Sunday, January 31, 2010

Re: [TheOptionClub.com] Calendars and Iron Condors

 

Thank you. From trading ICs this past month I've discovered I don't want to be in this position again, so I've received a good education so far. Tonight I was wanting to look into either butterflies or Calendars, and then your email came through here.

Do you have any resources for learning to trade the way you do with Calendars or Butterflies?

Thank you again,

Mike

From: RobertH <robhansen5252@hotmail.com>
To: OptionClub@yahoogroups.com
Sent: Sun, January 31, 2010 11:04:05 PM
Subject: Re: [TheOptionClub.com] Calendars and Iron Condors

 

You may want to start with:

http://oiwebcasts. cboe.com/ portal/v_ h.asp

It's the 7th one down on the left.

Personally, I don't consider IC's to be conservative options stragegies. Too much money to be lost if things go wrong fast. I would sooner go with an iron butterfly and adjust as the market moves. You have a lot more credit to work with when making adjustments. Also, Calendars are very nice bets as well. I like to look at calendars as betting on a horse at the beginning of a race, and changing your bet halfway through. Gives you much better odds when you do it that way.

RFH

--- In OptionClub@yahoogro ups.com, Mike Cleveland <mikeandjody1996@ ...> wrote:
>
> Would you have any URLs where we can view Dan Sheridan's adjustment video that you mention below?
>
>
>
>
> ____________ _________ _________ __
> From: leobusc <leobusc@... >
> To: OptionClub@yahoogro ups.com
> Sent: Sun, January 31, 2010 2:54:51 PM
> Subject: [TheOptionClub. com] Calendars and Iron Condors
>
>
> I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.
>
> I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.
>
> For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.
>
> It seems if I can remain disciplined this plan can work even in a volatile market.
>
> My question are:
>
> Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?
>
> What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?
>
> Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?
>


__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

Re: [TheOptionClub.com] Calendars and Iron Condors

 

You may want to start with:

http://oiwebcasts.cboe.com/portal/v_h.asp

It's the 7th one down on the left.

Personally, I don't consider IC's to be conservative options stragegies. Too much money to be lost if things go wrong fast. I would sooner go with an iron butterfly and adjust as the market moves. You have a lot more credit to work with when making adjustments. Also, Calendars are very nice bets as well. I like to look at calendars as betting on a horse at the beginning of a race, and changing your bet halfway through. Gives you much better odds when you do it that way.

RFH

--- In OptionClub@yahoogroups.com, Mike Cleveland <mikeandjody1996@...> wrote:
>
> Would you have any URLs where we can view Dan Sheridan's adjustment video that you mention below?
>
>
>
>
> ________________________________
> From: leobusc <leobusc@...>
> To: OptionClub@yahoogroups.com
> Sent: Sun, January 31, 2010 2:54:51 PM
> Subject: [TheOptionClub.com] Calendars and Iron Condors
>
>
> I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.
>
> I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.
>
> For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.
>
> It seems if I can remain disciplined this plan can work even in a volatile market.
>
> My question are:
>
> Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?
>
> What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?
>
> Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?
>

__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

Re: [TheOptionClub.com] Calendars and Iron Condors

 

Renee, are you doing high or low prob iron condors in RUT? What are you short option deltas when you initiate the position? How many days before expiration do you put the position on? Do you get any input from VIX or RVX? I currently have an IC in RUT. My Feb short put is 560 and the delta was -13 when I put it on (RUT was at 618). Now, with RUT at 602, the delta has climbed to only -16. Doing OK, but I have to admit I'm a little nervous. When do you roll a threatened wing farther out? Do you look at deltas, or perhaps tech analysis with support, resistance, trend lines, fib numbers?

Thanks,
RFH

--- In OptionClub@yahoogroups.com, Reneehug@... wrote:
>
>
>
> Leo,
>
>
>
> I am also a big fan of Dan Sheridans but have chose instead to study with San Jose Options.  But your answer your questions.... I prefere Iron Condors, as long as the volalitility is high enough,  because it makes sense to me to sell a decaying asset instead of buying one.  I prefer the RUT because it has higher IV but takes more to move it since 2000 stocks making up the index.  I also put IC's on SPX & NDX but my favorite is the RUT.  I use these 3 indices because of the tax advantages of 1265 contracts.  I found the trick in not to get greedy.  To be happy with making 2/3rd of the initial credit and moving on.
>
>
>
> Here's wishing you success with your trades.
>
> Renee
>
>
>
>
> ----- Original Message -----
> From: "leobusc" <leobusc@...>
> To: OptionClub@yahoogroups.com
> Sent: Sunday, January 31, 2010 2:54:51 PM GMT -05:00 US/Canada Eastern
> Subject: [TheOptionClub.com] Calendars and Iron Condors
>
>  
>
>
>
>
> I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.
>
> I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.
>
> For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.
>
> It seems if I can remain disciplined this plan can work even in a volatile market.
>
> My question are:
>
> Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?
>
> What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?
>
> Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?
>

__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

Re: [TheOptionClub.com] Calendars and Iron Condors [1 Attachment]

 
[Attachment(s) from Leo included below]

Mike:

http://www.sheridanmentoring.com/index/method/c.events.html

I am not sure which one had the adjusting hints. Oh, wait I have the PDF (Guerilla Calendars)

Above are some links, not sure if it had this one.

Maybe others can add some other Dan Sheridan links on Condors and Calendars.

Also, please tell me what are your favorite Indexes for Calendars and Iron Condors and if you think tomorrow is to short a
time to first establish (20 days) a new Calendar or Iron Condor.

Leo

From: Mike Cleveland <mikeandjody1996@yahoo.com>
To: OptionClub@yahoogroups.com
Sent: Sun, January 31, 2010 5:01:11 PM
Subject: Re: [TheOptionClub.com] Calendars and Iron Condors

 

Would you have any URLs where we can view Dan Sheridan's adjustment video that you mention below?

From: leobusc <leobusc@yahoo. com>
To: OptionClub@yahoogro ups.com
Sent: Sun, January 31, 2010 2:54:51 PM
Subject: [TheOptionClub. com] Calendars and Iron Condors

 

I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.

I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.

For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.

It seems if I can remain disciplined this plan can work even in a volatile market.

My question are:

Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?

What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?

Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?



__._,_.___

Attachment(s) from Leo

1 of 1 File(s)

Guerrilla.Calendars.pdf
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

[TheOptionClub.com] Re: OptionsVue VS. OptionOracle

 

I am happy with OptionsOracle. I manage positions using Greeks, so that is plenty for me for now. Anyway, since it is free, you have nothing to lose by downloading it. I can vouch for the fact that it's clean--you will not be downloading viruses or other undesirable things. If it does not satisfy your needs, you can always purchase one of the other systems.

--- In OptionClub@yahoogroups.com, "clay" <clay@...> wrote:
>
> I'm familiar with OptionsVue and was about to buy their software and then I saw where OptionOracle by www.samoasky.com was recommended. Can anyone give me their opinion? Is it like OptionsVue? I was holding out for the software than Dan Sheridan is going to roll out in February, but if Option Oracle is free, then SOLD!
>

__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

Re: [TheOptionClub.com] Calendars and Iron Condors

 

Renee,

I'm curious to hear more about SJ Options.  Have you traded their "NEARLY RISK FREE NEW AGE CONDOR" or at least been shown what they're trading?  I don't expect anyone to publish proprietary work, I'm just keen to get unbiased opinions.


Adam <-- glad to not trade condors for the last two weeks. : )


On Sun, Jan 31, 2010 at 2:16 PM, <Reneehug@comcast.net> wrote:
 

Leo,

 

I am also a big fan of Dan Sheridans but have chose instead to study with San Jose Options.  But your answer your questions.... I prefere Iron Condors, as long as the volalitility is high enough,  because it makes sense to me to sell a decaying asset instead of buying one.  I prefer the RUT because it has higher IV but takes more to move it since 2000 stocks making up the index.  I also put IC's on SPX & NDX but my favorite is the RUT.  I use these 3 indices because of the tax advantages of 1265 contracts.  I found the trick in not to get greedy.  To be happy with making 2/3rd of the initial credit and moving on.

 

Here's wishing you success with your trades.

Renee

 


----- Original Message -----
From: "leobusc" <leobusc@yahoo.com>
To: OptionClub@yahoogroups.com
Sent: Sunday, January 31, 2010 2:54:51 PM GMT -05:00 US/Canada Eastern
Subject: [TheOptionClub.com] Calendars and Iron Condors

 

I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.

I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.

For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.

It seems if I can remain disciplined this plan can work even in a volatile market.

My question are:

Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?

What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?

Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?




--
Adam

__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

Re: [TheOptionClub.com] Calendars and Iron Condors

 

Renee, an you share which course you are taking with San Jose Options, and how it has helped? I've been considering them also.

Thank you.

Mike

From: "Reneehug@Comcast.net" <Reneehug@Comcast.net>
To: leobusc@yahoo.com
Cc: OptionClub@yahoogroups.com
Sent: Sun, January 31, 2010 5:16:34 PM
Subject: Re: [TheOptionClub.com] Calendars and Iron Condors

 

Leo,

 

I am also a big fan of Dan Sheridans but have chose instead to study with San Jose Options.  But your answer your questions... . I prefere Iron Condors, as long as the volalitility is high enough,  because it makes sense to me to sell a decaying asset instead of buying one.  I prefer the RUT because it has higher IV but takes more to move it since 2000 stocks making up the index.  I also put IC's on SPX & NDX but my favorite is the RUT.  I use these 3 indices because of the tax advantages of 1265 contracts.  I found the trick in not to get greedy.  To be happy with making 2/3rd of the initial credit and moving on.

 

Here's wishing you success with your trades.

Renee

 


----- Original Message -----
From: "leobusc" <leobusc@yahoo. com>
To: OptionClub@yahoogro ups.com
Sent: Sunday, January 31, 2010 2:54:51 PM GMT -05:00 US/Canada Eastern
Subject: [TheOptionClub. com] Calendars and Iron Condors

 

I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.

I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.

For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.

It seems if I can remain disciplined this plan can work even in a volatile market.

My question are:

Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?

What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?

Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?


__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

Re: [TheOptionClub.com] Calendars and Iron Condors

 

They are different strategies for different markets.  Calendars will work better if IV is relatively low and thn increases after trade put on.  IC are the opposite; they want volaility to decline.  These stragies complement each other though they both can gain from time decay.....Joel

From: leobusc <leobusc@yahoo.com>
To: OptionClub@yahoogroups.com
Sent: Sun, January 31, 2010 2:54:51 PM
Subject: [TheOptionClub.com] Calendars and Iron Condors

 

I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.

I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.

For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.

It seems if I can remain disciplined this plan can work even in a volatile market.

My question are:

Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?

What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?

Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?


__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

Re: [TheOptionClub.com] OptionsVue VS. OptionOracle

 

Dear Phillip: an relatively inexpensive fix is to buy some closer to the money verticals.  For example if short the 100 strike puts, consider buying the 110 105 or 115 110 put vertical.......A more expensive fix is just to buy the closer to the money put for example buy the 110 or 115 put.....Joel

From: Philip Wu <ptwu452@gmail.com>
To: OptionClub@yahoogroups.com
Sent: Sat, January 30, 2010 5:47:49 PM
Subject: Re: [TheOptionClub.com] OptionsVue VS. OptionOracle

 

Yes -- on TOS thinkback I was trying to see if I had a large IRON condor position back in Sept-Oct 2008, what
strategy could have mitigated significant loss due to the steep decline during that period... it was not intuitive with thinkback, assuming I used it correctly.  
 
Given the recent market declines, my IC positions is approaching the short put leg...perhaps Chris will give us some
ideas in his webinars on what to do in the present market conditions.. .hedge with vxx or vxz or vix or butterfly on the short put or buy a further otm put...just rambling...
 
Thanks.

On Sat, Jan 30, 2010 at 3:16 PM, tom stidham <tdstid1@bellsouth. net> wrote:
 

Option Explorer and OptionVue have outstanding backtesting – which makes for a great learning / educational tool.  I use TOS and love their platform – but their thinkback is very very basic and their On Demand is a work in progress, limited back data period – and is a ways from being a good tool.

 

Also when looking at possible adjustments OV and OE give excellent visualization both before and after the adjustment.

 

Tom

 

From: OptionClub@yahoogro ups.com [mailto:OptionClub@yahoogro ups.com] On Behalf Of Philip Wu
Sent: Saturday, January 30, 2010 10:01 AM
To: OptionClub@yahoogro ups.com
Subject: Re: [TheOptionClub. com] OptionsVue VS. OptionOracle

 

 

Hi,  what functions/capabilit ies does Options Explorer have that is not available on ThinkorSwim ?

 

Thanks.

On Fri, Jan 29, 2010 at 3:22 PM, tom stidham <tdstid1@bellsouth. net> wrote:

 

As a previous user of Options Oracle – there's nothing wrong with it – considering it is free.  I assume you are a Sheridan Options Mentoring Student and have had a chance to see Options Explorer – Dan's software..  There is no comparison of the 2.  OE on par / and exceeding in most aspects OV software. (IMO)  Options Oracle is not in either of the above products league.

 

It you are modeling adjustments, back testing, etc…… either OV or OE fill that need..

 

Tom

 

From: OptionClub@yahoogro ups.com [mailto:OptionClub@yahoogro ups.com] On Behalf Of clay
Sent: Friday, January 29, 2010 12:39 PM
To: OptionClub@yahoogro ups.com
Subject: [TheOptionClub. com] OptionsVue VS. OptionOracle

 

 

I'm familiar with OptionsVue and was about to buy their software and then I saw where OptionOracle by www.samoasky. com was recommended. Can anyone give me their opinion? Is it like OptionsVue? I was holding out for the software than Dan Sheridan is going to roll out in February, but if Option Oracle is free, then SOLD!

 



__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
.

__,_._,___
Posted by at No comments:

Re: [TheOptionClub.com] Calendars and Iron Condors

 

Leo,

 

I am also a big fan of Dan Sheridans but have chose instead to study with San Jose Options.  But your answer your questions.... I prefere Iron Condors, as long as the volalitility is high enough,  because it makes sense to me to sell a decaying asset instead of buying one.  I prefer the RUT because it has higher IV but takes more to move it since 2000 stocks making up the index.  I also put IC's on SPX & NDX but my favorite is the RUT.  I use these 3 indices because of the tax advantages of 1265 contracts.  I found the trick in not to get greedy.  To be happy with making 2/3rd of the initial credit and moving on.

 

Here's wishing you success with your trades.

Renee

 


----- Original Message -----
From: "leobusc" <leobusc@yahoo.com>
To: OptionClub@yahoogroups.com
Sent: Sunday, January 31, 2010 2:54:51 PM GMT -05:00 US/Canada Eastern
Subject: [TheOptionClub.com] Calendars and Iron Condors

 

I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.

I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.

For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.

It seems if I can remain disciplined this plan can work even in a volatile market.

My question are:

Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?

What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?

Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?

__._,_.___
The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

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Re: [TheOptionClub.com] Calendars and Iron Condors

 

Would you have any URLs where we can view Dan Sheridan's adjustment video that you mention below?

From: leobusc <leobusc@yahoo.com>
To: OptionClub@yahoogroups.com
Sent: Sun, January 31, 2010 2:54:51 PM
Subject: [TheOptionClub.com] Calendars and Iron Condors

 

I am thinking that I want to spend more of my efforts on Index Calendars and Index Iron Condors.

I have been watching as many of Dan Sheridan's videos (including the recent one on Option Club Thanks Chris)as I can find. So I know I have to be able to adjust on a timely basis.

For example Dan suggests a first adjustment on an Calendar when you are down 20% of your initial debit spread by replacing half of your calendars with calendars at the strike closest to the breakeven price.

It seems if I can remain disciplined this plan can work even in a volatile market.

My question are:

Do you prefer Calendars or Iron Condors, if you prefer one more than the other why?

What are your favorite indexes (SPY, SPX, RUT, DIA etc)and why?

Also, there are only 20 days left in February period would you play Feb or just wait a week and begin with a March Calendar?


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The goal of TheOptionClub is to provide a forum for members to work together for the purpose of furthering our individual understanding option trading.  All messages and postings, and any materials circulated are provided for discussion and educational purposes only.  No statement contained in any materials from TheOptionClub should be considered a recommendation to buy or sell a security or to provide investment, legal or tax advice.  All investors are encouraged to consult a qualified professional before trading in any security.  Stock and option trading involves risk and is not suitable for most people.  There is no guarantee that any information provided is accurate and, may in fact, be wrong.  It is understood that the participants in TheOptionClub have varying backgrounds and degrees of experience in option trading, and that regardless of experience each member is considered a student.  As such, any information distributed through TheOptionClub should be considered with a critical mind and not relied upon as an authoritative source.

To unsubscribe from TheOptionClub, send an email to:
OptionClub-unsubscribe@yahoogroups.com
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