Option Strategies for Directionless Markets: Trading with Butterflies, Iron Butterflies, and Condors

Overview

Making great trades in a directionless market can be a challenge, and directionless markets occur more frequently than bull and bear markets combined. Options pioneer Anthony J. Saliba provides the tools and tactics needed to take advantage of a sideways market. Saliba focuses on strategies in the butterfly family of options: butterflies, condors, and iron butterflies, showing how to the use these sophisticated tools in directionless markets.

This hands-on guide illustrates...

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Overview

Making great trades in a directionless market can be a challenge, and directionless markets occur more frequently than bull and bear markets combined. Options pioneer Anthony J. Saliba provides the tools and tactics needed to take advantage of a sideways market. Saliba focuses on strategies in the butterfly family of options: butterflies, condors, and iron butterflies, showing how to the use these sophisticated tools in directionless markets.

This hands-on guide illustrates numerous market scenarios to show you step-by-step how and when to apply these butterfly strategies. You’ll find out how to identify, enter, manage, and exit a trade. Exercises and quizzes test your comprehension to make sure you have the knowledge to tackle directionless markets.

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Product Details

  • ISBN-13: 9781576602492
  • Publisher: Wiley
  • Publication date: 3/1/2008
  • Series: Bloomberg Financial Series , #65
  • Edition number: 1
  • Pages: 224
  • Sales rank: 1,034,844
  • Product dimensions: 8.54 (w) x 10.92 (h) x 0.60 (d)

Meet the Author

Anthony J. Saliba has been active in the derivatives market for more than twenty years. He is a member of several financial exchanges and has served on the Board of Directors of the CBOE. His firm, the International Trading Institute, is an acclaimed training organization, reaching thousands of traders worldwide. Saliba was profiled in the best seller Market Wizards.

Karen E. Johnson serves on the Board of Directors of ITI.

Joseph C. Corona is an adjunct instructor at ITI and is a frequent speaker at industry conferences.

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Table of Contents

List of Figures.

Acknowledgments.

Introduction.

1. Strategies for the Directionless market.

2. Long Butterfly Spread basics.

3. Long Condor Spread Basics.

4. The Greeks.

5. Application of the Greekd.

6. Understanding Iron Butterflies and Condors.

7. Popular Mutant Structures.

8. Strategy Application.

9. An Interview with Anthony J. Saliba.

Appendix A: A Final Exam.

Appendix B: Glossary.

Index.

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