HOW TO CLOSE ANY OPTIONS TRADE (IRON BUTTERFLY, IRON CONDOR, SPREADS, STRANGLE) | EP. 36
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- Опубліковано 23 вер 2024
- Let's talk about closing an options trade. In today's video I want to talk about a very important question that I have received a lot recently, how do we close out of any options trade? Exiting an options trade before expiration should be something you should know how to do before entering your first options trade. Closing an options trade before expiration is very simple.
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Glad this video was made because everyone always tell people how to get into these options trade but never let them know how to get out of the options
Exactly, I've been talking about a lot of different strategies, so it's good to know good to close them!
@@TechConversations can you let an iron butterfly simple expire if you in the money?
Just use condors and let the shit expire
@@TechConversations Can i use it for christmas tree strategy because i'm losing money there?
@@Rk-xo5qk lol 🎄, do you mean Butterfly?
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Successful traders determine the entry and exit points of their trade.
Why is that important ?
Hello Sir, please explain little on this🙏
Determining the exit and entry point of trades can help you know when to open and when to close a trade.
You can use both weekly and daily charts, but ensure that the signals align properly before you make any move.
@@martins789 okay thanks. Are you a broker?
Super useful video. I really appreciate the way you presented everything at a slower pace, even if some thing became predictable. I feel like anyone could understand how to close after your demonstration.
A true genius is someone who can explain complicated things in an uncomplicated way. I am forever grateful 🙏🏾
This is extremely helpful. The support and the community in the discord is unreal. Thanks a lot!
I like the fact that you stress learning the exit before trading. That gelped me a lot!
LPT: the closer you are to expiration the harder it becomes to close out depending on where the stock is in relation to your legs. For example, if your long leg on the untested side can only be STC for 0.01 chances are you can’t close out the 4 legged option in one go. In that case it’s better to BTC your short legs and let the long ones expire worthless. Just a heads up if you can’t seem to close a spread or condor/fly, may be getting blocked by one long leg.
Exactly what I was looking for! Couldn’t find anything on this topic until I found you.
Thanks for this one. I've only been doing covered calls up to this point and had not seen Robin Hood used to execute multiple legs in a single transaction. That was helpful.
Ive searched the entire YT for 2 years for this video on how to STEP BY STEP close an option spread trade... OMG Thank you so much for this! "Oh its easy just do the opposite of what you did" "That's simple just buy and sell it back" They all say... Yeah right!! Everyone will step by step show you how to enter, but never show S by S how to close the trade! Ugh! (Plus I use TOS - not the rookie friendliest platform) Was this soooo hard? I appreciate you, thanks again. I will definitely be joining your discord fasure!
Favorite stock is UVXY atm, good for call credit spreads and puts
This is a great video, I literally watched this multiple times. I have heard you say you can close out of any trade line the Iron Condors, Butterfly, straddle, credit spreads etc. But my biggest question is how do you close out of a regular condor or regular butterfly. I mean by debit not credit, so long call butterfly, long put condor, or even long put butterfly. How do you close it through debit. Sometimes closing 4 legs at once doesn’t work 🤷🏾♂️. So how would you close it if you tried doing it in parts by selling 2 legs at a time instead of 4.
Thank you for this. I was sitting there waiting for my spread to get filled took two days. You did in 5 minutes.
THANK YOU! I’m learning and very little info on this.
One of the best explained on closing multiple layers of positions, I wish you were around 5+years ago, would have saved me many a grief moments. KEEP UP the Great Work. Love it here an on the Discords.
Great video today I was up like 300 on an Amazon long condor spread call. And when I let robinhood close it I only made like 50 bucks so if I would have sold it my self I would have made way more money. Wish I knew this before. And I was scared to close one at a time because I didn’t want to lose protection from my other contracts
Your videos are always easy to follow. Excellent options trading education. The Best!
Thank you so much you’re the first video I’ve found that actually made this make sense!
Thank you so much for this!! I am a beginner in this option world. Im glad i came across this to have the knowledge before purchasing these options. U earned a new sub from me and i will be sure to stay in the loop with your content. Once again thank you so much from HTX 🤘🏾💪🏾
This is a great video. Sometimes I leg out of a position even on different days with a volatile stock moving both directions this works.
Thank you bought a sell option on accident 😅 I've been trying to sell it for days 🙏
When setting up a iron butterfly can you buy and sell More then one contact s. For example buy 2 calls sell 2 calls buy 2 puts and sell 2 puts
It's versatile and that makes you money!
@TechConversations Do you have a video closing an option on the app?
Quick question do you have to close out your options on the exact same order you went into set options? Or close out at random?
Thank you. This is something no UA-camr is mentioning. Subscribed.
I started doing calls last week and already subscribed to discord, I want to start doing spreads, I'm working on upgrading to lvl 3, and this info is very helpful thank you.
I'm still new at options trading and learning. So here's my question... if I buy a 3 call option at different expiration dates and suddenly the stock value goes up a lot sooner than the dates that I picked, would I be able to close and collect profit?
Yes you can.
Help im inside your Discord. the free version. But Where is the $7 monthly selection. i dont see it anywhere in this free version of your discord. cannot find.
Quick question on Iron butterfly. Do you sell before expiration? or on the day of expiration(edited)
[4:40 PM]
And howcome it can be that the stock stayed pn the spread I made, yet I'm going negative?
Shiba coins is my favorite.
Thank you for this video! You'd be surprised how hard it can be to find a straightforward answer 😅
Thank you so much for sharing. God bless you! You’re changing my life!
New to the stock, video was useful and informative. Save many people from making big mistake.
So once the option is closed you don't have to do anything else? Thanks for the video!
Thank you hard to find videos that show you how to sell properly
You are the greatest‼️ 👍😃 thank you
TKS that was very insightful. New trying to learn all I can
Can you earn money on the first day when your doing the iron butter or does it have to be a certain time when you have to close and start making money
Thank you
I'm looking at CLF
Does doing it on Webull happen all together if I open the iron butterfly or any other strategy, does it close in reverse by clicking my position?
I did a 3 option butterfly on Tesla and when I’m ready to sell i don’t ever see my collateral am i doing something wrong?
On a Sell to Open, I do the midpoint bid it gets filled but instantly goes to Asking price n I immediately lose money 😣
Why I did exact same thing to you but it is said error , could you explain what happen .
Thank you! 👍
Very well explained! Great video thank you 🙏
Do you pay for the loss as the collateral on iron condor? What I mean is that which value do you look at to tell the collateral to pay. Is it the profit or you only pay for the loss as collateral
Do you have a video on how to close a scalp option call? If not can you create one?
Question please. How many options can i buy a day from robinhood? Also can i buy and sale all wake or i do have to wait for 2+ days to buy or close? Please help. Thanks alot
This video is gold
So does someone have to buy your exact spread or does RH split up your orders as singles? I ask because if you are in the green and it’s close to 1-3 days to expatriation, that means someone is going to have buy the opposite spread, meaning if you’re in the green, they are in the red. So why would someone buy a red spread with days to expiration? It’s like someone buying a way out of the money option two days before expiration. That’s what has me worried that if they can’t find buyers for my exact opposite spread, I’m stuck with these at expiration.
robinhood doesnt let me close all legs at the same time. I just had a spread at +200 the other day, couldn't sell it. Today on expiration date it was $40, but having to deal with selling each individual leg I ended up losing $40 in total. Will never use robinhood to trade spreads again
Favorite stock? Nio
I sell put options for maximum premuim. Its better to just them expire is it not?
Woww this seriously helps me out like crazy. Thanks bro.
Thanks for posting great content. I like how it's simplified enough for a newbie to feel comfortable taking risks while investing and trading.
I'm bullish on NEXE and UAVS 👍🏼
Can i close an option on the expiration day?
I'm new to this whole trading options thing. But i did a option spread for TSLA, 1010 (buy) 1005 (sell x2) and 1000 (Buy). And even when i put in and filled that option when it was at 982 this morning it was right up there at around 1004 when i started to sell it....how come my profit did reflect the "Max profit" of some 370 bucks or whatever instead it showed from 30 (break even) to just 60 bucks? i'm confused how this works exactly
so if you sell a call , and what to close it out, just buy the samecall for the same expiration?
If i have a butterfly spread and don’t close the position by the end of the expiration date, would i lose my gains or will it automatically get closed by the end of the day?
Thank you,
Should I get out of my AT&T butterfly before earnings? It usually doesn’t affect the price but I don’t know if I should risk it
@TechConversation stfu
I got wrecked on the dividend for T. Was only about 1.6% but stock fell over 3%.
In my opinion, it's not worth the risk. One bad trade wiped out all my winners over 3 weeks.
I almost closed half of them at 50% profit but thought "what could go wrong?".
If your risk tolerance is there then you're good to go, I keep reminding myself "you can't go broke taking profits"
I was looking to do the ironfly on AT&T as well. How is that going for you so far? This will be my first time using the ironbutterfly
Very informative but is work like when you close trade it will close all the legs
Can you sale both at the same time on Webull
Learnt a lot from your videos man. Thanks so much
Typically how long should I wait before moving to close a strategy?
I placed an iron condor on a stock on Monday but the one thing I forgot to check was the expiration date which is set to expire a month later (November). I don't want this option lingering around for a month so my question is can I close the iron condor on Tuesday without any repercussions or early assignments. As of know, I'm in the money but my concern is that I don't want this option lingering around. Can I close it on Tuesday?
Not to split hairs. I thought you should close out 2 days before the ex-divdend date not 1 day? Anyone know the difference?
Favorite stock V (Visa)
isnt this the Iron Condor Method tho? since sell call and put are not near the initial Share Price? @TechConversatoins
This was very helpful! Thank you so much for the content man 🤘🏼💯
Is the commissions part on the widget, where you’ll see any gains/losses?
I like SLTQ tell me your thoughts
I tried all the ways you explained but the order never goes executed and at 4:30 every day it gets cancelled by itself... heeeelp
Favorite stock is PLTR!
If I have a pmcc what’s the best way to buy to close the short leg and sell to open a different short leg? Assuming I want to keep the long/leap leg?
I’m assuming the best way is to buy to close the short leg while simultaneously on the same order selling to open a different short leg. While doing nothing with the long/leap leg.
Happy Holidays!!
If you create a second opposite trade with same expiration wouldn’t it just open a second trade and create a new trade that we’d have to close?
And also Guillermo since I am a level 2 trader is there any way that I can get up to level 3 what do I have to do to get there?
would this count as a day trade
So closing your contracts early like this means you also are closing & receiving the current profit???
Hi Guillermo this is Mike how are you? If I decide to join do you have any level 2 stock trading advices for me because I can only do level 2 in robinhood.
thank man
Amc is doing pretty good
I like riot but its killing me lately
MVIS is good at the moment. Lots of intrinsic to play with.
So then what would be the best way for me to leverage 100 shares of SENS? I've tried selling calls on it but it barely pays anything.
GENIUS! THANK YOU!!
Why am I negative when my iron condor is exactly the price I wanted it? $NIO Exp 12/10... Iron condor set up as follows... Sold a call at $40 sold put at $39. Bought call at $41 bought put at $38.. stock price is currently 39.50 and I'm negative 4%.... I don't understand
Thanks for the video
When you flip the legs won’t that just open up separate option contract?
No because you are reversing what you initially did. Like he says, if you bought, you sell, if you sold you buy. That's how you get out of a call or put, you do the opposite of what you did to get into it. Unless you want to exercise it. So say you want to buy a call, when you initiate it you are "buying to open" so when you want to exit you "sell to close". Hope that makes sense?
@@coreyroberts2831 Yes. Thank you!
@@rasheedpage5554 You're welcome! :)
My option tab in Robinhood just says placed, how do I see check return
Do One On Webull Please
Hi. Good Video. IF I own an option would I be eligible to Dividends? Pl clarify
I need help I have a cs long straddle x2 option going and I cannot close out of the trade. My expiration date is November 25th and I want to close now can anyone help me please?
So overall, if I am at a profit, and I want to close my trade, I can use this exact technique and receive my profits before the expiration date right?
Yes you dont need to wait for expiration to close out of your trades!
Good video thanks!
Thanks for watching!
What about webull is different
Im doing fine thank you