Iron Condor is one of the more popular option trading strategy. It became very popular due to the limited risk profile while maximizing the time value derived from selling options on both directions.
There are many advantages to run an iron condor and we discussed them lengthy.
In this article we will understand how to run a scan and how to read the results.

First thing you can try one of our two predefined scans that are based on Iron Conder:

  1. High probability Iron Condors 
  2. Earning play - Sell Iron Condor

How to find an Iron Condor in Option Samurai

On the dashboard main screen select "compose scan" or edit a saved scan or predefined scan. In the scan edit window select the iron condor strategy and configure the values to your preferences. 

Reading the Iron Condor results

To execute an Iron Condor you need to preform 4 trades. The order of strike prices indicates the actions to take:

  1. Sell put
  2. Buy put
  3. Sell call
  4. Buy call 

So in this case we will:

  1. Sell a put of 177.5$
  2. Buy a put of 175$
  3. Sell a call of 192.5$
  4. Buy a call of 197.5$

Did this answer your question?