Iron Condor and Iron Fly are very popular option trading strategies due to their defined risk and reward and you can formulate your strategy methodically using delta.
Iron Condor and Iron Fly are known as extensions of strangle and straddle. They also can formulated as a combination of credit and debit spreads.
These strategies you can easy replicate and do on a continuous basis to get regular income. People who want to trade in high IV scenario using hedging options can go for this.
During this course you will learn
Iron Condor and Iron Fly basic construct
Types of Iron Condor
Pay off diagrams of Iron Condor and Iron Fly
Adjustment of Iron Condor and Iron Fly
Selection of strike prices
Call credit spread selection
Put credit spread selection
Usage of delta
IV Rank and IV percentile for strategy selection
Backtesting with past data and case studies
Efficiency of the strategies during earnings season
This is advanced option course so basic understanding of option buying, option selling and option greeks is required. For the benefit of the students I will recap some of the key terms which will help you in understanding the strategies in a easier way.
At the end of the course you will be in a position to understand these hedging strategies in a very detailed manner and will be able to select your strategy accordingly.