Udemy

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English

Language

Investing & Trading

Category

Master Iron Condors - Double the credit for half the risk

The Iron Condor is one of the most popular Options strategies, and it is the undisputed "King of Time Decay strategies".

4.45 (329 reviews)

Master Iron Condors - Double the credit for half the risk

Students

1.5 hours

Content

Dec 2019

Last Update
Regular Price

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What you will learn

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


Description

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

 

 



Content

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

CONCLUSION

Iron Condors Quiz

BONUS LECTURE - DONT MISS !!


Reviews

J
John29 September 2020

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.

R
Richard27 October 2019

The concepts are explained clearly and repeated so I'm able to add them to my thinking about options.

E
Eli15 June 2019

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

A
Andrew21 March 2019

Options trading can be extremely difficult, so it’s very helpful to have a good explanation of the various techniques, etc.

S
Sunil14 January 2019

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.

J
Jorge23 December 2018

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).

R
Robert8 November 2018

The instructor did a great job of explaining every detail without overdoing it. The examples were very clear and applicable to the course.

C
Collease20 October 2018

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?

J
Juan16 August 2018

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.

L
Len18 March 2018

A truly comprehensive explanation of the "trade analysis screen" and the changing of dates where you visualize the change of option prices. Great job !

P
Paul18 March 2018

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.

M
Matthew28 December 2017

A very enjoyable course. The instructor goes over the basics of the Iron Condor, how to set it up, how to make adjustments etc;

J
Jon25 June 2017

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.

M
Michael15 June 2017

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.

S
Steve20 May 2017

Great insight on strategies to adjust an iron condor when the underlying price action challenges one of the sides.


42643

Udemy ID

2/20/2013

Course created date

11/21/2019

Course Indexed date
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