update on Iron Condor strategy after improved testing
15days is good too, For spx currently i am doing 6800 to 6850 range and put i am doing 6320 and below. The reason is some support at 6400.

close 50% above
Average move per day 0.45%

just sharing here, iam also using some suggestion
from chat GPT
using higher point of 6656.80 plus an additional 1.5 Sd and lower part 6480 with lower than this point of 1.5SD plus move of 0.45% in consideration XXX number of days

I do use additional tools like quant data, trying to know in advance the probability of me going into in the money

As prices go higher, your account feels the pain, because your call are eating you up

Beware if your selling point is just 60 point away, what you need to do to cut loss there or not.

This post has been edited by tkwfriend: Sep 20 2025, 12:02 AM

Sounds Greek to me........maybe because I don't understand the Greeks! Once I move up on my options learning curve, will definitely seek your advice on Iron Condor. And read all your old posts with better understanding and better perspective. Thanks for sharing. I am sure the readers appreciate your input.

tkwfriend, do you trade SPY options? I think this is more manageable for me cos size of 1 contract just 1/10 of spx. I did some puts last Friday. Any suggestion on SPY options trade? Can I assume yr Iron Condor strategy works just as well on SPY as compared to SPX?

Just sell a weekly put and collect USD50. It's very safe and unlikely to be exercise.

Hi
thanks for d advice. I m thinking of strike price 630. Should be low enough. I may get a bit ambitious and try 650 and collect higher premiums. Definitely 0dte doable but 1 week... still a bit scary.

Spy can be done too, the only risk you are taking when you come into the money one of your selling legs, you need the amount money to get it
The advantage of SPX not need to buy stocks/ETF


Look at Call 6825/6830 PUT 6535/6530 selling @1.70, CRedit 8th October. Capital required to hold is less than 600 (beware this trade is slightly risky on the put side

You can do 0DTE but you need to know your risk.
If, like after 11 pm our time of 23/9/2025, this is going to eat you up fast.


If you are worried, do out 30 days, 45 days, and 60days. extreme out of the money


Call for spy, maybe like call side 800 above put side below 450

For spx like 7500 call side and 6000 put side


I use this website for estimator for SPX to SPY https://spyconverter.com/#google_vignette

I havent dabbled in options yet but would like to learn more.
Is 21 DAYS LEARNING LAB a good place to learn?
Teacher is Dr. Kosh.

Not recommended, overpriced, and half-cooked

https://www.tastylive.com/

This link above let you learn from beginner to pro for free.

In US option trader use it as a benchmark or guide


It owns Tastytrade, and they are build Thinkorswim broker before

This post has been edited by tkwfriend: Sep 27 2025, 09:22 PM

Thanks

You can learn using options with davis
https://youtube.com/@optionswithdavis?si=grfMjLohNnK3iajO

Do not pay anyone please. It's all free.

Thanks.

dont pay anyone, i agree with this. Malaysia here prices are over extreme

if you need help, just ask here, myself I try to provide what I can, As i done many testing

A few years back, my 12-month options transaction came to about 20k transactions.