Learn to protect your portfolio like a professional trader
Master the art of hedging with options to protect your portfolio and trade with confidence. Learn proven strategies used by professional traders to limit downside risk without sacrificing upside potential.
"A hedge you don't fully understand is just an expense — I'll make sure you know exactly what you own and why."— Anthony Peter Dasaro
What you'll learn
What you'll be able to do
- Structure a protective put strategy to cap the downside on any existing stock position
- Build a collar strategy that funds downside protection using covered calls
- Read and interpret an options chain to identify the best strikes and expiries for a hedge
- Calculate the true cost of a hedge relative to the risk it eliminates using delta and theta
- Construct a portfolio-level hedge using index options (SPY/QQQ puts) to protect a diversified basket
- Adjust or roll an existing hedge when market conditions change before expiration
How it works
A school that adapts to you
This isn't a set of static videos. Every lesson is generated live and tuned to where you actually are.
We learn your level
A quick placement check tailors your starting point so you're never bored or lost.
Lessons adapt as you go
Each lesson is written for your pace and your goal, adjusting as your skills grow.
Your AI coach keeps you moving
Checkpoints, feedback, and gentle nudges turn progress into a real result.
The curriculum
What's inside your school
6 modules · 18 lessons
Reading the Options Chain Like a Hedger
Before placing any hedge, students must be able to fluently navigate an options chain through the specific lens of downside protection. This foundational module ensures every subsequent strategy is grounded in the ability to find, compare, and evaluate the right contracts — covering the prerequisite concepts of strike selection, expiry timing, and the role of implied volatility in hedge pricing.
- 1.1Anatomy of an Options Chain for HedgersIncluded
- 1.2Choosing the Right Strike and Expiry for Your HedgeIncluded
- 1.3Implied Volatility and Its Impact on Hedge PricingIncluded
The Protective Put — Your Portfolio's Seatbelt
With options chain fluency established, students now implement their first complete hedging strategy. This module covers the full lifecycle of a protective put — the mechanism, sizing, placement, and cost-benefit evaluation — directly delivering the target outcome of structuring a protective put to cap downside on any existing stock position.
- 2.1How the Protective Put WorksIncluded
- 2.2Sizing and Placing a Protective Put TradeIncluded
- 2.3Evaluating Whether a Protective Put Is Worth the CostIncluded
Delta and Theta — The Math Behind Hedge Efficiency
This module provides the quantitative engine behind all hedging decisions. Placed after students have experienced a real strategy (protective put) but before they build more complex structures, it ensures they can measure what a hedge is actually doing and what it costs over time — directly delivering the outcome of calculating true hedge cost relative to risk eliminated using delta and theta.
- 3.1Delta as a Hedge RatioIncluded
- 3.2Theta Decay and the True Cost of Holding a HedgeIncluded
- 3.3Combining Delta and Theta to Score a HedgeIncluded
The Collar Strategy — Free (or Near-Free) Protection
Building directly on the protective put and the Greeks framework, students now learn how to offset the cost of downside protection by selling a covered call — creating a collar. This module delivers the target outcome of building a collar strategy that funds downside protection using covered calls, and reinforces strike selection and cost management skills.
- 4.1Building a Collar from the Ground UpIncluded
- 4.2Pricing and Selecting Collar Strikes for Your GoalsIncluded
- 4.3Managing a Collar Through ExpirationIncluded
Portfolio-Level Hedging with Index Options
Students graduate from single-stock hedging to protecting an entire diversified portfolio using index options (SPY/QQQ puts). This module delivers the target outcome of constructing a portfolio-level hedge using index options and introduces beta-weighted delta as the key sizing tool — building on every prior module's concepts.
- 5.1Why Index Puts Hedge a Portfolio More EfficientlyIncluded
- 5.2Sizing an Index Hedge Using Beta-Weighted DeltaIncluded
- 5.3Placing and Monitoring a Portfolio HedgeIncluded
Rolling and Adjusting Hedges Before Expiration
The final module addresses the ongoing, dynamic nature of hedging — positions must be managed, not just placed. Students learn when and how to roll a hedge forward in time, adjust a collar after a significant stock move, and avoid the most common hedging errors. This module directly delivers the target outcome of adjusting or rolling an existing hedge when market conditions change before expiration.
- 6.1When and Why to Roll a HedgeIncluded
- 6.2Adjusting a Collar When the Stock MovesIncluded
- 6.3Common Hedging Mistakes and How to Avoid ThemIncluded
Who it's for
Is this you?
Buy-and-hold investors
You've accumulated a meaningful stock portfolio and want to protect unrealized gains through volatility without selling your core positions.
Self-directed ETF traders
You trade SPY, QQQ, or sector ETFs and want to use index options to hedge your whole book efficiently with a single, well-sized position.
Options beginners, level two
You know what calls and puts are but have never structured a full hedging strategy — this school is the precise next step in your options education.
Income-focused covered call writers
You already sell covered calls and want to learn how to pair them with protective puts inside a proper collar strategy to lock in near-zero-cost protection.
Pre-retirement investors
With retirement on the horizon, losing 30% in a drawdown is no longer recoverable — you need a systematic, cost-aware plan to protect what you've built.
Active stock pickers
You take concentrated positions in individual stocks and need the protective put and collar toolkit to manage single-name downside risk with confidence.
Questions
Frequently asked
Your teacher
A note from your teacher
Anthony Peter Dasaro
I know exactly where you are right now. You've built something real — a portfolio of stocks or ETFs you believe in — and the last thing you want is to watch a market drawdown take a chunk of it before you can react. You've probably looked at options as a way to protect yourself, maybe even bought a put once or twice. But you're not fully confident in the mechanics, the pricing, or how to tell a smart hedge from an expensive one. That uncertainty is what this school is designed to fix.
The Hedge Blueprint is built around the strategies I've used to protect positions in real, live markets — not textbook scenarios. We start where every hedge actually starts: the options chain. Before you place a single trade, you need to know how to read a chain like a hedger — which strikes matter, how to pick an expiry that makes sense for your time horizon, and what implied volatility is telling you about the true cost of protection right now. From there, we build your toolkit one strategy at a time: the protective put, the collar, and ultimately the portfolio-level index hedge that lets you protect a diversified basket of positions with a single, precise trade.
The part most retail traders skip — and the part that separates a good hedge from a costly one — is the math. Not academic math. Practical math: using delta as a hedge ratio so you know exactly how much protection you actually have, and understanding theta decay so you know what holding that protection is costing you every day. We use those two inputs together to score a hedge before we put it on. That's the difference between managing risk and just paying for the feeling of safety.
What I care about most is that you walk away able to execute. Not just understand the concept, but open your platform, look at a live options chain, size the position correctly, place the trade, and know what to do when conditions change. That's why every module is built around real examples with real numbers — strikes, premiums, expiries, breakevens — and why the final module is entirely about rolling and adjusting, because a hedge you can't manage through expiration is an incomplete one. If you're ready to protect your portfolio with the precision and confidence of a professional trader, this is where that starts.
— Anthony Peter Dasaro
Start your journey today
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- 6 modules, 18 lessons
- AI-adaptive lessons tuned to your level
- Quizzes & checkpoints to lock in progress
- Your own AI learning coach
- Learn on any device, at your pace
- Full access for as long as you're subscribed