The Zero Extrinsic Hedged Back Spread (ZEEHBS) was created by Tony from Mexico (@TFMtrades on Twitter). The trade essentially is a zero extrinsic long straddle with the risk shifted to the downside. Trade wins with any up move or a crash to the downside. The ZEEHBS consists of bull back spread and hedged at 50%. The example is shown with the S&P 500 but can be used for any index (NASDAQ, Russell, DOW) or stock you are bullish on. 0 DTE Backtesting Software (50% Off First Year with Link): https://optionomega.com/register/IncomeOptionsTrading SPX Automatic (Bot) Trading (Extended FREE trial of 30 days, no CC needed for signup) [TAT]: https://tradeautomationtoolbox.com/sign-up.aspx?r=IncomeOptionsTrading Want to setup a tastytrade account? Use my referral code: https://start.tastytrade.com/#/login?referralCode=WVCH5NYFNN Website: https://www.incomeoptionstrading.com Resources to improve your trading: https://store.incomeoptionstrading.com/ Twitter: @decke192 Facebook Group: https://www.facebook.com/groups/451265439351916/?ref=share Private Discord Server: https://www.youtube.com/@IncomeOptionsTrading/join Subreddit: r/IncomeOptionsTrading See website above for full disclaimer. This video is for educational purposes only and is not a trading recommendation or advice. I am not a registered financial advisor. 0:00 ZEEHBS Intro 0:10 Risk Profile 0:40 ZEBRA 1:21 Why the ZEEHBS? 1:35 Underlyings to Use 2:10 The ZEEHBS Trade Setup 7:08 Valley of Death 8:03 Adjustments 14:09 ZEEHBS vs Straddle