Thanks man, great video. I used the jade lizard and an "up and out" strategy a few years back on a large iron condor(5 contracts ) on the SPY that saved my assp. I ended up making about 250 bucks but it took about 8 months. It's a legit strat but you can get hit on a margin call pretty easy on the downside. I use the Jade lizard when one of my condor wings gets caught "holding the bag". It works!
Seems harmless lol. If the odds are on your side (75% chance every time), you will win on 3 out of 4 trades. That fourth trade wants to take away all your gains from the other three trades. But, using loss mitigation skills (which I'm learning from you), one should be able to lessen the impact of Trade #4 losses for an overall (and very good) net gain over time using this strategy and other similar ones. It's interesting and I'm hoping to master the needed skills. I need to watch more of your live trade videos.
Yes trading is mostly about defense in my opinion. You can have a series of nice and easy winners, but one massive loss can wipe it all away. So knowing what to do in losing situations is critical...my approach would be to short shares of stock if the put strike got breached.
You get the chance to draw more premium on the trade in a stock trading sideways or moving down. As long as you're doing this on stocks you wouldn't mind owning and are confident in you can let the put get assigned and start wheeling the stock should it move down, while also collecting more premium. In the event it moves up you'd be gaining less than selling naked puts, but there's always a trade off.
@@scottreesetradinginvesting7936 Sure thing. Just subscribed to your channel. It's funny I just sold my first Iron condors this past week and was just thinking "what if I do the same thing but don't buy a protective put and just wheel the stock if I get assigned? More premium collected and reduces or eliminates the upside loss". Then I see your video.😂 Good content.
There actually are advantages over selling pure puts…higher credit received and a more neutral position in terms of Delta. But if you think it’s stupid, then you don’t have to use it :)
The Jade Lizard is great strategy to add to your toolbox that has NO upside risk. Perfectly safe to use in this current runway bull market :)
Exceptionally clear and concise, thanks!
Thanks man, great video. I used the jade lizard and an "up and out" strategy a few years back on a large iron condor(5 contracts ) on the SPY that saved my assp. I ended up making about 250 bucks but it took about 8 months. It's a legit strat but you can get hit on a margin call pretty easy on the downside. I use the Jade lizard when one of my condor wings gets caught "holding the bag". It works!
Seems harmless lol. If the odds are on your side (75% chance every time), you will win on 3 out of 4 trades. That fourth trade wants to take away all your gains from the other three trades. But, using loss mitigation skills (which I'm learning from you), one should be able to lessen the impact of Trade #4 losses for an overall (and very good) net gain over time using this strategy and other similar ones. It's interesting and I'm hoping to master the needed skills. I need to watch more of your live trade videos.
Yes trading is mostly about defense in my opinion. You can have a series of nice and easy winners, but one massive loss can wipe it all away. So knowing what to do in losing situations is critical...my approach would be to short shares of stock if the put strike got breached.
I would say wheel this and the twisted sister and maybe we have something? What is your opinion
I'll give you my opinion once I know what the "twisted sister" is haha. Can you please explain briefly?
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vyn.fyi
such bad strategy, Iron condor is much easier and simple, huge risk , and big headache
I disagree, but we’re all entitled to our own opinions :)
You get the chance to draw more premium on the trade in a stock trading sideways or moving down. As long as you're doing this on stocks you wouldn't mind owning and are confident in you can let the put get assigned and start wheeling the stock should it move down, while also collecting more premium. In the event it moves up you'd be gaining less than selling naked puts, but there's always a trade off.
@@chessguy1993 Yup excellent points! I appreciate you laying all that out :)
@@scottreesetradinginvesting7936 Sure thing. Just subscribed to your channel. It's funny I just sold my first Iron condors this past week and was just thinking "what if I do the same thing but don't buy a protective put and just wheel the stock if I get assigned? More premium collected and reduces or eliminates the upside loss". Then I see your video.😂 Good content.
@@chessguy1993 Haha quite a coincidence! I’m glad you enjoyed the video, and thanks so much for subscribing! Plenty more content to come :)
A STOOOPID strategy….absolutely no advantage over selling pure puts ….people think it’s a good strategy just because 2 good looking women endorse it….
There actually are advantages over selling pure puts…higher credit received and a more neutral position in terms of Delta. But if you think it’s stupid, then you don’t have to use it :)