BUTTERFLY CLASS 2016 – BUTTERFLIES FOR MONTHLY INCOME
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Class Description:Butterfly options trades come in a variety of styles. Learn about the different types of Butterfly Strategies. Learn how to select the right stocks for the Butterfly, whether to choose Calls or Puts, how wide a Butterfly should be, when and how to adjust your trade, and much, much more! This class will equip you to be a top-tier Butterfly trader.
Eighth and Final class with Dan.
0 min- Intro and closing remarks of Butterfly class
1:00- Brief comments about our Mentoring Program
2:40- Q and A Defining Broken Wing Butterflies
5:14- Q and A Will I cover the 1-4-3 Butterfly?
6:38- What will we cover in today’s Class?
8:15- Summary: SPX 8 Days to Expiration Balanced Butterfly (Weekly or Short Term Trade). All Calls.
30:45- Summary: SPX 35 Days to Expiration At-the-Money Balanced Butterfly. All Calls
33:00 – Summary: SPX 35 Days to Expiration At-the-Money Unbalanced or Broken Wing Butterfly. All Calls
42:20- Summary: SPX 35 Days to Expiration At-the-Money MORE Unbalanced or Broken Wing Butterfly. All Calls.
46:40- Summary: SPX 35 Days to Expiration Unbalanced or Broken Wing Out of the Money Put Butterfly and adjustments.
1:03:35- SPX Put Unbalanced or Broken Wing Out of the Money Iron Butterfly.
1:07- SPX Put unbalanced or Broken Wing OTM Bullish Iron Butterfly.
1:07:55- Butterfly Battle Plan
1:08:45- Adjustments for Butterflies
1:10:25- Q and A
1:15:58- Questions and Comments about Sheridan Mentoring and why it’s unique?
First Class with Dan
|Basics, Different Butterfly types, The Greeks and Live Trade Execution|
9:12- Foundational discussion on Butterflies
16: 45- Long Butterfly with Calls, done for a debit
37:20- Live Trade Execution for Butterflies
1:02:25- Balanced Iron Butterfly 9 Days to Expiration (Weekly’s or Short Term) and Q and A
1:15:45- Guidelines short term Weekly Balanced Iron Butterfly
1:37:20- Live Trade execution and discussion for an Iron Butterfly
Second Class with Dan
|Balanced Butterflies, Continuing The Greeks, & Intro on Broken Wing Butterflies|
1:15- Review Class Live Trades
23:25- Greeks of Longer Duration Balanced Butterflies
47:20- Example of Longer Duration All Call Balanced Butterfly (49 Days from Expiration)
54:40- Stock Butterflies: Using GOOGL example, 29 Day Trade
62:25- Guidelines for Stock Balanced Butterflies that are neutral and Adjustments
69:39- How to reduce short Deltas with Balanced Butterflies in SPX and RUT: Intro to Broken Wing Butterflies
78:05- Differences between Balanced and Unbalanced Butterflies
79:35- Looking at live Butterfly trade for today’s Class and Q and A at the end.
108:19 – End
Third Class with Mark Fenton
|Flat Iron and All Put Butterfly|
3:00- Basic structure of the SPX all put flat fly
6:00- SPX all put flat fly live trade illustration and entry guidelines
15:00- question and answer
17:00- All put flat fly adjustments and trade illustration
41:00- SPX flat iron fly basic structure and live trade illustration
48:00- SPX flat iron fly adjustments and trade illustration
60:00- Live class trade of SPX all put flat fly placed
65:00- End Question and answer
Fourth Class with Jay Bailey
|The Mango Butterfly|
1:50- Mango Butterfly (Unbalanced or Broken Wing Butterfly)
16:55- Iron Butterfly- Mango- Guidelines (Looking at Cheat Sheet)
23:55- Looking at adjustments: 2 Main Adjustments
39:15- other Market scenarios for the Mango (Looking at cheat sheet)
49:25- When to buy a put on the downside with the Mango or any other strategy? (What to do when you get a big down day?)
Fifth Class with Dan:
|Reviews the first 4 classes and puts on a live trade|
0- Intro and Q and A
15- Live Butterfly Class Trade for Today’s Class
31:10- Review of Mark Fenton’s Butterfly Class he taught
53:30- Review of Jay Baileys Butterfly Class he taught
1:06:18- Dan’s Interpretation of when to apply the various Butterfly Strategies you have learned so far in the class.
1:18:42- Conclusion of class and closing remarks
1:19- Review of last Live Trade I put on
Class Six with Dan:
|Reduced Vega Butterfly, Stock Butterflies, Extensive review of a class trade and discussion of today’s live trade.|
3:10- Review Class Live Trade and adjustment and risk management ideas and some Q and A
37- Live Trade for Today’s Class
52:40- Reduced Vega Butterfly
1:02- Guidelines for SPX Balanced Butterfly
1:03- Stock Butterflies: Using AMZN as an example
1:04:55- Greeks of Various Butterflies reinforcing the different Greeks for different Butterfly Trades
Class Seven with Mark Fenton
0:00- Review of previous class trade and closing it at a profit
10:00- Directional or time bomb butterfly basic structure and entry guidelines
13:00- DKS earnings release trade reviewed
27:00- Question and answer
33:00- SPX time bomb butterfly illustration
50:00- END: with Q&A