MTM Options Trader Newsletter - Iron Condors Are Not as Complicated as You Think

This Week in the Market The market continues to trade sideways for the most part, even after some of the big-name tech stocks gapped higher Friday after posting earnings. The S&P 500 looks like it may want to try to make a move over recent pivot highs if action late in the week is any indication. Of course, anything can happen with the open on Monday, but for now a neutral to non-bearish outlook seems appropriate. Implied volatility remains pretty level without too much movement either higher or lower. Last week was loaded with big names as far as earnings go, but this week reports continue to slow as most companies have already reported their latest numbers. That said, there are still several companies reporting this week, so remember to check before placing a trade. This is a busy week as far as economic reports go including the July jobs report expected to be released ahead of the open on Friday. Remember, you don't always have to trade. If you don't feel the odds are on your side, sit on your hands. Have a safe, healthy and prosperous week!

Aug 3: Construction Spending Aug 4: Factory Orders Aug 5: Trade Deficit Aug 6: Jobless Claims Aug 7: Unemployment Aug 7: Wholesale Inventories Aug 7: Consumer Credit Read Our Blog

Iron Condors Are Not as Complicated as You Think An iron condor is an option strategy that may sound complicated, but it really is not. It is as simple as combining two credit spreads. It is not complicated but managing the position may be. A call credit spread is implemented above the current stock price and a put credit spread is implemented below. The objective of any credit spread is to profit from the short options' time decay while protecting the position with further out-of-the-money long Continue Reading ... MTM Watchlist Here are several trade ideas we will be watching in group coaching class this week: AAPL – After gapping higher on Friday, the stock looks poised to move even higher. Additional bull call spreads will be looked at. SPY – With some potential support around $320, bull put spreads at or below that level will be modeled just like last week. BA – After announcing earnings, the stock continues to drop. Additional bear put spreads will be discussed early in the week.

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The strategies in this newsletter are for educational and informative purposes only. All information disclosed in this newsletter should not be considered complete in its entirety. Market Taker Mentoring, Inc. will not be held responsible for changes, oversights, errors or omissions. Dates, prices, news and other information may not be accurate. Please verify all information before trading. You alone are responsible for your own investment decisions. Options involve risk and are not suitable for all investors. Before trading options, please read Characteristics and Risks of Standardized Option (ODD), which can be obtained from your broker; by calling (888) OPTIONS; or from The Options Clearing Corp., 125 S. Franklin St., Suite 1200, Chicago, IL 60606. No statement in this newsletter is intended to be a recommendation or solicitation to buy or sell any security or to provide investment or trading advice. Traders and investors considering options should consult a professional tax advisor as to how taxes may affect the outcome of contemplated options transactions. Copyright Market Taker Mentoring, Inc. 2008 - 2020. All rights reserved. Reproducing or redistributing this content is a violation of federal law.

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