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The Trap Door Spider

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I had a nice exchange with one of our Pro clients today I likened his vol trading to a Trap Door Spider.  The Trap Door spider does not spin a web over and over again, hoping for something to fly in.  They wait until the opportunity is there and then pounce out of their hole at the tasty bug sitting there unsuspecting.  Trading volatility is a lot like that as one waits for an opportunity to add a position.

I review in our courses about two kinds of option traders:

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