Option Strategies for Directionless Markets: Trading with Butterflies, Iron Butterflies, and Condors
John Wiley & Sons, Mar 27, 2008 - Business & Economics - 188 pages
This hands-on workbook teaches you the most important trading strategies and how to apply them. You'll find out how to identify, enter, manage, and exit a trade. The special format makes it easy to learn; illustrations, exercises, "what-if" scenarios, and quizzes have you mastering the material in no time. The butterfly family of option strategies is covered, including: butterflies, iron butterflies, condors, broken-wing butterflies, pterodactyls, and iron pterodactyls. The Greeks--delta, gamma, vega, and theta--are also covered. Understanding the Greeks is essential to deciding how to apply the strategies.Anthony J. Saliba, widely known as a pioneer in the options industry, gives you the benefit of twenty-five years of experience on the trading floor. Joseph C. Coronoa, who has traded equity, equity indexes, fixed income, currency, energy, and commodities, has also delivered courses in advanced options trading and risk analysis to hundreds of traders and trading desks. He brings his experience in presenting complex material to this book, as does Karen E. Johnson who has spent much of the past fifteen years developing curricula and training programs for global financial institutions.
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2 Long Butterfly Spread Basics
3 Long Condor Spread Basics
4 The Greeks
5 Application of the Greeks
6 Understanding Iron Butterflies and Condors
7 Popular Mutant Structures BrokenWing Butterflies Pterodactyls and Iron Pterodactyls
Other editions - View all
$1.00 Net profit/loss 100 call value 95 call value 95 put value April 100 call April 95 call April 95 put at-the-money options bear call spread Bear Put Spread bear spread box spread broken-wing call butterfly broken-wing put butterfly Bull Call Spread bull put spread butterfly or condor butterfly position Buy 1 XYZ call and put call is worth Call Strike Put Corona Derivatives Cost of spread credit spread Debit Spread delta directionless market extrinsic value gamma implied volatility iron condor Long 1 XYZ long broken-wing call long call butterfly Long Call Condor long condor long iron butterfly long put butterfly long put condor Long XYZ April lower strike middle strike OPTION STRATEGIES out-of-the-money options P&L Diagram risk Short 1 XYZ short options Spread K1,K2 strike price structure trading range True or false underlying price underlying’s price value of spread vega vertical spread XYZ April 100 XYZ April 95