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The is a real life credit spread inspired by the writings of Fujisan.
Read the details right on the multiple collage chart.
I think it will bring it home to you...how to make money on options, and capture some of that theta burn for yourself, without taking absurd risk.
Let me know if you like this. There will be some butterflys and condors coming up. In fact I did on on condors a while back...check it out, pretty funny, an Iron Condor on /ES.
http://oahutrading.blogspot.com/2009/06/iron-condor.html
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Insightful and Useful Comment!