston's pre-market analysis every morning: tastylive.com/newsletters 📘 FREE Options Strategy Guide: tinyurl.com/bp9ms763 📱 Fol...