Dan Sheridan – The Mango Butterfly

Instructor: Dan Sheridan
Course Format: On-Demand Video Course (Recorded Live Sessions)
Skill Level: Intermediate to Advanced Options Traders

Course Overview:
In The Mango Butterfly, Dan Sheridan introduces a unique and powerful variation of the traditional Butterfly Spread that he developed and refined through his extensive trading experience. This strategy, which Dan affectionately named after the "mango" due to its balanced and sweet characteristics, combines the risk management of a standard Butterfly with the flexibility and adjustment capabilities needed to thrive in dynamic market conditions.

The Mango Butterfly is designed to provide a defined risk, high probability of success, and the ability to adjust as market conditions change. Whether you’re trading in a low-volatility environment or dealing with increased market swings, this strategy gives you a comprehensive framework for generating income with precise positioning while controlling risk.

Throughout the course, Dan walks you through the step-by-step process of setting up, managing, and adjusting a Mango Butterfly. You'll gain an understanding of how to maximize profits while minimizing downside risk, all while learning to adapt to changing market conditions.

What You’ll Learn:
✔️ The core principles of the Mango Butterfly strategy: how it differs from traditional Butterfly spreads
✔️ The perfect market conditions for implementing a Mango Butterfly (i.e., volatility, time decay, and directional bias)
✔️ Detailed guidance on position setup: selecting strikes, expiration dates, and constructing the butterfly’s wings
✔️ Why the Mango Butterfly is well-suited for markets with moderate directional moves or low volatility
✔️ How to balance risk and reward with the unique structure of the Mango Butterfly
✔️ Step-by-step instructions on how to adjust and manage your positions as market conditions evolve
✔️ Techniques for scaling into and out of the position to lock in profits and limit losses
✔️ Understanding how the Greeks—Delta, Gamma, Theta, and Vega—apply to the Mango Butterfly and how to use them in trade management
✔️ How to mitigate risk by adjusting the position in response to large movements in the underlying asset
✔️ How to take advantage of time decay (Theta) and how to adjust your strategy when facing unfavorable market volatility
✔️ Real-world case studies and live trade walkthroughs to highlight key concepts and demonstrate how to implement the Mango Butterfly in real-time
✔️ When to exit the Mango Butterfly and lock in profits, and how to make final adjustments before closing the position
✔️ Dan’s personal tips for staying disciplined, managing emotions, and maintaining a calm, calculated approach under pressure

Course Includes:
✔️ Full access to all recorded live sessions, where Dan explains each component of the Mango Butterfly strategy in-depth
✔️ Downloadable guides and checklists for constructing, adjusting, and exiting Mango Butterfly trades
✔️ Trade logs and real-life examples of successful Mango Butterfly trades with analysis of decision-making and adjustments
✔️ Templates for calculating position sizing, risk management, and exit strategies
✔️ Bonus content on advanced management techniques to refine your understanding and improve your execution
✔️ Access to Dan’s trade management framework, including adjustment guidelines based on live market scenarios

Why Choose the Mango Butterfly Strategy?
The Mango Butterfly offers traders a balanced, flexible, and relatively low-risk way to profit from a neutral to moderate directional market outlook. By adjusting key aspects of the traditional Butterfly strategy, the Mango Butterfly gives you a more adaptable position that can withstand market changes, volatility, and time decay. It is especially effective for traders who want to:

• Profit from time decay while minimizing exposure to volatility
• Implement a defined-risk strategy with precise control over potential losses
• Adjust positions as the market moves to protect against downside risk
• Take advantage of moderate moves in the underlying asset, particularly when you expect a range-bound or mildly directional market
• Build a strategy with high probability of success while staying disciplined and adhering to risk management protocols

Who This Course Is For:

• Intermediate to advanced traders who are already familiar with basic options strategies like Butterflies and want to learn a more flexible and advanced approach
• Traders looking to generate income in low-volatility or neutral market conditions
• Those who want to minimize risk and maintain a defined-risk profile while trading options
• Traders who want to expand their toolbox with adjustable strategies that work in dynamic markets
• Anyone interested in mastering the Greeks and how they impact the performance of the Mango Butterfly
• Investors who want to diversify their options strategies and create a consistent income stream using a balanced, repeatable method

About Dan Sheridan:
Dan Sheridan is a veteran options trader with over 30 years of experience, including roles as a market maker at the CBOE. As the founder of Sheridan Options Mentoring, Dan has helped thousands of traders master the nuances of options trading, especially when it comes to income-generating strategies. His clear, structured teaching style and his ability to simplify complex topics have made him a go-to mentor for traders seeking consistent profitability with well-defined risk. Dan's practical, real-world experience and his focus on trade management ensure that his students are equipped with the tools and strategies needed to succeed in today's markets.