When the VIX Is This Low, Stop Selling Puts

Two sharp viewer questions on Confirm and Send, and the real lesson is one most traders don't see coming: over-managing a position is its own kind of overtrading. Asked whether to roll a broken-wing butterfly's wings in or out, Tom Preston and Chris Vecchio walk the mechanics, but land on a bigger point, if you're endlessly tinkering, you've gone from mechanical to discretionary and you're not letting the trade do what it was built to do. Better to reset or find a new opportunity. 📊 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 The broken-wing butterfly question 00:45 Rolling the wide wing in 01:30 Why wider wings cost you 02:20 Managing vs over-managing 03:00 When tinkering becomes overtrading 03:40 Trade something new, don't fiddle 04:10 Selling premium when IVR is low 05:00 Go to individual names, go tighter 06:00 Puts as an index-fund replacement 06:40 Why call verticals beat short puts now #tastylive #confirmandsend #tompreston #overtrading #butterflyspread #tradeadjustments #lowvolatility #optionsforbeginners #optionstrading #stockmarkett 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.