Iron-condors-20121018.pdf

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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?  

graph  

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    

graph  

Trading  Plan  and  adjustments?   •  Adjust  or  not  to  adjust?   •  How  to  make  a  plan?   •  Technicals  to  enter  and  exit  trades?  

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