Not too long ago, I closed my 2017 Jan SPX Put butterfly with a profit of $720. Several days after my previous position, I initiated 2017 Feb SPX Put butterfly. As I said in my 2016 reflection, put butterfly is my bread-and-butter option trading strategy, which usually brings me consistent income every month.
Here are quick numbers of Ryan’s stats after the first month.
Iron condor is one of my favorite bread-and-butter trade every month. This strategy falls into my categorization of conservative speculation.
Traditionally, iron condor consists of two credit spread: one put credit spread, and one call credit spread. Iron condor has a limited risk, and has a limited profit. If you do not know what iron condor is, check out the following video by Sky View Trading.