In this episode of hungry for returns, we are going to talk about how to convert and iron condor into a double diagonal, and the advantages, disadvantages and risks of doing so.
Posted at: https://tradersfly.com/2018/10/iron-condor-double-diagonal-hfr-8/
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For a longer term version of this, it seems that entering when implied volatility is low would be key. That way long Vega should help you out.
I trade these a lot. Especially on AAPL. I agree with Sasha on not buying the backing-strangle too far out in time and I set these up to work with the earnings cycle. I like to buy the ITM backing-strangle which has about the same risk as the OTM strangle but builds-in resources to adjust the trade if the underlying starts to trend. Then I sell short-options in the near-term and roll them week-to-week. I always exit the short-options before earnings. The long strangle is safe to hold over earnings and has unlimited profit potential, if luck should so grace me with its presence.
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HEY SASHA, SHUTOUT FROM MIAMI, FL. I HAVE A SMALL VIDEO BUT I BELIEVE IS A GOOD VIDEO FOR YOUR COLLECTION OF GREAT VIDEOS. WHEN GETTING STARTED ON TRADING WHETHER ITS OPTIONS OR STOCKS, WOULD IT BE A GOOD IDEA TO CREATE AN ENTITY SUCH AS AN LLC OR CORPORATION AND NOT USE YOUR PERSONAL IDENTITY. OR AT LEAST CAN YOU PLEASE GIVE ANY INSIGHTS. APPRECIATE IT BUD, IN ADVANCE. CANT WAIT TO SIGN UP TO YOUR COURSES.. GOD BLESS..!!!!