Options Jive - May 21, 2019 - Jade Lizard Setup & Management


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Jade lizards are a slightly bullish strategy that take advantage of option skew. When structured correctly, they resemble a strangle with no upside risk. To put on a jade lizard, sell an out of the money naked put and a call spread. Look for underlying’s that have recently sold off and have high implied volatility ranks. To remove upside risk, ensure that the credit received is greater than the width of the call spread.

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