Rolling Naked Puts Part 2

     Jeff, your site has really given me some wonderful information. I bought the course that you tout on here in the fall of 2010 from another affiliate. After watching it for hours on end and trying different strategies, I almost gave up during that fall as some of the strategies I couldn’t seem to get to work. I kind of put it to the wayside and started back watching the whole course during the latter part of summer 2011, I then started playing with Iron Condors and putting on demo trades in my TOS acct. after I finally figure out what I was doing wrong with them and got them to work. Needless to say, I had lost about $5000 in the fall of 2010 with a $100,000.00 demo acct, trying to get some of the strategies to work, but since I finally figured how to really get just the Iron Condor strategy this fall in mid September to work, I’ve brought the acct. from about $95,000.00 to hopefully, by the end of this week, $133,000.00.      My biggest gains have been in the last month and half since I figured out how to write Iron Condor’s on Weekly Options. I’ve had no losing positions except the first two that I put on as I didn’t close them out the right way, I closed each option as an individual and the commissions ate up all of my profits.      I think the smartest move that I’ve made is when I put an Iron Condor on, I try to take the price that I have and then spread it out broadly above and below the current price at equal levels. This has really been an eye opener and has worked very well since we know we can’t control price, it moves and fluctuates on it its own.      I’ve never used the full amount of option buying power that I’ve had since playing around with these, making sure that I have 20-40grand in the demo acct. to adjust if needed. Luckily, I haven’t had to adjust once, but did have two close calls on an Apple Iron Condor that luckily worked out as it was .30 shy of going beyond my spread. Most of my Condor’s have averaged about 17% to a little over 25% profit. Also, against the course’s better judgement, I’ve been letting the Iron Condor’s expire since I’ve been doing the weekly ones. I find it much easier to just let it be if I’ve got a lot of room to work with as opposed to if I’d be putting a monthly Iron Condor on. I’m also saving commissions as when they expire, you pay no commissions on the other end.      After watching your video on adjusting the CME Iron Condor, how would this work on a weekly option of for example an Iron Condor on SPX or SPY? Would there be enough time to adjust given the 5-6 day period before expiration? Also, again utilizing the weekly Iron Condors, would it be wiser to leg into an iron Condor utilizing the verticals? Put one on and see how the price moves after a day or so adjusting the spread?     I’d like to thank you in advance for your time and efforts in answering these questions as well as thanking you for all of the time and effort that you’ve put into this website. I’m really glad that I’ve found it, it’s been very helpful. Thanks again, David B.

I like your “tracking” system w/ the info on the charts.  I should get more disciplined with this.