Dan Sheridan – Trading Weekly Options for Income in 2016

In this class, Dan Sheridan shares with you how he constructs, trades, and manages his Weekly Options positions.

See the Tentative agenda for this class below:

• Free Webinar Thur. March 3rd.
• 1st Class Wed Mar 16: Iron Condors
• 2nd Class Fri Mar 18: Iron Condors: Part 2
• 3rd Class Wed Mar 23: Calendars
• 4th Class Fri Mar 25: Calendars: Part 2
• 5th Class Wed Mar 30: Butterflies
• 6th Class Fri Apr 1: Butterflies: Part 2

Dan will look to put on a live trade in each class that you can follow along with.

Detailed Class Content

Class #1: With Dan
Topic: NFLX Double Diagonal

0- Introduction and information on the class
14:25- Whiteboard chalk talk on Double Diagonals and Iron Condor basics
40:30- Power point on Double Diagonals
81:30- Going over a live Double Diagonal Weekly Trade in my Brokerage platform
120:55- End of class (Class time 2 hours)

Class #2: With Dino Karahalios
Topic: Weekly SPX Iron Condors with Dino

0- Introduction with Dino and a discussion on his journey to become a Successful Options Trader
12:25- Guidelines Weekly Iron Condor with a risk management plan and several examples.
85:04- End of class (1 hour 25 minutes)

Class #3: With Dan
Topic: Weekly Butterflies

0 min- Intro, Today’s Class, Announcements
5:15- Review of live Class Trades
20:25- Today’s live Class Trade: SPX Weekly Butterfly and execution discussion
38:40- Whiteboard Chalk talk: Big Picture Plan for a $30,000 Portfolio of Option Trades
47:40- Weekly Butterflies in SPX and my live Butterfly Weekly Trade
52:25- Weekly Butterfly Guidelines
78:05- Discussion of June Chicago Options Seminar
80:01- End of class (1 hour 20 minutes)

Class #4: With Dan
Topic: Weekly Calendars (Beginner, Intermediate, and Advanced Methodologies)

0 min- Introduction, todays class, and announcements
2:10- Whiteboard Chalk talk: Call Butterfly versus Put Butterfly versus Iron Butterfly
14:05- Todays Live Trade : Weekly Calendar and a discussion on execution
43- Q and A: How does a Calendar make money ( Beginner Question)
50:35- Whiteboard Chalk talk: Putting on different Butterflies based on SPX or RUT price levels
and my adjustment methodology for Weekly Butterflies
60:10- Guidelines for Weekly Calendars: Methodology # 1 for Beginners, Methodology #2 for Intermediate traders,
and Methodology #3 for advanced traders.
98:55-End of Class (1 hour 38 minutes)

Class #5: With Dan
Topic: Weekly Ratio Butterfly

0 min- Introduction, announcements, and what we will cover today
8:25-Whiteboard Chalk talk : Butterflies and Adjustments
25:25- Review Live Weekly Calendar Trade from previous class
34:35- Jay Bailey’s Average True Range Indicator for Weekly Calendar Trades
45- Live Trade for today: Weekly Ratio Butterfly in SPX (Discussed Execution process)
54:10- Guidelines Ratio Butterfly in SPX including Risk Management Plan and adjustments
70:53- End of Class (1 hour 10 minutes)

Class #6: Final Class with Dan
Topic: Class and Strategy Review + Student Q & A.

0 min- Introduction
47- Access to archived materials going forward?
1:55- Next Online Class?
2:13- Mentoring at Sheridan Mentoring?
2:43- Live June 2016 Chicago seminar.
4:25- Which Weekly strategy covered in class should I use OR Which is the best strategy?
5:22- How much capital should I trade each week?
5:55- How many Weekly strategies should I trade each week?
6:15- What yields should I expect when I trade these strategies?
8:20- How to build a good Weeklys foundation?
8:32- Ideal duration for weekly Trades?
9:04- How to diversify my price risk with Weekly Trades?
9:19- Should I adjust Weekly Trades?
10:07- How to get good execution on Weekly Trades?
11:16- Best vehicles to trade for Weekly Trades?
11:41- How to get good commissions on Weekly Trades?
14:17- Q & A, What to do with a Weekly Iron Condor when you hit the Max Loss before you even hit one of the short strikes of the Iron Condor?
16- Q & A, Which strategy is best for specific market conditions?
18:04- Q & A, Which 2 strategies are your go to Weekly Strategies?
18:39- Q & A, Would you still do Iron Condors if the implied volatility was low?
19:33- Q & A, Would I ever trade SPY or IWM for Weekly Strategies?
20:03- Q & A, Do the customers of this class qualify for some of the reduced rates Sheridan Mentoring students get with Brokers?
20:23- Q & A, Is there 1 strategy to stick with above all strategies?
21:38- Q & A, What should be the next logical progression for students who have taken this class?
22:28- Q & A, Do I get out of Iron Condors for the Maximum Loss even if the price of the underlying is within the profitable
area of the graph between the short strikes?
23:29- Q & A, How do I scale out of a trade when I have multiple contracts on?
24:50- Q & A, Did any of the 6 live trades put on during this class lose money?
26:53- Q & A, What is the “Sheridan Community” and what is Sheridan mentoring all about?
29:20- Review of Class Strategies with an example: Weekly Ratio Butterfly (from Class #5 on Friday April 1)
38:20- Review of Class Strategies with an example: Weekly Butterfly (from Class #3 on Wednesday March 23)
44:38- Review of Class Strategies with an example: Weekly Iron Condor (from Class #2 Friday March 18)
48:55- Review of Class Strategies with an example: Weekly Calendar (from Class #4 Wednesday March 30)
51:45- Q & A, How to adjust Weekly Iron Condors?
53:30- Q & A, Comments about the new Wednesday Weekly Expirations.
54:08- Q & A, How to adjust a Weekly Calendar?
58:05- Review of Class Strategies with an example: Double Diagonal in NFLX (from Class #1 Wednesday March 16)
64:35- Q & A, In a fast moving market do I sit tight with my trade or adjust?
65:25- Q & A, Comment about the Wednesday Weekly Expirations that have been recently introduced.
65:40- Q & A, Why did the NFLX Graph in the above Double Diagonal example look so bad?
66:32- Q & A, In above NFLX Double Diagonal example, how do I know I’m at a Max Loss?
67:30- Q & A, In above NFLX Double Diagonal example, how do I know when I have made my profit target?
69:09- Q & A, Do you have to do 1-on-1 training with Sheridan mentoring to join the Sheridan mentoring Community?
68:56- End (1:8:56)