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Graham DunlopParticipant
Igor – a great initiative having a short video!
A Quick Comment – It might be useful to split your videos into:
1) – those that are thinkorswim driving lessons
2) – those that relate to your specific decision-making on the Iron Condor – so we can learn the detail from you.A number of your followers would use different brokers. I use IB for instance.
Whilst there is plenty of material around on how to open up an iron condor – it would be great to get some detail on your specific approach – ie reasons for decisions on deltas, distance from the underlying and duration.
Maybe thinkorswim driving lessons could go to a more permanent general area.
I find your work very helpful.
Many thanks
Graham DunlopParticipant– Just what I needed!
Graham DunlopParticipantIgor
– An EXCELLENT response – sound and logical.
– I checked this out on my option software – it’s a really good approach.
– Many thanks
– I will keep following you with great interest.Graham DunlopParticipantIgor – much appreciated – it was great – a nice easy to follow video – on an adjustment system with nice clear rules.
A question on detail:
– If say you have too much negative Delta – and you want to add say 30 Delta to your position – as per your adjustment system you would go and purchase OTM Calls with Deltas adding up to 30 – ie 3 x 10 or 2 x 15.
– However – the shape of the Risk Curve of a Call changes – based on how far OTM the Call is.
– With Price change in the Underlying – a Call at OTM 10 will behave differently to a Call at 15 OTM.
– Do you have any approach or guidelines that would address this issue?
– Many thanks
Graham DunlopParticipantIgor
– I have been following all your trades over the last 7 months backtesting in an options platform at an assumed maximum risk level per trade.– First – can I congratulate you on an excellent profit performance. I am very surprised Steve doesn’t publish your financial performance on the IWO site – it kills a lot of other sites that I have checked out!
– Secondly – a question on Delta hedges such as the ones used on this trade as well as the SPX 06JAN17 Iron Condor placed on 15Nov16:
– Could you help me with some clear guidelines on the rules that you use to determine the size and strike level of the hedges that you use?
– I have been a bit confused as you often mention the size of the hedge – but not the size of the initial trade. I have gone through the Iron Condor Intensive course – but I am still not clear.
– A bit of stress testing points to the fact that the size of the hedge is key in determining whether the whole trade ends up in a profit or loss. Based on size it can be substantial either way.– Please keep up the good work – I have gained a lot by following you closely.
– Many thanks
Graham DunlopParticipantIgor – a query on the basic detail of your order ticket – don’t you mean 2475/2485 CALLs – not PUTs?
Graham DunlopParticipantWill do. Good logical advice – many thanks. I’m always on the look out for the ‘silver bullet’!
Graham DunlopParticipant– I am seriously considering switching my options analysis platform to OptionNET Explorer.
– Do you have any advice on how to learn to operate this platform quickly & efficiently?
– Many thanksGraham DunlopParticipant-Just got a fill at $1.70. I put on each side separately :95c for the CALLS: 75c for the PUTS
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