Dan Sheridan Butterfly Course + Iron Condor Class Bundle Pack – Sheridan Mentoring

Course Overview

Butterfly options trades come in a variety of styles. Dan Sheridan Butterfly Course + Iron Condor Class Bundle Pack will equip you to be a top-tier Butterfly trader. The course equips you with various types of butterfly trading strategies.

Course Outline

First Class: With Dan talking about: The Split Strike Butterfly

• Introduction and outline for Today’s Class
• Description of Class Page and its contents and how to ask questions and see archived recordings.
• Introductory Teaching: Butterfly Material, Greeks of the Iron Butterfly,
• comparison to Iron Condors, Longer Duration Iron Butterflies versus shorter duration Iron Butterflies like Weeklys.
• Teaching: Split Strike Butterfly
• Today’s Live Class Trade #1: RUT Split Strike Butterfly

Second Class: With Dan talking about: Weekly SPX Butterfly

• Intro and outline for today
• Teaching: Stock Butterfly Candidates
• Live trade for today’s Class and Teaching on the Weekly Unbalanced Butterfly: SPX Weekly Unbalanced Iron Butterfly
• Case Study in the Weekly Unbalanced Iron Butterfly with Risk Management, Tweaks, and Adjustments.

Third Class: With Dan talking about: SPX Put Broken Wing Butterfly

• Question on extended trading hours in SPX
• Class Topic Today: Broken Wing Butterfly in SPX in the Puts
• Review Current Class Trade #1 RUT Split Strike Butterfly
• Review Current Class Trade #2 SPX Weekly Unbalanced Iron Butterfly that we took off for a profit
• Live trade for this class: Broken Wing Butterfly in SPX
• Teaching: Broken Wing Butterfly with full Risk Management Plan with adjustments, word document included.
• The Last look at today’s live Broken Wing Butterfly

Fourth Class: With Dan talking about: The 30 -40 Day ATM Butterfly

• Introduction
• Dan talked about Annotation on Class page
• 40 Day RUT Butterfly (at -the -money). Dan just gave a quick introduction here.
• Review of Class Trade #1: Split Strike Butterfly in RUT
• Review of Class Trade #3: Broken Wing Butterfly in SPX and accompanying adjustment
• Question: Can we do a double broken wing butterfly, one on the call side and put side? Dan shows an example.
• Teaching: Monthly Butterfly in SPX with Word Doc
• Set up 3 Popular Butterfly Techniques in Sheridan Community (Set up means how you initiate the Butterfly).
• 3 Techniques are Neutral Balanced Butterfly, Neutral Unbalanced Butterfly, and Bearish Butterfly.
• Teaching and Case Study: Monthly Butterfly in RUT

Fifth Class: With Dan talking about: The 30 -40 Day ATM Balanced Butterfly in RUT, SPX, and AAPL

• Intro, what I’ll cover today
• Reviewed annotation of last class on the class page
• Teaching: AAPL Stock Butterfly example (Using word doc or PDF): Introductory comments
• Question: How do we select stocks or Indexes for Broken Wing Butterfly Trade
• Teaching: AAPL Stock Butterfly (going off of PDF with guidelines). Covered plan and adjustments.
• Review Class Trade: Broken Wing Butterfly Trade #3 in SPX
• Live Class Trade for today’s Class: RUT 37 -38 Day Iron Butterfly (Unbalanced) for $32.85 credit
• Teaching: Balanced Iron Butterfly in RUT with setup and plan and adjustments
• Announcement: upcoming seminars in Phoenix and Chicago

Sixth Class: With Dan talking about: Talking Directional Butterflies

• Introduction
• Picking stocks for Directional Butterflies
• Calls or Puts for Directional Butterflies
• Technical Considerations for Directional Butterflies
• Duration of Directional Butterflies
• What strikes to use for a short strike?
• Width of Butterfly?
• Cost of Butterfly and buying a butterfly for zero?
• Adjustments to a Directional Butterfly?
• Q and A Positive Vega to Bearish Butterfly on the upside? (Using AMZN example in class)
• Review Class Trade #3 SPX Broken Wing Butterfly
• Review Class Trade # 4 RUT Imbalanced Butterfly
• Live Class Trade: AAPL Iron Butterfly 30 Days to Expiration

Seventh Class: With Dan talking about: Portfolio of Butterflies, Mixed Expiration Butterflies, Double Broken Wing Butterflies, and Double Time Bomb Butterflies

• Intro and outline of today’s class
• Teaching Time: Running a $10,000 Portfolio of Butterflies
• Teaching: Mixed Month or Mixed Expiration Butterflies to hedge the short Vega risk of Butterflies
• Teaching: Double Broken Wing Butterflies as an alternative to Iron Condors
• Review Class Trades: Trade #3 Broken Wing Butterfly
• Review Class Trades: Trade #4 Iron Butterfly in RUT
• Review Class Trades: Trade #5 AAPL Iron Butterfly
• End – Q and A and general discussion

Eighth and final Class with Dan: Insurance for Butterflies and Butterfly Adjustments

• Teaching: Intro and today’s outline
• Teaching: 4 most Popular Butterfly adjustments
• Teaching: Insurance for Butterfly Trades (Using AMZN as an example)
• Live Trade: SPX Weeklys

What Will You Learn?

• Learn about the different types of Butterfly Strategies, including the Split Strike Butterfly, the Weekly Unbalanced Butterfly, the Broken Wing Butterfly, and many more – as well as when to trade each
• Learn how to select the right stocks for the Butterfly, whether to choose Calls or Puts, how wide a Butterfly should be, when and how to adjust your trade
• And much more

Who Is This Course For?

Dan Sheridan Butterfly Course + Iron Condor Class Bundle Pack is for traders in stock trading, and options trading at all levels.