Do you ever do a put ratio as a replacement for a short straddle? If you buy an ITM put and sell 2 ATM puts, you can consider the ratio spread as a straddle w no upside risk.
You can only get that max profit only if you pin exactly the short put strike on the expiration day. You won't get that any day earlier, really! The point is you could sell the embedded debit spread and then handle the short put independently and the price could come back.
never traded the PRS or a naked put either and after your discussion i realize this is really just a complicated Naked Put bc the odds of the stock landing in the ZONE that beats the income received is "fallacy" not worth the effort. I can see why you now prefer Naked puts vs PRS. It's less complicated. Great video BTW, thank you!
The Gimmes & Gotchas theory. James Schultz is the Robert Kiwasaki of options trading. I myself changed my religious beliefs. I suddenly understood. I screw you here, you wack me there. I let you screw me some to wack you silly down the line... As the line of an old Western movie ("Way of the gun", 2000) most of you young maggets are too young to have seen, goes : there's no free cheese on a mouse trap...
