Options Mastery #3: Iron Condors

Struggling to consistently trade options profitability? Learn how to increase your success rate with your iron condor option trading in our new iron condor course

Course Difficulty:
This course is recommended for people who have been studying the stock market for at least 1 year and have knowledge about how the stock market works along with some basic options knowledge.

Recommended Prerequisites: Options Mastery #1: Foundation, Options Mastery #2: Business of Options & Vertical Spreads

Get "Options Mastery #3: Iron Condors"

33 Videos, 19+ Hrs of Iron Condor Training, 90+ Page Study Guide

COURSE IS CURRENTLY CLOSED! Check back in September or get on the newsletter list

Overview of the Options Mastery: Iron Condors

See a detailed breakdown of each video and what you will learn

Video 1: Introduction to the Iron Condor Course

Run time: 08 mins 41 secs

In module #1 I will give you an introduction to the course. We will cover the following topics:

  • What you should do prior to taking this course
  • Overview of the main topics we will cover during this course
  • My recommendations for getting the best out of this course

Video 2: Introduction to Trading Iron Condors

Run time: 44 mins 20 secs

In this module I am going to give you an introduction to the basics behind iron condors. Topics we will cover include:

  • The main goal behind trading iron condors
  • How do you trade iron condors?
  • How is an iron condor set up?
  • What does the profit picture of an iron condor look like?
  • Trading iron condors in a real life trading platform
  • Breaking appart the construction of an iron condor
  • Different variations of iron condors
  • How do you make money with iron condors?
  • What kind of stocks should you trade iron condors on?

Video 3: Iron Condor Basics, Commissions, & Probabilities

Run time: 44 mins 57 secs

In this module we are going to talk about how you really make money with iron condors and how to trade iron condors successfully. We cover topics such as:

  • Basic Iron Condor setup
  • Basic Risks associated with trading iron condors
  • Difference between trading stocks vs. trading iron condors
  • Commissions that you pay when trading iron condors vs. trading stocks
  • Pros and cons of spreading your wings/strikes when trading iron condors
  • How to be more successful when trading iron condors?
  • The role of probabilities and how they can affect your profitability
  • How to increase your chances of success
  • My #1 advice for someone who new and is just starting to trade iron condors
  • Real life example of an iron condor trade

Video 4: Buying vs Selling Iron Condors

Run time: 27 mins 01 secs

In this module I'm going to share with you the difference between buying and selling and iron condor. Here are some of the topics we cover in this video:

  • The difference between buying and selling iron condors
  • Pros and cons of buying and selling iron condors
  • When you should you be a buyer or a seller of iron condors?
  • What buying and selling iron condors look like in a real life trading panel

Video 5: Neutral Iron Condors, Volatility, & Risks

Run time: 54 mins 05 secs

In this video we focus on the volatility risks associated with iron condors. In this video you will learn:

  • The importance of understanding volatility when it comes to trading options
  • Why most people are wrong when they are setting up a neutral iron condor
  • The right way to create and position a neutral iron condor
  • How to find your biggest risk when trading iron condors
  • How volatility works as you trade options
  • Why you shouldn't set up an iron condor right in the middle
  • How to set up a bullish or bearish iron condor trade

Video 6: Finding Good Iron Condor Set Ups

Run time: 43 mins 10 secs

In module 6 we're going to talk about how to find nice setups when trading iron condor. In this video you will learn:

  • Key points you need to watch out for to finding great iron condor setups
  • How you can find good iron condor trades in a real life trading panel
  • Examples of good and bad stocks to trade iron condors on

Video 7: Iron Condors on Expensive vs Cheap Stocks

Run time: 40 mins 44 secs

In this module I'm going to share with you some concepts on trading iron condors on expensive stocks vs. trading them on cheaper priced stocks. The topics that we cover in this module include:

  • Pros and cons of trading iron condors on expensive stocks
  • Pros and cons of trading iron condors on cheaper stocks
  • My personal preference when it comes to trading iron condors (expensive or cheap stocks)
  • What it looks like to trade iron condors on expensive and cheaper stocks in a real life trading panel

Video 8: Right Time to Get Into Iron Condors

Run time: 38 mins 59 secs

In module 8 we're going to discuss when is the optimal time to get into an iron condor trade. In this video lesson we will cover:

  • The right time to get into an iron condor
  • How many days until expiration should you enter your iron condor trade
  • What day of the week and time of the day is it better to enter an iron condor trade
  • Safer times of the day and week to put on an iron condor
  • Risks associated with certain times and days when you enter into an iron condor trade
  • The ideal market conditions to enter an iron condor trade

Video 9: Short vs Long-Term Duration Condors

Run time: 41 mins 15 secs

Module 9 focuses on longer term duration vs. shorter term duration traders when it comes to trading iron condors. In this module we cover topics such as:

  • How long or how short should you do an iron condor?
  • What exactly does "longer term" and "shorter term" mean when it comes to iron condors?
  • Pros and cons of shorter term trades vs. longer term trades
  • Why you should keep an eye on volatility when choosing the duration of your trades
  • When should you choose to do shorter term duration trades or longer term duration condors
  • How to spread out your risk by playing with the duration of your iron condors
  • How to look at the volatility trend and what it tells you about trading iron condors
  • The best time frame and duration for people just starting with iron condors

Video 10: How Long to Hold Your Iron Condors

Run time: 36 mins 47 secs

In this modue we're going to take a look at how long you should be in an iron condor trade. We will cover topics such as:

  • How long should you be in an iron condor trade and when to get out early
  • 3 Key factors that will determine if you close out your iron condor position early
  • When you should let an iron condor expire
  • When to close your iron condor early (before it expires)
  • When and how should you take off your profits when trading iron condors (scaling)

Video 11: Iron Condor Risk Management

Run time: 62 mins 48 secs

In this module we're going to focus on risk management when trading iron condors. You will learn:

  • Basic risk management strategies for iron condors
  • Risks associated when trading iron condors
  • The most important risks you need to watch when trading iron condors
  • How to properly position yourself within your trades based on the risks
  • The right and wrong way of allocating your capital when trading iron condors
  • The problem of overlapping trades and how you can avoid it

Video 12: Big Picture to Adjusting Iron Condors

Run time: 63 mins 44 secs

In module 12 we are going to discuss the concept and theory behind making adjustments when trading iron condors. In this module we cover the following topics:

  • The big picture behind making adjustments and why you should adjust your positions
  • When you should adjust your iron condor trades, when to let them sit, or when to close them out early
  • Advantages and disadvantages of making adjustments to iron condors
  • The different types of adjustments you can do when trading iron condors
  • The cycle of adjustments and how to think about adjustments
  • How to decide when, how, and how much to adjust
  • The #1 thing to watch when making an adjustment

Video 13: Creative Adjustments & Managing Iron Condors

Run time: 55 mins 15 secs

Module #13 is about adjustment variations and finding the right way to adjust positions for your personal circumstances. Some of the topics we will cover include:

  • The big picture behind creative adjustments and managing iron condors
  • The two main risks that you should adjust for
  • Common types of Adjustments you can do when trading iron condors
  • How to adjust the right way based on your personal style, risk levels and goals
  • Adjusting iron condors in a real life trading panel

Video 14: Managing Your Overall Iron Condor Portfolio

Run time: 31 mins 57 secs

In module #14 you will learn various ways to hedge and adjust your portfolio. Topics we will cover include:

  • How to manage and adjust your overall portfolio in one single transaction
  • Different types of adjustments that you can do to manage and hedge your entire portfolio fast
  • How to adjust your portfolio in a real life trading panel

Video 15: Iron Condor Trade: Amazon Part 1

Run time: 31 mins 53 secs

In this module were going to enter into a low-probability iron condor trade on Amazon. We are going to start with 49 days out and show you the position each day the trade move forward.

I'll also share with you how to make subtle adjustments as the stock runs up on.

Video 16: Iron Condor Trade: Amazon Part 2

Run time: 35 mins 56 secs

In this module, we will continue with our Amazon trade as the days tick closer to expiration.

As we move forward in the trade, I'll show you when I would take profits into strength or reduce my contract size. You'll also get my insight on other variations to adjustments and the pros and cons of each type of adjustment.

Finally, we will wrap up the module by closing out the trade and taking our profits off the table.

Video 17: Iron Condor Trade: Facebook Part 1

Run time: 18 mins 20 secs

In this trade example we are going to evaluate different iron condor setups for Facebook.

I will then share with you the process of entering a high probability iron condor. As time moves forward, we will evaluate our position and how are trade performs.

Video 18: Iron Condor Trade: Facebook Part 2

Run time: 19 mins 09 secs

In part two of our Facebook trade example, I will share with you how to hedge and adjust your iron condor for the downside as a selloff starts within the stock.

You will see different types of adjustments and hedges for our position and then will choose one to follow one of the adjustments. As we wrap up the trade, we will discuss taking off each side individually and closing out the trade.

Video 19: Iron Condor Trade: Apple Part 1

Run time: 27 mins 38 secs

In this module, we will evaluate an iron condor position on Apple. I will share with you the ideal strike prices that I'm picking and why am choosing the strike prices.

We will then enter a high probability iron condor and evaluate it as we get closer to expiration.

Video 20: Iron Condor Trade: Apple Part 2

Run time: 27 mins 30 secs

In part two of our Apple trade we will continue to follow the progression of our decay curve. As we get closer to expiration all share with you when I would take profits and the strength and reduce my position.

You'll see how many contracts at takeoff into strength and why I'm taking those contracts off at that time - until we finally close out the position.

Video 21: Iron Condor Trade: Tesla

Run time: 52 mins 12 secs

In this trade example we will look at a quick iron condor trade on Tesla - holding the trade for short time-period. We will cover the trade setup and entering the position.

Then we will evaluate our position as time moves forward as well as some basic adjustment strategies. We will finally close off the trade profitably as we see a favorable opportunity.

Video 22: Iron Condor Trade: McDonald's

Run time: 30 mins 36 secs

Module 22 is a bit different in that I share with you the process of buying and iron condor rather than selling an iron condor.

In this module I'll share with you when you may want to buy an iron condor and how to enter that position. As we monitor the position, I will share with you when to take profits and when to close out the trade.

Video 23: Iron Condor Trade: Caterpillar Part 1

Run time: 21 mins 36 secs

In module 23, we will look at entering into a skewed iron condor trade with Caterpillar (CAT).

I will give you some insight on why I would set up this trade as a skewed position or slightly unbalanced. We'll talk about how much unbalancing we want and then getting into the position.

As we continue to follow the position, we will tweak our contract size from increasing contracts to reducing contracts depending on what we see in the stock price.

Video 24: Iron Condor Trade: Caterpillar Part 2

Run time: 21 mins 13 secs

In part 2 of our Caterpillar trade we will continue to monitor our position as we get closer to expiration. I will share with you when I'm looking to reduce my position size and take some profits.

You'll also see my reasoning behind closing the position early along with some other reasons of when you may want to reduce your position size.

Video 25: Iron Condor Trade: SPX Part 1

Run time: 21 mins 31 secs

In this module show you how to enter an iron condor trade for an index like the SPX. We will create a high-probability condor that is unbalanced or skewed.

We will then get into managing this position slightly by adding to the position to put and call side.

Video 26: Iron Condor Trade: SPX Part 2

Run time: 28 mins 08 secs

In part two of our SPX trade, we get into a bit of trouble and I share with you how you can hedge this position slightly by using a diagonal spread.

We will also discuss other possible adjustment variations and when it would be the appropriate time to use those adjustment strategies.

Video 27: Iron Condor Trade: RUT Part 1

Run time: 39 mins 44 secs

In this module, we will discuss setting up an iron condor trade on the Russell (RUT). Just like in our previous SPX trade, we will enter into an unbalanced or skewed position and then slowly tweak it as the market moves.

Video 28: Iron Condor Trade: RUT Part 2

Run time: 33 mins 28 secs

In the second part of our RUT iron condor trade, I will share with you some adjustment strategies as things move against us. You'll see how we can adjust by buying a single put or by just adding or reducing contract sizes.

Video 29: Iron Condor Trade: RUT Part 3

Run time: 43 mins 58 secs

In this final part of the RUT trade I will share with you my thoughts of taking this trade all the way to expiration.

You'll see exactly what it looks like when you let an iron condor expire. You'll also see my thinking process of letting things sit as they are and expire versus taking them off early.

Video 30: Iron Condor Trade: Netflix Part 1

Run time: 32 mins 56 secs

In this trade example, we are going to position an unbalanced bullish iron condor on Netflix. I will share with you my setup process along with why I chose the strike prices that I did.

We will then start watching the position closely every single trading day as the stock starts to move.

Video 31: Iron Condor Trade: Netflix Part 2

Run time: 35 mins 52 secs

In the second part of our Netflix trade example I will share with you some adjustment strategies and how we can tweak the position as price starts to move against us. We will look at tweaking the position by adding and removing verticals.

Video 32: Iron Condor Trade: Netflix Part 3

Run time: 33 mins 17 secs

In this final Netflix trade example, you'll see me take you straight on the way down to one day remaining.

However, I will share with you why I closed this Netflix trade one day before expiration even though the iron condor was in a fairly safe position.

Video 33: Final Words of Wisdom & Resources

Run time: 09 mins 34 secs

In module 33 we wrap up this course with a few final words of wisdom and resources that you can use as you move forward with your trading journey.

2016-12-06-options-panel-overview

Bonus #1: (Video) Options Trading Panel Overview for ThinkorSwim

Run time: 75 mins 00 secs

This bonus video is a recording of a live class webinar that we had for option traders. The topics that we cover in this section include:

  • Module #1: Introduction to options and my story with learning options
  • Module #2: Why a great panel and software is important - but you don't need the best
  • Module #3: Big picture overview of the ThinkorSwim platform
  • Module #4: Option Trade Selection
  • Module #5: Advanced option trade grid (spreads, changing columns, option statistics, time & sales)
  • Module #6: Questions and Answers
2016-12-06-options-risk-profile-pictures-hedging

Bonus #2: (Video) Risk Profile Pictures for Options & Hedging

Run time: 90 mins 21 secs

This bonus video is a recording of a live class webinar that we had for option traders. The topics that we cover in this section include:

  • Module #1: How risk profiles and profit pictures work on Paper
  • Module #2 How risk profiles work within the panel & manipulating them
  • Module #3: Playing with different strategies and evaluating risk profiles
  • Module #4: Micro-details (greeks, price slices, shifting date, price, volatility, overlapping trades)
  • Module #5: How to hedge your positions on a portfolio basis using an index like the SPY
  • Module #6: Questions and Answers
2016-12-19-webinar-option-greeks

Bonus #3: (Video) Option Greeks & Risks Webinar with Examples

Run time: 86 mins 44 secs

This bonus video is a recording of a live class webinar that we had for option traders. The topics that we cover in this section include:

  • Module #1: Introduction
  • Module #2: What the Greeks tell you and how they work
  • Module #3: Delta: How delta works within stocks and options
  • Module #4: Gamma: What is gamma and how it plays within options
  • Module #5: Theta: How theta plays a huge role in your option decay
  • Module #6: Vega: How volatility effects your option contracts
  • Module #7: Hedging your Greeks and looking at your biggest Greek
  • Module #8: Final Questions and Answers

Bonus: 90+ page digital study guide Included!

Now includes a study guide that outlines the core lessons of the course! In addition, it includes diagrams and screenshots directly from the video so you can easily reference back and review the content.

Get "Options Mastery #3: Iron Condors"

33 Videos, 19+ Hrs of Iron Condor Training, 90+ Page Study Guide

COURSE IS CURRENTLY CLOSED! Check back in September or get on the newsletter list

30 Day Money Back Guarantee

Your purchase is 100% Risk Free! If you're not happy with any of our courses, simply let our team know (via email) and we'll happily refund your money. In addition, we will give you a free 20 minute consultation to ensure any future purchases are specific to what your needs!

Get "Options Mastery #3: Iron Condors"

33 Videos, 19+ Hrs of Iron Condor Training, 90+ Page Study Guide

COURSE IS CURRENTLY CLOSED! Check back in September or get on the newsletter list

Frequently Asked Questions & Answers

Have any questions about this course? Browse through our FAQ's below...

What is the Options Mastery #3: Iron Condors and How Will it Help Me?

Options Mastery #3 is focused on teaching you how to profitably trade iron condors, and increase your success rate with your iron condor options trading.

Options themselves can be confusing and learning how to trade iron condors the right way and be profitable month after month over the long term, can be very difficult and complex.

This course continues to build upon our first and second course in the series to get detailed into topics such as: setting up an iron condor the right way, managing your trades, adjusting your iron condor positions, evauating real life trade examples, and most importantly - what to do when you get in trouble!

Many of the concepts taught in this course can even be applied to future intermediate and advanced option strategies like butterflies, calendars, and more!

What level or experience should I have prior to taking this course?

This course is recommended for people who have been studying the markets for at least a year or longer. Having some previous knowledge or understanding of options is helpful, such as our introductory course "Options Mastery #1: Foundation." and our "Options Mastery #2: Business of Options & Verticals"

How long is the Options Mastery: Iron Condors course?

The third course in the Options Mastery series (Iron Condors) is 19 hours and 18 minutes long. The length of each video module is as follows:

  • Module #1 is 08 mins 41 secs
  • Module #2 is 44 mins 20 secs
  • Module #3 is 44 mins 57 secs
  • Module #4 is 27 mins 01 secs
  • Module #5 is 54 mins 05 secs
  • Module #6 is 43 mins 10 secs
  • Module #7 is 40 mins 44 secs
  • Module #8 is 38 mins 59 secs
  • Module #9 is 41 mins 15 secs
  • Module #10 is 36 mins 47 secs
  • Module #11 is 62 mins 48 secs
  • Module #12 is 63 mins 44 secs
  • Module #13 is 55 mins 15 secs
  • Module #14 is 31 mins 57 secs
  • Module #15 is 31 mins 53 secs
  • Module #16 is 35 mins 56 secs
  • Module #17 is 18 mins 20 secs
  • Module #18 is 19 mins 09 secs
  • Module #19 is 27 mins 38 secs
  • Module #20 is 27 mins 30 secs
  • Module #21 is 52 mins 12 secs
  • Module #22 is 30 mins 36 secs
  • Module #23 is 21 mins 36 secs
  • Module #24 is 21 mins 13 secs
  • Module #25 is 21 mins 31 secs
  • Module #26 is 28 mins 08 secs
  • Module #27 is 39 mins 44 secs
  • Module #28 is 33 mins 28 secs
  • Module #29 is 43 mins 58 secs
  • Module #30 is 32 mins 56 secs
  • Module #31 is 35 mins 52 secs
  • Module #32 is 33 mins 17 secs
  • Module #33 is 09 mins 34 secs
Does the "Options Mastery #3: Iron Condors" course come with a study guide?

Yes - the Options Mastery #3 study guide is 90+ pages. It is a digital PDF study guide.

If I am ready to order and start learning from this course - what is the next step?

If you have purchased a course before then please login to your account first prior to purchasing. If you are a new customer and you are ready to order then you can click the "Get it Now" button above.

PayPal will walk you through the transaction process and you can make your payment through PayPal or use a credit card.

After going through the process, check for a registration email within in your inbox. If you don't see it in your inbox then please check your spam folder or spam box as it might be there. Click the link inside that email and register for your account.

Once you have an account, you can login to the website administration panel and you should see your course in your account. Click the course to see a list of videos and the material. You can the click the play buttons or on the video to start the videos and watch them at your pace.

Additional frequently asked questions related to pre-sales, account issues, or shipping
can found in our general FAQ's found here. Click here to go to the general FAQ's.

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