The Option Strategist Substack

The Option Strategist Substack

Home
Notes
Stock Market Commentary
Feature Articles
Option Basics
Archive
About

Feature Articles

Bullish, But a Sell Signal Flashes
MVB sell signal confirmed as overbought indicators cluster. We remain bullish but vigilant.
 • 
Lawrence G. McMillan
Big Bank Earnings: What the Options Market Is Telling Us
Straddles look overpriced heading into earnings, but shifts in call volume may hint at upside for WFC—and downside risk for JPM and C.
 • 
Lawrence G. McMillan
2
Option Trading Guidelines
Timeless principles for smarter, safer, and more effective option trading, whether you're a novice or a seasoned pro.
 • 
Lawrence G. McMillan
A Brief Commentary on Buying Out-of-the-money calls
A practical breakdown of why directional accuracy isn't always enough when trading out-of-the-money calls.
 • 
Lawrence G. McMillan
Naked Put Selling in a Potentially Bearish Market
A classic guide to hedging naked puts when markets feel unstoppable—but risks still lurk beneath the surface.
 • 
Lawrence G. McMillan
Viewing $VIX From A Seasonal Perspective
Understanding Seasonal Volatility Cycles and Their Implications for Traders
 • 
Lawrence G. McMillan
Revisiting the Seasonal $VIX Composite Chart (Last Updated 2022)
Volatility often bottoms in July. Here’s a look at the historical pattern, with an updated version coming soon.
 • 
Lawrence G. McMillan
Historical vs. Implied Volatility
What It Means When Realized Volatility Outpaces VIX
 • 
Lawrence G. McMillan
Covered Writing ETFs: CONY & NVDY
Analyzing the income potential and risk profile of high-yield covered call ETFs on Coinbase and NVIDIA.
 • 
Lawrence G. McMillan
Covered Writing ETFs: MSTY, in Particular
A deep dive into one of the newer covered call ETFs—MSTY—that's been turning heads with its sky-high payouts.
 • 
Lawrence G. McMillan
$VIX Futures Premium Indicator
"The Big (Volatility) Short" trade is setting up once again.
 • 
Lawrence G. McMillan
More Covered Writing ETF’s
Defiance’s MST, GLDY, QQQY, SLVY, USOY, and TLTY
 • 
Lawrence G. McMillan
2
© 2025 McMillan Analysis Corp.
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture