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SPX Income Strategy Videos

Short walkthroughs of the defined-risk, time-decay structures traders run on the SPX — how each one is built, the greeks that drive it, and the volatility backdrop it wants. Most target a modest 8–15% gain and close early rather than holding to expiration.

Butterfly SpreadPositive theta · Flat delta · Negative vegaLong wings ~70 points out with two short options at the money, entered ~25–30 days to expiration. Targets an 8–10% gain and exits within 5–10 days rather than holding to expiry.Watch on YouTube →Calendar SpreadPositive theta · Long vegaSell a near-term option and buy a later expiration at the same at-the-money strike, harvesting the faster decay of the short leg. Wants the VIX under 20 at entry.Watch on YouTube →Diagonal SpreadPositive theta · Long vegaThe calendar's cousin: different strikes, with the long put deeper in the money for real downside protection. Suits a bearish or defensive lean in brittle markets.Watch on YouTube →Double DiagonalPositive theta · Long vegaA put diagonal and a call diagonal combined into four legs, with asymmetric strikes to smooth the P&L curve. Its wide range shines in choppy, back-and-forth markets.Watch on YouTube →Weekly Double Diagonal SetupStrong positive theta · Long vegaA worked example for a weekly expiration — long call ~40 points out against a short 5 points higher, and a wider 10-point spacing on the put side. Exits at 10–15%.Watch on YouTube →Double Diagonal + a VIX TradeLong vegaSizing the same structure in SPY versus SPX, plus why a VIX in the teens makes long-vega setups and speculative VIX call debit spreads attractive.Watch on YouTube →Back Ratio SpreadLong vega · DirectionalA 2-by-3 ratio entered for a net credit ~14–18 days out, built to pay off on a fast 80–100+ point move. Put on before the move, not after, and cashed out quickly.Watch on YouTube →

Videos are from The Options Mentor on YouTube and are shared for education only — they are not personalized financial advice, and OptionBigBull is not affiliated with the channel. Paper trade any new strategy before committing real capital.

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