Mike Butler walks through a live trade of the day in Micron using a Super Bowl setup. Instead of a plain short put spread, he sells a put spread to finance a long call spread, so the whole position goes on for a small credit. If Micron stays in the range he keeps that credit, and a rally into the call spread pays far more than a short put spread could.
He explains why he likes a long standing support area for the short strikes, how deep liquidity fills him quickly, and why the trade should move fast since the put spread bleeds value while the call spread gains on a rally. Mike is not chasing max profit, just a quick pop to take it off. This is education, not a recommendation.
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Chapters
00:00 A new trade of the day in Micron
00:46 Building the Sup...