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Rick Rose's Oil Trade

  1. Does anyone trade the Rick Rose oil futures trade from the California trading group?
     
  2. I do not, but from the little I've seen of his videos it looks like he's selling strangles in oil which is a fast moving market.
     
  3. There are two versions of the trade. One is an iron condor and one is a strangle style from what I've found on the videos. I believe they show rick rose who trades the ic, making 30% on margin with a 24 month period without a loss. Not sure how bad the losses look though.

    Basic guidelines on the ic using oil futures:
    - 42 to 47 dte
    -15 point wings
    -shorts between 20 to 30delta, looking for $1 credit a wing
    -takes profit at 50% of credit

    I think he does 3 progressive adjustments, I only head him talk about the last one specifically
    Adjustments:
    -1.5 time credit
    -1.75 Times credit
    - 2 times credit roll down 2 strikes and double size

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  4. Anybody know how to use the price movement analysis tool with the CL futures?