20-delta Iron Condors hit 50% of initial credit collected the quickest (close to 21 days). However, they give the least amount of credit.
How Long Iron Condors Take to Hit 50%
How Can Iron Condors Make Money?
Iron condors works because taking profits at 50% increases the win rate dramatically.
Iron Condor Wing Width
Managed Early and High IVR for Iron Condor
When selling Iron Condor at 50% width of strikes, profitability increases when managed at 50% and IVR>35.
Iron Condor Characteristics
Not many (2.5% of them) Iron Condors go to max loss.
Many trades still profitable after experiencing 10-50% of max loss
Fixed vs Dynamic Iron Condors
How to Manage Iron Condor
Generally, manage Iron Condor at 50% or hold to expiration whichever comes first.
For wider Iron Condor (50pts wide) or naked options, manage at 50% or close at 2x credit received whichever comes first.
Full video here
Iron Condor Width
Wider Iron Condor has bigger losses but higher win rate and profits. Wider Iron Condor behaves like strangles but uses much lesser BPR.
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Most Efficient Iron Condor Wings
Prefer to sell 30 delta put/call and buy 10 – 16 delta put/call.
30 delta put/call and 16 delta put/call give us premium closest to 1/3 width of the strikes.
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Estimated Probabilities
Heard Sosnoff say:
Chances of price closing at strike price at expiration = delta
Chances of price touching strike price = 2 x delta
20 Percent Freedom 