SDSU Student Team Wins “Most Badges” Competition During TD Ameritrade National Event
What are “short strangles” “iron condors” and “butterflies”?
Hint: they are not medieval torture devices.
“Short strangles” “iron condors” “butterflies” “short straddles” and “credit/debit spreads” are widely recognized stock trading strategies and the familiarity with these strategies is what earned a three-man team of SDSU business seniors a win for the “Most Badges” at the 2015 TD Ameritrade thinkorswim Challenge.
The thinkorswim Challenge was made up of 476 teams of U.S. college students competing in a four-week trading competition that included several categories.
Badges are calculated by the number of unique options strategies each team used to achieve returns in the competition.
Tom Bachar (finance), Jonathan Darwish (finance) and Michael Jannain (international business) were the driving force behind the SDSUThetaTraders. They won this portion of the overall competition by realizing returns on their stock trades using the greatest number of strategies. “Badges are calculated by the number of unique options strategies each team used to achieve returns in the competition,” Bachar explained. “This means that during the competition, we made more trades using the greatest number of different options strategies than any other team.”
Although the thinkorswim competition has concluded, the SDSUThetaTraders live on. The original three team members have added more students to their efforts and have launched at website documenting their trading experiments and activities at tradingontheta.com.