Dan Sheridan – The All Put Flat Butterfly
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.
First Class with Dan – Basics, Different Butterfly types, The Greeks and Live Trade Execution
Second Class with Dan – Balanced Butterflies, Continuing The Greeks, & Intro on Broken Wing Butterflies
Third Class with Mark Fenton – Flat Iron and All Put Butterfly
Fourth Class with Jay Bailey – The Mango Butterfly
Fifth Class with Dan – Reviews the first 4 classes and puts on a live trade
Class Six with Dan – Reduced Vega Butterfly, Stock Butterflies, Extensive review of a class trade and discussion of today’s live trade.
Class Seven with Mark Fenton – Directional Butterflies
Eighth and Final class with Dan – Summary and Greeks of 7 Butterflies and Butterfly Battle Plan moving forward and also some Q and A
What You’ll Learn In The All Put Flat Butterfly?
Class #1 with Dan: All PUT Flat Butterfly
0:00- Introduction, Philosophy and Outline of All Put Flat Fly
10:55- Dan Puts on Live Trade, All Put Flat Fly in SPX
34:55- Whiteboard Teaching on the All Put Flat Fly, discussing structure and characteristics of this trade.
54:10- SPX All Put Flat Fly Components
59:46- All Put Flat Fly Cost and Basics
62:00- Upside Adjustments: Put Credit Spreads
71:00- Downside Adjustments: Put Debit Spreads
75:34- End
Class #2 With Mark Fenton: The All PUT Flat Fly
0:00- Dan introduction and discussion of his previous live trade.
20:00- Introduction of the All put fly and Mark’s experience with it.
27:00- The basic set of the SPX all put flat fly and profit /loss levels.
31:00- Adjusting the all put flat fly.
37:00- Graph examples of all put flat fly set up and adjustment.
47:00- Graph examples of second adjustments to the fly.
51:00- Live trade example.
69:00- Q& A, End
Class #3 With Dan: Contrasting Different All Put Flat Fly Methodologies.
0- Introduction
0:45- Review of Live Class Trades
21:30- Review of Mark’s All Put Flat Fly and Risk Management Guidelines
29:20- Q & A
32:51- 1 Year SPX Price Chart
32:57- Example of 46 Day All Put Flat Fly (Dan comparing different adjustment methodologies)
37:37- Above example 2 days later on a big down day.
42:12- Mark’s Upside Adjustment: The Double Butterfly
47:21- Put Credit Spread Adjustment on the upside
53:50- Wider Put Credit Spread Adjustment on the Upside
56:24- Longer Duration All Put Flat Fly: 66 Days till Duration
59:25- Shorter Term All Put Flat Fly: 16 Days till Expiration
62:30- Looking at the Market on a big down day, SPX down 1.5% today. Discussed Standard Deviation.
61:35- End
Class #4 with Dan: Short Term All Put Flat Flys
0- Introduction
3:07- Comment on current Live Class Trades
3:55- Short term 14 Day All Put Flat Fly example with Guidelines and Adjustments
26:15- Dan’s favorite way of doing Short Term All Put Flat Fly
28:47- Discussion of Live 2 Day Chicago seminar June 15-16, 2017
29:50- Review of Live Class Trades, discussion of adjustments, methodology and some Q&A.
57:43- End
