Iron Condor Class
Class Descrip0on • Cost $397 Class starts this Wednesday October 24 • 4 weeks Wednesday and Friday at 1 pm central, all classes recorded and archived • Class dates Oct 24 , 26, 31 Nov 2, 7, 9,14,16 plus follow up class with Dan • I will teach 3 of 8 classes plus follow up and the remaining 5 sessions by 5 of the top Iron Condor Traders in our Community • SoMware op0onal for $50 • E-‐mail in ques0ons and live during class
Iron Condors • • • • • • • • • • •
What are they? Why do them? What vehicle to use Iron Condor frequently asked Q and A Different types of Iron Condors? Iron Condors versus just Credit Spreads? Iron Condors versus Strangles? Greeks of Iron Condor? Enemies of Iron Condors? Iron Condors for 2011 and 2012? Iron Condors 2008?
Iron Condors • • • • • • • •
Live Trade execu0on Leg into Iron Condors? Scale into Iron Condors? Trading Iron Condors in LOW IV environment? Adjust versus No adjust? How to develop a Trading Plan Different adjustment philosophies? Do you use technicals to enter and exit trades?
What is an Iron Condor?
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Why do Iron Condors • Probabili0es ( Philosophy) • Monthly Income
What vehicles to use • RUT, SPX, NDX, SPY, IWM • Stocks-‐ over $80 and stocks you would be comfortable owning in re0rement account. IBM, AAPL, AMZN. Stay away from earnings.
Frequently asked Iron Condor ques0ons Trade every month? Same vehicle every month? Size of trade? Trade the same way every month? What about 15 VIX? What about 30 VIX? • Adjustments? Do we have to adjust? • Same adjustments every month? • • • •
Different Types • HPC • LPC • TOS Version
HPC
Probabili0es?
HPC versus LPC
Probability versus risk/reward
HPC versus TOS version
Tradeoff Probability and R/W
Iron Condor versus Credit Spread
Margins?
Strangle
Do you watch John Wayne Movies?
Iron Condor HPC VS strangle?
Hedged?
Greeks of an Iron Condor
Enemies of iron Condors
Iron Condors 2012
IV levels 2012
Iron Condors 2008
IV levels 2008
Live Trade Execu0on • Legging into Iron Condors • RUT December 870-‐880 calls 730-‐740 puts • Scale into Iron Condors?
Trading IC in low IV?? Geneva
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Trading Plan and adjustments? • Adjust or not to adjust? • How to make a plan? • Technicals to enter and exit trades?