Broken Wing Butterflies in a High Vol with Directional Fly – Sheridan Options Mentoring

Learn what’s inside the online course Broken Wing Butterflies in a High Vol with Directional Fly of Sheridan Options Mentoring

For many years Dan Sheridan has been teaching risk management methods, which he learnt at the Chicago Board Options Exchange in Pits. Broken Wing Butterflies in a High Vol with Directional Fly is a 3-week live teaching class in 2021 in which Dan and Mark will share one of Sheridan’s long standing techniques, Broken Wing Butterfly.

Broken Wing Butterflies is commonly called “Skip Strike Butterfly”. The Broken Wing Butterflies strategy is the same as a butterfly approach where the spread sold is usually broader than the spread acquired. This is a long Butterfly wing with long strikes that are not equidistant from the short strike, which means that the furthest OTM wing is farther adjusted. The broader side is termed the broken side, which provides its name to this technique. A Broken Wing Butterfly is a lengthy butterfly that is not equidistant from a short strike with extended strikes. This results in a higher risk on one side than the other, making trading slightly directional than a typical long spread of butterflies. In a high volatility climate, this type of lesson was never taught. In the Broken Wing Butterflies in a High Vol with Directional Fly trading course, you will receive video recordings of live trade for illustrative use, and Dan will follow every live trade with the following session in order to cover risk management and adaptations.

Meet your featured mentor Mark Fenton

Mark Fenton works as a Senior Mentor, providing one-on-one guidance to clients, teaching group seminars, and developing trading strategies and plans. In his role as a retail trader, he has been involved in the trading of stocks, futures, commodities, and options for over 18 years. Mark formerly had series 7 and series 66 licenses, among other things. Mark is particularly skilled at creating traders who are able to stick to a strategy while also managing their emotions and impulses, which may be detrimental to their trading.

About your host Dan Sheridan and the Sheridan Options Mentoring sales page

Sheridan Options Mentoring is a pioneer in the field of personal choices training and assistance. Dan Sheridan is the founder and CEO of Sheridan Mentoring. He has over 30 years of worldwide trade experience and knowledge.

Dan is a seasoned CBOE market maker who previously worked for Jon and Pete Najarian’s successful Mercury Trading firm. Dan taught the bulk of CNBC’s traders during Mercury, including Pete Najarian, one of the network’s current hosts. Dan quit the pits in 2004 and founded Sheridan Options Mentoring. He is now educating individual traders the techniques and processes that are used on a regular basis in the options markets. Dan also teaches retail and professional traders via a variety of additional channels: Dan is a well-known member of the TDAmeritrade Network. He has been featured on CBOE.com and frequently conducts educational webinars for InteractiveBrokers and a variety of other brokerage firms.