Welcome and What You Will Learn

Welcome to "The SPX Options Best Trade" course.

In this course, you will learn one of my favorite income-generating options strategies — a trade built on the Broken Wing Butterfly

(BWB) structure, applied to the SPX index, and enhanced with technical analysis and active Delta management.

This is what makes this strategy unique compared to most options income trades you will find online:

• It is Delta-neutral by design, but uses technical analysis (support and resistance) to position the trade for the highest

probability of success.

• It benefits from both time decay (Theta) AND a reduction in implied volatility (Vega negative).

• It works well in trending markets because it can be tilted slightly Delta-positive to follow an uptrend.

• It only requires 10–15 minutes per day of monitoring — usually at the end of the trading session.

• It is one of the most flexible trades you can run, because there are many ways to adjust it depending on what the market

is doing.

By the end of this course, you will be able to:

1. Build a Broken Wing Butterfly on SPX from scratch.

2. Choose the right expiration and strikes based on IV and market conditions.

3. Add a "soft hedge" to capture extra premium and control Delta.

4. Manage and adjust the trade through every typical scenario: market up, market down, market choppy, IV spike, IV crush.

5. Decide when to close, when to roll, and when to let it run to expiration.

A note before we begin: this strategy is the most discretionary of all my trades. That means there are very few rigid rules and

many judgment calls. The good news is that the structure itself is forgiving — Delta sensitivity is low and you have a wide price

range to operate in. Take your time, paper-trade first, and come back to lessons as needed.

Let's get started.