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How to Adjust an Iron Condor by Rolling when Trading Options Ep 250
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- Опубликовано: 21 авг 2019
- In this video, you're going to learn new strategies when it comes to Iron Condor adjustments. We will focus on Rolling an Iron Condor.
You'll find out what is the point of adjustment and how to look at adjustments on a trading platform. We're going to analyze and go through the entire process so you can trade options like professional.
#tradingoptions #ironcondor #tradingadjustment #optionsadjustment #tradeadjustments #optionstrading
Posted at: tradersfly.com...
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Sasha, very nicely explained, thanks.
Awesome! Thank you so much
Great ideas. I'm just facing a tested put side of an IC and will be selling an additional call credit spread. Thank you for sharing.
I hope it went well - thanks for watching!
will I get any profit if I close Iron Condor contracts before exp date. Lets say I opened contracts 2 weeks before exp date and closed them in 1 week. Asset price is still in btw of the channel markers
Yes you can close it out early with a profit
Wondering if you can do another video explaining this on the Robinhood platform where a lot us newbies are? I didn't know you could sell the losing half of the short iron condor before expiry.
Is it still possible to be profitable using this stratedgy? Or is it only used to mitigate losses?
Great Stuff
Great content :)
i say close the winning side for a guaranteed profit locked in and sell a new one closer in to reduce max loss. The goal here is to lose less not keep locking in losses. If the stock reverses repeat.
Does DTE matter when rolling? IE. If I am 40 days out, is it better just to leave it alone? whereas if we are 10 DTE to expiration, we would roll? Please address DTE as a consideration.
Well if you would leave it alone would depend on the position versus the initial setup. However yes days until expiration does matter. But you still might adjust a 40-day iron condor depending on the position. You just might adjust it differently than a 10-day iron condor or days remaining.
TOS is good for selling Iron Condor. However, I'd like to have a tool which visually shows me the state of my IC contact day by day till the exp date. Also I'd like to model how profit would change if I do the Adjustment. Having alerts alarming the need for adjustment is useful as well. Could you recommend a tool for managing Iron Condor during its lifecycle?
Yes, Think or swim can do this
@@tradersflyofficial How??? thank you. Is this the analyze trade? I don't see an option to analyze or view the current trade visually??? Can you elaborate if you know? Thank you Sasha
When I sell Iron Condor in TOS I can control the whole trade Limit price, but not the individual trades. How exactly it works? How one limit price can control 4 trades in Iron Condor?
You can submit them as FOUR separate limit trades (legs), but if three get filled and one doesn't, then what? I am wondering the same as you. To more experienced TOS traders..Is this a legitmate concern or a moot point when selling an Iron Condor???
I read that Iron Condor strategy is good for an asset which is trading sideways. What strategy works for stocks which stay in a growing channel, such as AAPL?
That would depend on how you set up an iron condor.... For example, You can set it up as a bullish strategy with 6 puts and 2 calls
@@tradersflyofficial I did Iron Condor for qty 10.
I also did another strategy for qty 1. Now, Analyze tab shows me combined short put for qty 11 (it was the same strike and exp data in the strategies). But I want to manage my two strategies independently.
Sell a "Bull Put Spread" when you believe your stock will keep going up (Bullish). You will win the trade if the stock goes sideways OR goes up! You can also buy to close the trade once you have a comfortable percentage of premium earned. For example, some traders will sell a bull put spread for $2.00 and buy to close once the premium reaches $1.00 (or a 50% profit of your premium). If you are at 80% of your premium, I'd recommend buy to close. It's not worth the risk to stay in the trade just to capture a additional .40 cents once you've already guaranteed 1.60 cents, given the example trade I just mentioned here. If the stock moves against you later, and you lose your gain, you may regret it. Take the 80% and move on. Some traders even set their profit to 50% of premium as I mentioned above.
Wait a minute, by adjusting the tested side your locking in your lost...Doesn't seem to make sense to do it this way
The alternative would be to let it keep going against you and possibly getting in the money and then assigned
lets imagine your original IC gives you $2000 profit. After widening the channel range you profit will drop to lets say 800. Yes, less money, but still profit. If you let the price to go outside of the channel it will be loss, maybe -5000
Won't this adjustment cause a wash sale?
Are you referring to the taxes or the trade as a loss...
@@tradersflyofficial Taxes, or both I guess. Can the loss be deducted from the gains for tax purposes, or is it considered wash sale?
Roll the losing side: just the opposite of Kirk and Projectoption.
Exactly. Why would you touch the winning side if it's winning? of course you could touch the winning side if you like but that's just a matter of personal preference. There's nothing wrong with doing one or the other. The problem is sometimes if you roll the winning side now you have the inversion risk where let's say it goes against you and now you took a good side and turned it into a bad side. That's known as inversion risk and now your position is inverted since you basically have to take the winning side and bring it in closer creating more risk on that winning side
@@tradersflyofficial An iron condor has expensive built-in loss protection, so why put one on in the first place if you intend to adjust it manually? Put on a short strangle instead and buy back the losing side if necessary. A short strangle can be much more profitable than an iron condor. I have done a write up of this with illustrations that I'd be glad to pass along if I know where.
Of course a short strangle will be much more profitable than a iron condor but you're also using an exceptional or an excessive amount of capital. In terms of return on capital or the risk at hand it's actually quite significant and that's why sometimes just buying a long protection even deep out of the money is sometimes worth it unless someone is trading with a portfolio margin account. If you're training with a standard margin account it's typically a low yield on the risk
@@samallen4213 Hi Sam, may I see your illustration. nalinpr at yahoodotcom
@@threesn4748 Sorry, I seem to have lost that page.
Thats totally incorrect and your misleading your audience!! You roll the untested side for a credit!
You don't have to. When adjusting you can reduce risk or increase risk. You can roll the tested or untested side as long as you are tweaking your deltas