The Option Strategist Substack

The Option Strategist Substack

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Option Basics

Option Basics: Exercise and Assignment
The Realities of Expiration, Parity, Early Exercise, and Assignment Risk.
 • Lawrence G. McMillan
Speculative Option Buying Webinar
Understanding Leverage, Risk, and Timing in Directional Option Trades.
 • Lawrence G. McMillan
1:07:41
Naked Option Writing Webinar
A disciplined framework for identifying, managing, and surviving naked option positions.
 • Lawrence G. McMillan
1:18:01
A Free Probability Calculator for Options Traders
A simple but powerful tool to estimate price probabilities, evaluate covered calls, and improve put-selling decisions.
 • Lawrence G. McMillan
Covered Call Writing Webinar
A practical, risk-focused framework for evaluating, selecting, and managing covered call positions.
 • Lawrence G. McMillan
1:08:10
Options Basics & Introduction to Spreads Webinar
A clear walkthrough of the core option concepts and the foundational spread strategies every trader should understand.
 • Lawrence G. McMillan
Option Basics: Option Trading Procedures
From Phone Calls to Trading Platforms: How Option Orders Are Placed and Executed
 • Lawrence G. McMillan
Option Basics: The History of Listed Options
From its 1973 launch with just 16 stocks to today’s global markets, the history of listed options is a story of innovation and growth.
 • Lawrence G. McMillan
Option Basics: Option Definition and Terms
Every option contract is defined by a few simple terms. Learn the meaning of underlyings, strikes, expirations, and premiums, the core building blocks…
 • Lawrence G. McMillan
Option Basics: Equivalent Positions
A closer look at interchangeable option strategies and how to optimize your positions.
 • Lawrence G. McMillan
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
Option Basics: Collaring Your Profits
Locking in Gains While Limiting Risk: The Power of the Collar Strategy.
 • Lawrence G. McMillan
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