The Options
Adjustment
Playbook
Master the Moves. Control the Board. Win the Game.
Over 50 years of options trading distilled into 17 high-impact adjustments โ the same moves the pros use to keep risk contained, lock in profits, and stay calm when the market gets loud.
"Mike's one of the sharpest minds in the game. This groundbreaking book makes options adjustments accessible to traders for the first time. It's a total game-changer."
The Hard Truth
Stop hoping. Start adjusting.
Most traders enter a position, watch the market move, and pray. Hope that it bounces. Faith that tomorrow turns it around. But hope and faith are not strategies โ they're emotional defaults that wreck trades and destroy confidence.
Winners flip the switch. They put the risk first โ and let the profits take care of themselves.
The Board
The risk graph โ your scoreboard, your map of the battlefield, the place where every adjustment begins.
The Strategies
Calls/Puts, spreads, butterflies, calendars, risk reversals โ any options strategy. Learn how to adjust all of them.
The Adjustment Pieces
17 named adjustment pieces including House Money, Pony Express, Collect the Rent โ clear moves that you can actually employ.
Inside the Playbook
Seventeen plays. One winning game.
Each one named. Each one battle-tested. Walked through with real trades, side-by-side comparisons, and risk-graph breakdowns.
House Money
Turn a winner into a risk-free play. Pull your original stake off the table and let the rest ride on the house's dime.
Pony Express
Swap a tired winner for a fresh one. Reduce risk and amplify incremental profits by rolling into a new option at the Gamma/Delta sweet spot.
Collect the Rent
Sell premium against an existing position to generate steady cash while you wait. Your trade pays you to hold it.
DNA โ Delta Neutral
When the trade has too much directional pressure, neutralize it and give the position more room to work.
Insurance Policy
A cheap hedge against catastrophic moves. Pay a little, sleep a lot better.
Spread the Spread
Bring in credit, neutralize directional risk without bailing out. Reshape the risk graph in your favor.
Squeeze Play
Contract the distance between strikes to squeeze risk out of a vertical spread. Cleaner, tighter, smarter.
Kick the Can Down the Road
When the thesis is right but the clock is wrong, roll the position to a later expiration and give it room to play out.
Stretch Play
Expand a butterfly's wings to give the trade a wider window of profit when the move is bigger than expected.
Cocoon the Fly
Squeeze risk out of a butterfly when the market starts threatening your wings. Patient defense, then transformation.
Kite String Pull
Shift risk from one wing of a calendar spread to another to align profits to your directional prognosis.
Double-Wide
Two calendars, twice the runway. Build a structure that profits across a wider price range without doubling the risk.
Move the Catcher's Mitt
When the stock goes to where you weren't expecting, slide your calendar to catch the stock where it is actually heading.
Stock Hedge
Wrap your stock in a suit of armor. Buy a put for protection, sell a call to pay for it โ capped downside, defined outcome, peace of mind.
Pull a Wing Off
When one wing of your structure is working against you, pull it off to reduce risk and simplify.
Flock O' Flies
Multiple butterflies across strikes and expirations โ a broader net of opportunities, all managed as one.
FlyCal
The butterfly meets the calendar spread. A strategic combo that uses time decay and structure to stack the odds.
Plus foundational chapters on risk graphs, the Greeks, butterflies, calendars, and how every piece fits together on the board.
Meet the Authors
Fifty years of trading. One playbook.
Author ยท Founder, MWTC
Michael Wade
Veteran trader, teacher & coach
Mike came up under George Fontanills and Tom Gentile, the legendary Optionetics founders โ first as a student, then teaching alongside them. A quarter-century later, he's still doing what he loves most: helping real traders move from hoping to adjusting.
He founded MWTC to envelop traders in a nurturing, growth-focused environment โ the place where this playbook lives and breathes every day.
Contributing Author
Joe Contes
Seasoned trader ยท Truth-teller
Joe and Mike have traded and taught options around the world together for nearly two decades. Joe is a seasoned trader who came up with George Fontanills and Tom Gentile. He's sharp โ most importantly โ someone who tells the whole truth about what it really takes to trade successfully.
His co-architecture of The Adjustment Club โ the eight-week course that became this book's foundation โ is the reason the playbook exists in the form it does.
Who This Is For
If any of this sounds like you…
You can place a trade but can't manage one.
You know how to open positions. You freeze when they go sideways.
You've read about adjustments but never run one.
Books made it sound theoretical. This one makes it a game you can actually play.
You're tired of hoping the market saves you.
You want a method, a mindset, and moves you can call by name.
You're an experienced trader looking for an edge.
Even pros find sharper structures inside โ the FlyCal, the Cocoon, the Seagull.
Get Your Copy
The playbook is ready.
Are you?
Available in ebook, softcover and hardcover on Amazon. Order your copy and start turning stressful positions into calculated wins.
The Options Adjustment Playbook
By Michael Wade with Joe Contes
- โ 17 named, battle-tested adjustments
- โ Real trades with side-by-side comparisons
- โ Ebook, Softcover & Hardcover on Amazon
The Community
The book is the playbook. The Club is where it's played.
Trading can feel like a solitary pursuit. At MWTC, it isn't. Veteran traders lead the way โ not just with technical guidance, but with honesty, encouragement, and accountability.
The MWTC Trade Club is where the moves in this book are practiced daily, side by side, until they become second nature.
- โ Daily live trading sessions
- โ Real trades, real-time coaching
- โ A thriving community of serious traders
- โ Direct access to Mike, Joe Contes, and Gerardo Rojas
"We built MWTC to be the most empowering trading space on the planet โ and it's changing lives."
Truth
·Love
·Contribution
The MWTC Brand Pillars
Common Questions
Before you order
Do I need to be an experienced options trader? +
No. The book builds from the ground up โ risk graphs, Greeks, vertical spreads โ before walking into the 17 adjustments. Complete beginners grow into it. Experienced traders find sharper structures drawn from over 50 years of trading experience than they've ever seen named in print.
Where can I buy the book? +
Available on Amazon in ebook, softcover and hardcover editions. Click the "Buy on Amazon" button anywhere on this page to order your copy.
What makes this different from other options books? +
Two things. First, the game-style framing: every adjustment has a name, a purpose, a moment to use it โ not just a payoff diagram. Second, every play is shown on real trades with side-by-side comparisons of adjusted vs. unadjusted outcomes. This isn't theory โ it's over 50 years of combined trading experience on the trading floor.
Will I get access to the MWTC Trade Club too? +
The Club is a separate offer at mwtradecoach.com, but the book is its companion. Read the playbook, then come play the game with us.
A final word from Mike:
"This book was designed to leave you touched, moved, and inspired โ not just to trade better, but to trade with joy, clarity, and confidence."
Welcome to the game.
Let's play.
