Options Crash Course: Ep #11 - Undefined-Risk Strategies: Part One




The tastytrade network show

Summary: Now that we’ve built up a foundation in defined-risk strategies (with [episode #9](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-9-defined-risk-strategies-part-one-09-18-2020) and [episode #10](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-10-defined-risk-strategies-part-two-09-21-2020)), we want to turn our attention to undefined-risk strategies. Specifically, we look at Short Puts and Short Strangles, as a Short Put is simply the [undefined-risk version](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/from-theory-to-practice-09-17-2018) of a Short Put Spread, and a Short Strangle is the undefined-risk version of an Iron Condor. So in this episode of Tastytrade’s Options Crash Course, we dive into the pure Greek exposure and higher POPs that undefined-risk strategies offer. LINKS TO ALL CRASH COURSE EPISODES: [Ep #1: The Source of all Strategies](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-1-the-source-of-all-strategies-09-08-2020) [Ep #2: Deconstructing Option Prices](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-2-deconstructing-option-prices-09-09-2020) [Ep #3: Extrinsic Value Extras](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-3-extrinsic-value-extras-09-10-2020?_sp=ba65a89a-d6a9-4ad4-9de3-db69a440da0a.1599764506917) [Ep #4: Profit, Direction, and Probability](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-4-profit-direction-and-probability-09-11-2020) [Ep #5: The Natural Decay of Options](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-5-the-natural-decay-of-options-09-14-2020) [Ep #6: Trading Changes in Implied Volatility](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-6-trading-changes-in-implied-volatility-09-15-2020) [Ep #7: Gamma: Sign, Magnitude, and Risk](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-09-16-2020) [Ep #8: Contracts, Decay, and IV Overstatement](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-8-contracts-decay-and-iv-overstatement-09-17-2020) [Ep #9: Defined-Risk Strategies: Part One](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-9-defined-risk-strategies-part-one-09-18-2020) [Ep #10: Defined-Risk Strategies: Part Two](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-09-21-2020) [Ep #11: Undefined-Risk Strategies: Part One](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-11-undefined-risk-strategies-part-one-09-22-2020) [Ep #12: Undefined-Risk Strategies: Part Two](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-09-23-2020) [Ep #13: Managing Winners, Losers, and Rolling](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-09-24-2020) [Ep #14: Directional Bias at the Portfolio Level](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-14-directional-bias-at-the-portfolio-level-09-25-2020) [Ep #15: Positive Theta at the Portfolio Level](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-15-positive-theta-at-the-portfolio-level-09-28-2020) [Ep #16: Putting it all Together: Trade Entry and Exit](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-16-putting-it-all-together-trade-entry-exit-09-29-2020) [Ep #17: Putting it all Together: Trade Management](https://www.tastytrade.com/tt/shows/options-crash-course/episodes/options-crash-course-ep-17-putting-it-all-together-trade-management-09-30-2020)