Julia Spina and Mike Butler break down a real trade: one short strangle in the micro S&P futures, opened last December and rolled 13 times for a credit until it closed in September. Julia admits she was a rolling skeptic, since rolling can feel like propagating a directional bet and digging yourself into a hole. This trade changed her mind.
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Chapters
00:00 Julia and Mike in studio
00:45 Reacting to this morning's data
01:52 Perpetually rolling one position
03:03 Moving the trade to MES
04:19 Julia was a rolling skeptic
05:14 You need a directional lean
06:35 Rolling an in-the-money position
07:31 How the rolling works
08:30 13 rolls, all for credit
09:13 Every credit adds cushion
10:55 The core position idea
12:32 The breakevens mapped out
14:44 T...