Three viewer questions on Confirm and Send, and one idea ties them together. First: the super bear, a four-leg structure that shorts a call spread above the market to help pay for a put spread below, so you can be bearish without bleeding theta. Chris walks when it beats a plain put spread, but Tom Preston's answer cuts through it: there is nothing magical about a super bear or a put spread, it all comes down to how much theta and delta you are generating. If a two-leg put spread gives him the same short delta and theta, he takes the simpler trade.
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Chapters
00:00 Building a super bear
00:34 When it beats a put spread
01:40 Setting it for a small credit
02:30 It all comes down to theta and delta
03:20 Comparing it to a simple put spread
04:12 Low-...