Profiting With Iron Condor Options: Strategies From The Frontline For Trading In Up Or Down Markets (Paperback) Download Free (EPUB, PDF)
In a straightforward approach, Hanania Benklifa provides readers the practical knowledge needed to trade options conservatively in Profiting with Iron Condor Options: Strategies from the Frontline for Trading in Up or Down Markets. The objectives are simple: make 2%-4% a month staying in the market as little as possible. Market experts use option condors to consistently earn monthly returns while trading conservatively and staying in the market as little as possible. Benklifa--who manages $10+ million in condor trades each month--shows you exactly how to run these trades and earn these returns, delivering all the details you need to master every nuance of this remarkable strategy. Benklifa shares option condors examples using market realities, not oversimplified abstractions. You’ll learn how to handle real-life market dynamics that can dramatically impact results, including rising and falling volatility, changing bid-ask spreads, and distorted call parity. You’ll learn how to profit in the sideways markets where condor options are most widely used--and also in extreme-trending markets that offer their own surprising opportunities. Traders who focus on a specific type of trade have a history of outperforming stock pickers and directional investors. This book will give you that deep and usable level of knowledge about one of today’s most well-proven strategies: option condors.
Paperback: 208 pages
Publisher: FT Press; 1 edition (October 23, 2015)
Language: English
ISBN-10: 0134394607
ISBN-13: 978-0134394602
Product Dimensions: 5.3 x 0.6 x 7.9 inches
Shipping Weight: 12.6 ounces (View shipping rates and policies)
Average Customer Review: 4.3 out of 5 stars See all reviews (90 customer reviews)
Best Sellers Rank: #222,388 in Books (See Top 100 in Books) #80 in Books > Business & Money > Investing > Options
The iron condor is basically an option trade that involves selling and buying two out-of-the money calls and two out-of-the money puts in the same month for one stock or index. Actually, you are really putting on two vertical spreads, one on each side of the current price of the stock or index.The author favors trading the SPX, RUT, and NDX mainly for reasons of liquidity and the fact that as European-style options you do not have to worry about exercise prior to expiration date. Interestingly, the back cover stresses the ability to earn consistent returns very month with "surprisingly modest risk," but the author himself states early in the book that this should not be considered to be an income strategy and then he goes on to stress that there are a lot of risks with this strategy. In fact as he explains, those risks make it imperative that the trader keep a watchful eye on both "wings" of the condor so that adjustments can be made as needed. This is definitely not one of those trades that you can put on and then just check every week or so.Although many traders who use spreads typically like to leave their trades on for as long as possible in the hopes of keeping most, if not all of the amounts that they were credited when the trade was opening, this author actually recommends against holding trades open for this long. He definitely is more in favor of going for singles rather than home runs. For example, he claims that "the exit strategy that works best is to give back almost all of the credit. If you take in an initial 16% credit and keep only 3%, 4% or 5%, you're giving back most of the potential profits. How many trades have you made that can consistently make profits of 3% in a few days regardless of the direction of the market?
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