SHERIDANMENTORING – HOW TO MANAGE A $25,000 PORTFOLIO

Class #1: With Dan talking Important considerations in Constructing a 25K Portfolio and Longer Duration Iron Condors

1- Intro and Outline
16:15- Philosophy: How do we trade for Weekly and Monthly Income?
Overall Portfolio Philosophy in Sheridan Mentoring- 3 Parts of a Portfolio
26:25- Magic of Repeatable Trades
30:15- Technicals in our Trading
39:10- Financial Goals and Plan for our 25K Portfolio
42:20- Allocation of Capital and Trades in the 25K Portfolio, using VIX
49:18- Profit and Loss Plan
50:07- Vehicle Selection
1:02:05- Futures Options
1:03:50- Long Term Iron Condors in SPX (Word Document with guidelines)
1:09:10- Example of Long Term Iron Condor to go over guidelines just discussed. Looked at Class Trade #1 put on January 7.
Using this example to go over Iron Condor guidelines for longer term Iron Condors.
This example in SPX was 72 days from expiration when put on.
1:29- Introduction to Iron Butterflies
Class Ends 1 hr 39 min and 50 sec

Class #2: With Dan talking Unbalanced Iron Butterfly in RUT and more considerations in Constructing a 25K Portfolio.

1- Intro
3-41:20-  Class Trade #2 Iron Butterfly in RUT (Unbalanced Butterfly) and Teaching time on this Butterfly Methodology.
Dan also talked about the Plan and adjustments, very thorough. Dan combined teaching time and new class trade.
41:20-44:15- Class Trade #1 Review 72 Day Iron Condor in SPX, initially put on January 7.
45:05- Q and A on Butterflys
54- Word Document for earlier Iron Butterfly Discussion
57:30- Diversification in a $25 K Portfolio
1:04- Core Strategies in 25K Portfolio
1:05- Ideal Duration of Trades in the 25K Portfolio
1:08- How do we Manage Portfolio Greeks?
1:09- Managing Delta and Vega Risk with Credit Spreads
1:09:35- 2 Specific Plans for Managing a 25K Portfolio
1:11:35- Q and A
Class Ends 1 hr 17 min 37 sec

Class #3: With Dan talking Volatility

1- Intro, Annotation on the Class page
6:05- Q and A on word Document on RUT Iron Butterfly and explanation of some of the guidelines
15:25- Implied Volatility
23:05- Standard Deviation
39:15- Vega Example of what volatility to use for standard deviation formula
49:40- Implied Volatility of a Spread
57:10- Example of Implied Volatility of a spread
1:06:50- Review Class Trade #2 Unbalanced Iron Butterfly
1:13:20- Review Class Trade #1 72 Day Iron Condor in SPX
1:16- 25 K Portfolio Update
1:22:10- New Live Trade: Weekly Calendar
1:35- Q and A
Class Ends 1 hr 42 min and 16 sec

Class #4: With Dan talking Credit Spreads

1- Intro and Q and A
8:00- How to pick a vehicle for Credit Spreads?
24:05- Do I use Puts (Bullish) or Calls (Bearish) with my credit Spreads? With Stocks and Indexes?
27:35- What duration (days to expiration) should I use with Credit Spreads?
29:35- What strike should I sell with Credit Spreads?
31:17- What strike should I buy with Credit Spreads?
32:55- How to execute Credit Spreads?
36:05- Profit and Loss Plan for Credit Spreads?
40- Case Study for Credit Spread Adjustments (Using Put Credit Spread)
41:10- Profit and Loss Plan in my Case Study?
49:45- When to adjust Credit Spreads?
54:20- Going over Case study example
56:20- How to use Insurance at the beginning of a Credit Spread?
1:06:45- Adjustments for Credit Spread #1 Take off some Spreads
1:11:15- Adjustments for Credit Spread #2 Roll short options down a strike (if upside, up a strike)
1:12:26- Adjustments for Credit Spread #3 Roll spread down and possible increase size. (if calls, roll spread up)
1:14:52- Adjustments for Credit Spread #4 Buy Long option (on downside put and upside call)
1:16:35- Adjustments for Credit Spread #5 Buy a Vertical Spread
1:18:20- Adjustments for Credit Spread #6 Buy out-of-the- money Calendar (Puts on downside and Calls on upside)
1:19:46- Adjustments for Credit Spread #7 Turn Credit Spread into a Butterfly
1:25- Adjustments for Credit Spread #8 Turn Credit Spread into a Calendar
1:27:20- Adjustments for Credit Spread #9 Turn Credit Spread into an Iron Condor
1:30:45- Review Class Trades 25K Portfolio
1:31:08- Review 1st Class Trade 72 Day iron Condor that I took off
1:33:32- Review Class Trade #2 RUT iron Butterfly that I took off
1:38:19- Review Class Trade #3 RUT Weekly Calendar that I took off today
Class Ends 1 hr 47 min and 12 sec

Class #5: With Dan Weekly and Monthly Calendars

1- Intro: Class page annotation, New class trade from Monday Jan 26 e-mail
7:15- Intro Q and A, On any given day, how much of 25K Capital should be put to work?
14:25- Intro Q and A, Summary of how I would schedule the trades for the 25K Class?
18:50- Weekly Calendars (following Word Document from Class Page)
38:25- Monthly Calendars (following Word Document from Class page)
1:05:45- Review Class Trade #4 RUT Iron Condor 23 days from Expiration (Trade put on Jan 26)
1:08:40- New Class Trade #5 RUT Weekly Calendar Buy 1 Feb 1190 Put (Feb 20 expiration)
and sell 1 Feb 1190 Put (Feb 6 Expiration) for $8.15 debit ($815)
Class Ends 1 hr 13 min and 31 sec

Class #6: With Dan talking the “Navy Seal assisted Put Credit Spread” (Iron Condor alternative)

1– Intro- announcements, today’s outline, and Q and A
1:25– Intro- class page annotation of Wednesday’s Class
7:40– Intro Q and A Since we got the Weekly Calendar off in 1 day, put on Wednesday and took off Thursday,
would we put it right back on?
11:10– Intro- Q and A Who do we contact if we don’t get class trade updates?
11:19– Intro- Q and A How do we choose between NDX, RUT, and SPX for best Vehicle for Income Trades?
14:17– Q and A Rut moves more than SPX?
14:38– Q and A Open outcry in SPX differ from electronic trading in RUT?
15:45– Q and A Better fills in Weekly or Monthly execution?
16:2– 25 K update of the Class Trades (Goal to make $1500 monthly)
25:00– Calendar for putting on February Trades for 25K Portfolio
34:15– Navy Seal assisted Put Credit Spread and Case Study
1:16– Review Class Trade # 4 RUT Iron Condor, put on Jan 26
1:21:18– Review Class Trade #5 Weekly RUT Calendar put on Jan 28 and took off Jan 29
1:22:25– New Class Trade #6: Navy Seal Assisted Put Credit Spread
1:33:40– Announcement of Huntington Beach Seminar on February 19 and Feb 21 Phoenix Index Seminar
Class Ends 1 hr 36 min and 17 sec

Class #7: With Dan Teaching Double Diagonals and the Weekly Iron Butterfly

1– Intro: Topics covered so far in the 25K Class
1:23– Review of the 6 Class Trades done so far in 25K Class
2:20– Live Trade #7 Weekly Iron Butterfly Feb 13 Expiration SPX $ 2046 2045-2070
Call credit spread and 2045-2015 Put Credit Spread Total Credit $21.15 Credit
9:10– Review Class Trade #4 RUT Iron Condor
11:45– Review Class Trade #6 Navy Seal Assisted Put Credit Spread
22:00– Weekly Iron Butterfly teaching from Word Document (using AMZN as example),
also discussed insurance for a big move. Talked about adjustments
40:10– Double Diagonals (Used IBM as an example), and covered adjustments
49- END– Took a last look at Live trade #7 put on today, Weekly Iron Butterfly in SPX.

Class #8:Wrap up with Dan

1- Intro Class page and annotation of last class
4:50- Review Class Trade #7: Weekly Unbalanced Iron Butterfly on SPX with adjustments
17:35- SPX Price Chart of what the market did during the 25K Class
20:25- Question on Iron Butterfly Trade, would I take off entire call side if we keep going up?
21:45- Question on Iron Butterfly Trade, additional upside adjustment if we keep going up?
A few other questions from students are also covered.
27:25- What is a Couch Potato Income Strategy?
30:38- Strategies I like the best?
35- Do I ever tighten up the good side of an Iron Butterfly (Put side), when the market goes up?
Tighten means narrowing the credit spread.
37:07- Choosing butterfly width when Volatilities change?
39:17- With Navy Seal Assisted put Credit Spread versus just smaller quantity of put credit spreads?
57:15- one more last look on Class Trade #7: Weekly Unbalanced Iron Butterfly
1:00:02- (1 Hr and 2 min) Constructing trades where you have no Vega risk or reduced Vega Risk?
1:08:25- Next 2 Online Classes, Butterfly Class and then Credit Spreads.
Class Ends 1 hr and 12 min and 50 sec