I have been using the DITM Vertical Bull Call Spread for personal trading for well over a year now with good success. This strategy is ideal for me because, although I have been reading about option trading for nearly three years on this forum, most of what I read was boring or over my head. That said, isnât it interesting that Iâm posting a new thread? The Deep in the Money Vertical Bull Call Spread is created when you buy a call with a strike price that is (roughly) 3 levels below the underlying stock price, and you sell a call with the same expiration date but with a strike level above the long call. For example: XYZ stock at $88, you buy a XYZ DEC07 75 call and sell a XYZ DEC07 80 call. The idea is to pick a strike date and strike levels that produce a yield (on an annualized basis) of about 50%, using an underlying stock that will offer a high safety margin. I usually like to work with calls that are 6 months from expiration to get yields of 25%. I go as deep as I can and still get the 25% yield. This choice seems to allow me to stick with good quality companies and avoid the high volatility junk out there. I start out (usually) with a 1 strike level spread, so I have flexibility if I need to tweak it as the stock price does itâs thing. This is some of what I have learned, and I hope to learn more if this thread sticks: 1. This is a fairly easy strategy for novices to implement. 2. This is a non-technical strategy, at least the way I use it. 3. The safety of the strategy has proven to be incredible, for my trades to get in trouble the stock has to drop 15 to 20% (usually), otherwise I make the full profit. 4. Using a spread offers many opportunities for position management moves. 5. Using a spread methodology offers a lot of flexibility at tax time. 6. Sector selection, entry timing is very important in stock selection. Like, of course! But the point is I work as hard as any long-on-stock guy to pick stocks that will be successful during the next six months. But if the stock drops 10%, Iâm still smiling and he is wringing his hands. Naturally I need enough Volatility in the stock to get the yield I'm looking for. 7. The positions do not require daily maintenance and I sleep well at night. Weekly monitoring is sufficient. I monitor and tweak a lot because I love it, and I can see more opportunities to make the position yield more or be made safer, but I donât have to with six month time frames. 8. Early exercise, and expiration issues can get interesting in DITM spreads. I hope we can discuss in some detail the topics related specifically to this type of strategy. You can contact me to send you more info on my experiences, thoughts and ideas about this strategy. I have complied a document that will inform a rank novice how to do this and I would be happy to send it to anyone who asks. Peer reviews can be tough, lets keep it clean guys!