Can I make living trading options?

That’s what everyone wants to know.

Seems everyone hates their jobs and wants to sit back and trade options for a few minutes a day and make a very nice income.

And why not? Heck, that’s what I want. But it is doable? Is there anyone out there trading options for a living?

Answer: YES.

There are many people who trade for a living. But most traders don’t stick to just options or just stock. The ones I know trade everything – options, stock, bonds, commodities, even forex from time to time.

Can you make living selling options?

YES again. If you don’t get anything else out of my emails, I hope you see that making 10% on an option selling trade like an iron condor or butterfly is not that hard. We do it every month. The trick is to manage your positions and avoid loses since not every trade [...]

Part Four: Iron Condor Trading Strategy

There are as many iron condor trading strategies as there are iron condor traders. Everyone has their own preferences and style.

To create your own iron condor strategy you have to first choose the underlying. You don’t really need an iron condor screener or software program to find suitable candidates for you. Stick to Indexes and ETFs at first. As you become more experienced you can move into stocks.

Indexes and ETFs have the benefit of being composed of several companies and so the news, good or bad, of any one company will not affect the price as much. Pick one that you feel is relatively stable. Some good candidates are: SPX, SPY, RUT, IWM, DIA, QQQQ, NDX, MNX, XLE, XLF, and RTH.

Step two in creating your own iron condor strategy is to decide how far out from the money do you want to go. The farther [...]