About OptionsWizard

What this site is

OptionsWizard is a free, independent educational resource about options trading — with an emphasis on mechanical, probability-based premium selling: the approach of systematically selling options when implied volatility is rich, sizing every position small, and managing each trade by fixed rules instead of gut feel.

There is nothing for sale here: no courses, no trade signals, no broker pitches, no hype. The site is funded by advertising, which is why you'll see ad slots on the pages — the content itself will always stay free.

Who it's for

Our approach

Numbers over narratives. Every strategy on this site is presented the same way — setup, when to use it, and exactly how it's managed — because in premium selling, the management is the edge: take winners at 50% of max profit, exit at 21 days to expiration, size small enough to survive the losing streaks.

Contact

Questions, corrections, or suggestions? Reach us through the site's public repository: github.com/Hedgewizs/optionswizard.

The Trader's Toolkit

The books and desk gear behind this site. No courses for sale here — just the tools.

📘 Option Volatility & Pricing

Sheldon Natenberg

The options bible. Natenberg explains volatility, pricing models, and how market makers actually think — from basic spreads to advanced volatility trading. If you only read one book on options, this is it. Dense but readable, and every serious trader I know has a worn copy.

See it on Amazon →

📗 Options as a Strategic Investment

Lawrence G. McMillan

The encyclopedia of options strategies. McMillan documents every spread, hedge, and combination in exhaustive detail with real-world examples and risk graphs. It's the reference you reach for when building or dissecting any position. Not a cover-to-cover read — a lifetime desk companion for strategy builders.

See it on Amazon →

📙 Trading Option Greeks

Dan Passarelli

The Greeks, finally made practical. Passarelli translates delta, gamma, theta, and vega from textbook math into trading decisions — when to be long gamma, how theta really decays, what vega means for your P/L. The perfect companion to this site's Greeks page, written by a former market maker.

See it on Amazon →

Affiliate disclosure: links above are Amazon affiliate links. As an Amazon Associate I earn from qualifying purchases — it costs you nothing and keeps this site free.