Iron Condor

The textbook definition of the Iron Condor:

An advanced options strategy that involves buying and holding four different options with different strike prices. The iron condor is constructed by holding a long and short position in two different strangle strategies. A strangle is created by buying or selling a call option and a put option with different strike prices, but the same expiration date. The potential for profit or loss is limited in this strategy because an offsetting strangle is positioned around the two options that make up the strangle at the middle strike prices.
 
This strategy is mainly used when a trader has a neutral outlook on the movement of the underlying security from which the options are derived. An iron condor is very similar in structure to an iron butterfly, but the two options located in the center of the pattern do not have the same strike prices. Having a strangle at the two middle strike prices widens the area for profit, but also lowers the profit potential.

Wow... that was a mouthful. The truth is just learning the procedures or the text book definitions of trades doesn't help. There are a number of different strategies you should be using in order to spot when and where to apply the iron condor, things we can help show you.

At Phil's Stock World, we offer a number of great reasons to Join. In addition to learning more about the Iron Condor:

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Profit From Experience

What You Get:

Stock Chart Computer

The Picks: the real reason you're here. For a detailed overview, check out our past performance.

Please note: Performance is calculated as a percentage gain from the basis at the time the position is closed.  In no way should you get the impression that your entire virtual portfolio can get these returns every week.

Not all trades are taken by all people and not all traders choose to (or have the clearance to) sell options against other positions or have the capital available to add money to trades - all this impacts your individual ability to profit under some aspects of our system.  We have long, short and mid-term trading opportunities for all types of traders!

A sample of the trade ideas our members receive:

The best of the worst, to me, is P&G, and not just because they are literally throwing in the towel - selling their European towel unit, which gives me an excuse to put up another picture of Towelie, but because they've done an amazing job integrating Gillette already, growing net income from $1.7Bn a quarter (average) in '05 to $2.7Bn in Q3 and $2.8Bn in Q4 and they already have a 23% market share in developing countries and the management expects to "derive $14Bn to $16B in synergies from this (Gillette) combination over time. While they may dip down and test the 200 dma at $61 (they've come so close, why not at least pay a visit?), we can start accumulating PG for our virtual Long-Term Virtual Portfolio by picking up the Jan '09 $65 calls for $5.70. We will wait to sell calls against it but if this is a real rally, these guys should come out like champs over time. On Feb 20th, these contracts were trading at $7.75!

Trade Alerts: daily and intraday trade alerts appear on our site in real time! Sample intraday alert:

Trade Alerts

Market overviews: A daily outlook before and after the bell with trade ideas, notes on key indicators, and analysis of the day’s action.

Trading community: every trading day, our members swap ideas, advice, and post trades of their own. Phil responds to questions and ideas, often in real time. No other newsletter service gives its members this level of access and interactivity!

Virtual Portfolio tracker: our virtual portfolio tracking system keeps you up to date on the status of past and current picks so you'll never be left wondering what to do.

Virtual Portfolio management tools: because we're all at different stages of the game, we offer trades and strategies for those who want to take a longer or less volatile approach. We specialize in calendar spreads and income-producing strategies.

Forum: our members-only message board has a whole section devoted to analyzing individual stocks and companies, and includes discussion of trading strategies and other tips.

Research: We publish periodic in-depth reports on industry trends, specific companies, and macroeconomic factors that influence our trading.

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You can read Section 1 of our options guide for free: click here to download.

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Profit From Experience

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Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

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Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

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Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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