4.45 (329 reviews)
☑ Understand what an Iron Condor strategy is
☑ Master the trade setup criteria for an Iron Condor
☑ Understand the profit mechanics from an Iron Condor
☑ Why the Iron Condor is one of the most popular strategies of professional traders
☑ What are the danger points in an Iron Condor and how do we deal with them
☑ What are appropriate adjustment strategies for Iron Condors
☑ How do we manage the losing the side of an Iron Condor
☑ What is "rolling a spread" and how can we roll a losing side profitably
THE IRON CONDOR STRATEGY - KING OF TIME DECAY STRATEGIES
The Iron Condor Spread is one of the most popular trades of all Options trades, and it is the undisputed "King of Time Decay or Income strategies". It is special because you get to double the premium collected, reduce your risk levels as compared to normal credit spreads, double the amount of time decay, and maintain a delta neutral position, at least when the trade is first put on. The negative with the strategy is that it's a heavily Vega negative position. We dissect the Iron Condor in this trade, put on a real trade on AAPL, and take it through a couple of weeks. We analyze the risks, set adjustment points, and discuss suitable adjustment strategies for different market situations as the trade develops.
What you will master
How do we construct an Iron Condor
Why choosing the right strike prices are important for the Iron condor
Should we try to make it a delta neutral trade and why
What are its special characteristics
How is the premium doubled
Why is the Iron Condor a popular trade
Why are margin requirements less on an Iron Condor
What should we watch for in terms of Vega exposure
What are good adjustments for an Iron Condor
When do we use the simple adjustments and when do we use the complex one
Is Rolling an Iron condor leg a viable strategy
What are the options if we don't want to roll a losing Iron condor leg
Why is there an automatic profit component in an Iron Condor
How can we optimize the entry of an Iron condor
Introduction to the Iron Condor Strategy
What is an Iron Condor and why is it a popular strategy
Putting an Iron Condor on Apple (AAPL)
General Iron condor setup guidelines..
Trade setup of the Iron Condor
Iron Condor Trade Management
Managing the Iron Condor to a successful exit
Iron Condor adjustments
Iron Condor adjustments
Rolling an Iron Condor leg to the next month
Iron Condors Quiz
BONUS LECTURE - DONT MISS !!
Overall good explanation on condors and what they are. Would have liked a little more precision on when to roll or manage a position. Understand its a bit subjective but rules of thumb would be helpful.
The concepts are explained clearly and repeated so I'm able to add them to my thinking about options.
An exciting topic which whilst an advanced strategy, I did enjoy learning as it was so well presented by Hari. Needless to say, I plan to re-play this course all over again, to gain more understanding while I paper trade along the way
Options trading can be extremely difficult, so it’s very helpful to have a good explanation of the various techniques, etc.
If the tutor would have given a live example from Indian Market especially Nifty-50 could have a better understanding Should have in-depth explanations about the adjustments,that is where most of the trader fail.
This instructors basic courses are quite good, it goes into enough details to not overwhelm beginners. However the advanced course in Iron Condor are not very advanced, does not go into enough detail on actual trade; it is just a few short lectures on explaining the basic ideas; does not have in-depth adjustments (have the necessary mentions for the theoretical side).
The instructor did a great job of explaining every detail without overdoing it. The examples were very clear and applicable to the course.
i ENJOYED THE DEMONSTRATION, SINCE THIS IS SLIDE TWO, i MAY BE JUMPING THE GUN BY ASKING YOU HOW DOES ONE EXIT AN IRON CONDOR?
I really enjoyed the course and it was very enlighting. My only suggestion is I would like to see more real-world examples on the Think-Or-Swim platform.
A truly comprehensive explanation of the "trade analysis screen" and the changing of dates where you visualize the change of option prices. Great job !
Very solid course with some nice adjustment techniques and strategies to consider when one of the wings of the condor is being challenged. Hari does a good job highlighting the important components of the strategy and spends time at the end concluding and summarising the key components and learnings.
A very enjoyable course. The instructor goes over the basics of the Iron Condor, how to set it up, how to make adjustments etc;
The information was communicated clearly and concisely. I appreciated the live trade example. I think the course would benefit from another example trade where things go really poorly. Perhaps more advice on how to repair bad positions would be good. Overall, this was a good basic introduction to IC's, provided you are fluent in options, and preferably vertical spreads.
Good basic overview of iron condors. I was hoping for more on how to "master" the strategy: underlyings to trade, underlyings to avoid, environments to employ, environments to avoid. Instructor did a good job of going over TD's tools, but a lot of the info can be found elsewhere for free. The one takeaway that I got was to trade at a delta of .15 or lower. A lot of this is available via Tastytrade.
Great insight on strategies to adjust an iron condor when the underlying price action challenges one of the sides.