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Basic Iron Condor Lessons

I just published a few articles containing some basic iron condor lessons at about.com. The lessons are for newer iron condor traders. I plan to add to the series in the coming days.

Regular readers of this blog or my books will not find much in the way of new content because the linked articles are for very inexperienced option traders who want to learn something about trading iron condors.

For readers who are familiar with our typical posts,here is a link to one example of my more advanced thoughts about trading iron condors and managing risk.

Risk Graph for an Iron Condor Position

Condor_strategy

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Basic Trading Tenets

I posted a list of my recommended ideas when it comes to trading. You can find them here.

These are ideas that I’ve developed over a lifetime as a trader (1975 thru today).

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Introduction to the Greeks

The Greeks are easy-to-understand (honest) tools for measuring risk. You, the trader can delve into the math or you can accept the numbers generated by your broker’s (or use another source) software.

The basis of risk management is using the numbers to control the possible gains and losses from your options trading.

At my about.com site I just published a string of articles for newer option traders:

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Covered Call Writing

Writing covered calls is a popular strategy among newer option traders. One excellent reason is that it smooths the transition for a stock investor who is expanding his/her investing methods by entering into the world of options.

Covered call writing (CCW) is one method for reducing risk when owning stock, but it comes at the cost of limiting profits. Here are my thoughts on why someone may want to adopt this strategy. It includes both pros and cons.

Additional articles

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Recent News: About.com

I have two important announcements

One

Beginning today, Feb 4, 2014, I am the option blogger for about.com.

This project is so new that I do not yet have the URL, but I believe it will be: www.options.about.com

About.com provides articles and videos concerning a multitude of topics, authored by experts. With approximately 90 million users each month, this is one of the most-visited sites around. The new channel is part of the larger money channel.

My plan is to reach out to as many people as possible, the only requirement is that they have some desire to learn about options and how to use them effectively. I’ll be offering my usual high-quality lessons and commentary and the plan includes replying to every question submitted by readers.

Pay us a visit. I’ll add the official URL when I get it.

Two

I have been giving away an e-book entitled: Introduction to Options: The Basics. That book has now been expanded and updated as a Kindle ebook. Important note: This is a basic introduction to options for people who know nothing about the topic. There are no lessons that get the reader started with trading. Instead it is designed to give readers an idea of whether they have any interest in studying my favorite investment tool, options.

Amazon requires a minimum price of 99 cents for Kindle books.

Here is a link to the older, shorter (and free) .pdf version.

This book is part of the “Best Option Strategies Series”

IntroToOptions

http://goo.gl/uzfkVd

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