Custom Naked Put

What we call a "custom naked put" also carries many other names. This strategy is one we like to use when we are fairly bullish on a stock but also might see some downside risk of the stock possibly heading lower short term. Because our goal is to always create a high probability trade, we use the combination of 2 different strategies to increase our chances of success. First, we'll sell an OTM call credit spread and might take in a credit of say $0.50 on the sale. We'll then look to match that credit by also selling a naked put below the market for about the same credit. This will double our credit in the trade and help move the break-even point on the strategy much lower (thus increasing our probability of success). Hint: you can also think of this as entering an iron condor without the put side protection.