Master Iron Condors - Double the credit for half the risk
4.3 (151 ratings)
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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".
4.3 (151 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
1,409 students enrolled
Created by Hari Swaminathan
Last updated 5/2017
English
Current price: $10 Original price: $60 Discount: 83% off
5 hours left at this price!
30-Day Money-Back Guarantee
Includes:
  • 1 hour on-demand video
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I 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
View Curriculum
Requirements
  • Excellent knowledge of Credit spreads and all material before it
  • Excellent understanding of Time decay and Implied Volatility concepts
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

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  • 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

 

Who is the target audience?
  • This is an advanced level course, so students must be familiar with Credit spreads
  • Anyone wanting to create consistent monthly income strategies
  • Busy professionals who don't have much time to look at the markets but need a reliable risk-defined strategy for monthly income
Compare to Other Options Trading Courses
Curriculum For This Course
7 Lectures
01:09:44
+
Introduction to the Iron Condor Strategy
1 Lecture 05:38
What is an Iron Condor strategy, and why is it called an Iron Condor. This lecture explains the basics of an iron condor, its construction and analyzes the time decay and Volatility considerations. Please also see supplementary video
Preview 05:38
+
Putting an Iron Condor on Apple (AAPL)
2 Lectures 21:24

General guidelines for an Iron condor

Preview 10:34

A detailed analysis of an Iron Condor trade on Apple (AAPL), before the trade is executed.
Trade setup of the Iron Condor
10:50
+
Iron Condor Trade Management
1 Lecture 12:57
The mechanics of how the Iron condor makes a profit, and what are the considerations for a great exit on the trade
Managing the Iron Condor to a successful exit
12:57
+
Iron Condor adjustments
3 Lectures 29:45
An overview of the two most common (or simple) adjustments for the Iron condor.
Iron Condor adjustments
12:20

This is a more complex but very effective adjustment for Iron Condors. We show you exactly how to take a losing side of the Iron condor and "roll it" into the next month in a profitable manner, and in a way that recovers its current losses
Rolling an Iron Condor leg to the next month
10:45

A wrap-up of this amazing strategy. Includes a couple of advanced tips on how to maximize trade entry for Iron condors using a very nifty technique.
CONCLUSION
06:40

Iron Condors Quiz
5 questions
About the Instructor
Hari Swaminathan
4.3 Average rating
3,810 Reviews
30,358 Students
29 Courses
Options Mentor, Financial markets educator, Trader, Investor

Knowledge. Strategy. Execution.

Hari Swaminathan is the founder of OptionTiger, a cutting-edge Options Mentoring company, and a full-circle educator in all areas of Financial Markets, Hari has developed several proprietary Intellectual Property "methods and approaches" around enhancing base case Options strategies (which favor the Market Makers) and turns that deficit into a massive EDGE on the trader's side.. Like building a powerful Strategy "for all Option Strategies". 

Hari is self-taught in Options and actively trading these instruments for almost 10 years, mostly through trial and error. Trial and error in general, is an excellent method of learning, but applied in this context, trial and error CAN BE EXPENSIVE. My courseware focuses on this aspect mostly, so you can avoid losing money in the 1 to 2 years when you're learning. Yes, it does take that long, if not more. If the markets were indeed simple, you'd have everyone involved in it. Patience, Diligence, and Determination are what you need during this time.

Hari has a Bachelors degree in Engineering from India, and MBA's from Columbia University in NYC and London Business School in London UK. 

More than ever, its become important for normal people to take charge of their financial situation, and truly understand how financial markets, and the various asset classes, trading nuances really work. Investing in the financial markets is no longer a HANDS-OFF ACTIVITY. There's no point blaming financial advisors after the fact. Now, it's become crucial for everyone to do "their OWN homework", so you can decide for yourself whether something is good or risky. This is of course easier said than done, and that's exactly where we come in.

My mission is to educate everyday people on the deep, strategic underpinnings of the stock markets, and exploit that knowledge with the use of OPTIONS.  THERE IS NOTHING RANDOM about the markets. There are surprises all the time, but there's always a method behind every madness. And my goal is to get you to this point of understanding and awareness. That's when it starts to fit in. 

Knowledge, Education, Crafting Breakthrough strategy, Technical analysis, Following Smart Money, Risk management, Disciplined Money management, and near flawless Execution approaches are just a few of the crucial points emphasized in all the Courses. Video-based education courseware, Practical workshops, several elite proprietary Advanced systems, a 4-week Live Mentoring program are just a few things we offer. The goal is to provide a "full circle" education in the Markets, which is necessary before it starts "fitting in". 

Let's break down the Options game in a realistic manner. 

The Pluses

1. Options were invented out of thin air. And the people who invented them won Nobel Prizes for their invention (Fisher and Black). It is purely a "Mathematical" concept. 

2. This gives rise to very complex but interesting  analytical scenarios. It also gives us the ability to model Options with a set of tools like a car dashboard. This data is embedded in the mathematical formulas that underpin Options structure itself.

3. Because everything in Options is defined in mathematical terms, its also important to realize that OPTIONS will always be the same. Forever. Unless they discover serious flaws in the formulas and models used by these Nobel winners. 

4. Options and Chess have LARGE overlaps. You may agree that Chess is a game of "skill". It's a game of Strategy and depends upon how well you can plan (ahead) to attack, defend or take a neutral position. We also believe that Chess is strategy-focused and depends upon certain mathematical principles. Why or How do we know this - The reason we know its a game of skill is : Try to play 100 chess games with Kasparov or Anand. Normal people are almost guaranteed a loss in all 100 games. So it has to be a game of skill. And why do we know its underlying features are mathematics based. The fact that a computer like Deep Blue beat the GrandMaster Garry Kasparov in 1997.

5. Lastly, You MUST believe this completely -  Options, just like Chess, are a "skill set", and requires acquiring a deep set of analytical skills much more so than most skill sets in the world, and THEY can only be MASTERED over a period of time. Once you understand Options better, you'll realize how true this is. But, there is a very powerful light at the end of this tunnel. You build a skill set for life.  Age, Geographical location, Lifestyles, or Weather are no longer a barrier to creating consistent income streams, regardless of who you are, where you are, or how old you are. 

This is very POWERFUL stuff. 

Now let's look at the negatives. This is what most people will NOT tell you. Anyone that tells you Options are SIMPLE, and you can make extra ordinary income easily, is JUST NOT TRUE. I will tell you Options can be brutal if you simply apply speculative methodologies. And once you can develop a SYSTEMATIC approach to every situation (which is the Real Game), you'll be well on your way to consistent performance.


MINUSES


Options are easily the most fascinating financial instrument with several upside benefits, but also an equally powerful set of negatives. 

1. Options have a steep learning curve. Don't expect to become Kasparov in a couple of months. Market Makers who are 99% of the time, the counter party to all Options trades, are Options professionals, with 10 to 20 years of experience, in performing their "legal duty" of providing liquidity. 

2. If you're interested in Options, try NOT approach it with a mindset or requirement of making money. This is not only NOT going to happen, but its a recipe for disaster. It's like a student of Medicine wanting to practice their skills after 2 months of study. 

3) As someone that has self-learnt Options and through making mistakes from Trial and Error, I can tell you Options trading is not something you should take lightly. You will hear people talking of fantastic triple and quadruple digit returns. I'm here to be brutally honest with you - 

- Be very very careful in the first 12 months of Options trading. 

- This is when everyone is the most vulnerable to losing money. 

- Your main objective during this time is to focus on learning this craft 

Having said that, if you can get past the first 12 months and acquire the expertise in a Systematic manner with Systematic approaches to every situation, true financial independence awaits. But you have some serious but exciting work to do before you get there, and I'm here to help you in this journey. 

And join me in my UDemy courses, where I share cutting-edge theoretical knowledge mixed with practical insights, strategy and impeccable execution approaches, through live trading examples. How do we know it's all this (don't just go by my word). Check what 30,000 students have to say in 3100 Reviews, with almost 2800 of them being 5-Star or 4-Star

If you have any questions at any time, please feel free to message me on Udemy.

The order to follow on my Udemy courses

Comprehensive guide to Financial Markets, Investing and Trading

Options Trading Beginners Bundle (3-course Bundle)

Advanced Options Concepts

Options spreads and credit spreads Bundle

Technical analysis and Chart reading Bundle

After this, the order does not matter. You can take any of the courses as per your interest.