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Welcome to the Wealth Building With Options Podcast with Dan Passarelli. This podcast is dedicated to making you a calm, consistent and confident options trader. Inside each episode, Passarelli, an options industry veteran, helps you avoid the common mistakes, pitfalls and misconceptions about options trading as a consistent wealth building activity. You will discover actionable strategies to build wealth using assets you may already own. With a primary focus on the traditional “Wheel Strategy,” Passarelli taps his 30+ years as a market maker on the Cboe floor and options educator for investment firms, traders and international governments to make the process simple, straightforward and effective. As a subscriber to the Wealth Building With Options Podcast you will gain the valuable insights only an experienced trader and educator can provide. You’ll discover the keys to making covered calls and cash-secured puts work for you as a consistent wealth building activity. Whether you are investing in an IRA, a fully funded trading account or are a hobby trader. This is the key to consistent income through options trading.
Episodes
5 days ago
5 days ago
Episode Summary:
In this episode, Dan dives into one of the most misunderstood aspects of options trading: the Greeks — and more importantly, where the real edge in trading actually comes from. Contrary to what many novice traders believe, theta is not the edge. The real advantage lies in volatility and skew.
With practical examples and 30 years of trading experience, Dan breaks down how delta works, why traders often misinterpret theta, and how cash-secured puts and covered calls use volatility pricing to your advantage.
In This Episode, You’ll Learn:
- Why theta is not a reliable trading edge, despite popular belief
- How delta works in directional trading and how to simplify its meaning
- The true nature of short puts and why they behave like bullish stock positions
- How risk premium gives option sellers an advantage
- Why options behave like insurance policies — and how that helps traders
- What volatility skew is and how to recognize it
- How covered calls and cash-secured puts benefit from implied volatility mispricing
Key Concept:
Delta isn’t just a Greek — it’s the sensitivity of an option’s price relative to the underlying stock. When you understand how delta mirrors share ownership, your perspective on options changes completely. And when you understand skew, you start trading with a real edge.
Additional Resources:
To access bonus video content, trade adjustments, and subscriber-only episodes, visit:
wealthbuildingwithoptions.substack.com
Support the Show:
Share this podcast with fellow traders and subscribe to your favorite app so you don’t miss the next episode. A quick review or rating helps the show grow and reach more traders like you.
Disclaimer:
Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before investing. Link: https://www.theocc.com/getmedia/a151a9ae-d784-4a15-bdeb-23a029f50b70/riskstoc.pdf
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