Hopefully, since you are reading my article, it will inspire you and others to begin their own investigations into this technique. I personally think the Unbalanced Condor should be the most used strategy for retail investors. I hope word spreads about the wonderful qualities of this option spread.
For example, how would you like to trade options in a circumstance where it's nearly impossible to lose money in one direction, and in the other direction, there is nearly a 100% guarantee that you will make money? Doesn't that sound ideal? And what if I told you that you can also make money on this trade if the market does not move? On paper this looks like the perfect strategy. It would seem there is no way to lose.
Well, it is possible to do lose something on this trade, and actually, you can lose quite a bit on this trade just like any other option strategy, but only if you do not know what you're doing. If you get too aggressive and try to make money too fast with it, you can also lose with it. The secret to the Unbalanced Condor is learning to be a patient trader. Once you master the patience and the simple adjustments that go along with this spread, then it's really hard to lose on this trade. I think you'll find that your worst-case scenario would result in about a 1 to 2% loss.
At San Jose Options Mentoring, you'll find experts on this strategy; it's one of their specialties. At this current moment, I don't know of any other courses out there that teach this strategy at all. They've been developing and redefining this strategy over the years and have developed ways to lock in profits on this strategy as they come. They have developed ways to manage this trade over different types of markets, ways to neutralize the Vega position on this trade while maximizing Theta. They call this trade the "Revolver" for its qualities to combat the stock market.
If you want to learn all of the nuances of this rarely talked about strategy, then I highly suggest you do some research to learn more about it. It's definitely a great way to minimize risk with options instead of trading the traditional Iron Condors that everyone else does.
By Donald Scott