SHERIDANMENTORING – CREDIT SPREAD CLASS 2015

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
11:19- Teaching Overview: Define Credit Spreads
15:31- Teaching Overview: Philosophy of Credit Spreads
17:07- Teaching Overview: Greeks 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

CLASS #8: RATIO BUTTERFLIES WITH DAN

0- Introduction and Outline:
1) Ratio Fly (Credit Spreads with Insurance)
2) My favorite adjustments for Credit Spreads?
3) Insurance for Credit Spreads at the beginning of the trade
4:09- SPX Ratio Butterfly with full Risk Management Plan and adjustments.
24:05- Dan’s favorite adjustments for Credit Spreads
56- Insurance for Credit Spreads at the beginning of a trade
1:01:43- End

Financial Development Course

Financial development means some improvements in producing information about possible investments and allocating capital, monitoring firms and exerting corporate governance, trading, diversification, and management of risk, mobilization and pooling of savings, easing the exchange of goods and services.