Options trading education: extrinsic value is your widget as a premium seller. Dr. Jim Schultz builds extrinsic value awareness by walking through the exact tradeoff at every delta. A 5-delta put has a 95% probability of profit but pays almost nothing for unlimited risk. A 44-delta put collects a fat credit but drops the probability to 63%. Between them is the sweet spot. Jim likes the 25 to 35 delta range because it balances probability and credit, gives meaningful compensation for the undefined risk, and leaves room for management if the trade moves against you. Plus why the probability of profit on a short option is always above 50% no matter the strike, because extrinsic value acts as a shield. 📊 tastylive: tastylive.com 📰 Get Tom's pre-market analysis every morning: tastylive.com/newsletters 📘 FREE Options Strategy Guide: tinyurl.com/bp9ms763 📱 Follow tastylive on X: x.com/tastyliveshow Chapters 00:00 Extrinsic value is your widget as...