There are two versions of this trade. 1 as a Back Ratio (more risk / capital )1 as a Put Butterfly (less risk / capital)
This is a complete and utter ridiculous trade and basically a play if there is a second wave of the virus before the election.
Putting on Put Back Ratio in Oct. This does include a naked or cash secured Put, but even if it goes against us, and continues higher, its still profitable . BUY (1) 65 OCT PUT SELL (2) 60 OCT PUT Credit: $1.00 ($100 premium)
Forgot to go over this during the broadcast. Pretty strong short on this name.
Bearish to Neutral PUT Butterfly. This is an add on to an existing $DIS Short Credit Call Spread .