Tired of trying to find UNH cheese and just want out of the trap? In this episode, we break down a front spread, also known as a call ratio spread, built for traders who already own 100 shares of UNH and want options to, literally, get unstuck. By buying one 300 call and selling two 315 calls expiring Friday, March 6, 2026, the trade was placed for about a $1.00 net credit with UNH near 281.70. We explain the front spread logic, why it is considered covered, the payoff, and the fine print that m...
Jan 28, 2026•9 min•Ep. 461
HOST: Brian Overby, Options Playbook Here is a Monday trade and a Friday expiration trade. Open-Wing Butterfly in SPX with either 0DTE (Nov 10) or Friday Nov 14th Buy 1 SPXW Nov 10th 6785 Strike Call Sell 2 SPXW Nov 10th 6800 Strike Call Buy 1 SPXW Nov 10th 6805 Strike Call
Nov 11, 2025•13 min•Ep. 460
HOST: Brian Overby, Options Playbook Radio The OPR strategy today is an Open-Wing Butterfly Spread on AMZN ahead of the company's earnings announcement after the close today, Thursday, October 30th. BUY +1 AMZN 31 OCT 235 STRIKE CALL SELL -2 AMZN 31 OCT 245 STRIKE CALL BUY +1 AMZN 31 OCT 250 STRIKE CALL NET DEBIT $2.18
Oct 31, 2025•11 min•Ep. 459
Brian's latest actionable trade idea...a VIX butterfly! Trade Breakdown Butterfly spread entry with 1 buy and 2 sell orders VIX 22 OCT 25 AM options at strikes 15, 20, and 22 Call type with a debit order at 1.65 price Quantities: +1, -2, +1 respectively
Oct 02, 2025•10 min•Ep. 458
On this episode Brian breaks down a GLD Butterfly: GLD SPDR Gold Trust: $338.75 (up 3.09%), GLD Long Open-Wing Butterfly: Debit Mid $3.00 Leg 1: Buy to Open, 1, 2025-09-19, Strike 345.00, PUT Leg 2: Sell to Open, 2, 2025-09-19, Strike 339.00, PUT Leg 3: Buy to Open, 1, 2025-09-19, Strike 337.00, PUT Max Risk: $300 per 1x2x1 Spread Executed Max Reward: $300 per 1x2x1 O-W Butterfly Established
Sep 16, 2025•8 min•Ep. 457
Brian Overby is back with a great NVDA options play.
Aug 27, 2025•8 min•Ep. 456
On this episode, Brian talks about an SPX butterfly trade.
Sep 09, 2024•13 min•Ep. 455
We are pleased to welcome back Brian Overby and his popular Options Playbook Radio program. On this episode, Brian talks about his VIX modified butterfly trade.
Aug 30, 2024•15 min•Ep. 454
The Options Guy - aka Brian Overby - joins Mark in the Southern Studio at OIC 2024 to discuss: Skip strike butterfly adjustments Skip strikes vs. Fig Leaves 0 DTE options 24hr trading in stocks and options and much more...
May 15, 2024•22 min•Ep. 453
We are pleased to welcome back Brian Overby and his popular Options Playbook Radio program. On this episode, Mark and Brian answer your listener questions including: their thoughts on options trading holding up in 2023 their feelings on the pattern day trading policy trading VIX calls/spreads vs. VIX puts/spreads whether Chicago is still the mecca for trading options and much more.
Jan 02, 2024•45 min•Ep. 453
For this week's trade, Brian gets speculative with the United States Oil ETF (Ticker: USO). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Feb 28, 2023•16 min•Ep. 452
On this rare live Huddle episode, Mark and Brian answer your pressing questions about: 0 DTE trading in Apple and Meta The mysterious Super Bowl indicator Ratio put spreads "Covered" straddles Stock repair trades and much more...
Feb 21, 2023•34 min•Ep. 451
Brian begins this episode by looking at last's weeks trade which was a long call in SNAP. For this week's trade, he looks at a long call spread in Booking Holdings (Ticker: BKNG). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Feb 14, 2023•20 min•Ep. 450
Brian begins this episode by looking at last's weeks trade which was a Christmas tree butterfly in Apple (Ticker: AAPL). For this week's trade, he looks at a long call in SNAP. The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Feb 07, 2023•17 min•Ep. 449
For this week's trade, Brian looks at a Christmas tree butterfly in Apple (Ticker: AAPL). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Feb 02, 2023•18 min•Ep. 448
Brian and Mark huddle up to answer your options questions, including: Is it worth it to sell puts in 0 DTE options Why aren't there same day options for single stocks What are we looking forward to in the market this year What will be the hot options strategy for 2023 How far out do we go when selling a put in a single name stock as a way to buy the stock at a lower level And much more...
Jan 25, 2023•26 min•Ep. 447
Brian begins this episode by looking at last's weeks trade which was an iron condor in Delta Airlines (Ticker: DAL). For this week's trade, he does a FOMO (Fear Of Missing Out) trade in Delta Airlines (Ticker: DAL). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian o...
Jan 19, 2023•15 min•Ep. 446
Brian begins this episode by looking at last's weeks trade which was a SPX put butterfly trade. For this week's trade, he looks at an iron condor in Delta Airlines (Ticker: DAL). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Jan 12, 2023•29 min•Ep. 445
Brian begins this first episode of the new year by discussing the markets. Then he looks at a SPX put butterfly trade. The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Jan 04, 2023•19 min•Ep. 444
On this year-end show, Mark looks at the top Options Playbook Radio episodes of 2022. The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Dec 29, 2022•12 min
Brian and Mark huddle up to answer your options questions, including: Your most used options strategy in 2022 Favorite strategy to use with 0 DTE SPX options Will daily options expand to products like Apple or Meta Why does Brian like the Fig Leaf strategy Was it a good year for SPY put traders Trading resolutions for the new year With options should you trade what you know and speculate on what you don't And much more......
Dec 21, 2022•38 min•Ep. 443
On today's show, Brian reviews last week's trade of using options for year-end maintenance on your portfolio with a covered call in Amazon (Ticker: AMZN). Then he discusses getting bullish in SPX. The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @Brian...
Dec 15, 2022•14 min•Ep. 442
On today's show, Brian reviews last week's FOMO fig leaf trade in Walt Disney Company (Ticker: DIS). Then he discusses using options for year-end maintenance on your portfolio with a covered call in Amazon (Ticker: AMZN). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find B...
Dec 08, 2022•23 min•Ep. 441
On today's show, Brian does a FOMO fig leaf trade in Walt Disney Company (Ticker: DIS). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Nov 30, 2022•19 min•Ep. 440
On this episode, Brian and Mark Huddle Up to answer your questions about: "Daily" options trading What does Brian see on the horizon for the market? Impact of the FTX fiasco on the options market' Trading theta around holidays and earnings events Expiration Day Trading PFOF and much more...
Nov 25, 2022•34 min•Ep. 439
Brian begins the show by discussing last week's trade in which he sold a little vol premium in the VIX index (Ticker: VIX). For this week's trade, he is does an iron condor in SPY. The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Nov 17, 2022•16 min•Ep. 438
Brian begins the show by discussing last week's trade which was a long put spread in IWM (iShares Russell 2000 ETF). For this week's trade, he is selling a little vol premium in the VIX index (Ticker: VIX). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter...
Nov 10, 2022•18 min•Ep. 437
Brian begins the show discussing his bearish ratio butterfly trade last week in Amazon (Ticker: AMZN). Afterwards, he talks about doing a long put spread in IWM (iShares Russell 2000 ETF) for this week's trade. The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twi...
Nov 02, 2022•19 min•Ep. 436
Brian begins the show discussing his bottom fishing trade last week in A&T (Ticker: T). Afterwards, he does a bearish ratio butterfly in Amazon (Ticker: AMZN). The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsGuy@Invest.Ally.Com or to the Options Insider at Questions@TheOptionsInsider.com. You can also find Brian on Twitter at @BrianOverby....
Oct 26, 2022•17 min•Ep. 435
With the markets rocking and rolling, Brian begins the show making a neat adjustment the trade from last week which was a bullish call spread in the USO (United States Oil Fund). He adjusts the trade to a long call butterfly spread. Next, Brian goes bottomfishing in AT&T (Ticker: T) with a longer term options trade. The Options Playbook is available at OptionsPlaybook.com , or on Amazon . Do you have a question that you want to be answered on a future episode? Send it to Brian at TheOptionsG...
Oct 20, 2022•26 min•Ep. 434
