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Options Trading Playbook: From Basics to Live Execution (with 3×/week Mentoring Labs)


Trade with a clear, rules-based process—not vibes. Learn options from the ground up, then apply the playbook live in the market, 3 times a week, with feedback and accountability.

Who It’s For

Beginners → intermediates who want structure, risk control, and repetition (SPX/SPY/IWM/RUT + liquid names).

Outcomes (what they’ll be able to do)

Read market structure (trend/rotation) and key levels

Pick the right options structure

Plan entries/exits with predefined risk, position sizing, and scaling rules.

Execute and manage trades live with checklists; journal and improve via data.

12-Module Curriculum (8–10 weeks)
Module 0 — Onboarding & Tools

Lessons: platforms & data, broker settings, risk disclosures, course map
Asset: Starter Pack (watchlist, chart layout JSON, journal template, A-setup checklist)
Mini-lab: Build your workspace

Module 1 — Price Action & Market Structure

Lessons: trend, pullbacks, ranges; higher-timeframe bias; liquidity zones
Exercise: Mark trend shifts and on last 20 sessions

Module 2 — Options 101 (No Fluff)

Lessons: calls/puts, moneyness, expiration; assignment; fees & slippage
Quiz: 10 Qs on moneyness, break-even, intrinsic vs extrinsic

Module 3 — Greeks that Actually Matter

Lessons: Delta as probability; Theta decay windows; Vega/IV impact; Gamma risk (0DTE)
Lab: Change IV by ±10% and forecast option price shift

Module 4 — Volatility, IV Rank, and Event Risk

Lessons: IV Rank vs IV; earnings & macro events; when to avoid premium
Exercise: Build an “Event Map” for next month; define pass/trade rules

Module 5 — Directional Plays (Beginner Core)

Lessons: long calls/puts; debit spreads for risk control; ATR-based stops
Lab: Convert a naked call idea into a defined-risk bull call spread

Module 6 — Income & Probability (Intermediate Core)

Lessons: credit spreads (short put/call), iron condors, short strangles (rules)
Risk: margin, tail events, how to avoid blow-ups
Lab: Build a high-prob condor around CPR balance days; define exits

Module 7 — Calendars, Diagonals & Time Edges

Lessons: using time skew; when calendars beat verticals; diagonals for trend + carry
Lab: Turn a “trend but high IV” scenario into a diagonal

Module 8 — The Playbook:

Lessons: your A-setup checklist (
Signals Format:

Ticker / Direction / Contract

Entry zone, invalidation (stop), targets


Lab: Write 3 sample signals for last week’s best setup

Module 9 — Execution & Trade Management

Lessons: limit vs marketable; fills & slippage; scaling out; moving stops; no-trade days
Drill: “If-then” management tree (initial stop → BE → trail rules)

Module 10 — Journal, Metrics, and Psychology

Lessons: R multiple, win rate vs expectancy; overtrading; recovery rules
Assets: Journal & scorecard, weekly review template
Exercise: Grade 10 historical trades with the rubric (A/B/C setups)

Module 11 — Capstone & Certification

Capstone: 20-trade challenge (paper or small size) using your playbook
Pass bar: ≥55% win, ≥1.3R expectancy, max drawdown within limits, clean journal
Deliverable: Personal Playbook PDF (your rules, setups, management)

Live Mentoring Labs (3×/week)

Format each session:

Plan (10–15 min) – pre-market levels, context, A-setup checklist

Execute (60–90 min) – wait for triggers; call entries/management in real time

Review (10–15 min) – what worked/didn’t; journal updates; homework

cadence (CT): Mon & Wed 8:45–10:30 AM; Fri 11:30 AM–1:00 PM
Recordings + notes posted after each session.

Assessments & Templates

Quizzes: Modules 2, 3, 4, 6 (auto-graded, 10–15 Qs)
Assignments: Labs in M5–M9 (upload screenshots + notes)
Rubrics:

Setup Quality (0–3):

Risk Plan (0–3): defined stop, size, targets, scaling logic

Execution (0–3): entry discipline, adherence to plan

Review (0–3): journal completeness, lessons captured

Downloadables:

A-Setup Checklist (one pager)

Pre-Market Plan template

Signal Card template (copy/paste for room)

Trade Journal (CSV/Notion) + KPI dashboard (win%, avg R, max DD)

Event Map & “No-Trade” rules sheet

Management Trees (debit vs credit; trend vs balance)

Sample Lesson Copy (drop into slides or script)

Lesson: Delta = Probability (Without the Math Headache)

Delta ≈ chance your option finishes ITM by expiration.

Higher Delta = more directional, lower Delta = more probability/less payoff.

Rule of thumb: Match Delta to context—trend day? use 0.35–0.50; mean-revert scalp? 0.20–0.35 with tighter management.