This trade is a leveraged version of the LT112. Instead of 2 NPs at 5 Delta, we use 3, and add 4 Long Puts at a lower Delta, one calendar month (30 days) earlier. See the LT112 trade for trade mechanics and risk management.

Trade Entry

• Enter every 120 DTE cycle
• Same setup as LT112, except we have 3 NPs at 5 Delta
• Buy 4 Long Puts at 90 DTE around 2 Delta
• Target credit around $20-24

Risk Management

• 2X Max Loss (200% Loss) on the NPs plus the 4 Long Puts