Profiting From Range Bound Markets

We are one week September's expiration and the market has been range bound now since mid-August. The volatility has made for some nice premium in the index option chains, which combined with the tight range has made for excellent iron condor conditions.

I had backed off of my long vega trades, for obvious reasons, but recently opened a new double diagonal position for a small credit. If IV falls out of the trade, at least I'm in for a credit and will not be worried about having to pay down a fat debit by selling thin front month premium.

Looking back on this correction, my accounts have weathered the storm just fine. I'll probably comb through things over the weekend to see what there is to learn.

I am trying to get some details about this Options Intensive Workshop that Options University is hosting next month in San Francisco. So far, what I know is that the concept behind the workshop is to take attendees from an academic understanding of how options work to a practical application in the market.

Once we learn the fundamentals, we can all sit around and banter about options on a theoretical basis. Looking at the market, spotting the opportunity, and applying or adjusting an option strategy effectively is a whole other kettle of fish. It's totally doable, though.

Brett and Ron are really pushing hard to recruit some well known talent. The names that I have heard mentioned as lecturers include:

• Larry McMillan, author of McMillan on Options and Options As A Strategic Investment;
• Jon Najarian, aka "Dr. J";
• Price Headley from BigTrends.com,
• Tom Sosnoff from Think or Swim

There are others, but those are a few that come to mind right off the top of my head. The idea is to put you in a room with some great trading minds and let you learn from the best. Brett and Ron are really trying to over deliver on this.

Christopher Smith
TheOptionClub.com