New Super Iron Condor Option Strategy
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- เผยแพร่เมื่อ 27 ก.ค. 2023
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𝐋𝐞𝐠𝐚𝐥 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in an attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!
This is by far one of Henry’s best videos in my opinion, especially the first half. The only thing I differ on is leaving spreads open through expiration. If I can help it I always close spreads prior to expiration. No matter what. Excellent video, Henry!
Why you close speads always before expiration? To unwind potential tailrisk?
@@sed1991Leave money on the table for someone else to play with and not risking a good gain for pennies.
because robinhood will close it for less gain@@sed1991 they don't care about your profit
The perfect explanation of an iron condor. Loved, loved how you added fear and emotion to the mix of options trading. So many people have that. I have learned from watching your videos, other videos, time after time, and explaining how you can’t let emotions dictate your moves in options trading. Being patient and letting them ride. Thanks Henry.Excellent As usual.
For some, short-term investing in floating rates is simply a default position as they find that st markets.ocks are highly valued everywhere, meaning that perfection is often at a premium, which increases the risk for some thoughtful investors. It's not necessarily a matter of timing. For others, it's a way to build a neutral portfolio in a situation fraught with uncertainty.
For others, it's a way to build a neutral portfolio in a situation filled with uncertainty.
@@JoStewart-pr9kb Finding a good investment advisor goes a long way toward organizing and planning this. I recommend Dan Price CFA.
Wow, it's great to see other people trading with Mr. Danielle Price. After my fifth trade with him, I made one-half of my principal within a month and my portfolio grew substantially. I sincerely recommend that you try investing with him and I am sure you will never regret it.
This is not the first time I have heard about this gentleman and his trading partner. But I don't know how to contact him. I want my portfolio to be profitable for me. How do I contact Dan Price?
@@AllenTatum-rs2nd Well I will put his info below this comment. You can look up his name and you will see all you need to know about him
Daniel Price CFA
Awesome video. Thank you for sharing your knowledge with us!
Very good video, the set and forget mentality is spot on.
I began investing at the age of 33, primarily utilizing my hard work and dedication. Now at the age of 38, I am delighted to share that my passive income exceeded $100k for the first time in a single month. This advice is truly valuable, so don't hesitate to take action. Remember, it's not about achieving wealth quickly, but rather about building wealth consistently and persistently.
I am trading credit spreads in my spare time and making $2,000 per week. Whoever is reading this, remember one thing. Knowledge is wealth.
What is something to really watch out for that you wish you knew before?
Henry, I have watched so many of your videos, thank you for the help. I set up an iron condor for AA, meant to do AAL as per your videos, my bad, and I got put 100 shares of stock, really threw me for a loop. Obviously a bad iron condor from the start. Thanks for all you do. I will keep learning from you.
Love your videos man, I was wondering if you could make a video more in depth on what technical analysis indicators and methods you use. Thanks
Do you need to own the shares/cash to cover the put, or have level 3 trading to execute this strategy?
Hello, I have been watching your videos, which are great so Thank You. Which platform are you trading options on???
Hi Henry - do you have a option spreadsheet to keep track of profits/loss etc?
this was really well put together video. thanks henry
Glad you enjoyed it!
can you do a video on rolling iron condors when things go ITM?
Great video. But isn't it recommended to manage a 30 DTE short Iron Condor after 7 days rather than letting it expire worthless? If you're up 50% after 7 days you could close the option thereby limiting your exposure to Vega?
If I’m up 50% in a week I’m definitely closing. But typically it takes a longer for that to happen unless you get a nice decline in implied volatility.
Are there other criteria for selecting an underlying besides IV and BB? Isn't there a risk in assignment if you wait until the expiry date?
Lrcx is also great for credit spreads!
Henry, love your videos, learning so much while getting started on my options journey.
I'm having issues with strategies like this because I opened a Robinhood account years ago and never used it, so when I started trading I didn't have tier 3 options access. Now they won't grant me access.
If we can't use your link for a new Robinhood account to get tier 3 access, are there any tips for getting access? I would really like to be able to implement iron condor and credit spreads into my portfolio.
Thank you
Hi, Henry it would be very useful a video to explain what to do when your short leg is ITM .
What you will do? Close the position, roll, go inverted?
Many thanks for the great content! Could you please make a video on what may go wrong with this method? If it expires outside our range, are we obliged to buy or sell stocks based on our call and put buy/sell options? What happens if the price of the stock ends between our sell put and buy put, outside the break-even mark?
Great suggestion!
Hey Henry. Love your videos. Couple quick questions for you.
1. When you are looking at the bollinger bands in Yahoo Finance, you match the time period to the days to expiration, correct? If you are looking a 7DTE option, you would select 5D time frame in Yahoo and if you were looking at a 30DTE option, you would select the 1M time period in Yahoo, right?
2. When you were showing the example of the AMZN Iron Condor and calculating the return, you initially said it would be a 22.6% return ($113 earned premium/$500 cash outlay) but then later you said it would be close to a 30% return ($113/$387). But wouldn't the return be the first scenario because you need to secure $500 to get the $113?
Just making sure I'm calculating the return correctly?
Thanks again for all your 🔥 videos.
email uncle@investwithhenry.com
Henry love your content - before I take the leap and sign up - is doing a video on what times your group meets - best times of day to set trades, best times to look for ideas etc etc etc a possibility? I work waaaay too much and need to know when I should be planning work around the trading schedule that’s must condusive for being profitable - thanks
It's all recorded and posted and you can message me in the group anytime so time is not a factor in joining.
I would not look at where the price is in relation to the bollinger band, but the overall width of the band. If you sell an iron condor during a volatility squeeze (and the price is 'in the middle of the band'), look out.
So what is the minimum amount of money in a account needed to be consired a small account?
This is a very good setup for an iron condor. Just be careful never to put this trade on when earnings are being reported.
Dropbox would be good for iron Condors I think as well
How do you feel about robinhood auto closing trades at day of expiration? This week it cost me $500 to close trades that were close to the money, and 1 trade that was 3 cents in the money but still over $1.50 away from break even. Any suggestions on how to turn this off or a platform that doesn't eat at my profits?
Absolutely stunning love using it. Thank you
Still waiting on margin part 2 bro make us rich 😂 rent is due
Haha I posted it
0:38 ممتاز البولنقر باند عشان تعرف النطاق الي يوصله سواء اعلى او اسفل
When selling multi legs, do we put limits at midmarket? Noticed even in very liquid options, midmarket pricing sometimes still dont filll. Thank you.
You can lower it by few cents and get filled
I watched most of your videos
Hows your palantir position?
What happens when we are in a profit and end the contract before the expiration date?
6:22 معلومه مهمه ان البيع لازم يكون الدلتا قليله
What’s your website ?
Margin put rolling video preferred.
Hey, so on the surface it seems like it’s a good strategy, but I went back and did analysis for the last year doing this strategy on a monthly basis and it seemed like over time, you technically “won” more trades, but the problem is the very few losers you would have had would have been massive dollar amounts so you end up losing money. In other words, picking up pennies in front of a freight train. You will nab some pennies but sooner or later that freight train is going to get closer and closer until it hits you and wipes out all your small gains.
I do this with spy but add $SH and $SPY longs
what about iron butterfly?
Maybe someone can help me understand. How do you know how to pick which options are chosen above the strike price or below it? I’m new to options trading.
By their deltas. The higher the risk (lower probability), the higher the reward. Watch from 17:30 - he explains delta
I don't quite understand. I'm getting the terminology wrong I guess. Precent return doesn't really apply to an iron condor because you are not actually spending in any money up front. After all is said and done your broker is giving You money to run an iron condor. You risk some money if things turn sour but you have capped the amount you can lose, but you don't actually have to spend any money to set up an iron condor, (unless you count the trading fees). I guess it is smart to have that at risk money set aside in the account (probably required isn't it) but unless the price goes beyond your risk limits no cash comes out of your pockets ( or trading account balance in this case). In an account like webull who pays 5% return on the cash in your account, an iron condor is a way for you to get even more money from the broker for having your cash in their bank. So if I understand it right you can increase that 5% per year by how many times you cansuccessfully run an iron condor in your account. Am I right?
this guy can easily trick inexperienced people
How is this different than a calendar spread or double calendar spread?
Different expiration dates
Love to see AMZN @ 3600 again!
Am I missing something here? This video is 5 months old....AMZN share price is $3,696??
Why is max profit $150 but total credit only $1.13? Shouldnt these 2 be the same, given that max profit will be the credit taken if NFLX stays within these bands?
Reference - 5:25
The credit is what you get now after the execution. The Profit estimate is the result on expiration. On expiration you have little discrepancy with the strike prices between the spreads.
I try to sell call and it said I don’t have enough collateral, account $1000. What should I do?
To sell a call, you either need to have 100 shares or enough $$ to buy 100 shares. You should not be selling options until you have a better understanding. You’re going to lose all your money.
Selling a naked call has infinities risk. I recommend you study what calls and puts are before trading options. Good luck and be patient.
I found it hard at times to exit iron condors that’s why I don’t like them. I like covered calls against leaps the best income producing trade.
While a good strategy, I think it increases overall risk and takes more effort to manage
How?
How do I get in touch with you?
uncle@investwithhenry.com
with my luck black swan is everyday
Why is Amazon $3600 here?
Why on Robinhood does it say $1.13 credit but Max Profit $1.50?
The credit is what you get today. The profit is the value on the day of expiration. On expiration all your positions get executed, they're a bit leaner meat in the strike prices on the expiration. If this makes any sense.
Got book cam got discord 50 a month how do I join
Easy just email support@investwithhenry.com
If the trade goes against you, what do you do?
Don't ask him that. Lol
Ha the AMZN iron condor did go against him…by Aug 20 2021 AMZN was $3203 😂his strike was $3450 😮
@@nancymarie7733 wow 🤣
@@cluggyahoo haha yup…I’m not sure writing a put spread (or an iron condor) when a stock is at it’s all time high - like AMZN was back then at $3600 - is the best idea🤣
You crap your pants
How could you possibly turn grow an account that high with just iron condors? That doesn’t make sense…0 dte yeah for sure not monthly dte
You can't this strategy is really risky. Your positions would have to be so big and the losses would wipe two months of gains easily.
Two things.
1. How much money does one have to have in their account to be able to make these kinds of trades? You are showing $24k buying power in the video. I'd like to know the exact amount.
2. Beringer bands. I am missing any kind of "thinking" on the bands and the target strike prices. Like, is a wide band what to look for? Or a tight band? Or, is that not really important? For instance, should only the fact the price is somewhere in the middle, is what is important at all?
So ab RR of 1:0.5, i’m not impressed. What am I missing?
You could improve that by taking on more risk-and lowering your probability of profit.
YOU FORGOT TO CONSIDER MARGIN REQUIRED WHILE CALCULATING RETURNS ON INVESTMENT ..
Sorry, I missed the "New super" IC strategy part? Seems like a regular IC to me lol! Please stop sensationalising videos like you also recently did with the Covered call strategy "that nobody is talking about" (which was the same as every other video on CC!) Lastly please for the love of all that is holy, stop telling your audience that you worked at Goldman. Its repetitive and is starting to make me wonder how long you were really there! Sorry Henry, I like you and you're videos but feeling this less and less.
In the mail room.
This must be an old video.
Why can’t I get I zoom link or get in touch with anyone?
WTF, 2milj on a Robinhood? Are you crazy?
You should use butterflies
I know it's a safe play, but those longs really eat into the profit don't they?
What's your take on the short strangle?
I’ve traded a lot of short strangles. They profit faster and you’ll make more money, the problem is they tie up a lot more BP and one bad overnight move in a stock can wipe out your gains. I personally would only trade naked in indexes like spy. If you can’t afford the SPY margin, use /MES.
Buy wider strikes to simulate a strangle for these positions that require huge amounts of capital.
Why are you recycling videos Henry? Amazon hasn't been 3K+ for a long time!!
😂😂 these videos always try to oversimplify things and never tell you how to defend your position. “You can only lose $300” but when you got 10 or more that start going against you how do you manage it. You definitely don’t need the b bands it’s useless. Just look at the delta in the options chain. Usually delta 20 on each side gives you decent results. Implied volatility isn’t that important only around earnings. The reason is you selling one and buying one. I still don’t know how this is anything but a basic text book iron condor. I hope people don’t pay any money for this type of information and did this guy actually work for gs? I would have to see it to believe it.
Netflix could easily go way below 400. Clown trade.
Get in touch.⏫️
Bollinger is pronounce with a J not a G so it’s Bollinjer
This guy took 30 mins just to explain how to enter iron condor. Get to the point man.. didn’t even get into adjustments 😢
Can’t take anyone who uses Robinhood seriously. Doesn’t help that your editor is also using another company’s image in your iron condor example.
Another charlatan making more money doing videos than by investing. Almost comically, the example he uses would a perennial loser. With deltas of .21 and .12 on the short legs, there would be a 33% chance of expiring ITM and a 67% chance of expiring OTM. So in two out of three months he would make $300 total ($150 twice) and in one month of the three he'd lose $350, for a consistent loss. (Ignoring ending partly ITM or closing early, which aren't preferred outcomes and would reduce your profit)
I agree. I was calculating the same. On the same boat, really digging into these things and noticing lack of explanation of the reality of these trades.
If these were at least weekly, one could actually get a better scene of the stocks defined range.
If you have any channels you found more helpful let me know, always trying to learn more.
Henry, This is terrible advice. I hope none of your students follow it. Rarely is it advantageous to open an IC at the center of the BB. You are better served legging into each side of the IC to maximize the credit received. Furthermore PLEASE learn the difference between the "call side" and "put side" of an IC before making a video.
What do you mean legging into each side?
Can you elaborate on what he did wrong?
@@Kauffman578 I viewed this video 6 months ago and I am going from memory as I do not have time to rewatch it right now. I believe he simply reversed what he was calling the call and put side of an IC.
@@clevo4040 you mean the mixed the terms?
@@Kauffman578 IC has two sides. Selling one side of the credit spread at a time to create the IC will usually provide a better overall credit. However, this depends on your ability to strategically enter each side at a more favorable credit.
But it can look like downturn can be really big. And it’s very scare. How you prepared for massive possible downturn,,,
I would close ONLY the side in red or near the strike price and roll it over .. or take a fat loss 😅
Are you afraid massive market crash which is widely discussed all over internet?
If there's 1 guarantee in life, it's that the markets will come back down from it's highs. Always has and always will.
Black swan like covid