High Risk Iron Condors - Trading Options

[rameshjain2009]

We should not keep the long strangle price too far. Buying Calls and Puts strike price should not be too far from the strike price we shorted Calls and Puts.

Only inexperienced will keep the protection strike price too far

Protection level should be 3 to 5 % and It is also possible to repair the strategy by buying ONE ATM CALL and Selling TWO OTM call . Vice Versa can also be done buying one atm put and selling two otm. put ,, Please reply.

[sjoptions]

@rameshjain2009 Again, there are numerous ways to repair a badly constructed trade, but why take the risk? In today's market we simply do not use this strategy. It was meant for a stable market which we haven't seen for years.

[rameshjain2009]

We should not keep the long strangle price too far. Buying Calls and Puts strike price should not be too far from the strike price we shorted Calls and Puts.

Only inexperienced will keep the protection strike price too far

Protection level should be 3 to 5 % and It is also possible to repair the strategy by buying one ATM CALL and Selling two out of the money call . Vice Versa can also be done, Please reply.

[sjoptions]

@rameshjain2009 There really is an unlimited number of ways to work with Condors and repair them. Most option traders try to learn the secret to adjusting them for many years. However, we find the best adjustments are made to this trade before we ever begin it. We personally do not trade this strategy or recommend it either.

[sjoptions]

@cansmakit Good advice except for one thing. What happens when the market drops 10% intraday and Think or Swim servers go down? If you trade these long enough, the embedded risk will get you sooner or later. Good luck to you, but I personally don't do this risky trade anymore.

[sjoptions]

Actually, we do like Condors, but we don't do the typical Condors that 99% of traders do. However, Condors may not be the best option strategy for all markets. It's good to learn other types of spreads which are not quite so negative Vega.

[alexchervet]

Ok, so you don't like condors. What do you recommend instead?

[NYredwhiteandblue]

You should adjust the position if it gets too close to either side, Cant just set it and forget it..

[klayed]

very good video

better than 95% other stuff on internet

[lightfoot500]

thanks for the video. good advice.

iron condor good for a sideways market.

which may not be bad since we may be entering into a sideways market for some time.

good website