I just had the opportunity to study the whole OptionsTradingIQ's course for trading options for consistent monthly income and I'm glad I did.
His style is based on selling options for income (Butterflies, Diagonals, Iron Condors etc). In the course he shows how he manages three different positions with real money throughout a month. The course was filmed in 8 different sessions of over an hour each, where he had other traders following the trades live and asking questions. He dealt with an Iron Condor in RUT, a Butterfly in NDX and a Diagonal Condor in SPX (a personal variation of the Iron Condor that reduces volatility risk). All three positions are profitable in the end but that's not the most important part. The most interesting aspect to me was the fact that he had to make adjustments and this is where you have the chance to look at how a veteran manages his positions and always avoids worst case scenarios.
The RUT Iron Condor for example was entered and RUT rallied over 60 points just a week after his entry. Any Iron Condor trader knows how nerve wracking and dangerous this is. Through a series of adjustments he constantly manages the greeks in the position, reducing Delta and Vega exposure. He shows his adjustments and the rational behind them.
As part of the course not only do you get access to all 8 video lessons, but also to extra resources such as:
- His Iron Condor, Butterfly and Diagonal Condor trading plans in Microsoft Word format
- The slides of the first session in Power Point
- A compilation of questions and answers that took place during the course in Microsoft Word format
- A summary of the entries, adjustments and exits for each position along with explanations so that you don't have to watch the videos if you want to save time, or just for your future reference in a very compact way.
Of course you don't have to purchase anything!!! Nothing is mandatory in this life! But believe me, there is definitely good value in there if you want to take your trading to the next level.