Butterfly Class 2015
Learn to Trade with Butterfly Strategies.
Class Description: Butterfly options trades come in a variety of styles. 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, much more! This class will equip you to be a top-tier Butterfly trader.
Class Format: This class is a collection of video recordings from the actual Live class that began February 25, 2015. Once a student buys a class, an email is then sent, containing login credentials to access the archived class page. Typically, each class runs for four weeks, with two classes each week. Some classes contain additional videos and sessions. Purchasing access to a class gives 6 months of access to all class recordings, as well as trade updates, PDF’s and PowerPoints. Any questions? Email us at info@Sheridanmentoring.com
- You are welcome to ask questions directly to Dan or another mentor
- Each class recording is a minimum of 1 hour, total of 10-12 hours approximately
- All fees for online classes are deductible towards our GOLD Mentoring Program ($1000 limit) Click Here
Detailed Class Content
First Class: With Dan talking about: The Split Strike Butterfly
1- Introduction and outline for Today’s Class
1:15- Description of Class Page and its contents and how to ask questions and see archived recordings.
3:55- Introductory Teaching: Butterfly Material, Greeks of the Iron Butterfly,
comparison to Iron Condors, Longer Duration Iron Butterflies versus shorter duration Iron Butterflies like Weeklys.
47- Teaching: Split Strike Butterfly
1:13- Today’s Live Class Trade #1: RUT Split Strike Butterfly
Class Ends at 1 hr 31 min and 30 sec
Second Class: With Dan talking about: Weekly SPX Butterfly
1-4: Intro and outline for today
4- Teaching: Stock Butterfly Candidates
33:55- Live trade for today’s Class and Teaching on the Weekly Unbalanced Butterfly: SPX Weekly Unbalanced Iron Butterfly
46:20- Case Study in the Weekly Unbalanced Iron Butterfly with Risk Management, Tweaks, and Adjustments.
Class Ends at 1 hr, 33 min and 49 sec
Third Class: With Dan talking about: SPX Put Broken Wing Butterfly
.27- Question on extended trading hours in SPX
1:30- Class Topic Today: Broken Wing Butterfly in SPX in the Puts
2:40- Review Current Class Trade #1 RUT Split Strike Butterfly
6:20- Review Current Class Trade #2 SPX Weekly Unbalanced Iron Butterfly that we took off for a profit
9:35- Live trade for this class: Broken Wing Butterfly in SPX
14:15- Teaching: Broken Wing Butterfly with full Risk Management Plan with adjustments, word document included.
1:07:40- Last look at today’s live Broken Wing Butterfly
Class Ends at 1 hr 9 min and 41 sec
Fourth Class: With Dan talking about: The 30-40 Day ATM Butterfly
1- Dan talked about Annotation on Class page
5- Teaching: 35-40 Day RUT Butterfly (at-the-money). Dan just gave a quick introduction here.
6:50- Review of Class Trade #1: Split Strike Butterfly in RUT
14:40- Review of Class Trade #3: Broken Wing Butterfly in SPX and accompanying adjustment
29:15- Question: Can we do an double broken wing butterfly, one on call side and put side? Dan shows an example.
32:30- Teaching: Monthly Butterfly in SPX with Word Doc
33:50- Set up of 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.
58:35- Teaching and Case Study: Monthly Butterfly in RUT
Class Ends at 1hr 32 min 1 sec
Fifth Class: With Dan talking about: The 30-40 Day ATM Balanced Butterfly in RUT, SPX, and AAPL
0- Intro, what I’ll cover today
1:00- Reviewed annotation of last class on the class page
4:05- Teaching: AAPL Stock Butterfly example (Using word doc or PDF): Introductory comments
4:45- Question: How do we select stocks or Indexes for Broken Wing Butterfly Trade
6:25- Teaching: AAPL Stock Butterfly (going off of PDF with guidelines). Covered plan and adjustments.
43:10- Review Class Trade: Broken Wing Butterfly Trade #3 in SPX
49:45- Live Class Trade for today’s Class: RUT 37-38 Day Iron Butterfly (Unbalanced) for $32.85 credit
55:05- Teaching: Balanced Iron Butterfly in RUT with setup and plan and adjustments
1:10:09- Announcement: upcoming seminars in Phoenix and Chicago
Class Ends 1 hr 12 min and 39 sec
Sixth Class: With Dan talking about: Talking Directional Butterflies
1:38- Picking stocks for Directional Butterflies
4:10- Calls or Puts for Directional Butterflies
4:33- Technical Considerations for Directional Butterflies
5:40- Duration of Directional Butterflies
6:36- What strikes to use for short strike?
8:35- Width of Butterfly?
11:13- Cost of Butterfly and buying a butterfly for zero?
11:55- Adjustments to an Directional Butterfly?
29:21- Q and A Positive Vega to Bearish Butterfly on upside? (Using AMZN example in class)
32:45- Review Class Trade #3 SPX Broken Wing Butterfly
40:20- Review Class Trade # 4 RUT Imbalanced Butterfly
48:35- Live Class Trade: AAPL Iron Butterfly 30 Days to Expiration
Class Ends 1 hr 27 sec
Seventh Class: With Dan talking about: Portfolio of Butterflies, Mixed Expiration Butterflies, Double Broken Wing Butterflies, and Double Time Bomb Butterflies
1- Intro and outline of today’s class
2:00- Teaching Time: Running a $10,000 Portfolio of Butterflies
9:10- Teaching: Mixed Month or Mixed Expiration Butterflies to hedge the short Vega risk of Butterflies
26:20- Teaching: Double Broken Wing Butterflies as an alternative to Iron Condors
39- Review Class Trades: Trade #3 Broken Wing Butterfly
47:50- Review Class Trades: Trade #4 Iron Butterfly in RUT
50- Review Class Trades: Trade #5 AAPL Iron Butterfly
56:37-End- Q and A and general discussion
Eighth and final Class with Dan: Insurance for Butterflies and Butterfly Adjustments
1- Teaching: Intro and today’s outline
1:10- Teaching: 4 most Popular Butterfly adjustments
52- Teaching: Insurance for Butterfly Trades (Using AMZN as an example)
1:02:20- Live Trade: SPX Weeklys
Class Ends 1 hr 15 min and 6 sec
Important Notice- Course Materials Disclaimer
The course offering can change at any time at Sheridan Options Mentoring’s Discretion. Any changes to this Educational Program will be posted on the web site, which will serve as notification of any changes. Dan Sheridan’s classes are for Educational purposes only. We are not an advisory service, nor do we guarantee any kind of return on investment. Sheridan Mentoring does not offer refunds on online class purchases.
Important Notice- Risk Disclaimer
Futures & Stock options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and stock options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to buy or sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The pas performance of any stock option trading system or methodology is not necessarily indicative of future results.
Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual stock option trading. Also, since the option trades have not actually been executed, the results may have under- or over- compensated for the impact, if any, certain market factors, such as lack of liquidity. Simulated stock option trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.