The Ultimate Adjustment and Repair Playbook– Noah Davidson Trading Course

The Ultimate Adjustment and Repair Playbook by Noah Davidson focuses on managing trades after entry. It applies flexible rules to options, stocks and spreads in rising, falling and flat markets.

The course includes videos and spreadsheets, with examples and case studies illustrating trade management decisions.

Trade management skills covered

• Learn to apply a systematic decision-tree framework for trade adjustments.
• Master naked puts to generate income and entry opportunities.
• Utilize dynamic stock strategies like protective puts and covered calls.
• Explore advanced techniques for long calls and maximize bullish moves.
• Implement long puts for portfolio protection during market downturns.
• Discover how to use credit spreads to generate income while limiting risk.

A decision-tree approach to trade management

Rather than concentrating only on trade entry, Davidson examines how to respond as a position develops. His framework uses price action, volatility and market structure to guide choices such as holding, rolling, hedging, adjusting or exiting.

The aim is to replace ad hoc decisions with trading rules that can be applied to live portfolios.

The seven course modules

Module 1: The decision tree framework

The first module introduces a step-by-step model for planning and executing adjustments. It covers rules for different market conditions and the choices involved in holding, rolling, hedging or closing a position.

Module 2: Naked puts

Explore selling puts for income and potential stock entry at prices where you are willing to own shares. The module also examines the risk and reward calculations behind naked puts and margin management in relation to assignment.

Module 3: Dynamic stock strategies

Study protective puts, covered calls and collars as ways to balance income and downside protection. Davidson explains how protective puts can protect stock holdings, how covered calls can generate cash flow, and how collars combine the two approaches to protect gains and limit downside exposure.

The module also connects these techniques through the Cash Flow Cycle.

Module 4: Long calls

This module examines long calls as a way to participate in bullish moves, including when buying calls may be considered instead of trading stock directly. It covers the effects of time decay and volatility, along with exit and adjustment techniques for managing gains.

Module 5: Long puts

Learn how long puts can be used for downside exposure or as insurance for stock positions. The lessons discuss an alternative to shorting with margin risk and the construction of defensive positions during volatile markets.

Module 6: Credit spreads

Explore selling premium through vertical credit spreads and the risk-reward structures involved. Davidson also covers guidelines for timing, entering and adjusting spreads as market conditions change.

Module 7: Advanced trade adjustments

The final module brings the techniques together in the Adjustment Playbook. It covers rolling options forward or out in time, changing directional bias as markets shift, and combining defensive and offensive tactics within a trading system.

Building a trading plan

The course connects adjustment decisions with position sizing, timing and market exposure. It also addresses capital protection and the development of a trading plan grounded in rule-based logic.

Trading options and stocks involves risk, including the risk of loss.

Who the playbook is for

The material is intended for active traders managing options positions, investors exploring income strategies, and traders interested in reducing drawdowns and managing portfolio risk. It is particularly suited to intermediate and advanced traders moving beyond entry-level strategies.

About Noah Davidson

Noah Davidson is a trader and educator with more than two decades of trading experience. His teaching emphasizes data-driven market strategy, risk management and turning complex trading concepts into actionable systems.

Frequently asked questions

What does The Ultimate Adjustment and Repair Playbook cover?

The course covers a decision-tree framework and adjustment techniques for naked puts, stock positions, long calls, long puts and credit spreads.

Who is the course suited to?

It is aimed primarily at intermediate and advanced traders, active options traders and investors interested in risk management. Beginners can also follow the material with dedication.

Does the course include examples?

Yes. The lessons use examples and case studies to illustrate the application of trade management techniques.

What materials are included?

The course materials include videos and spreadsheets.