1. The ‘Smarter’ Directional Bet
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2. The Math of Leverage (Risk vs. Reward)
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3. The Greeks of Momentum (Delta & Theta)
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4. Picking Your Strikes and Assignment Risk
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5. Actions to Take at Expiry
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6. Topic 6: Course Summary & The Bearish Roadmap
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This is where the “Smarter Bear” strategy shines. Because your risk is so small ($152) compared to your potential gain ($248), your percentage return is massive.
$248 (Profit) / $152 (Risk) = 163.16% ROI.
If you bought a single $672 Put for $1,406, the SPY would have to crash significantly just for you to double your money. In a spread, the SPY only has to drop $4.35 (less than 1%) for you to hit a 163% return.