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Trading during highly volatile market conditions means high risk. Follow our trading instructions for setting up stop losses and position sizes and achieve a more capital-efficient trading strategy with reduced, predefined risk.
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Don’t just take our word for it…
Updated weekly. Data collected from app.wingmantracker.com
|Total Realized P/L||TOTAL COMMISSION AND FEES||NUMBER OF TRANSACTIONS||NUMBER OF POSITIONS||AVERAGE P/L||WIN RATE||AVERAGE WINNER||AVERAGE LOSER|
Analysis based on 26 positions that have a close date between 2020-05-24 and 2020-05-31.
Our proven trading strategies
The long straddle is a great strategy for volatile markets. When you are confident that a security’s price will move significantly, but are unsure of the direction in which it will move, this simple to apply strategy can potentially offer unlimited profits with limited risk.
In essence, to implement a long straddle options strategy you would purchase a call and put options simultaneously on the same underlying asset, for the same amount of money, at the same strike price and expiration date.
Vertical Spreads - Bull Calls and Bear Puts
Two of the most common vertical spreads, Bull Calls and Bear Puts are almost the same as buying calls and puts, with the exception that they will cost you less and can reduce your downside risk. In vertical spreads, an investor essentially purchases one option while simultaneously sells another one at a higher strike price using both calls or both puts.
In a bull call strategy, investors profit from a limited increase in an asset’s price. To implement this strategy, you would buy an option at a lower strike price and sell a less-expensive option against it, getting a credit for the short position but paying more for the long one, or buy a call at a specific strike price and sell the same number of calls of the same underlying asset and with the same expiration date, at a higher strike price.
By using a bull call strategy, investors limit the upside on the trade, however, they are also able to reduce the net premium in comparison to buying the naked call option.
In a bear put strategy, an investor profits with falling prices. To implement this strategy, you would buy a higher strike price put option and sell a lower strike put of the same underlying asset and with the same expiration date. By doing this, although you limit profits and essentially forgo large gains if the asset plummets in price, you are able to reduce the cost of entering the position in comparison to buying only the higher strike put.
Investors typically look at bear put strategies when there is an expected gradual price decline in the short term.
Protective strategies - Married Put and Covered Call
These two protective strategies, married put and covered call, are common hedging strategies implemented by traders who want to protect their profits in the event a position is reversed, but do not want to liquidate their positions.
In a married put, a trader seeks to protect their downside risk on a previously-bought asset without selling it because while the short-term forecast might be bearish, the long-term forecast is bullish. By using a married put, the investor will reap the benefits if the asset gains value, while protecting himself from the downside. This bullish strategy works as an insurance policy establishing a bottom in the event of a sharp price decline.
To put this strategy in place, a trader would buy an underlying asset as well as the associated put option typically priced lower than the asset. By owning both the asset and the put, the trader is protected from any decline below the put’s strike price. The more options you buy and the lower the strike price, the more protection you get, albeit at an increased entry price
In a covered call, a trader aims to generate income and limit risk based on the belief that the market will either remain flat or slightly dip. If the asset drops below the strike price upon expiration, then you keep the stock and can write a new covered call. If the market rises however, you must deliver the shares to the call buyer at the strike price, so in essence, the market will be riding a high wave without you on it.
To implement a covered call strategy, the trader must first purchase the underlying asset, while at the same time selling a call option on that same asset.
Butterfly and Condor Spreads
Both butterflies and condors are designed to gain a profit from a market that is expected to move quickly and sharply, with no knowledge of the direction in which it will move. This is a great strategy to use during highly volatile times or around a company’s earning report for example. Both these strategies are set up with four option spreads (either all calls or all puts) at various strike prices and an equal number of contracts in each leg of the spread.
The main difference between a condor and a butterfly spread is that the condor uses options with 4 consecutive strikes, whereas the butterfly uses 3. The condor also has a wider break even point, enabling it to remain profitable during a longer range of the underlying asset price.
To establish a condor spread, whether you are using only call options (call condor spread) or only put options (put condor spread), the composition of this strategy suggests purchasing one far in the money option (lower strike), selling one in the money option, selling one out of the money option, and purchasing one further out of the money option(higher strike)
As long as the underlying asset remains within the profitable price range, both calls and puts can perform equally well.
To implement a butterfly spread strategy, you also need four option contracts with the same expiration as in the condor spread, but three different strike prices with the lower and higher strike prices are set at equal distance from the at the money strike price.
Iron Condor and Iron Butterfly
Iron Condor and Iron Butterfly are two popular, non-directional strategies profiting from the same conditions of range bound markets and decreased implied volatility, but with the iron condor having a wider structure, lower profit potential, and higher probability of success and the iron butterfly having a better risk-to-reward ratio and the opportunity to produce higher returns if the underlying asset stays close to the sold strike price.
For the iron condor strategy to prove profitable, the underlying asset must close somewhere between the middle strike prices at expiration. Choosing the strike prices for your iron condor position is tightly linked to the amount of cash credit you are willing to accept for the risk. To implement it, you need to establish four options (2 puts and 2 calls, a short one and a long one each) and four strike prices all with the same expiration date as follows: Buy one out-of-the-money put with a strike price below the current price, sell one out-of-the-money put with a strike price closer to the current price, sell one out-of-the-money call having a strike price above the current price, and buy one out-of-the-money call with a strike price further above the current price.
A subset of the iron condor strategy, the iron butterfly proves most profitable when the underlying asset remains at the middle strike price with the maximum profit being the premiums received.
To implement an iron butterfly strategy, you would buy one out-of-the-money put with a strike price below the current price, sell one at-the-money put, sell one at-the-money call, and buy one out-of-the-money call with a strike price above the current price.The result is a trade with a net credit ideal for lower volatility scenarios.
Our recommended risk management strategies
We are obsessed with stop losses. When anything from political turmoil, to central bank rumors, and global events can quickly turn the market in the wrong direction, having a predetermined point of exit for a losing trade will guarantee you live to trade another day. Even the savviest of traders will take a position on the wrong side of the market at one point or another, and our alerts and strict adherence to stop losses are designed to limit your exposure when the day comes.
We also recommend a maximum exposure of no more than 5% of your capital in any given trade.