What an option contract actually is, how it is priced, what the Greeks measure, what implied volatility does to you, and how long options, verticals and income strategies really pay off. Worked numbers and full payoff tables throughout, no hype.
Module 1: What an option is
Rights versus obligations, contract specs, the multiplier, expiration cycles, exercise style, and how index options differ from equity options.
Module 2: Pricing intuition
Intrinsic and extrinsic value, moneyness, the shape of time decay, why far out-of-the-money options behave like lottery tickets, and put-call parity in plain words.
Module 3: The Greeks, one at a time
Delta as hedge ratio and probability proxy, gamma, theta with a decay table, vega, rho, and how each changes with time and moneyness.
Module 4: Implied volatility
What IV means, IV versus realized, IV rank and percentile, a worked earnings crush, and the basics of term structure and skew.
Module 5: Long options done right
Buying calls and puts, choosing strike and expiry, the three ways to lose with the right direction, exit rules and rolling.
Module 6: Basic spreads
Vertical debit and credit spreads with full P&L tables, breakevens, max profit and loss, and which one fits which situation.
Module 7: Income strategies and their risks
Covered calls, cash-secured puts, the wheel, assignment and early exercise, dividends, tax notes, and why income is never free.
Module 8: Risk and mechanics
Sizing option positions, buying power and margin, liquidity and the bid-ask, pin risk, 0DTE realities, order types and legging, and a pre-trade checklist.
Educational content, not financial advice.