S&P500 Iron Condor 60% profit 76% PoP50, high IVR for #options

I just can't resist the very high IVR for large ETFs, like SPY.
My most common strategies these at corrections are the Iron Condors, neutral or negative delta.

SAFETY ZONES: 200MA could act as support, ATH could act as resistance.

Max profit: $375
Probability of 50%Profit: 76%
Profit Target relative to my Buying Power: 60%
Max loss with my risk management: ~$150


Req. Buy Power: $625 (max loss without management before expiry, no way to let this happen!)
Tasty IVR: 49 (ultra high for S&P500)
Expiry: 56 days


SETUP: IC for , because IVR ultra high, for 3.75cr
* Sell 1 SPY Jan21' 420 Put
* Buy 1 SPY Jan21' 430 Put
* Buy 1 SPY Jan21' 480 Call
* Sell 1 SPY Jan21' 490 Call

SETUP: IC for SPY, because IVR ultra high.


Stop/my risk management: Closing immediately if daily candle is closing out of the the box, max loss in my calculations in this case could be ~150$.

Take profit strategy: 50% of max.profit in this case with auto buy order at 1.88db.

Of course I'll not wait until expiry in any case!


If you liked this article, check my other ideas.

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