Dan Sheridan – The Sherman Tank Butterfly

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

Course Overview:
In The Sherman Tank Butterfly, Dan Sheridan introduces a highly durable and resilient variation of the traditional Butterfly Spread, designed to withstand significant market volatility and directional moves. Named after the "Sherman Tank" for its strength and defensive capability, this strategy is ideal for traders who are seeking to protect their positions while still taking advantage of market movement. Unlike a typical Butterfly, the Sherman Tank Butterfly is structured to handle adverse market conditions, giving you the flexibility to trade confidently even during periods of extreme volatility.

This course dives deep into the core principles behind the Sherman Tank Butterfly, focusing on the key advantages of this strategy in terms of risk management, adjustment techniques, and trade flexibility. Dan will guide you through the step-by-step process of setting up, managing, and adjusting the Sherman Tank Butterfly, demonstrating how to build a robust trading system capable of absorbing market shocks while maintaining favorable risk/reward profiles.

What You’ll Learn:
✔️ The key differences between the Sherman Tank Butterfly and a traditional Butterfly, and how it offers greater protection in volatile markets
✔️ How to structure your trades for maximum durability while minimizing downside risk
✔️ Step-by-step instructions for constructing the Sherman Tank Butterfly, including strike selection and expiration dates
✔️ How the Greeks (Delta, Gamma, Theta, Vega) influence the Sherman Tank Butterfly and how to use them for optimal positioning
✔️ The optimal market conditions for applying the Sherman Tank Butterfly and how to adjust your approach when market volatility spikes
✔️ Detailed techniques for adjusting your Sherman Tank Butterfly position during adverse market movements to keep risk under control
✔️ How to leg into a Sherman Tank Butterfly position for greater flexibility and lower risk exposure
✔️ Methods for scaling into and scaling out of the position to manage risk and lock in profits at the right time
✔️ How to manage time decay (Theta) in a way that enhances profitability while minimizing exposure to Vega (volatility)
✔️ The critical concept of adjustment timing: knowing when to act to preserve your position and when to let it ride
✔️ Real-life case studies of successful Sherman Tank Butterfly trades, including step-by-step breakdowns of adjustments and trade management
✔️ How to exit the Sherman Tank Butterfly effectively: locking in profits while managing final adjustments to protect the position
✔️ Techniques for hedging your position with additional options strategies to further reduce risk in extreme conditions

Course Includes:
✔️ Full access to all recorded live sessions where Dan breaks down the nuances of the Sherman Tank Butterfly strategy in great detail
✔️ Downloadable checklists and guides for constructing, adjusting, and managing the Sherman Tank Butterfly
✔️ Trade logs and worksheets for tracking your positions, adjustments, and risk profiles
✔️ Access to trade management templates that calculate new risk/reward ratios and position adjustments
✔️ Bonus content on real-world trade management, featuring specific adjustment scenarios
✔️ Access to Dan’s adjustment framework, which shows how to maintain control over your trades in high-volatility markets
✔️ Bonus: In-depth walkthroughs of trades that show how to build, adjust, and close the Sherman Tank Butterfly positions

Why Choose the Sherman Tank Butterfly?
The Sherman Tank Butterfly is designed to provide maximum protection while allowing traders to take advantage of volatility. Its core strength lies in its ability to withstand sudden market shifts, making it a go-to strategy for markets that exhibit rapid price changes. Traders looking for a strategy that offers:

• Defined risk with greater protection in volatile environments
• Flexibility in adjustments to account for market changes
• A strategy that minimizes exposure to large moves while still enabling profit potential
• The ability to capitalize on time decay (Theta) while managing volatility risk (Vega)
• A robust strategy with high probability of success even in unpredictable markets

will benefit from learning the Sherman Tank Butterfly.

Who This Course Is For:

• Intermediate to advanced options traders who are familiar with basic strategies like Butterflies but want to expand their toolkit to include more robust, defensive strategies
• Traders looking to implement a durable and resilient strategy for trading in volatile markets
• Those who want to take advantage of market swings while maintaining a defined risk
• Traders seeking to improve their trade management and adjustment skills under challenging market conditions
• Anyone interested in learning a high-probability, high-protection strategy that can weather sudden market moves
• Investors who want to implement a consistent, repeatable strategy that handles volatility without sacrificing profit potential

About Dan Sheridan:
Dan Sheridan is an experienced options trader and market maker with over 30 years of expertise in the financial markets. As the founder of Sheridan Options Mentoring, Dan has taught thousands of traders how to develop consistent, profitable strategies. Known for his structured teaching style and clear explanations, Dan specializes in helping traders develop effective trade management systems that combine risk management, flexibility, and a calm approach to market fluctuations. His innovative strategies, like the Sherman Tank Butterfly, have proven highly successful in dynamic market conditions, making him one of the most sought-after mentors in the options trading community.