 This course is on income strategies and time decay strategies So we'll start with a discussion on what exactly our income strategies So income strategies are strategies that can perhaps produce a monthly income so what we do with income strategies is That we depend upon time decay and if we have to depend upon time decay if time decay has to work to a Benefit then we are looking at credit spreads So when we say credit spreads, we're looking at a bear call spread and a and or a bull put spread So what happens is we are going to put probability on our side will go out of the money and we can sell either a bear call spread or a bull put spread and on a daily basis You're going to see time decay Come into your account. Of course like with any other strategy the market can move against your position So we'll need to see what are the the proper adjustments and I think we've covered adjustments in the adjustments course You looked at how we adjusted price line In the last course, we looked at both a bear call spread as well as a bull call spread You would apply the similar adjustments, but when you do a credit spread You're going quite a bit out of the money So you do have room there and so the idea is that you can Withstand a little bit of temporary pain and even though your account might show a loss But bear in mind you have to let enough time to let time decay kick in and once you do that And in general you should see the effects of time decay coming into your account within a few days So maybe like five to seven days you should start seeing the effects of time decay come into that trade and as long as the movement has not been severe during that time You should see a positive PNL Balance as well if it moves too fast, you know right after you put the trade if it moves too fast against you Then you may need to adjust the more the time decay Works on your position them the less you will need to adjust so you need to give these positions some time and Assuming that they don't move very severely against you then time decay is working in your favor and Even after two two weeks or three weeks if some move happens Then you are in a much better position to adjust and your adjustment will also be a smaller adjustment And you'll be able to protect your profits that you've collected in the last