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Big Lizard

A Big Lizard is a variation of the jade lizard. It is a more directionally bullish/bearish trade where the short put and call are traded closer together, or are at the same strike. This will bring in more credit than a standard jade lizard decrease the amount of cushion to the risk side.

Here are two segments that explain Big Lizards:

Mike and His White Board - Trading Strategy | Big Lizard

Liz and Jenny - Comparing and Contrasting the Big Lizard and Jade Lizards

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