Advanced Spreading Techniques: A Smarter Way to Use Option Spreads

By Lawrence G. McMillan

Option spreads are often introduced as “defined-risk” strategies — but that description barely scratches the surface. In practice, the success or failure of a spread depends on how it is structured, the volatility environment, and how the trade is managed over time.

Our Advanced Spread Techniques webinar is designed for traders who already understand basic option spreads and want to take their analysis further. Rather than focusing on textbook definitions, this session examines how experienced traders actually use spreads in real market conditions.

The webinar covers:

• How strike selection and spread width affect probabilities and outcomes
• When credit spreads and debit spreads perform best
• The role of volatility in spread performance
• Practical guidelines for managing and adjusting spreads as conditions change

Spreads are tools — not standalone solutions. Used properly, they can improve capital efficiency, control risk, and create more consistent results. Used incorrectly, they can quietly underperform even when the market moves in the “right” direction.

To learn more, we’ve posted a detailed overview of the webinar on Substack, along with access to the full presentation.

Read the article and watch the full webinar on Substack