In episode 16 of Where Do I Start, Jim Schultz introduces the iron condor, and it's the first neutral strategy in the whole series. That's the big unlock for new traders: you don't have to call the market up or down. Instead of picking direction, you're trading the other forces in an options contract, time and volatility, with the trade set up to benefit from positive theta and negative vega.
Jim is refreshingly honest that iron condors aren't his personal favorite, but he explains why they're so valuable when you're building reps and learning properly.
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Chapters:
00:00 Welcome to episode 16
00:21 Why beginners should learn this
00:57 The first neutral strategy
01:26 Trading theta and vega, not direction
02:40 Two short spreads stacked together
03:03 The bullish and bearish sides
03:57 Building one on the platform
04:21 Why defin...