Mario V. P.
Live trading and education at MTO Opciones
Mario has been a private investor since 1997 and has specialized in options since 2020, putting thousands of hours into study and real-money trading.
His approach was born from a beginner's mistake: in 2000 he bought Terra shares at the height of the dot-com bubble and lost more than €4,000. Since then his focus has been risk management: defined-risk strategies and a clear plan for when the market moves against you.
At MTO Opciones he manages the community's real Interactive Brokers accounts, shares every trade in real time and writes the Sunday and Wednesday newsletter read by more than 1,000 investors. He is also the author of the 50+ article options tutorial at MVP Finanzas (in Spanish).
Articles by Mario V. P.
MTO Wheel Spread: What It Is and How We Use It, Step by Step
The MTO Wheel Spread starts with an in-the-money put credit spread. If the stock rises, you close early for a profit. If it falls, you sell the protective put, accept assignment of the shares at an effective price close to market, and sell calls above that price until you exit at a profit.
In-the-Money Put Credit Spread: How We Build It and Why
An in-the-money put credit spread is built with one or both strikes above the stock price. It collects much more premium than the textbook (OTM) version, so net risk is lower and a small rally lets you close for a profit. The trade-off: the stock needs to go up.
Call Debit Spread: How to Profit From a Rally by Paying Less
A call debit spread means buying one call and selling another with a higher strike and the same expiration. It costs far less than the call alone, and your maximum loss is what you paid, in exchange for capping your profit. At MTO we open them long-term on good companies and close them as soon as there's a solid profit.
What Do I Do If I Get Assigned on a Put?
If you're assigned on a put, you buy 100 shares per contract at the strike price. First, calculate your real cost basis (strike minus premiums collected). Then, if the stock hasn't tanked, sell covered calls above that price; if it has dropped sharply, it's usually better to wait and not sell calls at a loss.
Rolling Options: When We Do It and What to Watch Out For
Rolling means closing a short option and opening another with a later expiration and, often, a different strike. At MTO we only roll if we want to stay in the position, for a net credit, without going too far out in time, and improving the strike when possible. Note: the closed option leaves a realized loss even if the roll is for a credit.