SHERIDANMENTORING – CREDIT SPREAD CLASS 2015

SHERIDANMENTORING – CREDIT SPREAD CLASS 2015
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CREDIT SPREAD CLASS
Class Description: Learn how to find and manage Credit Spreads for Monthly and Weekly income. Work side by side with Dan Sheridan as he shows you (1) when to put a Credit Spread on, (2) how to enter and exit a Credit Spread trade, and (3) how to adjust when the market goes against you.
Detailed Class Content

Class #1: Credit Spread Fundamentals & Essentials with Dan
0-1:49 Hello and Greeting

1:50- Class page review

4:40- Teaching: Overview of Credit Spreads (Introduction)

6:10- Looking ahead: Future Class dates and Speakers

10:35- Teaching: Overview of Credit Spreads

27:50- Teaching Overview: Is Risk/Reward good with Credit Spreads?

33:17- Best to do credit spreads getting 1/3 of width of the strikes as a Credit?

35:- Which credit Spread is best when looking at Risk/Reward? 3 Criteria

35:50- Assignment problems with Credit Spreads favor OTM credit spreads?

40:36- Teaching Overview: Probabilities (Dan illustrates a High Probability Credit Spread System for Today’s Market)

49:30- Teaching Overview:Strike Selection of Credit Spreads

56:55- Teaching Overview: Most important thing in this Class? Have to limit losers

1:03- Teaching Overview: Best Duration for Credit Spreads

1:04:10- Teaching Overview: What vehicles to trade?

1:09:05- Q and A: Definition of High and Low VIX?

1:09:40- Q and A: Two tweaks for trading put credit spreads in today’s Market with price levels high in SPX and VIX low?

1:13:24- Q and A: When I would exit a losing Credit Spread?
Class #2: Credit Spreads vs. Iron Condors and Risk Management for Credit Spreads with Dan
1- Intro and Class Outline Today

3:20- Review of Class page and Annotation for each class

5:50- What I will cover in Today’s Class?

7:14- Speakers for the 2nd week

8:07- Better to do Credit Spreads or Iron Condors?

27:20- How to get the best execution on Credit Spreads?

31:36- When should I initiate my Credit Spread?

37- Credit Spreads or Iron Condors during Earnings?

43:46- Technicals and Contrarian Opinions in structuring Credit Spreads?

50:30- Key Risk Management for Credit Spreads: Profit and Loss Targets

1:01:13- How to diversify price risk with Credit Spreads and How to Scale Credit Spreads?

1:05- Looking at Potential live call credit spread in SPX today and discussed execution and what price to sell the credit spread for.

1:13- When and how I will cover remaining Bullet Points in the Overview Outline for today I didn’t cover?

1:14:50- Announcement of June Live Option Trading Seminar in Chicago June 25-26.
Class #3: Running a Credit Spread Trading Business, with Veteran trader Tim Pierson
Class#4: Credit Spread Adjustment Strategy, Simple or Complex? with Jay Bailey
Class #5: Credit Spread Adjustments with Dan
1- Intro

1:25- Good vehicles for Credit Spreads?

2:30- Strike Selection and spread width for Credit Spreads?

5- Minimum Credit I want for Credit Spreads?

5:38- Profit and Loss Targets for Credit Spreads?

7:09- Adjustment Philosophy? Do Adjustments change Max loss targets?

9:29- Most important things to know about credit spreads?

11:27- Adjustments: Case Study using NFLX as an example

18:13- 1st adjustment :for credit spreads: Roll up the Credit Spread

22:57- 2nd Adjustment for credit spreads: Roll up credit spread and increase size a bit to get close to original credit.

25:25- 3rd adjustment for Credit Spreads: Use debit spreads to slowly adjust the credit spread into an Butterfly.

30:05- 4th Adjustment for Credit Spreads: Using a debit spread to eventually morph the credit spread into an vertical

on the upside if the stock keeps increasing.

32:43- 5th Adjustment for Credit Spreads: Adjusting the credit

spread into an Iron Condor.

35:47- 6th Adjustment for Credit Spreads: Using Long Options to adjust

38:03- 7th Adjustment for Credit Spreads: Narrow the width of your credit Spread

39:17- 8th Adjustment for Credit Spreads: Reduce the credit Spreads

40:27- Final Comments and questions

48:31- End
Class #6: Different indicators to look at when entering your short Put positions, with Dan and Paul White
0- Dan and Paul White Jr, Veteran student in Sheridan Mentoring

4- Example of Live Short Put Calendar trade in SPX Paul has on. Paul will discuss the indicators he looks at.

1:02- End
Class #7: Put Credit Spreads and discussion on Insurance with Dan
1- Intro and Outline:

1) Example of Put Credit Spread and Adjustments

2) Ratio Butterfly- Didn’t get through today

3) Put Credit Spreads using Insurance

1:25- Discussed E-mail from Student regarding previous class with Paul White Jr. Dan walked through Put Credit Spread example to

discuss adjustments like Paul White Jr. would have done.

4:10- Walked through Put Credit Spread with Adjustments and Risk Management in SPX.

59- Talking about insurance with Iron Condors by how I structure the Iron Condor and also by adding long puts.

1:09:04- End