Options Boot Camp

Basic Training: Alternative Income Strategies: Writing covered straddles vs. covered calls. What are the benefits of writing covered straddle vs. calls? What are the drawbacks? Remember your synthetics: Covered straddle = short two puts. Some additional pros and cons of this strategy. Mail Call: Listeners Take the Mic Comment from Ronald Yuravich: I heard your podcast of the Option Boot Camp episode talking about straddles. I don't like straddles because I would have a gain on one side, but it didn't cover the loss on the other side. I prefer strangles better, but only when vol is high, like in 2008. On September 15 I placed a trade on XOM after I got home from work that would be placed for the opening of the next day. I bought 3 JAN 09 90.00 strike calls and I bought 2 JAN 09 45.00 strike puts. XOM was trading around 65.00 a share at that time. The next morning when the markets had opened, I checked to see if my trades were placed, and they were. I was watching Bloomberg around 11:00 AM and saw that XOM was