Condor Options

The Lazy Guide to Delta Hedging

If your goal is to trade volatility (i.e., to be an options trader, rather than a stock picker just using options for leverage), but delta hedging isn't practical yet, risk-defined option spreads are a good intermediate step. We teach strategies for trading iron condors (short volatility) and calendar spreads (long volatility) in our paid newsletters.

The Lazy Guide to Delta Hedging

The best way to get practical experience trading options is just to fund an account and trade options. Keep a journal of every trade you make including all the relevant data (time, price, volatility, greeks, etc) but also the thought process and rationale for each trade. Also, keep trade sizes excruciatingly small until you're comfortable risking more. Some people paper trade first; that's fine, but it's no substitute for having real capital at risk.


On Jul 14 06:33 PM mbogosi wrote:

> Say what if I told you I've read Natenberg and some other various
> literature on the topic of Options trading. I just picked up the
> book you mentioned in your article. I've been studying options heavily
> and really would like to trading a career. How would be the best
> way to get some practical experience trading options and use some
> of the skills I've learned?