Master Iron Condors - Double the credit for half the risk
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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.
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|Section 1: Introduction to the Iron Condor Strategy|
|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|
|Section 2: Putting an Iron Condor on Apple (AAPL)|
|A detailed analysis of an Iron Condor trade on Apple (AAPL), before the trade is executed.|
|Section 3: Iron Condor Trade Management|
|After we put the Iron Condor on AAPL, what is the stock doing and how do we manage this position.|
|The mechanics of how the Iron condor makes a profit, and what are the considerations for a great exit on the trade|
|Section 4: Iron Condor adjustments|
|An overview of the two most common (or simple) adjustments for the Iron condor.|
|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|
|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.|
Iron Condors Quiz
Knowledge. Strategy. Execution.
Hari Swaminathan is the founder of OptionTiger, a cutting-edge Options education and trading company based in Washington D.C.. Hari is an entrepreneur, everyday person and a self-taught Options expert for over 8 years. Hari has a Bachelors degree in Engineering from India, and MBA degrees from Columbia University in NYC and London Business School in the U.K.
More than ever, its become important for everyday people to take control of their financial situation, and create additional income in a smart, risk-controlled manner. This is precisely my mission. Through knowledge, education and investment discipline. Options are powerful, but they have a learning curve. I've broken down all the complexities of Options in simple language that everyone can understand. The courseware uses real trade examples, always highlighting the pluses and minuses of every investment situation. Options provide the best way to take advantage of bull cycles, bear cycles and everything in between.
As someone that has self-learnt Options and through making mistakes, 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 and not lose money during this time.
Having said that, if you can get past the first 12 months and acquire the expertise in a systematic manner, true financial independence awaits. Options are a mathematical and strategic game much like Chess, and no amount of technological advances can make this skill obsolete, because the fundamentals of Options are never going to change.
You can trade Options from anywhere in the world, regardless of how old you are. You never have to worry about job security any more because you have a skill that can produce consistent wealth month after month.
But you have some serious but exciting work to do before you can get there, and I'm here to help you in this journey.
Watch my Free Course for Options Trading Beginners where I draw out a detailed roadmap of what this 12-month journey looks like, and the specific strategies you should master during each step of this learning process.
Watch my Free Mini-courses or my YouTube channel , all of which have the highest quality of education material.
And join me in my UDemy courses, where I share cutting-edge theoretical knowledge mixed with practical insights, strategy and impeccable execution through live trading examples.
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.