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Cutting Shad fillets is just about like filleting any other fish and this is how I do it.
First scale the shad gently and make a cut right along the top of the ribcage like this.
Then turn the knife and fillet the meat off the backbone like this.
This is what the shad looks like after I've filleted it on one side
I'll then flip it over and scale it then fillet the other side as well. I also use the head sometimes so one shad will make 3 baits for winter fishing.
The hook that's going through the eyes on the left is an L042 Eagle Claw ... the one on the right is a
VMC 1/0 V7381BN which is my favorite hook for winter fishing below keystone dam. Here you can see how I hook the fillets and the heads.