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The $27K Illusion — Buffer Trade (-1 +1 -1) vs. Pure Premium Short Put

Two trades. Same expiration. Both quote a credit near $27K. They look like cousins on the order ticket. They are not.

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SQTC Squared T Capital Online
Apr 26, 2026
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Two trades. Same expiration. Both quote a credit near $27K. They look like cousins on the order ticket. They are not.

One pays you for time and probability. The other pays you partly for t…

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