Spreads: Options Trades with Defined Outcomes
An option spread consists of two positions, or "legs", that together can change the risk/reward outcome of an outright option purchase in ways that many traders find attractive.
Senior Strategist, Investor Education, E*TRADE from Morgan Stanley
Over the last 26 years, Shawn Howell has worked with some of the world's leading brokerage and training firms including Charles Schwab, Investools, Thinkorswim Group. He's been a broker, trader, educator, consultant, and executive, as well as co-author of the book Trading By Numbers. In 2017, Shawn joined the E*TRADE content and education team as a Director of Investor Education. He specializes in options education and has taught globally in partnership with The Options Industry Council, Cboe OPTIONS INSTITUTE, Scotia iTRADE, Saxo Bank, and the TradersEXPO. Shawn holds industry licenses including Series 7, 63, and 8. He lives on his family ranch along California's central coast with his wife and two children.