Lee ran a great webinar this morning about Spread Strategies. He also covered some of the Greeks and explained how they affect the price of an option. For those who who trade vanilla puts and options I suggest you listen in on some alternatives. Spreads offer you more variety, the ability to finance the purchase of an option by selling a farther out of the money option. Lee covers Spread Strategies in a very easy to understand webinar.

2012-09-06 08.45 Meet Now from OptionMillionaires on Vimeo.

Here is a great webinar held on Vertical Spreads by Lee. What are Vertical Spreads? In a Nutshell Vertical Spreads involve two options of the same type, with the same expiration, but with different strike prices. One of the options is purchased (or long), and the other is sold (or short). Two common types of vertical spreads are the Bull Call Spread and the Bear Put Spread. Instead of just trading puts and calls, Vertical Spreads offer a way to limit your risk and/or cost.