The High-Duration Playbook

Options 101

From Greeks and volatility smiles to LEAPS, the Wheel, and screening with Python. A practical guide to trading options.

by Johnson Iyyadurai

What's Inside

Mechanics

Calls, puts, expiration, moneyness. What you need to know before placing a trade.

The Greeks

Delta, gamma, theta, vega. Understand your risk before sizing a position.

Fear Protocol

VIX, skew, and term structure. How to read fear and trade volatility directly.

LEAPS

Long-dated options as stock substitutes with built-in leverage.

The Wheel

Sell puts, get assigned, sell calls, repeat. A systematic income strategy.

Python Screening

Find mispriced options using pandas, yfinance, and Black-Scholes.