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Options
Options income, risk first
Options strategies explained from the risk side first: payoffs, assignment, early exercise and how much you can actually lose.
Options · Oct 23, 2026 · 7 minCovered calls, risk first: what you own, what you sell, what you can loseA covered call keeps nearly all of the stock's downside while capping the upside. Payoff table, breakeven, assignment, rolling, costs and a checklist.Options · Oct 23, 2026 · 7 minCash-secured puts, risk first: what you agree to buy and what it can costSelling a cash-secured put means promising to buy 100 shares at the strike. Payoff table, breakeven, assignment, gap risk, costs and a pre-trade checklist.Get an email when new guides and the micro E-mini playbook are published.
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