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?
>


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