Jade Lizard vs. Big Lizard Strategy

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[@stevencai3078]

Hi Mike, there are 2 concerns that I have. Firstly, For Big Lizard, the straddle is sold first before buying the call later to define the upside risk. Can I choose buy the call first and sell the straddle later, any difference in the sequence? Secondly, for credit call spread (part of big and jade lizard), would I still face dividend risk from the short call or would the long call offset the short call upon expiry? Thank you.

[@tdiler12]

You could “almost “call this a directionally biased Iron condor with a missing wing.
Lets call it A broken condor.

[@sedul2006]

Is this effective to add on to a a challenged naked put ( underlying hits strike or goes to BE of naked put or well past) in conjunction to rolling out the Naked Put or rolling out and down the naked put side.

[@tastyliveshow]

You certainly could to add more premium to the trade - just ensure that if you're adding a short call spread, your net credit is higher than the width of the call spread to ensure no risk to the upside.

[@richard24690]

Don't understand why people use Jade Lizards which requires huge buying powers with unlimited downside risk not have a simple iron condor. Where is the benefit?

[@devenlad]

Max Loss is infinite for Jade Lizard, you need to put stop loss

[@elroyblackbean]

WHY would you use this strategy vs. others? Directional bias? Did I miss it in the video?

[@tastyliveshow]

Directional bias to the upside, or just to remove risk from the upside, which is achieved through the jade lizard and big lizard when credit is more than width of call spread.

[@IkaikaArnado]

@Humble Grumble more profit and exposure to the greeks withouts going completely naked.

[@sergioramio]

risk to reward kinds sucks no?

[@dannytetreault]

H ......yeah, it's like you risk $810 to make $80 and some change! But, selling short and collecting premium at 68-80% chances of winning tips these option strategies in our favour.

[@RayBarrera]

Only if you consider the max loss a real possibility.

[@orpheusepiphanes2797]

i like it as component of wheel strategy

[@StatisticalTrader]

These strategies are for people who actually don't mind owning the actual shares. This is a nice twist on the wheel strategy where people sell naked puts. That max loss is not a likely scenario since it implies the share price going to 0