Julia Spina Was a Rolling Options Hater Until She Saw This Trade

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. 📊 tastylive: https://www.tastylive.com/ 📰 Get Tom's pre-market analysis every morning: https://www.tastylive.com/newsletters 📘 FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 📱 Follow tastylive on X: https://x.com/tastyliveshow 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 The math behind it 16:35 When rolling doesn't work 17:42 Why he doesn't roll spreads 19:33 The new position, rolled live 20:26 The takeaways #tastylive #marketmeasures #rolling #shortstrangle #breakevens #futures #mes #optionsstrategy #optionstrading #stockmarket tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we'll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. ("tastylive") and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims, including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer.