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Fri, Apr 17th, 2026

Fri, Apr 17th, 2026

Darren Carlat

Darren Carlat

Darren Carlat is the Managing Director of the Bull Strangle Newsletter, overseeing market research, customer satisfaction, and  operations management. He graduated from Washburn University in Topeka, KS, with a Bachelor’s degree in Business Administration  and a major in Accounting. 

In 1986, he began a 32-year career at Frito-Lay, Inc., a snack food producer and distributor that is part of PepsiCo Inc. Before retiring  in early 2018, Mr. Carlat was an Executive in Supply Chain Operations at the company's headquarters in Plano, TX, where he  managed demand forecasting, production scheduling, replenishment planning, and other supply chain activities. 

Mr. Carlat has developed, programmed, and tested various trading systems for decades.  

  • In 2010, he completed initial development of a seasonal spread trading strategy, which he has continually refined and improved.  This trading system forms the basis of all his managed futures programs and is used for his own trading activities.

  • In 2014, he founded SpreadEdge Capital, LLC, registered it as a Commodity Trading Advisor (CTA), and started offering the program  to the public. 

  • In 2018, he retired from PepsiCo and is now dedicated to trading full time and remains one of the largest investor in the Diversified  program. 

  • In 2020, he began developing a stock option trading strategy, which he continues to refine and improve.  • 

  • In 2025, he launched the Bull Strangle Newsletter, allowing subscribers to trade the same strategy he uses in his personal account. 

Most Recent Stories

A Practical Framework for Filtering and Selecting Seasonal Spreads

The edge in seasonal spreads doesn’t come from finding more trades—it comes from filtering out the wrong ones. This article outlines a practical framework using objective metrics to identify stable,...

Stability Over Excitement: What DAL and JD Reveal About Trade Selection

Successful options income trading starts with stock selection—not just strategy. This week’s watch list highlights DAL and JD.com, two stocks moving toward more stable price behavior, and why that...

Why a Smaller Stock Plus Option Selling Portfolio Outperformed a Larger One

The answer wasn’t capital—it was selection. New analysis shows how constraints unintentionally improved performance by filtering out inefficient trades.

Why Trade Selection Matters More Than Trade Management in Spread Trading

Is trade management overrated? A deeper look at spread trading suggests selection matters far more than most traders think.

Building a Smarter Options Watch List: Why Stock Selection Still Matters

What separates strong options income trades from the rest? It starts with the stock. See how Cisco and HSBC fit the profile.

Do You Need a Big Account to Trade Stock + Options Strategies?

We compared two portfolios using the same rules—and the results may surprise you.

Pfizer (PFE) and Iron Mountain (IRM) lead the Bull Strangle watch list for this week

Before selling options, the most important decision may be choosing the right stock. This article discusses the screening process behind the Bull Strangle Watch List and examines two stocks currently displaying...

Two Stocks From the Bull Strangle Watchlist Showing Interesting Setups

Stock selection is critical for options income strategies. This article highlights two stocks — MGM Resorts International and Southwest Airlines — and explains why their recent price action may create...

What a Rising VIX Means for Options Income Traders

Many investors view a rising VIX as a warning sign for the market. Options income traders often see it differently. Higher volatility increases option premiums and can improve the economics of selling...

How Professional Traders Use Calendar Spreads to Reduce Volatility and Improve Consistency

Professional traders often rely on calendar spreads to reduce directional volatility and improve consistency by trading relationships rather than outright price movements.

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Will the Stock Market have a red day next week?
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