I am in a couple of trading groups that share knowledge and got tapped that my website was highlighted in someone’s video regarding trading the Iron Condor on SPX options. The only problem is they stated this site was owned by Jim Olsen.
What the fuck, no this is my site. Okay, settle down Joe, it’s your own damn fault. You did not put an “about me” link on your front page.
I’m really not upset, I found it to be quite humorous. I know of Jim through a trading group and he has done a lot of work testing an Iron Fly strategy for SPX. Do I use this strategy, yes. Does it work, yes. Will it rip off your face if you don’t manage it, YES. Is this Jim’s site, NO.
So the cute smart trader, who we will call Ariana Grande (the eyelashes gave it away), was nice enough to give this site a shout out even though she thought Jim owned it. Anyway, kudos to her for doing a good job of explaining how to set up the trade.
Be aware that this trade has wide wings and can quickly rip your face off when the market moves fast. So yes, make sure you trade this mechanically and have stops in place. I am one of the reckless traders she talks about 🙂